Minda Industries, part of the UNO Minda Group, reported revenue of Rs 1,430 crore in Q1 FY2019, up 51 percent compared to same period last year. The company says the robust result was a result of a strong growth in its switches, lamps, and horns/acoustic business among others.
For Q1 FY2019 the PAT was Rs 85 crore (+65.3% YoY), EBITDA stood at Rs 170 crore (+68% YoY), and EBITDA margin at 11.89 percent compared to 10.69 percent for the same period last year.
According to Minda Industries, the robust growth was on the back of strong performance from its various business that includes strong sales in switches business amounting Rs 598 core (+91%) which contributed around 43 percent of the total revenue; lamps business saw sales of Rs 311 crore (+19%); horns/acoustics business contributing Rs 198 crore (+10%) and others (alloy wheel/ aluminum die casting/ blow molding, etc.) clocked sales of Rs 322 crore (+71%).
The Tier 1 supplier in the first quarter of the fiscal 2019 announced the acquisition of German embedded system and software major, iSYS RTS, which it says is expected to be completed by September 2018. The company’s Sw Division has been granted two patents for grip assembly with illumination and sweat free grip.