/ Minda Industries Q2 FY17 PAT Rises 47% YoY ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 11 November 2016

Minda Industries posted robust results for Q2 FY17, maintaining its growth momentum and expanding its margins (EBITDA) further to 10.3%. The consolidated revenue stood at Rs 905 crore for Q2 FY17 as against Rs 651 crore in Q2 FY16 recording a robust growth of 39% YOY.

The company reported EBITDA of Rs 93 crore, a growth of 47% year on year. EBITDA margin has expanded by 59 basis points to 10.3% for Q2 FY17. PBT for the consolidated entity grew to Rs 53 crore for Q2 FY17 as against Rs 35 crore for Q2 FY16, growth of 50% year on year.

Profit after Tax and Minority Interest increased by 47% year on year to Rs 38.42 crore in Q2 FY17 from Rs 26.07 crore in Q1 FY16. PAT after MI margin at 4.24% in Q2 FY17 from 4.0% in Q1 FY16, an expansion of 24 basis points during the year.

EPS for the company for the half year ended September 30, 2016 stood at Rs 8.26 per share during as compared to Rs 5 per share in H1 FY16. Update on Group Consolidation: ASEAN Business to become 100% subsidiary

As part of group realignment, MIL board has approved acquisition of 49% equity shares in SAM Global, Singapore and 31.37% Share in PTMA Co. Pvt. Ltd. for a consideration of Rs 13.50 crore and Rs 15.85 crore respectively.  The transaction is expected to be completed by January 01, 2017 and the results will be consolidated with MIL Q4 2017.

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