Minda Industries Q4 FY2019 profit at Rs 74 crore, down 46%

by Autocar Pro News Desk , 16 May 2019

Minda Industries, the flagship company of the Uno Minda Group reported its FY2019 results, the company’s consolidated revenue was Rs 5,908 crore, a growth of 32 percent YoY. The PAT for the year came at Rs 286 crore, down 8 percent YoY, while EBITDA was Rs 725 crore, up 36 percent YoY.  The company says the 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.

Minda Industries says these margin levels are sustainable and it will continue to focus on managing costs and ensure profitable growth.  In Q4FY2019, the company’s revenue came at Rs 1,486 crore, (8% YoY), EBITDA at Rs 185 crore, (9% YoY), while PAT was down 46 percent YoY (Q4FY19: Rs 74 crore).

During the fiscal 2019, at a standalone level, the company registered revenue of Rs 2,100 crore, with a growth of 10 percent YoY. This the company says was primarily driven by improvement in performance of switches business and lamps and consistent improvement in mix manufacturing vis-a-vis trading sales.

Switching systems and Lighting business drives growth
Minda Industries says its switching systems business achieved revenue of Rs 2,237 crore for FY19, contributing about 37.9 percent of the total consolidated turnover. It’s lighting division reported revenue of Rs 1,293 crore for, contributing 21.90 percent; acoustic division or horns business revenue at Rs 717 crore (12.10%); 4MT division achieved revenue of Rs 908 Crs (15.0%) to total turnover and its other product lines have also started contributing and are showing good traction. As a whole, the company achieved revenue of Rs 754 crore for FY 2019 from other products, which includes several new business products with potential for high growth.