Minda posts healthy numbers for Q4FY22UNOMINDA - 655 Change: 0.40 (0.06 %)
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.