Minda Corp hits new high

about 4 months ago
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Minda Corp, which had closed yesterday at Rs.110.50, opened higher today at Rs.113.95 and went on to hit a new high at Rs.118. Volumes have more than doubled up.

The market is happy with its performance for Q4FY21. The company had various “highest ever” to record this time – highest ever quarterly revenue of Rs.791 crore, up 48% (YoY) and highest ever quarterly net profit at Rs.55 crore v/s Rs.17 crore (YoY).

EBITDA came in at Rs.89 crore, up 128% and margins improved from 7.3% to 11.2%.

The Board declared a final dividend of Rs.0.35 on Rs.2 FV. The total dividend paid for FY21 is Rs.0.65.

The company is a leading manufacturer of automotive components for the OEMs. 

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