Growth Momentum Continues in FY16 with Consolidated PAT crossing Rs.100 Crs
- Consolidated sales grew by 14% YoY to Rs.2,506 Cr
- Consolidated EBITDA grew by 50% YoY to Rs.244 Cr
- Consolidated PAT after MI grew by 64% YoY to Rs.111 Cr
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CONSOLIDATED FINANCIALS |
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| Particulars | Minda Industries Limited | |||||
| Q4 (15-16) | Q4 (14-15) | YOY | 2015-16 | 2014-15 | YOY | |
| Sales | 710 | 539 | 32% | 2,506 | 2,206 | 14% |
| EBITDA | 83 | 39 | 111% | 244 | 162 | 50% |
| Margin (%) | 11.71% | 7.31% | 9.75% | 7.36% | ||
| PBDT | 78 | 34 | 130% | 219 | 137 | 59% |
| Margin (%) | 10.94% | 6.25% | 8.72% | 6.23% | ||
| PBT* | 50 | 16 | 206% | 139 | 63 | 121% |
| Margin (%) | 7.00% | 3.01% | 5.53% | 2.85% | ||
| PAT | 43 | 15 | 181% | 111 | 68 | 64% |
| PAT(%) | 6.00% | 2.81% | 4.43% | 3.08% | ||
| EPS | 26.81 | 9.51 | 182% | 69.97 | 42.76 | 64% |
| ROCE% | 27.56% | 11.17% | 18.23% | 15.14% | ||
| ROE% | 40.48% | 17.88% | 26.43% | 18.61% | ||
| *PBT without Exceptional Items. | ||||||
| *PAT after Minority Interest. | ||||||
New Delhi–Minda Industries posted robust results for FY16, maintaining its growth momentum. The consolidated sales at Rs.2506 Cr for FY16 as against Rs.2206 Cr in FY15 recording a growth of 14%YOY.
The company reportedEBITDA of Rs.244Cr, a growth of 50% year on year. EBITDA margin has expanded by 239 basis points to 9.75 % for FY16.
PBT (Before Exceptional item) for the consolidated entity grew to Rs.139 Cr for FY16 as against Rs.63 Cr for FY15, growth of 121% year on year.
Profit after Tax and Minority Interest increased by 64 % year on year from Rs. 68Cr in FY15 to Rs. 111 Cr in FY16. PAT after MI margin at 4.43% in FY16 from 3.08% in FY15, an expansion of 135 basis points during the year.
EPS for the company is at Rs. 69.9 per share during FY16 as compared to Rs.42.8 per share in FY15.
Consolidated ROCE has consistently improved from 6% in FY14 to 15% in FY15 to 18.2% in FY16. Consolidated ROE following similar path, has also improved from 2.3% in FY14 to 18.6% in FY15 to 26.4% in FY16.
This growth has been on account of strong performance of the standalone entity and backed by improved performance of its subsidiaries including turnaround of certain loss making subsidiaries. Group consolidation has also been an enabler in achieving these number.
Dividend:
The board has recommendedfinal dividend of Rs.4per share,i.e., 40% on face value of Rs. 10 per equity share. Alongwith the interim dividend of Rs.3 per share, the total dividend for the year FY16 is Rs. 7 per share i.e., 70% on face value of Rs. 10 per share.
Business Update&FY 2016 in perspective:
- Under the Group Re-Aligning Program to consolidate product lines across UNO MINDA Group, company has increased stake in the following group companies:
- Minda TG Rubber to 51%
- Kosei Minda Aluminum Company to 30%
- MJ Castings to 98%
- PT Minda Asean Automotive (Indonesia) to 51%
- SAM Global Pte Ltd, Singapore to 51%
- Board of Minda industries has considered and approved a merger scheme as part of larger consolidation scheme.
- The salient features of the scheme is
- MJCL will be Merged with Minda Industries Limited
- PTMA, Indonesia will become 100% subsidiary of Minda industries limited
- MIVCL, Vietnam will become 100% subsidiary of Minda Industries limited
- Minda Acoustics has been awarded 100% SOB for new MSIL YSD Business. Business value at peak volumes would be around Rs.8 crores. New Honda Jazz, Brio also is key addition to our portfolio
- Minda Kosei Alloy wheel has been commissioned in Month of May and is supplying to two new model MSIL.
- Supplies started for HMSI – K 74 Project for switches , Horn and light
- Company acquired Global lighting business of Europe-based Rinder Group during the quarter, becoming one of the largest manufacturers in Automotive Lighting Segment.
- The salient features of the scheme is