Minda Industries limited (‘MIL’) registered revenue of ₹ 1802 Cr in Q3 FY21 as against ₹ 1327 Cr for corresponding quarter i.e., Q3FY20, registering a rise of 36%

Minda Industries limited (‘MIL’) has announced its results for quarter ended December 31st, 2020. At a consolidated level, the company registered revenue of ₹ 1802 Cr in Q3 FY21 as against ₹ 1327 Cr for corresponding quarter i.e., Q3FY20, registering a rise of 36%. Auto industry has continued its growth momentum and that on the back of strong demand.

Most automotive industry segments have reported successive improvement in offtake throughout the second half of CY’20 on the back of initial bounce provided by pent-up demand aspect, followed by preference for affordable personal mobility. The mobility demand surge driven by COVID risk is expected to normalize as public transport restarts across regions.

The EBITDA for Q3 FY21 has been reported as ₹ 264 Cr vis-à-vis ₹163 Cr in Q3 FY20.

Profit before tax before exceptional items for Q3 FY21 was at ₹164 Cr as against ₹78 Cr in Q3 FY20. The rise in PBT is largely on account of higher operating leverage and relaxation of rules during COVID -19.

PAT (MIL Share) for the quarter is ₹ 108 Cr in Q3FY21 as against ₹45 Cr in Q3FY20 in corresponding quarter last year.

To reward and distribute wealth to its shareholders, The Board has also declared interim dividend of Rs 0.35 per share i.e. 17.5% of face value.

Minda Industries Ltd. Q3 FY21 Result Highlights:

• Q3 FY21 Consolidated Revenue of ₹ 1802 Cr., Y-O-Y growth 36%
• Q3 FY21 Consolidated EBITDA of ₹ 264 Cr., Y-O-Y growth 62%
• Q3 FY21 Consolidated PBT of ₹ 164 Cr., Y-O-Y growth 110%
• Q3 FY21 Consolidated PAT (MIL share) at ₹ 108 Cr., Y-O-Y growth 142%
• Declared Interim Dividend of Rs 0.35 per share i.e.17.50% of face value

Particulars	Q3 FY21	Q3 FY20	YoY %	Q2 FY21	QoQ
Revenue from Operation	1,802	1,327	36%	1,465	23%
EBITDA	264	163	62%	215	23%
Margin (%)	14.7%	12.3%	236 bps	14.7%	0 bps
PBT	164	78	110%	129	27%
Margin (%)	9.1%	5.9%	320 bps	8.8%	30 bps
PAT	121	53	126%	84	43%
Margin (%)	6.7%	4.0%	270 bps	5.8%	90 bps
PAT (MIL Share)	108	45	142%	81	34%
Margin (%)	6.0%	3.4%	260 bps	5.5%	50 bps
EPS (diluted) in Rs	4.07	1.70	138%	3.07	33%

Mr. Nirmal K Minda, CMD, Uno Minda Group says, “We’re happy to report an improvement in our overall performance during the quarter. We see the demand increase more than ever due to rise in preference for personal mobility. Localization has been one of the key pillar of our foundation. We believe that the Long term demand outlook is still intact and we are well poised to capitalize on this demand. We will continue to pursue our goal with new vigor as we will emerge much stronger from the current challenging environment.”

Sunil Bohra, CFO, Uno Minda Group says, “We have witnessed growth across all product portfolio. Healthy demand coupled with higher kit value per vehicles is enabling us to continue better than industry performance. During the quarter, we have been able to bring in more efficiencies on operational front as well as strengthened our balance sheet. We have worked hard to improve working capital efficiency and the strong free cashflow has helped us to reduce our net-debt to equity to 0.37 times as on December 2020 “.

About Minda Industries Limited:

Minda Industries Limited (MIL) is a flagship Company of UNO MINDA Group. UNO MINDA, a technology leader in Auto Components Industry is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures automobile components for Original Equipment Manufacturers (OEMs). It is an INR 72 billion (US$ 0.95 billion) Group as in 2019-20 and is rapidly expanding with growing market share across all its product lines. It endeavours to deliver high technology and quality products to its customers globally.

For more information about the Group and its businesses, please visit website at http://www.unominda.com