Minda Industries Limited - MINDAIND Standalone revenue was Rs. 14687 Mn for FY16 up by 7.2% (YoY) with EBITDA margins at 9.5%, 120bps higher YoY posting PAT and PAT margin of Rs. 794Mn and 5.4%, up by 49% YoY and 150bps respectively. This was driven by increased orders from various OEMs (Original Equipment Manufacturers) and significant growth in exports especially in the switches and the lighting segment which surged by 90.9% and 120.0% respectively.Karvy maintain our positive view on MIL with a "BUY" rating for a target price of Rs. 1355 representing an upside potential of 16% in a 9-12 month period.Trendlyne has 8 reports on MINDAIND updated in the last year from 2 brokers with an average target of Rs 1464.5. Brokers have a rating for MINDAIND with 1 downgrade ,1 upgrade and 3 price upgrades in past 6 months.