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 35.2
  • Book Value ₹ 78.5
  • Dividend Yield 0.29 %
  • ROCE 16.5 %
  • ROE 19.6 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 17.3%

Cons

  • Stock is trading at 5.22 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

Consolidated Figures in Rs. Crores / View Standalone

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
740 794 559 731 738 948 1,010 1,147 1,068 1,075 1,075 1,196 1,166
658 747 528 654 660 840 904 1,023 954 958 960 1,065 1,036
Operating Profit 82 47 31 77 79 108 107 124 114 117 115 131 130
OPM % 11% 6% 6% 11% 11% 11% 11% 11% 11% 11% 11% 11% 11%
15 7 10 8 37 5 4 4 5 2 2 2 2
Interest 10 8 7 8 8 7 8 10 11 12 14 15 14
Depreciation 24 24 25 27 27 33 32 34 34 39 39 41 42
Profit before tax 63 23 8 50 80 72 71 85 74 69 63 77 76
Tax % 22% 68% 16% 27% 16% -5% 26% 25% 26% -80% 27% 24% 33%
49 13 7 39 70 76 52 58 52 122 45 59 52
EPS in Rs 2.07 0.54 0.30 1.63 2.92 3.17 2.20 2.42 2.19 5.10 1.89 2.46 2.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,385 2,167 1,590 1,965 2,435 2,060 2,594 3,092 2,223 2,368 2,976 4,300 4,511
1,250 2,058 1,463 1,778 2,206 1,868 2,316 2,797 2,309 2,148 2,680 3,837 4,018
Operating Profit 136 109 127 188 229 192 278 295 -86 220 296 463 493
OPM % 10% 5% 8% 10% 9% 9% 11% 10% -4% 9% 10% 11% 11%
2 33 44 23 29 27 27 80 54 -8 56 16 8
Interest 27 42 28 39 37 30 40 51 41 39 32 42 55
Depreciation 45 77 48 60 74 58 74 88 87 94 112 138 161
Profit before tax 65 22 96 111 147 131 191 236 -160 80 208 298 285
Tax % 21% 78% 18% 24% 25% 22% 25% 28% -25% 39% 12% 1%
52 5 79 88 110 102 143 169 -200 53 192 284 278
EPS in Rs 2.48 0.29 3.79 4.28 5.12 4.88 6.82 7.45 -8.79 2.21 8.03 11.90 11.65
Dividend Payout % 12% 68% 5% 9% 10% 10% 9% 9% -4% 29% 12% 10%
Compounded Sales Growth
10 Years: 7%
5 Years: 11%
3 Years: 25%
TTM: 8%
Compounded Profit Growth
10 Years: 49%
5 Years: 15%
3 Years: 51%
TTM: 17%
Stock Price CAGR
10 Years: %
5 Years: 26%
3 Years: 62%
1 Year: 53%
Return on Equity
10 Years: 12%
5 Years: 9%
3 Years: 15%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 41 42 42 42 45 45 48 48 48 48
Reserves 313 307 350 406 507 580 694 1,145 925 1,094 1,278 1,538 1,829
Preference Capital 19 19 19 19 19 0 5 5 5 5 5 5
476 532 552 502 543 549 723 681 620 528 506 713 765
383 414 390 472 680 377 592 571 736 658 736 910 964
Total Liabilities 1,192 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 3,209 3,606
487 466 527 571 719 530 711 732 570 613 887 1,026 1,088
CWIP 11 68 15 15 13 74 16 21 28 18 32 85 93
Investments 19 0 25 29 5 126 139 165 176 180 64 451 683
676 739 746 807 1,034 818 1,184 1,524 1,552 1,517 1,583 1,647 1,742
Total Assets 1,192 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 3,209 3,606

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-23 31 -18 304 226 48 70 209 450 86 167 387
-121 -60 -136 -53 -158 -158 -200 -402 -137 -192 12 -425
185 11 133 -238 -29 67 122 203 -249 65 -161 74
Net Cash Flow 40 -18 -20 13 39 -43 -8 11 64 -42 18 37

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 68 51 67 59 65 66 80 64 64 68 70 54
Inventory Days 102 71 70 70 78 91 105 86 108 97 93 75
Days Payable 102 68 93 94 104 79 103 79 139 124 110 95
Cash Conversion Cycle 68 54 44 36 40 79 82 71 33 41 53 34
Working Capital Days 43 39 61 53 41 57 58 49 41 56 65 47
ROCE % 16% 8% 12% 16% 16% 12% 18% 16% -7% 10% 12% 16%

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.

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