Minda Corp’s 2015-16 revenues up 24%

Minda Corporation, the automotive component and flagship company of the Spark Minda Ashok Minda Group, has announced its Q4 and FY2016 results.

While total revenue has increased by 24.1% to Rs 2,445 crore, EBITDA increased by 17.8% to Rs 243.6 crore and profit after tax rose 19.8% to Rs 107.3 crore. International business accounting for 21% of revenues. 

Commenting on the results, Ashok Minda, chairman and Group CEO, said:  During the year, not only did we launch new high value added products but also made significant progress on our new greenfield plant in Mexico, a new region we set foot in last year. In addition, we won new domestic and export orders both from our existing and new customers and expanded several key product segments. The acquisition of Panalfa Autoelektrik was instrumental in giving us a highly strategic access to new products and Tier 1 customers.

The strength of the automotive industry in many of the international automotive markets offers a significant export opportunity and in particular, to our European operations. Despite the uncertainty in the domestic automotive market, our presence across key product segments and relationships with some of the top automotive manufacturers enabled us to report encouraging performance.

The awards and recognitions through the last year are indicative of our high product quality and sharp customer focus.”

Minda Corporation’s diversified product portfolio encompasses safety, security and restraint systems; driver information and telematics systems and interior systems for automobile OEMs. These products cater to two- and three-wheelers, passenger vehicles, commercial vehicles and the aftermarket.

Its customer base includes key OEMs like Ashok Leyland, Bajaj Auto, BMW, Daimler, Hero MotoCorp, Honda Motorcycle & Scooter India, Mahindra & Mahindra, Maruti Suzuki, Renault- Nissan, Tata Motors, TVS Motor Co, Yamaha and the Volkswagen Group.

The company has 32 manufacturing facilities which comprise 26 in India, two in South-East Asia, three in Europe and one in South America