Minda Corporation Ltd reports Q3FY21 consolidated PAT at Rs. 49.48 crore

Minda Corporation Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.749.47 crores during the period ended December 31, 2020 as compared to Rs.663.55 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.49.48 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.25.82 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.2.15 for the period ended December 31, 2020 as compared to Rs.1.14 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 749.47 crs	₹ 663.55 crs	12.95%
Net Profit	₹ 49.48 crs	₹ 25.82 crs	91.63%
EPS	₹ 2.15	₹ 1.14	88.6%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.749.47 crores during the period ended December 31, 2020 as compared to Rs.554.59 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.49.48 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.41.59 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.2.15 for the period ended December 31, 2020 as compared to Rs.1.83 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 749.47 crs	₹ 554.59 crs	35.14%
Net Profit	₹ 49.48 crs	₹ 41.59 crs	18.97%
EPS	₹ 2.15	₹ 1.83	17.49%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1599.85 crores during the 9 months period ended December 31, 2020 as compared to Rs.1712.67 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.39.89 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.99.96 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.1.75 for the 9 months period ended December 31, 2020 as compared to Rs.4.40 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 1599.85 crs	₹ 1712.67 crs	-6.59%
Net Profit	₹ 39.89 crs	₹ 99.96 crs	-60.09%
EPS	₹ 1.75	₹4.40	-60.23%

Commenting on the results & events, Mr. Ashok Minda, Chairman and Group CEO said: "The auto industry in third quarter of FY21 saw both year-on-year and sequential growth in overall demand primarily driven by pent-up demand in channels, festive season during the period and preference for personal transport due to Covid-19.

Minda Corporation while supporting its customer also delivered Consolidated Revenue of Rs. 7,398 million, which has grown 36% as compared to Industry growth of 17% year on year for the quarter. The higher growth was due to 55% growth in Aftermarket division and also Export from India increased by more than 25%. The content increase in 2 wheeler wiring harness due to transition to BS VI also helped us. With higher operating efficiencies and cost control measures, company was able to deliver successive quarter of improved double digit EBITDA margins of 11.1%. In this quarter we have reported highest ever profit after tax of Rs.495 million."

"Our endeavour remains to continuously reward our shareholders and thus in accordance with our dividend policy, we have also announced interim dividend of 15% on the face value, i.e. Rs.0.30 per share. Going ahead the Company is going to give greater focus towards ESG. The Company will be giving greater focus in Electric Vehicle space by strengthening the team & division to conceptualise, design, develop, new and unseen products, components & system. Minda Corp is poised to leverage its leadership position to grow through its customer connect as it works on the philosophy of more customer per product and more product per customer. We remain committed to our customers to provide best-in-class leading quality of products of advanced technology through innovation."

Shares of Minda Corporation Ltd was last trading in BSE at Rs.96.75 as compared to the previous close of Rs. 97.3. The total number of shares traded during the day was 118398 in over 1456 trades.

The stock hit an intraday high of Rs. 99.55 and intraday low of 95.5. The net turnover during the day was Rs. 11577830.

Source : Equity Bulls

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