Minda Industries posts consolidated sales of Rs 2,506 crore in FY16, up 14% YoY

Minda Industries, which manufactures a varied range of automotive components, posted robust results for FY16 with consolidated sales of Rs 2,506 crore as against Rs 2,206 crore in FY15, recording a growth of 14% year-on-year (YoY).

The company reported EBITDA of Rs 244 crore, a growth of 50% compared to the previous year. The EBITDA margin has increased by 239 basis points to 9.75% for FY16.

The PBT (Before Exceptional item) for the consolidated entity grew to Rs 139 crore for FY16 as against Rs 63 crore for FY15, a growth of 121% YoY.

Further, profit after tax & minority interest increased by 64% YoY from Rs 68 crore in FY15 to Rs 111 crore in FY16. PAT after MI margin stood at 4.43% in FY16 from 3.08% in FY15, an increase of 135 basis points.

The company’s EPS stood at Rs 69.9 per share during FY16 as compared to Rs 42.8 per share in FY15.

Consolidated ROCE also improved consistently from 6% in FY14 to 15% in FY15 to 18.2% in FY16. Consolidated ROE, following similar path, improved from 2.3% in FY14 to 18.6% in FY15 to 26.4% in FY16.

The company’s growth has been on account of strong performance of the standalone entity, backed by improved performance of its subsidiaries including turnaround of certain loss making subsidiaries.

In March this year, the company acquired the global lighting business of Europe-based Rinder Group for Rs 152 crore.