UNO Minda Ltd. share price target

MIL is uniquely positioned in the domestic auto ancillary space as a provider of a wide variety of product solutions straddling established and growing opportunities. The company is also one of the few credible players in the high growth potential segments of airbags and alloy wheels. MIL possesses a steady state organic business riding on value migration i.e. higher kit value. We like MIL courtesy its progressive product profile, healthy capital efficiency and consistent positive CFO generation. Accordingly, we assign a...

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%. Q3FY20 revenue de-grew by -10%YoY on account -12%YoY volume decline in automobile sector. However due to diversified product mix the company was able to arrest further decline. EBITDA margin came in-line at 12.3%YoY owing to cost control initiatives and favorable product mix...

Minda Inds Ltd (Minda) reported a disappointing quarterly performance in Q3FY20, as net sales dropped by 10% yoy to INR 1327 cr.

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 62 plants globally and R&D; centers spread across the globe in 8 locations. The company offers a wide range product across different verticals of auto components like switching systems, lighting systems, acoustic systems and alloy wheels among others. It has more than 230 design registration and more than 30,000 touch points. Company has ~50% market share in switch...

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%. Q2FY20 revenue de-grew by -10%YoY on account 20% volume decline in automobile sector. However MIL outperformed the industry growth owing to its diversified product mix....

Minda Inds Ltd (Minda) reported a disappointing quarterly performance in Q2FY20, as net sales dropped by 11% yoy to INR 1360 cr.

Minda Ind.s (MIL) consolidated revenues stood at Rs 1,360 cr in Q2FY20 due to industry slowdown. The company reported EBIDTA of Rs 167 cr with EBIDTA margin of 11.9% owing to revenue decline and partially offset by soft commodity price

Sector: Auto ancillaries /Mid-Cap | Earnings Update 2QFY20 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 62 plants globally and R&D; centers spread across the globe in 8 locations. The company offers a wide range product across different verticals of auto components like switching systems, lighting systems, acoustic systems and alloy wheels among others. It has more than 230 design registration and more than 30,000 touch points. Company has ~50% market share in switch segment thus...

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....

Minda Ind.s (MIL) consolidated revenues stood at Rs 1,440 cr (?1% YoY & ?3% QoQ) in Q1FY20. The company reported EBIDTA of Rs 179 cr (?1% YoY & ?10% QoQ) with EBIDTA margin of 12.4% (+9 bps on YoY basis).