Minda Inds in the limelight

Minda Industries yesterday announced 126% (YoY) jump in consolidated net profit at Rs.121 crore on a 36% increase in revenue at Rs.1802 crore.

The EBITDA came in at Rs.264 crore, up 62% and margins rose 236 bps to 14.7% v/s 12.3% (YoY).

The company also declared an interim dividend of Rs 0.35 per share i.e. 17.5% of face value.

The company manufactures diverse auto components for Indian and International OEMs and the company said that the demand outlook is still intact and we are well poised to capitalize on this demand.

The stock is among the top five gainers of the day on the BSE. From its close of Rs.505.40, it opened higher at Rs.520 and went up further to intraday high at Rs.560, not too far from its 52-week high at Rs.579.40.