Minda Corporation Ltd Q3FY18
Consolidated Results Q3FY18: (Rs. in crore)
|EBITDA Margin (%)||11.3||159|
|Net Profit (adjusted)||37.87||78.0|
- While growth in raw material cost (27% yoy) was faster than revenue growth (25% yoy), MCorp managed to keep operating costs under check (up 10% yoy). The company has been on a cost optimization drive since the past few quarters.
- In the quarter Q3FY17, MCorp reported a loss at one of its subsidiaries, Minda Furukawa Electric Private Limited, which combined with other items, resulted in an outflow of Rs15.45cr from its profit. In Q3FY18, the company saw a profit from its share in joint venture entities amounting to Rs5cr.
- The board of directors declared a dividend of Rs0.25 per share.
- The board approved fund raising up to Rs500cr. Details regarding mode of fund raising and exact quantum are not yet available.
Minda Corporation Ltd ended at Rs. 211.85, up by 13.15 points or 6.62% from its previous closing of Rs. 198.70 on the BSE.
The scrip opened at Rs. 200.70 and touched a high and low of Rs. 216 and Rs. 200.70 respectively. A total of 8,03,795(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.