The UNO Minda Group’s Minda Industries has posted robust results for Q1 FY2017, maintaining its growth momentum.
18 Aug 2016 | 7503 Views | By Autocar Pro News Desk
The UNO Minda Group’s Minda Industries has posted robust results for Q1 FY2017, maintaining its growth momentum.
The consolidated revenue stood at Rs 767 crore for Q1 F20Y17 as against Rs 533 crore in Q1 FY2016, a year-on-year growth of 44%. The company reported EBITDA of Rs 72 crore, ...
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The UNO Minda Group’s Minda Industries has posted robust results for Q1 FY2017, maintaining its growth momentum.
The consolidated revenue stood at Rs 767 crore for Q1 F20Y17 as against Rs 533 crore in Q1 FY2016, a year-on-year growth of 44%. The company reported EBITDA of Rs 72 crore, a YoY growth of 112%.
PBT (before exceptional items) for the consolidated entity grew to Rs 34 crore for Q1 FY2017 as against Rs 16 crore for Q1 FY16, growth of 113% year on year. Profit after tax and minority Interest increased by 99% YoY from Rs 27 crore in Q1 FY2017 to Rs 14 crore in Q1 FY2016.
Meanwhile, Group companies are flush with orders, both domestic and export, to be catered to in FY2017. The switch division has received new export orders for a USB charger and H2O sensor worth Rs 6 crore from Piaggio and another one for accelerator position sensor from KTM and for handlebar switches from Aprilia. PTMA, Indonesia has started supplies of power sockets to Yamaha Thailand. This is the first time Yamaha will employ a power socket in the ASEAN market.
Meanwhile, Minda Industries (Lighting) has bagged Rs 7 crore business from Tata Motors for its Q501 project for reflex reflectors and rear fog lamps.
Some Group companies have also come in for recognition from domestic OEMs. Minda Kosei Aluminium Wheel has been recognised for ‘Special Support’ by Maruti Suzuki India, Minda Kyoraku for ‘Outstanding Contribution towards achieving zero defect supplies’ by Toyota Kirloskar Motor, and Minda Industries Switch division was felicitated by Suzuki Motorcycles for its warranty improvement programme.