Minda Industries Ltd (MIL) is a diversified auto ancillary supplier, manufacturing products such as switches, horns & lights. MIL Holds a leadership position in switch business with a market share of 67%. Despite a double-digit volume decline for the industry, MIL registered a flat growth of 1%YoY for the Q1FY20. This was largely on account of 15%/18% YoY growth in lighting & other products. EBITDA margin declined by 40bps due to production cut by major OEM's and higher employee cost....