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Minda Industries Q4 PAT declines to INR 156 crore

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24th May, 2022 19:45 IST
The company's revenue for FY22 was highest ever and stood at INR 8,313 crore as against INR 6,374 crore for FY21, a Y-o-Y growth of 30%.New Delhi: Auto component company Minda Industries on Tuesday reported a 5% decline in its consolidated profit after tax (PAT) to INR 156 crore in the fourth quarter ended March 31, 2022 over INR 164 crore in the corresponding quarter a year ago.

Meanwhile, the company's consolidated revenue from operations in Q4 FY22 stood at INR 2,415 crore as against INR 2,2238 crore in the same quarter year ago.

According to Nirmal K Minda, CMD, Uno Minda Group, despite turbulent times for the auto industry, on the back of shortage of semiconductors, rising input costs, geopolitical tensions, our company was able to register growth in its revenues and profitability.

"We believe that the auto industry is at the cusp of revival, with favourable government policies, with more and more new product launches planned by OEMs for the coming year, we are optimistic about the demand scenario and sentiments improving going forward. UNO Minda group, with its multiple product categories and long-standing relationships with OEMs in India and globally, is strongly poised to capitalize on this opportunity to achieve the next level of growth in our revenues and profitability," Minda added.

The EBITDA for Q4 FY22 has been reported as INR 276 crore as against INR 235 crore in Q3 FY22.

The company's revenue for FY22 was highest ever and stood at INR 8,313 crore as against INR 6,374 crore for FY21, a Y-o-Y growth of 30%. The EBITDA for the last fiscal was INR 885 crore in comparison to INR 725 crores for the corresponding period last year. Further, the group registered a PAT (MIL Share) of INR 356 crore in contrast to INR 207 crore in the corresponding period last year.

The performance for the quarter and financial year ended March 31, 2022 has been extremely encouraging as we have achieved our highest-ever revenues and profitability for the quarter and financial year, Sunil Bohra, CFO, Uno Minda Group, said.

"This is a testimony to our robust performance as a pioneer in the industry, especially when the automobile sector at large is facing massive headwinds in the form of pricing pressures and inflationary trends, chip shortages,” Bohra added.

Minda Corp aims to outperform industry by 10-15% in next few quarters: Aakash Minda

“Typically about 4% to 5% of our revenue is spent in our capex items. It is more so on the engineering and technology front and increasing the capacity. Like last year, we would work on investing in new technology and products to become a system solutions provider in all the product lines that we are working on and making them smarter and more advanced and futuristic.”

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