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UNO Minda Limited Earnings Release 2019
61248_rns_2019-05-16_558912e9-8995-4ca0-9725-3f297363e9d3.pdf
Earnings Release
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Earnings Release
Minda Industries Ltd. has announced merger of four wholly owned subsidiaries with MIL
Gurugram - May 16, 2019 - Minda Industries limited ('MIL'), the flagship company of UNO MINDA Group has today announced that the board has approved amalgamation of four domestic wholly owned subsidiaries (WOS) with MIL namely Minda Rinder Pvt. Ltd., Minda Distribution & Services Ltd., Minda Auto Components Ltd. and M J Castings Ltd.
The rationale behind this merger is to create a stronger standalone entity to pursue the next level of growth. This Scheme of amalgamation is subject to necessary statutory and regulatory approvals including the approval of the jurisdictional National Company Law Tribunals. The amalgamation is expected to be completed by the end of financial year.
| Rs. In Cr. | |||
|---|---|---|---|
| S. No. | Subsidary Proposed to Be Merged |
Turnover for the year ended 31 Mar $\overline{1}9$ |
Net Worth as on 31 March 19 |
| Minda Rinder Pvt. Ltd. | 661.22 | 83.53 | |
| $\mathcal{P}$ | Minda Distribution & Services Ltd. | 525.85 | 23.55 |
| 3 | Minda Auto Components Ltd. | 353.20 | 24.08 |
| 4 | M J Castings Ltd. | 314.57 | 81.43 |
Turnover and Net Worth of companies that are proposed to be merged with MIL
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About Minda Industries Limited:
Minda Industries Limited (MIL) is a flagship Company of UNO MINDA Group. UNO MINDA, a technology leader in Auto Components Industry is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures automobile components for Original Equipment Manufacturers (OEMs). It is an INR 80 billion (US\$ 1.14 billion) Group as in 2018-19 and is rapidly expanding with growing market share across all its product lines.
The Group is a global player in the automotive sector with overseas manufacturing facilities in Indonesia, Vietnam, Spain, Mexico, Morocco & Colombia as well as Design Offices in Taiwan, Japan & Spain. It has over 62 manufacturing plants globally and has JVs/Technical Agreements with world renowned manufactures from Japan, Italy and Taiwan. It endeavours to deliver high technology and quality products to its customers globally.
Jigar Kavaiya
Strategic Growth Advisors Pvt Ltd.
Email id: [email protected]
Tel No: +9122 61146609
CIN No: U74140MH2010PTC204285
For more information about the Group and its businesses, please visit website at http://www.unominda.com
| For further information on earnings please contact | |
|---|---|
| ---------------------------------------------------- | -- |
Tripurari Kumar, GM - Finance
Minda Industries Ltd
CIN No: L74899DL1992PLC050333
Email id: [email protected]
Tel No: +91 124 2290427
For Media Queries
Devika Gupta, Corporate Communications
Minda Industries Ltd
CIN No: L74899DL1992PLC050333
Email id: [email protected]
Tel No: +91 124 2290427
