For the quarter ending dec
2022, consolidated Net sales (including other operating income) of Minda Corporation has increased 44.70% to Rs 1068.29 crore compared to quarter ended Dec 2021. Operating profit margin has jumped from 10.66% to 10.68%, leading to 44.96% rise in operating profit to Rs 114.10 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 57.61% to 60.30%. Purchase of finished goods cost fell from 5.83% to 4.82%. Employee cost decreased from 15.75% to 14.72%. Other expenses fell from 10.24% to 9.49%. Other income rose 6.82% to Rs 4.7 crore. PBIDT rose 42.94% to Rs 118.8 crore. Provision for interest rose 28.50% to Rs 10.91 crore.
PBDT rose 44.59% to Rs 107.89 crore. Provision for depreciation rose 26.01% to Rs 34.01 crore.
Profit before tax grew 55.11% to Rs 73.88 crore. EO income was Rs 0 compared to Rs 32.74 crore. Provision for tax was expense of Rs 19.45 crore, compared to Rs 12.64 crore. Effective tax rate was 27.12% compared to 15.32%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 25.18% to Rs 52.26 crore. Promoters’ stake was 64.73% as of 31 December 2022 ,compared to 64.73% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Minda Corporation has increased 59.04% to Rs 3225.59 crore.
Operating profit margin has jumped from 9.21% to 10.68%, leading to 84.43% rise in operating profit to Rs 344.56 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 57.61% to 61.06%. Purchase of finished goods cost fell from 4.92% to 4.43%. Employee cost decreased from 16.91% to 14.14%. Other expenses fell from 11.35% to 9.75%. Other income fell 31.68% to Rs 13.39 crore. PBIDT rose 73.41% to Rs 357.95 crore. Provision for interest rose 23.06% to Rs 28.87 crore.
PBDT rose 79.86% to Rs 329.08 crore. Provision for depreciation rose 25.73% to Rs 99.5 crore.
Profit before tax grew 121.13% to Rs 229.58 crore. Provision for tax was expense of Rs 59.14 crore, compared to Rs 27.62 crore. Effective tax rate was 26.68% compared to 19.23%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 40.11% to Rs 162.56 crore.
Promoters’ stake was 64.73% as of 31 December 2022 ,compared to 64.73% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Minda Corporation has increased 25.68% to Rs 2975.94 crore. Operating profit margin has jumped from 9.16% to 9.90%, leading to 35.74% rise in operating profit to Rs 294.56 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 59.11% to 58.23%. Purchase of finished goods cost rose from 4.33% to 4.63%. Employee cost increased from 15.99% to 16.01%. Other expenses fell from 11.52% to 11.19%. Other income fell 27.26% to Rs 24.15 crore. PBIDT rose 27.38% to Rs 318.71 crore. Provision for interest fell 13.63% to Rs 30.93 crore. Loan funds declined from Rs 527.66 crore as of 31 March 2021 to Rs 505.98 crore as of 31 March 2022. Inventories rose to Rs 478.88 crore as of 31 March 2022 from Rs 395.90 crore as of 31 March 2021. Sundry debtors were higher at Rs 568.80 crore as of 31 March 2022 compared to Rs 441.99 crore as of 31 March 2021. Cash and bank balance declined from Rs 499.31 crore as of 31 March 2021 to Rs 333.41 crore as of 31 March 2022. Investments declined from Rs 180.46 crore as of 31 March 2021 to Rs 64.18 crore as of 31 March 2022.
PBDT rose 34.23% to Rs 287.78 crore. Provision for depreciation rose 19.65% to Rs 112.04 crore. Fixed assets increased to Rs 826.57 crore as of 31 March 2022 from Rs 600.51 crore as of 31 March 2021. Intangible assets increased from Rs 29.93 crore to Rs 92.93 crore.
Profit before tax grew 45.53% to Rs 175.74 crore. Share of profit/loss was 89.31% higher at Rs 7.44 crore. Provision for tax was expense of Rs 24.04 crore, compared to Rs 31.16 crore. Effective tax rate was 11.13% compared to 24.99%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 105.15% to Rs 191.88 crore.
Equity capital stood at Rs 47.82 crore as of 31 March 2022 to Rs 47.82 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 64.73% as of 31 March 2022 ,compared to 64.73% as of 31 March 2021 .
Cash flow from operating activities increased to Rs 166.87 crore for year ended March 2022 from Rs 85.55 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 108.54 crore, compared to Rs 134.99 crore during the year ended March 2021.
Other Highlights
Board has declared an Interim dividend of
20% on the face value of Rs 0.40 per equity share. Record Date for the purpose
is 18th Feb 2023.
During 9M FY23, company won 24% of its Lifetime
EV orderbook.