Minda Industries limited (‘MIL’) has announced its results for quarter and year ended March 31st, 2022. At a consolidated level, the company registered the highest ever quarterly performance with revenue of ₹ 2,415 Cr in Q4 FY22 as against ₹ 2,238 Cr for corresponding quarter i.e., Q4FY21, registering a rise of ~8%, while it grew by 11% QoQ compared to ₹ 2,181 Cr in Q3FY22.
The EBITDA for Q4 FY22 has been reported as ₹ 276 Crs vis-à-vis ₹ 235 Crs in Q3 FY22. Profit before tax for Q4 FY22 was at ₹ 175 Crs as against ₹ 141 Crs in Q3 FY22. PAT (MIL Share) for the quarter is ₹ 144 Crs in Q4FY22 as against ₹ 140 Crs in Q4FY21 and ₹ 101 Crores in Q3FY22. The rising input costs continue to have impact on profitability and margin of the business, however the margins have shown a visible improvement vis-à-vis last quarter, i.e. Q3FY22.
Similarly, the revenue for FY22 was highest ever and stood at ₹ 8,313 crores as against ₹ 6,374 crores for FY22, a Y-o-Y growth of 30%. The EBIDTA for FY22 is ₹ 885 crores in comparison to ₹ 725 crores for the corresponding period last year. Further, the group registered a PAT (MIL Share) of ₹ 356 crores in contrast to ₹ 207 crores in the corresponding period last year.
The Board has recommended a final dividend of ₹ 1 per share i.e. 50% of face value. Along with the interim dividend, the total dividend for the year is ₹ 1.5 per share translating to a payout ratio of 12% on the consolidated net profit of the company for the year. This reflects a commitment from the company to return value to shareholders on a consistent basis.
The Board has also recommended the bonus issue of 1 equity share of ₹ 2/- (Rupees Two only) each fully paid up for every 1 equity share of ₹ 2/- (Rupees Two only) each held as on the Record date decided for this purpose. This bonus issue will be subject to the approval of shareholders and other approvals, consents, permissions, conditions and sanctions, as may be necessary.
Mr Nirmal K Minda, CMD, Uno Minda Group says,“Despite turbulent times for the auto industry, on the back of shortage of semi-conductors, rising input costs, geo-political tensions, our company was able to register growth in its revenues and profitability. We believe that the auto industry is at the cusp of revival, with favorable governmental policies, with more & more new product launches planned by OEM’s for the coming year, we are optimistic of demand scenario & sentiments improving going forward. UNO Minda group, with its multiple product categories & long-standing relationships with OEMs in India & globally is strongly poised to capitalize on this opportunity to achieve the next level of growth in our revenues & profitability.
Sunil Bohra, CFO, Uno Minda Group says, “The performance for the quarter and financial year ended 31st March 2022 has been extremely encouraging as we have achieved our highest ever revenues and profitability for the quarter and financial year. This is a testimony to our robust performance as a pioneer in the industry, especially at a time when the automobile sector at large is facing massive headwinds in form of pricing pressures and inflationary trends, chip shortages.”
