UNO Minda Ltd. share price target

Minda Inds Ltd (MIL) reported a muted quarterly performance in Q1FY20, as net sales grew by marginal 0.7% yoy to INR 1440 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 segment thus...

Sector: Auto ancillaries /Mid-Cap | Earnings Update 4QFY19 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 Inds Ltd (MIL) reported a mixed set of quarterly performance in Q4FY19.

Minda Ind.s reported Total revenues of Rs 1,500 cr (?8% YoY & ?2% QoQ) in the quarter ending Mar. 2019. The company reported EBIDTA of Rs 198 cr (?9% annually & ?8% QoQ) with robust EBIDTA margin of 13.2% (+8 bps on annual comparison).

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%. MIL registered a sales growth of 8%YoY for Q4FY19m inline with our estimate. Despite having negative growth in switch segment, lighting & other business grew by 10% & 26% respectively....

We met the management of Minda Corporation (Minda Corp) to understand the demand scenario in the auto-ancillary space amid general slowdown on the auto OEM front and relevance of product profile in the present technology disruption landscape. Minda Corp was established in 1958 and is headed by Ashok Minda under the Spark Minda Corporate brand name. The company primarily manufactures lock & key assembly unit and wiring harness for 2-W segment, instrument clusters and plastic parts for CV, 3-W, PV and the tractor segment. Minda Corp has also established in house R&D;...

Minda Industries Ltd (MIL) is among the top five auto component companies in India having a wide basket of products.

Consistent Product Diversification Leads to Higher Kit Value: Minda Industries posted revenue of Rs. 14701 Mn up by 39.2% YoY driven by the switches segment which grew at 71.3% YoY during Q3FY19.

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%. MIL displayed a stupendous sales growth of 39%YoY for Q3FY19. This...