Minda Corporation Ltd

About

Minda Corporation Limited is a holding company. The Company manufactures auto components/accessories from various locations in India.

  • Market Cap 1,547 Cr.
  • Current Price 68.1
  • High / Low 122 / 52.6
  • Stock P/E 42.0
  • Book Value 42.9
  • Dividend Yield 0.51 %
  • ROCE 11.2 %
  • ROE -0.39 %
  • Face Value 2.00

Pros

  • Debtor days have improved from 65.12 to 50.58 days.

Cons

  • The company has delivered a poor growth of 7.44% over past five years.
  • Company has a low return on equity of 10.88% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
655 636 721 778 773 769 771 584 735 671 536 178
580 564 643 705 691 714 689 527 667 595 521 204
Operating Profit 75 72 77 73 82 55 82 57 68 76 16 -26
OPM % 11% 11% 11% 9% 11% 7% 11% 10% 9% 11% 3% -15%
Other Income 9 8 9 10 17 41 13 10 12 20 -275 10
Interest 9 10 11 11 12 13 13 10 10 11 11 8
Depreciation 19 19 20 21 22 21 24 21 28 30 22 20
Profit before tax 56 50 56 51 66 62 58 35 42 55 -293 -44
Tax % 26% 24% 31% 26% 30% 27% 28% 40% 12% 24% -2% 20%
Net Profit 42 38 39 38 46 45 42 21 37 42 -300 -35
EPS in Rs 2.01 1.81 1.85 1.65 2.04 1.97 1.84 0.93 1.63 1.83 -13.19 -1.56
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
440 515 738 1,385 2,167 1,590 1,965 2,435 2,060 2,594 3,092 2,813 2,121
409 481 654 1,250 2,059 1,466 1,780 2,208 1,868 2,316 2,798 2,558 1,987
Operating Profit 32 34 84 136 108 124 186 227 192 278 294 256 134
OPM % 7% 7% 11% 10% 5% 8% 9% 9% 9% 11% 10% 9% 6%
Other Income 14 16 4 2 34 47 25 31 27 27 81 -238 -234
Interest 13 13 26 27 42 28 39 37 30 40 51 54 40
Depreciation 13 14 17 45 77 48 60 74 58 74 88 118 100
Profit before tax 19 23 45 65 22 96 111 147 131 191 236 -154 -240
Tax % 15% 16% 23% 21% 78% 18% 24% 25% 22% 25% 28% -29%
Net Profit 16 19 35 52 6 79 90 107 102 143 169 -200 -256
EPS in Rs 0.93 1.11 1.80 2.48 0.29 3.79 4.28 5.12 4.88 6.82 7.45 -8.79 -11.29
Dividend Payout % 11% 11% 8% 12% 68% 5% 9% 10% 10% 9% 9% -4%
Compounded Sales Growth
10 Years:19%
5 Years:7%
3 Years:11%
TTM:-27%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-74%
Stock Price CAGR
10 Years:%
5 Years:-2%
3 Years:-22%
1 Year:-32%
Return on Equity
10 Years:14%
5 Years:13%
3 Years:11%
Last Year:-0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
9 9 24 40 40 39 61 61 42 46 50 50
Reserves 48 64 246 313 307 350 406 507 580 694 1,145 925
Borrowings 207 245 246 476 532 552 502 543 549 723 681 620
81 119 225 383 414 390 472 680 377 592 571 736
Total Liabilities 344 436 727 1,192 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327
133 154 255 487 466 527 571 719 530 711 732 570
CWIP 13 20 10 11 68 15 15 13 74 16 21 28
Investments 44 37 4 19 -0 25 29 5 126 139 165 176
154 225 459 676 739 746 807 1,034 818 1,184 1,524 1,552
Total Assets 344 436 727 1,192 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
39 9 47 -23 31 -18 304 226 48 70 209 450
-24 -35 -94 -121 -60 -136 -53 -158 -158 -200 -402 -137
-7 24 49 185 11 133 -238 -29 67 122 203 -249
Net Cash Flow 8 -2 2 40 -18 -20 13 39 -43 -8 11 64

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 18% 12% 16% 16% 8% 12% 16% 17% 13% 18% 16% 11%
Debtor Days 35 55 90 68 51 67 59 65 66 80 64 51
Inventory Turnover 9.88 5.48 5.93 5.35 5.61 4.58 5.91 5.58 4.04 4.27 4.40 4.19

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
70.21 70.21 64.67 64.67 64.67 68.02 68.08 68.10 68.10 68.10 68.10 68.10
2.25 2.65 6.27 6.53 7.32 7.51 7.97 8.45 8.56 8.85 5.97 6.33
5.42 5.37 6.35 6.69 7.19 7.24 7.22 5.90 5.52 5.46 7.50 5.60
19.57 19.22 20.35 19.81 18.57 15.03 14.53 15.39 15.71 15.49 16.35 17.92
2.55 2.55 2.35 2.30 2.24 2.21 2.20 2.15 2.11 2.09 2.07 2.05

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