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UNO Minda Limited Earnings Release 2021
61248_rns_2020-11-10_41dae7ac-ed15-478d-bc4b-fe6ddac07d2d.pdf
Earnings Release
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Earnings Release
Dépenante.
Minda Industries Ltd. Q2 FY21 Result Highlights
≤ Q2 FY21 Consolidated Revenue of ₹1465 Cr., Y-O-Y growth 8%
- Q2 FY21 Consolidated EBITDA of ₹ 215 Cr., Y-O-Y growth 33%
- Q2 FY21 Consolidated PBT of ₹ 129 Cr., Y-O-Y growth 87%
- Q2 FY21 Consolidated PAT (MIL share) at ₹81 Cr., Y-O-Y growth 63%
| Particulars | Q2 FY 21 | Q2 FY20 | YoY % | Q1 FY20 | H1 FY21 | H1 FY20 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue fromOperation | 1,465 | 1,360 | 8% | 417 | 1,882 | 2,799 | 5,465 |
| EBITDA | 215 | 162 | 33% | (71) | 144 | 334 | 619 |
| Margin (%) | 15% | 12% | 282 Bps | $-17%$ | 8% | 12% | 12% |
| PBT | 129 | 69 | 87% | (156) | (27) | 153 | 266 |
| Margin (%) | 9% | 5% | 373Bps | $-37%$ | $-1%$ | 8% | 8% |
| PAT | 84 | 52 | 63% | (119) | (34) | 108 | 175 |
| Margin (%) | 6% | 4% | 218 Bps | $-28%$ | $-2%$ | 5% | 5% |
| PAT (MIL Share) | 81 | 49 | 63% | (118) | (38) | 103 | 155 |
| Margin (%) | 6% | 4% | 188 Bps | $-28%$ | $-2%$ | 5% | 5% |
| EPS (diluted) in Rs | 3.08 | 1.89 | 63% | $-4.51$ | (1.43) | 3.92 | 5.91 |
Gurugram - Nov 10, 2020 - Minda Industries limited ('MIL') has announced its results for quarter ended September 30, 2020. At a consolidated level, the company registered revenue of ₹1465 Cr in Q2 FY21 as against ₹1360 Cr for corresponding quarter i.e., Q2FY20, registering a growth of 8%. The EBITDA for Q2 FY21 has been reported as ₹ 215 Cr vis-à-vis ₹162 Cr in Q2 FY20 registering a growth of 33% Y-O-Y.
Profit before tax before exceptional items for Q2 FY21 was at ₹129 Cr as against ₹69 Cr in Q2 FY20 registering a growth of 87% Y-O-Y.
PAT (MIL Share) for the quarter is ₹81 Cr in Q2FY21 as against ₹49 Cr in Q2FY20 in registering a growth of 63% Y-O-Y.
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Earnings Release
Business Updates
Company has successfully completed Rights issue of Rs.242.8 Cr which was oversubscribed. Funds have been used as per the end use defined in letter of offer.
Toyoda Gosei Japan (TG) and Minda are consolidating their business under one umbrella. Minda has already increased its holding in TGMINDA to 49.9% in Sep-18. TGMINDA has acquired 95% stake in TGSIN from TG Japan in Sep-20. Board has in principle approved the merger of MINDATG into TGMINDA. To ensure that the shareholding is identical, Board has approved the sale of 1.1% stake in MINDATG held by MIL to TG for a consideration of Rs.10.05 per share amounting to 0.56 Cr. subsequently, line by line consolidation will be discontinued as it will become an associate company.
Board has approved the purchase of ~13% stake in Tokairika Minda Pvt. Ltd.(TRMN) from Minda Finance Limited as part of group consolidation exercise for consideration of Rs. 10.04 per share amounting to Rs. 22.59 Cr. TRMN will become an associate company of MIL and will consolidate by Equity method. TRMN is engaged in business of Seat Belts, Gear Sifters, Locks and safety devices. For FY 20 TRMN reported a turnover of Rs. 600 Cr.
Harita Seating Systems merger scheme: NCLT Delhi hearing is scheduled November 16, 2020. All other approvals in place. Transaction will take another 3 months to be completed thereafter.
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 72 billion (US$ 0.95 billion) Group as in 2019-20 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 Dupuai les technology and quality products to its customers globally.
For more information about the Group and its businesses, please visit website at http://www.unominda.com
Earnings Release
For further information on earnings please contact
Tripurari Kumar, GM - Finance Minda Industries Ltd CIN No: L74899DL1992PLC050333 Email id: [email protected]
Anshul Bansal, DM- Finance Minda Industries Ltd CIN No: L74899DL1992PLC050333 Email id: [email protected] Jigar Kavaiya Strategic Growth Advisors Pvt Ltd. CIN No: U74140MH2010PTC204285 Email id: [email protected] Tel No: +9122 61146609
Safe Harbor: This document may contain forward-looking statements about Minda Industries Ltd & its subsidiaries, which are based on the beliefs, opinions and expectations of the company's management as the date of this press release and the companies do not assume any obligation to update their forward looking statements if those beliefs, opinions, expectations, or other circumstances should change, These statements are not the quarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.