View 10 reports from 4 analysts offering long term price targets
for Minda Corporation Ltd..
Minda Corporation Ltd. has an average target of 261.00. The consensus estimate
represents an upside of 18.13%
from the last price of 220.95.
- This broker has downgraded this stock from it's previous report. (eg. - Buy->Hold)
- Broker has maintained previous recommendation but reduced share price target.
- This broker has upgraded this stock from it's previous report.(eg. - Sell->Hold)
- Broker has maintained previous recommendation but increased share price target.
Revenue reported at INR 10,102Mn (including Minda Instruments Ltd-MIL) with 6.6% qoq / 80.8% yoy growth driven by revenue visibility in both ‘Mechatronics & aftermarket’ and ‘Information & connected system’ business segments with increase in business share from existing customers and rise in content per vehicle.
We maintain our BUY rating on the stock with a revised TP of Rs 245 (Rs 230 earlier), valuing the company at 18x FY24E EPS, implying an upside of 18% from CMP.
About the stock: Minda Corporation (MCL) primarily serves auto OEMs across two main verticals Mechatronics & Aftermarket (i.e. MCH safety & security, die-casting, starter motors, etc) and Information & Connected Systems (i.e. ICS mainly wiring...
Given the recent run-up in Minda Corps stock price, we are revising our rating from BUY to HOLD and value the company at 16x FY23E EPS to arrive at a target price of Rs 170.
Robust order wins (~| 5,000 crore lifetime orders in past 18 months; replacement + new business) imparts healthy revenue visibility in medium to long term. We build 25.4% (FY21-23E) consolidated sales CAGR Has orders from incumbent and new age EV OEMs including Ola Electric FY23E margins, RoCE seen at 12.2%, 16.8%. Acquisition of remaining 49% stake in JV with Stoneridge (for | 161 crore i.e. <6x FY21 EV/EBITDA) to be...
We estimate Revenue and APAT to grow at a CAGR of 15% and 28% respectively with FY20-23E. We have given a higher multiple for the company at 15x FY23E to arrive at a target price of Rs133 and retain BUY, resulting in an upside of 19%.
Ongoing premiumisation is also expected to lead to structural improvement in margin trajectory at MCL down the line. Once near-term squeeze on gross margins brought about by sharp increase in prices of raw materials subsides, the company is seen moving to a higher margin plane on the back of increased operational efficiencies, cost controls and removal of profitability overhang due to hive-off of Minda KTSN (the management expects the restructuring to add ~2% to margins and ~5% to RoCE in time)....
We have revised the revenue/EBIDTA/PAT upwards for both FY22 & FY23 and value the company at 12x FY23E to arrive at a target price of Rs 121 and retain BUY.
With a history of capital efficient operations, net debt free B/S (September 2020) and presence across new model launches like Mahindra Thar & Bajaj Chetak, we believe the risk-reward is favourable at MCL. Hence, we assign a BUY rating. We value it at | 105 i.e. 15x P/E on FY22E-23E average EPS of | 7.0. We are enthused by MCL's intent to clock ~12% margins & ~20%+ RoIC in future and would closely monitor its forward journey, consistency in performance for any further upgrades in our fair value calculation. Trades at inexpensive valuations i.e....
we expect the profitability of the company to improve over FY21 to FY23 (around FY19 levels) on back of operating leverage. Currently trading at sub 10x FY23, we value the company at 13x FY23E to arrive at a target price of Rs 88 (Rs 90 earlier) and retain BUY.
Minda Corp posted weak margin performance in 2QFY21. Revenue grew 17% YoY while EBITDA remain flat dragged by contraction in gross margin. EBITDA margin stood at 10% (-187bps YoY) led by weak margin in both Mechatronics and Wiring harness segment. Net profit de-grew...
Minda Corp. Ltd.'s Q1FY21 performance was not only marked by the disruption due to lockdown but also without its European subsidiary Minda KTSN post announcement of the insolvency in June 2020. Hence, the quarterly results reported for Q1FY21 were without the numbers from its erstwhile
Minda Corporation is one of the leading suppliers of locksets, wiring harness and instrument clusters in the Indian automotive market. We believe that the stock deserves to trade at higher multiples (compared to current levels 14/10x for FY22/23E) as we forecast EBITDA to grow at 50% CAGR over FY21- 23E and there will a significant improvement in cash flow generation and return ratio. The key catalysts that would drive stock re-rating are 1) wind up of its loss making KTSN business is structurally positive(significant saving in...
Minda Corporation Ltd, consolidated revenue from operations in Q1FY21 declined by 69.53% YoY and (down 66.82% QoQ) to INR 1779.60 Mn, impacted by lockdown. Gross profit margin for Q1FY21 came in at 37.77%. MCL reported EBITDA loss of INR 203.20 Mn compare to positive EBITDA of INR 666.8 Mn. EBTIDA margin for Q1FY21 was negative 11.42% compare to positive EBTIDA margin of 11.42%, significant decline was due to negative operating leverage, product mix and higher fixed cost. MCL reported net loss of INR 354 Mn in Q1FY21 as compare to net profit of 212 Mn in corresponding quarter last year....
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