Minda Industries on a roll

Minda Industries rose 6% to an intra day high at Rs.877.50. The stock’s 52-week high stands at Rs.996. This surge is on the back of very good Q3FY16 performance.

The company for the quarter posted a whopping 122% (YoY) jump in consolidated net profit at Rs.29 crore, on a 13% rise in sales at Rs.626 crore. EBITDA for the quarter was up 51% and margins expanded 268 bps to 10.6%.

Its 9MFY16 net profit was at Rs.69 crore and this is already at the 12MFY15 full fiscal net profit of Rs.68 crore, indicating that it will end the year on a much higher note.

The company has stated that its operations have begun at Carlton’s new facility at Mexico on CKD basis. Its lighting division has received new orders for Jaguar/Land Rover model in India. Its switch business has started supply of switch set to KTM, Austria.