Minda Industries merges four subsidiaries to bolster growth
UNO Minda Group believes that the merger would lead to a strong growth of the company.
14941 Views
Minda Industries’ (MIL) flagship company UNO Minda Group has approved the merger of four of its wholly owned subsidiaries: Minda Rinder, Minda Distribution, Minda Auto Components and MJ Castings.
Subject to necessary statutory and regulatory approvals including the approval of the jurisdictional 'National Company Law Tribunals', the estimated implementation time-frame is expected by the end of the financial year. According to Minda Industries, the merger is to create a stronger standalone entity to pursue the next leg of growth. The merger is expected to drive a lot of operational, strategic synergies and create value for all stakeholders.
Minda Industrie reported its FY2019 results with consolidated revenue being Rs 5,908 crore, a growth of 32 percent YoY. The company says these margins have been achieved on the back of lower RMC on consolidated basis and higher capacity utilisation in new businesses like MKA, MRPL, Rinder and recovery at Clarton Horn.
RELATED ARTICLES
Modern Automotives targets 25% CAGR in forged components by FY2031, diversifies into e-3Ws
Autocar Professional Bureau
05 Jul 2025
The Tier-1 component supplier of forged components such as connecting rods, crankshafts, tie-rods, and fork bridges to l...
VinFast’s second plant in Vietnam goes on stream ahead of India factory
Autocar Professional Bureau
30 Jun 2025
Vietnamese EV maker’s second plant in its home market, which has a 200,000 EVs-per-annum capacity, will focus on produci...
Continental exits TBR market in India, shifts focus to car and SUV radials
Autocar Professional Bureau
13 Jun 2025
German tyre manufacturer aims to tap the double-digit market growth opportunity for big SUV and luxury car tyres which w...
