Growth Momentum Continues in Q1 FY17:Consolidated Sales Grew by 44% YoY to Rs.767 Cr

By 121 News

Chandigarh 12^th August:-  Minda Industries posted robust results for Q1 FY17, maintaining its growth momentum. The consolidated revenue stood at Rs.767Cr for Q1 FY17 as against Rs.533 Cr in Q1 FY16 recording a growth of 44%YOY.

The company reported EBITDA of Rs.72Cr, a growth of 112% year on year. EBITDA margin has expanded by 303basis points to 9.4% for Q1 FY17. PBT (Before Exceptional item) for the consolidated entity grew to Rs.34 Cr for Q1 FY17 as against Rs. 16 Cr for Q1 FY16, growth of 113% year on year.

Profit after Tax and Minority Interest increased by 99% year on year from Rs. 27 Cr in Q1 FY17to Rs. 14 Cr in Q1 FY16. PAT after MI margin at 3.5% in Q1 FY17 from 2.6% in Q1 FY16, an expansion of 97basis points during the year.

EPS for the company is at Rs. 17.09 per share during Q1 FY17 as compared to Rs.8.60 per share in Q1 FY16.

As part of group realignment, MIL board has approved acquisition of 49% equity shares in Roki Minda Co.Pvt. Ltd. for a consideration of ₹42.50 Cr. The shares have been purchased at 10.50 per share, having a face value of Rs 10 each. Roki Minda will be consolidated with MIL with effect from October 1, 2016. Roki Minda is a leading manufacturer of air filtration system & Canisters for 2W/4 W. The company had a turnover of ~215 Cr with a PAT of 6 Cr in FY 2015-16.

This company was incorporated in 2012 as a joint venture with Roki Co. Ltd, Japan which holds 51% equity shares.