Minda Industries posts record revenue of Rs 3,505 crore for FY2017

Minda Industries, the flagship company of the UNO Minda Group, has posted its highest-ever revenue of Rs 3,505 crore with the highest ever margin (EBITDA %) of 10.94% and profit after tax (after MI) of Rs 168 crore for FY2016-17.

For Q4 2016-17, consolidated revenues stood at Rs 948 crore with EBITDA of Rs 111 crore (EBITDA margin of 11.69%) and profit after tax (after MI) of Rs 58 crore, its highest and crossing  the Rs 50 crore mark for the first time.

The company reported a healthy growth of 61% YoY in its consolidated EBITDA from Rs 238 crore in FY2016 to Rs 384 crore for FY2017. 

New projects
Minda Industries is to make a number of new investments to set up a new plant for Minda Kyoraku (Blow Moulding) in Gujarat.

On April 27, it announced a partnership with Tung Thih Electronic Co (TTE) to set up a 50:50 joint venture in India for supply of rear parking aid systems, auto parking aid systems, cameras, and around view monitor systems to Indian automotive OEMs. On April 7, it had announced a JV with Katolec Corporation for box build assemblies and printed circuit boards (PCBs). Construction of the new plant at Chakan, near Pune, is to commence soon.

Mea nwhile, the company has said its ASEAN Business has become a 100 percent subsidiary with effect from April 1, 2017.