Minda reports healthy Q3FY22 performance

News: Minda Corporation posted healthy numbers with topline for the quarter coming at Rs.738.3 crores up 1% QoQ. EBITDA in Q3FY22 was at Rs.78.7 crores up 2% QoQ with corresponding EBITDA EBIDTA margins at 10.7% up ~10 bps QoQ. PAT for the quarter was at Rs.69.9 crore, which included exceptional gains amounting to Rs.33 crore, excluding which PAT was at Rs.37.2 crore, down 5% QoQ.

Views: The company also witnessed robust order wins in Q3FY22 (new business lifetime order wins for the quarter at Rs.617 crore) including new product order wins from EV OEMs. We remain positive on the stock amidst resilient performance with company strongly footed for a robust profitable growth journey over FY21-24E.

Impact: Positive