Minda Industries hits the roof on strong Q2 results

Minda Industries hit an upper circuit limit of 20% at Rs 696.50 at 10:56 IST on BSE after the company posted strong consolidated numbers in Q2 September 2015.

The result was announced after market hours yesterday, 3 November 2015.

Meanwhile, the BSE Sensex was up 66.85 points, or 0.25%, to 26,657.44.

On BSE, so far 71,000 shares were traded in the counter, compared with an average volume of 2,207 shares in the past one quarter.

The stock hit a low of Rs 641 in early trade. The stock hit a 52-week high of Rs 696.50 on 4 November 2015. The stock hit a 52-week low of Rs 475 on 8 September 2015.

The stock had outperformed the market over the past one month till 3 November 2015, rising 13.32% compared with 1.41% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.66% as against Sensex's 5.66% decline.

The small-cap company has an equity capital of Rs 15.86 crore. Face value per share is Rs 10.

Minda Industries' Profit After Tax (PAT) and Minority Interest (MI), after excluding tax-adjusted exceptional items, increased by 110% to Rs 26 crore in Q2 September 2015 over Q2 September 2014. Adjusted PAT after MI margin at 4% in Q2 September 2015 from 2.3% in Q2 September 2014.

The consolidated revenue rose 19% to Rs 652 crore for Q2 September 2015 over Q2 September 2014.

The company's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 72% to Rs 63 crore in Q2 September 2015 over Q2 September 2014. EBITDA margin has expanded by 294 basis points to 9.7% for Q2 September 2015.

Profit Before Tax (PBT) (Before Exceptional item) for the consolidated entity grew 136% to 35 crore for Q2 September 2015 over Q2 September 2014.

Minda industries (MIL) is the flagship company of Uno Minda. Uno Minda is a technology leader in auto components industry and a leading Tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEM)'s.

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