Minda Corporation Ltd

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

Minda Corporation Ltd

₹ 528 -1.84%
13 Dec - 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

Market Position
The company commands a market share of ~40% in 2W lock sets, and wiring harness for 2W, 3W, tractors, and CVs. [1]

Website BSE NSE
  • Market Cap ₹ 12,626 Cr.
  • Current Price ₹ 528
  • High / Low ₹ 653 / 366
  • Stock P/E 48.2
  • Book Value ₹ 87.9
  • Dividend Yield 0.27 %
  • ROCE 15.2 %
  • ROE 12.8 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 6.01 times its book value

* 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

Part of BSE 250 SmallCap Index Nifty 500 BSE Allcap BSE Consumer Discretionary BSE 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
731 738 948 1,010 1,147 1,068 1,075 1,075 1,196 1,166 1,215 1,192 1,290
654 660 840 904 1,023 954 958 960 1,065 1,036 1,076 1,061 1,143
Operating Profit 77 79 108 107 124 114 117 115 131 130 139 132 147
OPM % 11% 11% 11% 11% 11% 11% 11% 11% 11% 11% 11% 11% 11%
8 37 5 4 4 5 2 2 2 2 10 8 12
Interest 8 8 7 8 10 11 12 14 15 14 12 10 11
Depreciation 27 27 33 32 34 34 39 39 41 42 44 46 51
Profit before tax 50 80 72 71 85 74 69 63 77 76 92 84 96
Tax % 27% 16% -5% 26% 25% 26% -80% 27% 24% 33% 25% 26% 26%
39 70 76 52 58 52 122 45 59 52 71 64 74
EPS in Rs 1.63 2.92 3.17 2.20 2.42 2.19 5.10 1.89 2.46 2.20 2.96 2.69 3.11
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,167 1,590 1,965 2,435 2,060 2,594 3,092 2,223 2,368 2,976 4,300 4,651 4,863
2,058 1,463 1,778 2,206 1,868 2,316 2,797 2,309 2,148 2,680 3,837 4,134 4,316
Operating Profit 109 127 188 229 192 278 295 -86 220 296 463 517 547
OPM % 5% 8% 10% 9% 9% 11% 10% -4% 9% 10% 11% 11% 11%
33 44 23 29 27 27 80 54 -8 56 16 15 32
Interest 42 28 39 37 30 40 51 41 39 32 42 57 48
Depreciation 77 48 60 74 58 74 88 87 94 112 138 166 182
Profit before tax 22 96 111 147 131 191 236 -160 80 208 298 308 348
Tax % 78% 18% 24% 25% 22% 25% 28% 25% 39% 12% 1% 27%
5 79 88 110 102 143 169 -200 53 192 284 227 262
EPS in Rs 0.29 3.79 4.28 5.12 4.88 6.82 7.45 -8.79 2.21 8.03 11.90 9.50 10.96
Dividend Payout % 68% 5% 9% 10% 10% 9% 9% -4% 29% 12% 10% 15%
Compounded Sales Growth
10 Years: 11%
5 Years: 9%
3 Years: 25%
TTM: 10%
Compounded Profit Growth
10 Years: 13%
5 Years: 8%
3 Years: 35%
TTM: -6%
Stock Price CAGR
10 Years: %
5 Years: 42%
3 Years: 46%
1 Year: 38%
Return on Equity
10 Years: 12%
5 Years: 9%
3 Years: 15%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 20 20 41 42 42 42 45 45 48 48 48 48 48
Reserves 307 350 406 507 580 694 1,145 925 1,094 1,278 1,538 1,928 2,054
551 572 521 562 549 728 685 625 532 511 718 540 534
395 370 453 660 377 587 566 732 654 731 905 911 1,046
Total Liabilities 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 3,209 3,427 3,682
466 527 571 719 530 711 732 570 613 887 1,026 1,207 1,274
CWIP 68 15 15 13 74 16 21 28 18 32 85 63 71
Investments 0 25 29 5 126 139 165 176 180 64 451 348 391
739 746 807 1,034 818 1,184 1,524 1,552 1,517 1,583 1,647 1,809 1,946
Total Assets 1,273 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 3,209 3,427 3,682

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
31 -18 304 226 48 70 209 450 86 167 387 287
-60 -136 -53 -158 -158 -200 -402 -137 -192 12 -425 116
11 133 -238 -29 67 122 203 -249 65 -161 74 -358
Net Cash Flow -18 -20 13 39 -43 -8 11 64 -42 18 37 44

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 51 67 59 65 66 80 64 64 68 70 54 63
Inventory Days 71 70 70 78 91 105 86 108 97 93 75 66
Days Payable 68 93 94 104 79 103 79 139 124 110 95 89
Cash Conversion Cycle 54 44 36 40 79 82 71 33 41 53 34 40
Working Capital Days 39 61 53 41 57 58 49 41 56 65 47 50
ROCE % 8% 12% 16% 16% 12% 18% 16% -7% 10% 12% 16% 15%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
64.73% 64.73% 64.73% 64.72% 64.72% 64.72% 64.72% 64.84% 64.84% 64.84% 64.84% 64.84%
5.14% 4.49% 3.69% 4.39% 3.61% 5.06% 5.74% 5.53% 3.73% 5.07% 6.07% 7.62%
13.01% 13.39% 13.96% 13.58% 13.84% 11.83% 11.88% 13.20% 16.81% 20.60% 20.63% 18.87%
15.36% 15.63% 15.90% 15.61% 16.14% 16.68% 15.99% 14.78% 12.99% 7.90% 6.86% 7.07%
1.77% 1.76% 1.72% 1.68% 1.68% 1.68% 1.65% 1.65% 1.62% 1.59% 1.59% 1.59%
No. of Shareholders 75,06083,65396,66695,26398,93490,24292,32096,38798,2381,00,68989,45993,906

* 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.

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