Minda Inds jumps after strong result, liberal bonus

Minda Industries surged 13.97% to Rs 1,284 at 15:12 IST on BSE after consolidated net profit jumped 122.46% to Rs 139.95 crore on 61.49% rise in total income to Rs 1453.38 crore in Q4 March 2018 over Q4 March 2017.

The result was announced after market hours yesterday, 22 May 2018.

Meanwhile, the S&P BSE Sensex was down 323.28 points or 0.93% at 34,327.96.

On the BSE, 1.01 lakh shares were traded on the counter so far as against the average daily volumes of 2,719 shares in the past two weeks. The stock had hit a high of Rs 1,310 and a low of Rs 1,168.05 so far during the day. The stock had hit a record high of Rs 1,356.65 on 25 January 2018 and a 52-week low of Rs 537.20 on 23 May 2017.

 

The mid-cap company has equity capital of Rs 17.41 crore. Face value per share is Rs 2.

Minda Industries earnings before interest, taxation, depreciation and amortization (EBITDA) rose 61.6% to Rs 170 crore in Q4 March 2018 over Q4 March 2017. EBITDA margin expanded to 12.4% in Q4 March 2018 from 11.7% in Q4 March 2017.

Minda Industries' board approved issue of 2:1 bonus shares. The announcement was made after market hours yesterday, 22 May 2018.

Minda Industries is a supplier of automotive solutions to original equipment manufacturers (OEMs).

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