Minda Corporation Ltd
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.
- Market Cap ₹ 11,929 Cr.
- Current Price ₹ 499
- High / Low ₹ 510 / 277
- Stock P/E 63.3
- Book Value ₹ 72.7
- Dividend Yield 0.24 %
- ROCE 14.4 %
- ROE 12.1 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has been maintaining a healthy dividend payout of 22.7%
Cons
- Stock is trading at 6.86 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
598 | 617 | 649 | 704 | 772 | 1,955 | 2,371 | 2,130 | 2,289 | 2,735 | 3,492 | 3,844 | |
543 | 556 | 577 | 618 | 693 | 1,748 | 2,090 | 1,888 | 2,077 | 2,468 | 3,134 | 3,407 | |
Operating Profit | 56 | 61 | 72 | 86 | 79 | 207 | 281 | 243 | 212 | 267 | 359 | 437 |
OPM % | 9% | 10% | 11% | 12% | 10% | 11% | 12% | 11% | 9% | 10% | 10% | 11% |
10 | 4 | 3 | 2 | 16 | 14 | 44 | -320 | 30 | 45 | 16 | 14 | |
Interest | 14 | 12 | 8 | 4 | 9 | 25 | 36 | 41 | 39 | 31 | 40 | 55 |
Depreciation | 17 | 22 | 17 | 18 | 20 | 49 | 62 | 82 | 90 | 103 | 110 | 136 |
Profit before tax | 35 | 31 | 49 | 65 | 67 | 148 | 228 | -201 | 114 | 178 | 225 | 260 |
Tax % | 24% | 30% | 29% | 29% | 18% | 31% | 30% | -20% | 26% | 10% | -7% | 28% |
27 | 22 | 35 | 46 | 55 | 103 | 161 | -241 | 84 | 160 | 241 | 188 | |
EPS in Rs | 1.27 | 1.04 | 1.67 | 2.22 | 2.61 | 4.90 | 7.07 | -10.61 | 3.50 | 6.70 | 10.06 | 7.88 |
Dividend Payout % | 15% | 19% | 24% | 18% | 19% | 12% | 10% | -3% | 19% | 15% | 12% | 41% |
Compounded Sales Growth | |
---|---|
10 Years: | 20% |
5 Years: | 10% |
3 Years: | 19% |
TTM: | 10% |
Compounded Profit Growth | |
---|---|
10 Years: | 23% |
5 Years: | 4% |
3 Years: | 31% |
TTM: | -29% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 36% |
3 Years: | 58% |
1 Year: | 70% |
Return on Equity | |
---|---|
10 Years: | 15% |
5 Years: | 15% |
3 Years: | 16% |
Last Year: | 12% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 20 | 20 | 42 | 42 | 42 | 42 | 45 | 45 | 48 | 48 | 48 | 48 |
Reserves | 250 | 267 | 271 | 305 | 372 | 642 | 1,087 | 816 | 974 | 1,120 | 1,332 | 1,690 |
Preference Capital | 19 | 19 | 19 | 19 | -0 | 5 | 5 | 5 | 5 | 5 | 5 | |
101 | 92 | 59 | 66 | 160 | 412 | 394 | 388 | 528 | 487 | 724 | 533 | |
142 | 150 | 121 | 149 | 148 | 404 | 456 | 616 | 651 | 584 | 740 | 735 | |
Total Liabilities | 514 | 529 | 492 | 561 | 722 | 1,500 | 1,982 | 1,866 | 2,201 | 2,239 | 2,844 | 3,006 |
111 | 139 | 124 | 129 | 160 | 414 | 445 | 532 | 575 | 646 | 786 | 954 | |
CWIP | 36 | 4 | 4 | 7 | 21 | 11 | 15 | 28 | 18 | 18 | 71 | 26 |
Investments | 104 | 176 | 185 | 200 | 293 | 310 | 352 | 150 | 150 | 327 | 704 | 598 |
263 | 210 | 178 | 224 | 249 | 764 | 1,170 | 1,157 | 1,458 | 1,248 | 1,283 | 1,428 | |
Total Assets | 514 | 529 | 492 | 561 | 722 | 1,500 | 1,982 | 1,866 | 2,201 | 2,239 | 2,844 | 3,006 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
23 | 117 | 50 | 88 | 34 | 43 | 191 | 296 | 85 | 140 | 375 | 242 | |
-34 | -95 | 5 | -44 | -150 | -128 | -432 | -149 | -259 | 27 | -452 | 144 | |
-28 | -25 | -51 | -8 | 73 | 84 | 238 | -134 | 172 | -160 | 108 | -354 | |
Net Cash Flow | -38 | -3 | 5 | 37 | -43 | -0 | -3 | 12 | -1 | 7 | 31 | 31 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
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 | 72 | 72 | 59 | 58 | 68 | 79 | 69 | 56 | 68 | 60 | 50 | 58 |
Inventory Days | 36 | 38 | 31 | 33 | 33 | 58 | 63 | 91 | 94 | 83 | 75 | 64 |
Days Payable | 82 | 74 | 56 | 69 | 69 | 89 | 84 | 120 | 124 | 93 | 93 | 85 |
Cash Conversion Cycle | 26 | 35 | 35 | 23 | 32 | 48 | 48 | 28 | 39 | 50 | 32 | 37 |
Working Capital Days | 65 | 29 | 37 | 20 | 24 | 54 | 50 | 14 | 52 | 58 | 45 | 76 |
ROCE % | 13% | 12% | 15% | 18% | 15% | 21% | 20% | 15% | 11% | 13% | 15% |
Documents
Announcements
- Schedule Of Analyst/Institutional Investor Meeting Intimation Under The SEBI (LODR) Regulations, 2015 23h
- Closure of Trading Window 27 Jun
- Intimation Of Signing Of Joint Venture Agreement By Minda Corporation With HSIN CHONG MACHINERY WORKS CO., LTD ('HCMF') In Accordance With Regulation 30 And Other Applicable Provisions Of The SEBI (LODR) Regulations, 2015 ("SEBI Listing Regulations") And Press Release 14 Jun
- Newspaper Clippings For Transfer Of Equity Shares Of The Company To The Investor Education And Protection Fund (IEPF) Account 14 Jun
- Regulation 30 Of The SEBI (LODR) Regulations, 2015 29 May
Annual reports
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Sustained Market Position
MCL is among the market leaders and commands a strong market share of around 40% in 2W lock sets, and wiring harness for 2W, 3W, tractors, and CVs. [1]