On consolidated basis
Quarter ended December 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of Minda Corporation has increased 7.44% to Rs 1252.56 crore. Operating profit margin has jumped from 11.14% to 11.46%, leading to 10.54% rise in operating profit to Rs 143.56 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 59.64% to 60.21%. Purchase of finished goods cost fell from 3.06% to 1.73%. Employee cost increased from 15.80% to 15.81%. Other expenses rose from 10.49% to 10.89%. Other income rose 359.09% to Rs 9.09 crore. PBIDT rose 15.78% to Rs 152.65 crore. Provision for interest fell 16.90% to Rs 11.9 crore. PBDT rose 19.76% to Rs 140.75 crore. Provision for depreciation rose 20.68% to Rs 50.36 crore. Profit before tax grew 19.25% to Rs 90.39 crore. Share of profit/loss was 74.12% lower at Rs 0.44 crore. Provision for tax was expense of Rs 26.03 crore, compared to Rs 25.01 crore. Effective tax rate was 28.66% compared to 32.27%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 23.45% to Rs 64.80 crore. Promoters’ stake was 64.84% as of 31 December 2024 ,compared to 64.84% as of 31 December 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Minda Corporation has increased 8.70% to Rs 3734.96 crore. Operating profit margin has jumped from 10.94% to 11.30%, leading to 12.26% rise in operating profit to Rs 421.92 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 60.53% to 60.45%. Purchase of finished goods cost fell from 2.61% to 2.03%. Employee cost decreased from 15.84% to 15.51%. Other expenses rose from 10.18% to 10.74%. Other income rose 389.56% to Rs 29.08 crore. PBIDT rose 18.13% to Rs 451 crore. Provision for interest fell 24.53% to Rs 32.74 crore. PBDT rose 23.60% to Rs 418.26 crore. Provision for depreciation rose 20.73% to Rs 147.5 crore. Profit before tax grew 25.22% to Rs 270.76 crore. Share of profit/loss was 615.85% higher at Rs 5.87 crore. Provision for tax was expense of Rs 73.29 crore, compared to Rs 60.58 crore. Effective tax rate was 26.49% compared to 27.91%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 29.95% to Rs 203.34 crore. Promoters’ stake was 64.84% as of 31 December 2024 ,compared to 64.84% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of Minda Corporation has increased 8.16% to Rs 4651.14 crore. Operating profit margin has jumped from 10.73% to 11.06%, leading to 11.47% rise in operating profit to Rs 514.40 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 60.51% to 60.28%. Purchase of finished goods cost fell from 4.28% to 2.35%. Employee cost increased from 14.46% to 15.76%. Other expenses rose from 10.07% to 10.48%. Other income fell 0.25% to Rs 15.74 crore. PBIDT rose 11.08% to Rs 530.14 crore. Provision for interest rose 37.11% to Rs 55.86 crore. Loan funds declined from Rs 713.16 crore as of 31 March 2023 to Rs 535.25 crore as of 31 March 2024. Inventories declined from Rs 573.27 crore as of 31 March 2023 to Rs 527.03 crore as of 31 March 2024. Sundry debtors were higher at Rs 804.37 crore as of 31 March 2024 compared to Rs 640.90 crore as of 31 March 2023. Cash and bank balance rose to Rs 191.98 crore as of 31 March 2024 from Rs 161.92 crore as of 31 March 2023. Investments declined from Rs 451.14 crore as of 31 March 2023 to Rs 347.63 crore as of 31 March 2024. PBDT rose 8.65% to Rs 474.28 crore. Provision for depreciation rose 20.09% to Rs 165.8 crore. Fixed assets increased to Rs 1,177.00 crore as of 31 March 2024 from Rs 1,018.04 crore as of 31 March 2023. Intangible assets increased from Rs 92.93 crore to Rs 92.97 crore. Profit before tax grew 3.35% to Rs 308.48 crore. Provision for tax was expense of Rs 83.23 crore, compared to Rs 4.08 crore. Effective tax rate was 26.81% compared to 1.41%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 20.13% to Rs 227.22 crore. Equity capital stood at Rs 47.82 crore as of 31 March 2024 to Rs 47.82 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00. Promoters’ stake was 64.84% as of 31 March 2024 ,compared to 64.73% as of 31 March 2023 . Cash flow from operating activities decreased to Rs 286.85 crore for year ended March 2024 from Rs 387.51 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 252.03 crore, compared to Rs 250.73 crore during the year ended March 2023. Other highlights
The board has announced an interim dividend of Rs 0.50 per
equity share with a face value of Rs 2 each. The record date for this purpose
is set for February 12, 2025.
In Q3 FY25, Mechatronics and Aftermarket segment reported 6%
YoY growth supported by Strong domestic 2W demand. Information & Connected
Systems segment grew 9% YoY.
During 9M FY25, India contributed 88% to total sales, Europe
& North America 7%, and SE Asia 5%.
In Jan 2025, Minda Corporation formed a strategic
partnership with Flash Electronics to create the fastest-growing EV platform in
the country. Flash Electronics is a leading manufacturer of Powertrain & EV
Components to key automotive OEMs in India & overseas. As part of this
collaboration, the company has acquired a 49% equity stake in Flash
Electronics. Both companies bring complementary strengths. Minda Corporation
specialises in automotive body electronics, while Flash Electronics focuses on
automotive engine and powertrain electronics. This partnership will enable both
partners to build a diverse and expansive product portfolio.
Management Comments :
Mr. Ashok Minda, Chairman and Group CEO
said, "Spark Minda is navigating a dynamic industry landscape with a firm
commitment to building a sustainable, future-ready business. By strengthening
our foundation and accelerating investments in cutting-edge technology, we are
driving innovation and operational excellence. This strategic approach enables
us to adapt to industry shifts while delivering lasting value to our customers
and stakeholders. With a clear growth roadmap, we continue to enhance
efficiency, expand capabilities, and ensure long-term success."
| Minda Corporation : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,252.56 | 1,165.81 | 7.44 | 3,734.96 | 3,436.16 | 8.70 | 4,651.14 | 4,300.14 | 8.16 | | OPM (%) | 11.46 | 11.14 | 32 bps | 11.30 | 10.94 | 36 bps | 11.06 | 10.73 | 33 bps | | OP | 143.56 | 129.87 | 10.54 | 421.92 | 375.84 | 12.26 | 514.40 | 461.49 | 11.47 | | Other Inc. | 9.09 | 1.98 | 359.09 | 29.08 | 5.94 | 389.56 | 15.74 | 15.78 | -0.25 | | PBIDT | 152.65 | 131.85 | 15.78 | 451.00 | 381.78 | 18.13 | 530.14 | 477.27 | 11.08 | | Interest | 11.90 | 14.32 | -16.90 | 32.74 | 43.38 | -24.53 | 55.86 | 40.74 | 37.11 | | PBDT | 140.75 | 117.53 | 19.76 | 418.26 | 338.40 | 23.60 | 474.28 | 436.53 | 8.65 | | Depreciation | 50.36 | 41.73 | 20.68 | 147.5 | 122.17 | 20.73 | 165.8 | 138.06 | 20.09 | | PBT | 90.39 | 75.80 | 19.25 | 270.76 | 216.23 | 25.22 | 308.48 | 298.47 | 3.35 | | Share of Profit/(Loss) from Associates | 0.44 | 1.7 | -74.12 | 5.87 | 0.82 | 615.85 | 1.97 | -9.89 | LP | | PBT before EO | 90.83 | 77.5 | 17.20 | 276.63 | 217.05 | 27.45 | 310.45 | 288.58 | 7.58 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 90.83 | 77.5 | 17.20 | 276.63 | 217.05 | 27.45 | 310.45 | 288.58 | 7.58 | | Taxation | 26.03 | 25.01 | 4.08 | 73.29 | 60.58 | 20.98 | 83.23 | 4.08 | 1,939.95 | | PAT | 64.8 | 52.49 | 23.45 | 203.34 | 156.47 | 29.95 | 227.22 | 284.5 | -20.13 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 64.8 | 52.49 | 23.45 | 203.34 | 156.47 | 29.95 | 227.22 | 284.5 | -20.13 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 64.8 | 52.49 | 23.45 | 203.34 | 156.47 | 29.95 | 227.22 | 284.5 | -20.13 | | EPS (Rs)* | 2.71 | 2.20 | 23.45 | 8.51 | 6.54 | 29.95 | 9.50 | 11.90 | -20.13 | | | * EPS is on current equity of Rs 47.82 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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