UNO Minda Ltd. share price target

Background: Established in 1958, Minda Industries (MIL) is a flagship Company of UNO MINDA GROUP and one of the leading suppliers of proprietary automotive solution to OEMs. Headquarter at Manesar, Gurgaon, the company has 32 plants across India and R&D; centers spread across the globe in six locations. The company offers a wide range product across different verticals of auto components like switching systems, lighting system s, acoustic systems and alloy wheels among others. It has more than 145 design registration and more than 10,000 touch points. Company has ~50% market share in switch segment...

Minda Ind.s reported Total revenues of Rs 1103 cr (13% YoY & 7%QoQ) in the quarter ending Sept. 2017. The company reported EBIDTA of Rs 141 cr (44% annually & 28% QoQ) with robust EBIDTA margin of 12.8% (an expansion of 282 bps (YoY)).

Minda Ind reported Total revenues of Rs 1,032 cr in the quarter ending June 2017. The company reported EBIDTA of Rs 110 cr with robust EBIDTA margin of 10.7% (expansion of 123 bps (YoY)).

Minda industries Ltd (MIL) is a diversified auto ancillary supplier, manufacturing products such as switches, horns, lights & others, having a leadership position in switch business with a market share of 67%. Q4FY17 revenue grew by 32%YoY led by positive effect of consolidation of group companies & higher contribution of alloy wheels biz. EBITDA margin expanded by 30bps due to lower RM cost. Scaling up new product line to drive growth in Alloy wheels & battery business will paint positive outlook to the company...

Business Expansion to Propel Growth Prospects: Consolidated revenue for Q4FY17 was Rs. 9481 Mn up by 7.2%/32.2% QoQ/YoY. EBITDA for Q4FY17 stands at Rs. 1108 Mn up by 3.4%/35.9% QoQ/YoY and EBITDA Margins stand at 11.7% as against 11.4% in Q4FY16.

Minda Ind.s reported Total revenues of Rs 952 cr (?33% YoY & ?8%QoQ) in the quarter ending March 2017. The company reported EBIDTA of Rs 114 cr (?40% annually & ?7% QoQ) with robust EBIDTA margin of 12.01% (expansion of 64 bps (YoY)).

Revenue to Exponentially Increase on Consolidation of Group Entities:Minda Industries Ltd (MIL) Q3FY17 revenue grew by 41.4% YoY driven byconsolidation of Roki Minda, MINDA TG, Rinder and Minda Kosei and declined by 2.4% QoQ due to muted automobile growth. EBITDA improved by 15.0%/81.9% in QoQ/YoY led by certain one-off items such as tooling income and price hikes,also due to operating efficiencies at subsidiary level where Minda Kosei and Minda Kyoraku Ltd are operating at 20.0% EBITDA level (after adjusting for one-off items).

Minda Ind.s reported Total revenues of Rs 885cr (?41% YoY & ?3%QoQ) primarily driven by consolidation of Minda TG, Roki Minda, Minda Kosei Al wheels & acquisition of Rinder Inc. The standalone business reported 8% (YoY) growth depite impact of demonetization on the overall Auto industry. The compan..