Minda Corporation Reports Strong Q1 FY25 Results
Minda Corporation Limited, the flagship company of Spark Minda, has announced its financial results for the first quarter ending June 30, 2024.
Quarterly Financial Performance
Minda Corporation posted a consolidated revenue of ₹1,192 crore for Q1 FY25, reflecting an 11.0% year-on-year increase. The company achieved an EBITDA of ₹132 crore, with an EBITDA margin of 11.1%, up by 38 basis points compared to the previous year. Profit Before Tax (PBT) stood at ₹84 crore, representing a margin of 7.0%, and an increase of 114 basis points YoY. Net Profit After Tax (PAT) reached ₹64 crore, marking a substantial 42.0% growth with a PAT margin of 5.3%.
The strong revenue growth is attributed to Minda Corporation’s robust product portfolio, an expanding customer base, and a focus on premium product offerings. The company’s improved margins and a significant increase in PAT highlight its effective operational strategies and financial management.
Strategic Developments
During the quarter, Minda Corporation entered a Joint Venture Agreement with HCMF to develop Automotive Sunroof Solutions and Closure Systems. This 50:50 partnership will leverage advanced technology and state-of-the-art manufacturing to provide innovative sunroof and closure products for passenger cars, with a focus on localization in India.
Management Commentary
Mr. Ashok Minda, Chairman and Group CEO, commented on the results: “The first quarter of FY25 began on a positive note with overall demand rising across most vehicle segments. Through our focus on key initiatives, financial prudence, and commitment to excellence, we are well-positioned to surpass industry expectations. We aim for steady growth in our current businesses while expanding our reach through increased exports and a larger customer base. Our dedication to delivering high-quality products and solutions ensures that we consistently meet and exceed customer expectations.”
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