- 25 May 2022
- ICICIdirect Research
MINDA POSTS HEALTHY NUMBERS FOR Q4FY22
UNOMINDA - 1032 Change: -19.50 (-1.85 %)News: Minda Industries posted a healthy performance for Q4FY22 with consolidated revenues at Rs 2,415 crore, up 10.7% QoQ, EBITDA for the quarter was at Rs 275.5 crore, with corresponding EBITDA margins at 11.4%, up 60 bps QoQ. Consolidated PAT in Q4FY22 was at Rs144.4.3 crore up 42.5% QoQ (supported by higher other income and profit from associates).
Views: The company closed the year end on a positive note with highest ever quarterly revenues and recovery of margin profile. Margin performance for the quarter came in as a surprise with gross margin expanding ~20 bps QoQ and substantial savings realised under other expenses which were down ~60 bps on QoQ basis. It is exceeding expectations in the seating & alloy wheels business segments and is also gaining traction with EV OEMs for its existing as well as new product profile as well as penetrating well within existing EV OEMs.
Impact: Positive