Minda Industries Ltd

Minda Industries is a supplier of automotive solutions to original equipment manufacturers. The Company offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.

Pros:
Company is expected to give good quarter
Company has good consistent profit growth of 117.89% over 5 years
Cons:

Peer Comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
755 896 838 897 945 1,098 1,056 1,371 1,430 1,522 1,470 1,486
682 799 739 792 844 962 930 1,233 1,260 1,332 1,290 1,301
Operating Profit 73 97 99 105 101 137 126 138 170 189 180 185
OPM % 10% 11% 12% 12% 11% 12% 12% 10% 12% 12% 12% 12%
Other Income 2 1 8 3 9 4 8 82 6 5 3 13
Interest 13 10 9 8 8 6 7 14 13 15 15 20
Depreciation 28 36 36 36 36 38 42 49 49 56 61 68
Profit before tax 34 51 62 64 67 96 85 157 114 123 108 110
Tax % 25% 27% 20% 18% 32% 31% 29% 14% 29% 32% 26% 30%
Net Profit 28 42 44 56 48 67 59 135 70 73 69 74
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
620 954 1,179 1,340 1,706 2,232 2,527 3,386 4,471 5,908
553 870 1,125 1,250 1,628 2,078 2,290 3,012 3,969 5,183
Operating Profit 66 84 54 90 78 154 238 374 502 725
OPM % 11% 9% 5% 7% 5% 7% 9% 11% 11% 12%
Other Income 7 15 31 14 18 33 19 14 103 27
Interest 15 17 20 19 24 25 26 40 35 63
Depreciation 27 34 40 46 59 83 93 136 165 234
Profit before tax 31 48 25 39 13 79 139 212 405 455
Tax % 25% 26% 1% 28% 59% 25% 20% 22% 24% 29%
Net Profit 23 36 29 28 7 68 111 165 310 286
EPS in Rs 1.42 1.71 1.14 1.15 0.26 2.77 4.57 6.94 11.88 10.89
Dividend Payout % 13% 11% 17% 17% 66% 14% 10% 11% 8% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:28.20%
3 Years:32.72%
TTM:32.16%
Compounded Profit Growth
10 Years:%
5 Years:117.89%
3 Years:39.60%
TTM:1.40%
Return on Equity
10 Years:%
5 Years:22.10%
3 Years:22.39%
Last Year:18.27%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
57 57 19 19 19 19 19 16 37 55
Reserves 82 142 267 289 292 346 452 744 1,374 1,652
Borrowings 145 173 183 198 304 232 393 510 594 1,080
190 236 260 311 378 425 650 1,152 1,425 1,524
Total Liabilities 427 564 726 814 990 1,019 1,511 2,421 3,410 4,308
230 250 275 319 401 411 573 885 1,350 1,861
CWIP 3 7 5 42 22 9 130 117 211 150
Investments 8 19 23 22 47 28 44 111 155 356
186 288 423 432 520 570 765 1,308 1,694 1,941
Total Assets 427 564 726 814 990 1,019 1,511 2,421 3,410 4,308

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
88 45 77 95 42 135 146 335 364 414
-84 -32 -26 -118 -137 -39 -257 -267 -640 -815
6 -4 -8 -5 80 -98 123 253 44 368
Net Cash Flow 10 9 44 -28 -15 -2 13 320 -232 -33

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 19% 7% 11% 6% 14% 21% 23% 25% 22%
Debtor Days 53 50 61 59 56 47 53 54 64 56
Inventory Turnover 14.36 14.33 15.74 15.93 16.83 15.58 16.07 13.65 12.08