Minda Corporation Ltd

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

Minda Corporation Ltd

₹ 212 6.63%
29 Mar - close price
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

Product Portfolio
The product portfolio of different segments include:
- Mechatronics - ignition switch cum steering locks, smart key systems, mechatronics handles, immobilizers systems, aluminum high-pressure die casting, and compressor housing.[1]

  • Information and Connected systems - speedometers, wiring harness, steering roll connector, and junction box; sensors, innovative tech solutions and IoT solutions. [2]
Website BSE NSE
  • Market Cap ₹ 5,087 Cr.
  • Current Price ₹ 212
  • High / Low ₹ 287 / 164
  • Stock P/E 21.3
  • Book Value ₹ 59.8
  • Dividend Yield 0.47 %
  • ROCE 11.8 %
  • ROE 13.5 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 3.55 times its book value
  • Promoter holding has decreased over last quarter: -1.11%
  • The company has delivered a poor sales growth of 7.64% over past five years.
  • Company has a low return on equity of 0.63% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 12.6% of profits over last 3 years

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
544 536 178 656 740 794 559 731 738 948 1,010 1,147 1,068
474 814 204 591 658 747 528 654 660 840 904 1,023 954
Operating Profit 70 -278 -26 65 82 47 31 77 79 108 107 124 114
OPM % 13% -52% -15% 10% 11% 6% 6% 11% 11% 11% 11% 11% 11%
16 18 10 7 15 7 10 8 37 5 4 4 5
Interest 8 11 8 11 10 8 7 8 8 7 8 10 11
Depreciation 22 22 20 25 24 24 25 27 27 33 32 34 34
Profit before tax 55 -293 -44 37 63 23 8 50 80 72 71 85 74
Tax % 25% -2% 20% 29% 22% 68% 16% 27% 16% -5% 26% 25% 26%
Net Profit 42 -300 -35 26 49 13 7 39 70 76 52 58 52
EPS in Rs 1.83 -13.19 -1.56 1.14 2.07 0.54 0.30 1.63 2.92 3.17 2.20 2.42 2.19
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
738 1,385 2,167 1,590 1,965 2,435 2,060 2,594 3,092 2,223 2,368 2,976 4,173
654 1,250 2,058 1,463 1,778 2,206 1,868 2,316 2,797 2,309 2,189 2,680 3,721
Operating Profit 84 136 109 127 188 229 192 278 295 -86 179 296 452
OPM % 11% 10% 5% 8% 10% 9% 9% 11% 10% -4% 8% 10% 11%
4 2 33 44 23 29 27 27 80 54 33 56 18
Interest 26 27 42 28 39 37 30 40 51 41 39 32 36
Depreciation 17 45 77 48 60 74 58 74 88 87 94 112 132
Profit before tax 45 65 22 96 111 147 131 191 236 -160 80 208 302
Tax % 23% 21% 78% 18% 24% 25% 22% 25% 28% -25% 39% 12%
Net Profit 35 52 5 79 88 110 102 143 169 -200 53 192 238
EPS in Rs 1.80 2.48 0.29 3.79 4.28 5.12 4.88 6.82 7.45 -8.79 2.21 8.03 9.98
Dividend Payout % 8% 12% 68% 5% 9% 10% 10% 9% 9% -4% 29% 12%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: -1%
TTM: 48%
Compounded Profit Growth
10 Years: 10%
5 Years: 13%
3 Years: 2%
TTM: 134%
Stock Price CAGR
10 Years: 22%
5 Years: 4%
3 Years: 53%
1 Year: 4%
Return on Equity
10 Years: 9%
5 Years: 6%
3 Years: 1%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
24 40 40 39 61 61 42 46 50 50 52 52 48
Reserves 246 313 307 350 406 507 580 694 1,145 925 1,094 1,278 1,381
246 476 532 552 502 543 549 723 681 620 528 506 591
225 383 414 390 472 680 377 592 571 736 658 736 897
Total Liabilities 727 1,192 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 2,917
255 487 466 527 571 719 530 711 732 570 613 887 940
CWIP 10 11 68 15 15 13 74 16 21 28 18 32 74
Investments 4 19 0 25 29 5 126 139 165 176 180 64 59
459 676 739 746 807 1,034 818 1,184 1,524 1,552 1,517 1,583 1,844
Total Assets 727 1,192 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 2,917

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
47 -23 31 -18 304 226 48 70 209 450 86 167
-94 -121 -60 -136 -53 -158 -158 -200 -402 -137 -192 12
49 185 11 133 -238 -29 67 122 203 -249 65 -161
Net Cash Flow 2 40 -18 -20 13 39 -43 -8 11 64 -42 18

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 90 68 51 67 59 65 66 80 64 64 68 70
Inventory Days 73 102 71 70 70 78 91 105 86 108 97 93
Days Payable 125 102 68 93 94 104 79 103 79 139 124 110
Cash Conversion Cycle 38 68 54 44 36 40 79 82 71 33 41 53
Working Capital Days 54 43 39 61 53 41 57 58 49 41 56 65
ROCE % 16% 16% 8% 12% 16% 17% 13% 18% 16% -7% 7% 12%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
68.10 68.10 68.10 64.73 64.73 64.73 64.73 64.73 64.73 64.73 64.72 64.72
8.85 5.97 6.33 6.04 6.38 5.61 4.99 5.14 4.49 3.69 4.39 3.61
5.46 7.50 5.60 9.90 10.57 12.86 12.52 13.01 13.39 13.96 13.58 13.84
15.49 16.35 17.92 17.40 16.42 14.96 15.95 15.36 15.63 15.90 15.61 16.14
2.09 2.07 2.05 1.93 1.90 1.85 1.80 1.77 1.76 1.72 1.68 1.68

* 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.

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