Minda Corp's Q4FY18 consolidated net profit rises 137% yoy to Rs39cr

The company’s consolidated revenue stood at Rs720.52cr, up 39.9% yoy and 13.25% qoq.

May 28, 2018 01:05 IST India Infoline Research Team


Consolidated Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 720.52 39.9
EBITDA 81.78 113.2
EBITDA Margin (%) 11.4 390
Net Profit (adjusted) 38.67 137.0
***EBITDA margin change is bps

Minda Corporation Limited (MCorp) reported a strong set of numbers for Q4FY18. Consolidated revenue was up 40% yoy at Rs721cr. On the back of stringent cost control measures, EBITDA more than doubled to Rs82cr, while EBITDA margin jumped 390bps yoy to 11.4%. Consolidated PAT soared 137% yoy to Rs39cr.

Other Highlights

  • MCorp’s cost optimization drive has started showing results, with operating costs declining yoy as % of sales in four of the past five quarters.
  • The company recently raised Rs310.69cr by way of Qualified Institutional Placement (QIP) of shares. MCorp issued 1.79cr shares at Rs173.47 per share.
  • The Board of Directors declared a dividend of Rs0.35 per share, taking total dividend for FY18 to Rs0.60 per share.
  • Total debt on consolidated books of the company increased 26% yoy to Rs737cr. D/E ratio went up to 0.80x in FY18 vs. 0.75x in FY17. Total cash declined 22% yoy to Rs26cr.

Technical View:

Minda Corporation Ltd is currently trading at Rs. 192, up by 2.35 points or 1.24% from its previous closing of Rs. 189.65 on the BSE.
The scrip opened at Rs. 191.80 and has touched a high and low of Rs. 194.50 and Rs. 188.20 respectively. So far 6,90,231 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.

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