Minda Corporation Ltd

Minda Corp Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Minda Corporation Ltd

₹ 410 -1.12%
25 Apr 4:01 p.m.
minda.co.in BSE: 538962 NSE : MINDACORP
About

Minda Corporation Ltd is one of the leading automotive component manufacturing companies in India with a pan-India presence and international footprint.
It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group.[1]

The company was formed after a split between the businesses of the Minda brothers in 2012. Presently, NK Minda owns and operates Minda Industries Ltd and Ashok Minda is the owner of Minda Corporation Ltd. [2] Both the companies are listed on the exchanges.

Key Points

Sustained Market Position
MCL is among the market leaders and commands a strong market share of around 40% in 2W lock sets, and wiring harness for 2W, 3W, tractors, and CVs. [1]

Website BSE NSE
  • Market Cap ₹ 9,800 Cr.
  • Current Price ₹ 410
  • High / Low ₹ 450 / 262
  • Stock P/E 37.3
  • Book Value ₹ 69.0
  • Dividend Yield 0.29 %
  • ROCE 15.4 %
  • ROE 20.9 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Stock is trading at 5.94 times its book value
  • Tax rate seems low

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
716 768 530 705 714 786 830 908 869 885 880 990 969
639 681 503 629 637 700 746 815 779 795 789 879 856
Operating Profit 78 86 27 75 77 86 84 94 90 89 91 111 113
OPM % 11% 11% 5% 11% 11% 11% 10% 10% 10% 10% 10% 11% 12%
8 6 7 13 4 22 3 6 3 4 2 2 2
Interest 10 8 7 8 8 7 8 9 10 12 14 15 14
Depreciation 23 23 24 26 26 26 25 27 27 31 32 34 34
Profit before tax 53 61 2 55 46 75 55 64 56 51 47 64 67
Tax % 25% 25% 27% 23% 26% -10% 25% 24% 27% -119% 26% 26% 34%
40 46 1 42 34 83 41 48 41 111 35 48 44
EPS in Rs 1.66 1.92 0.06 1.75 1.43 3.46 1.70 2.03 1.71 4.63 1.46 2.00 1.85
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
559 598 617 649 704 772 1,955 2,371 2,130 2,289 2,735 3,492 3,725
498 543 556 577 618 693 1,748 2,090 1,888 2,077 2,468 3,134 3,320
Operating Profit 61 56 61 72 86 79 207 281 243 212 267 359 405
OPM % 11% 9% 10% 11% 12% 10% 11% 12% 11% 9% 10% 10% 11%
8 10 4 3 2 16 14 44 -320 30 45 16 10
Interest 13 14 12 8 4 9 25 36 41 39 31 40 55
Depreciation 14 17 22 17 18 20 49 62 82 90 103 110 131
Profit before tax 42 35 31 49 65 67 148 228 -201 114 178 225 228
Tax % 4% 24% 30% 29% 29% 18% 31% 30% -20% 26% 10% -7%
40 27 22 35 46 55 103 161 -241 84 160 241 238
EPS in Rs 1.92 1.27 1.04 1.67 2.22 2.61 4.90 7.07 -10.61 3.50 6.70 10.06 9.94
Dividend Payout % 15% 15% 19% 24% 18% 19% 12% 10% -3% 19% 15% 12%
Compounded Sales Growth
10 Years: 19%
5 Years: 12%
3 Years: 18%
TTM: 10%
Compounded Profit Growth
10 Years: 25%
5 Years: 21%
3 Years: 15%
TTM: 24%
Stock Price CAGR
10 Years: %
5 Years: 26%
3 Years: 62%
1 Year: 53%
Return on Equity
10 Years: 16%
5 Years: 16%
3 Years: 15%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 20 20 20 42 42 42 42 45 45 48 48 48 48
Reserves 228 250 267 271 305 372 642 1,087 816 974 1,120 1,332 1,602
Preference Capital 19 19 19 19 19 0 5 5 5 5 5 5
108 101 92 59 66 160 412 394 388 528 487 724 762
141 142 150 121 149 148 404 456 616 651 584 740 780
Total Liabilities 498 514 529 492 561 722 1,500 1,982 1,866 2,201 2,239 2,844 3,192
103 111 139 124 129 160 414 445 532 575 646 786 849
CWIP 10 36 4 4 7 21 11 15 28 18 18 71 56
Investments 89 104 176 185 200 293 310 352 150 150 327 704 936
296 263 210 178 224 249 764 1,170 1,157 1,458 1,248 1,283 1,351
Total Assets 498 514 529 492 561 722 1,500 1,982 1,866 2,201 2,239 2,844 3,192

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-4 23 117 50 88 34 43 191 296 85 140 375
-39 -34 -95 5 -44 -150 -128 -432 -149 -259 27 -452
83 -28 -25 -51 -8 73 84 238 -134 172 -160 108
Net Cash Flow 40 -38 -3 5 37 -43 -0 -3 12 -1 7 31

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 66 72 72 59 58 68 79 69 56 68 60 50
Inventory Days 52 36 38 31 33 33 58 63 91 94 83 75
Days Payable 94 82 74 56 69 69 89 84 120 124 93 93
Cash Conversion Cycle 24 26 35 35 23 32 48 48 28 39 50 32
Working Capital Days 53 65 29 37 20 24 54 50 14 52 58 45
ROCE % 18% 13% 12% 15% 18% 15% 21% 20% 15% 11% 13% 15%

Shareholding Pattern

Numbers in percentages

11 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
64.73% 64.73% 64.73% 64.73% 64.73% 64.72% 64.72% 64.72% 64.72% 64.84% 64.84% 64.84%
5.61% 4.99% 5.14% 4.49% 3.69% 4.39% 3.61% 5.06% 5.74% 5.53% 3.73% 5.07%
12.86% 12.52% 13.01% 13.39% 13.96% 13.58% 13.84% 11.83% 11.88% 13.20% 16.81% 20.60%
14.96% 15.95% 15.36% 15.63% 15.90% 15.61% 16.14% 16.68% 15.99% 14.78% 12.99% 7.90%
1.85% 1.80% 1.77% 1.76% 1.72% 1.68% 1.68% 1.68% 1.65% 1.65% 1.62% 1.59%
No. of Shareholders 50,76764,50975,06083,65396,66695,26398,93490,24292,32096,38798,2381,00,689

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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