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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Minda Corporation Ltd

About the Company - Minda Corporation Ltd

Minda Corporation Ltd. is a Public Limited Listed company incorporated on 11/03/1985 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1985PLC020401 and registration number is 020401. Currently Company is involved in the business activities of Manufacture of padlocks, locks, keys, hinges and the like, hardware for buildings, furniture, vehicles etc.. Company’s Total Operating Revenue is Rs. 2734.80 Cr. and Equity Capital is Rs. 47.80 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto Ancl - OthersA-15, Ashok Vihar, Phase-I, Delhi Delhi 110052investor@mindacorporation.com
http://www.sparkminda.com
Management
NamePosition Held
Mr. Ashok MindaChairman & Group CEO
Mr. N K ModiExecutive Director
Mr. Aakash MindaExecutive Director
Mr. Ravi SudNominee Director
Mr. Rakesh ChopraIndependent Director
Mr. Ashok Kumar JhaIndependent Director
Mrs. Pratima RamIndependent Director
Mr. Avinash Parkash GandhiIndependent Director

Minda Corporation Ltd. Share Price Update

Share PriceValue
Today₹399.80
Previous Day₹406.90

Basic Stock Data of Minda Corporation Ltd

Market Cap 10,361 Cr.
Current Price 433
High / Low450/185
Stock P/E37.2
Book Value 78.5
Dividend Yield0.28 %
ROCE16.5 %
ROE19.6 %
Face Value 2.00

Data Source: screener.in

Competitors of Minda Corporation Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Automotive Stampings & Assemblies Ltd 1,010 Cr. 637720/24663.4 12.40.00 %41.3 %% 10.0
Akar Auto Industries Ltd 137 Cr. 127170/61.818.7 39.10.40 %17.6 %19.1 % 5.00
JBM Auto Ltd 25,621 Cr. 2,1672,428/568170 90.10.06 %11.8 %12.9 % 2.00
Sandhar Technologies Ltd 3,163 Cr. 525599/18632.2 1590.47 %8.70 %8.01 % 10.0
Precision Camshafts Ltd 2,083 Cr. 219319/88.058.3 75.80.45 %8.30 %6.55 % 10.0
Industry Average6,402.80 Cr735.0068.5275.280.28%17.54%9.31%7.40

Minda Corporation Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales6567407945597317389481,0101,1471,0681,0751,0751,196
Expenses5916587475286546608409041,0239549589601,065
Operating Profit658247317779108107124114117115131
OPM %10%11%6%6%11%11%11%11%11%11%11%11%11%
Other Income7157108375445222
Interest11108788781011121415
Depreciation25242425272733323434393941
Profit before tax3763238508072718574696377
Tax %29%22%68%16%27%16%-5%26%25%26%-80%27%24%
Net Profit26491373970765258521224559
EPS in Rs1.142.070.540.301.632.923.172.202.422.195.101.892.46

Minda Corporation Ltd Quarterly Chart

Minda Corporation Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,3852,1671,5901,9652,4352,0602,5943,0922,2232,3682,9764,3004,413
Expenses1,2502,0581,4631,7782,2061,8682,3162,7972,3092,1892,6803,8373,936
Operating Profit136109127188229192278295-86179296463477
OPM %10%5%8%10%9%9%11%10%-4%8%10%11%11%
Other Income2334423292727805433561611
Interest27422839373040514139324252
Depreciation45774860745874888794112138153
Profit before tax652296111147131191236-16080208298283
Tax %21%78%18%24%25%22%25%28%-25%39%12%1%
Net Profit5257988110102143169-20053192284278
EPS in Rs2.480.293.794.285.124.886.827.45-8.792.218.0311.9011.64
Dividend Payout %12%68%5%9%10%10%9%9%-4%29%12%10%

Minda Corporation Ltd Profit & Loss Yearly Chart

Minda Corporation Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:11%
3 Years:25%
TTM:8%
Compounded Profit Growth
10 Years:49%
5 Years:15%
3 Years:51%
TTM:17%
Stock Price CAGR
10 Years:%
5 Years:23%
3 Years:58%
1 Year:104%
Return on Equity
10 Years:11%
5 Years:8%
3 Years:13%
Last Year:20%

Minda Corporation Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital20202041424242454548484848
Reserves3133073504065075806941,1459251,0941,2781,5381,829
Preference Capital19191919190555555
Borrowings476532552502543549723681620528506713765
Other Liabilities383414390472680377592571736658736910964
Total Liabilities1,1921,2731,3121,4221,7711,5482,0512,4422,3272,3282,5673,2093,606
Fixed Assets4874665275717195307117325706138871,0261,088
CWIP11681515137416212818328593
Investments1902529512613916517618064451683
Other Assets6767397468071,0348181,1841,5241,5521,5171,5831,6471,742
Total Assets1,1921,2731,3121,4221,7711,5482,0512,4422,3272,3282,5673,2093,606

Minda Corporation Ltd Reserves and Borrowings Chart

Minda Corporation Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -2331-18304226487020945086167387
Cash from Investing Activity -121-60-136-53-158-158-200-402-137-19212-425
Cash from Financing Activity 18511133-238-2967122203-24965-16174
Net Cash Flow40-18-201339-43-81164-421837

Minda Corporation Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days685167596566806464687054
Inventory Days102717070789110586108979375
Days Payable102689394104791037913912411095
Cash Conversion Cycle685444364079827133415334
Working Capital Days433961534157584941566547
ROCE %16%8%12%16%16%12%18%16%-7%7%12%16%

Minda Corporation Ltd Financial Efficiency Indicators Chart

Minda Corporation Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters64.73%64.73%64.73%64.73%64.73%64.73%64.72%64.72%64.72%64.72%64.84%64.84%
FIIs6.38%5.61%4.99%5.14%4.49%3.69%4.39%3.61%5.06%5.74%5.53%3.73%
DIIs10.57%12.86%12.52%13.01%13.39%13.96%13.58%13.84%11.83%11.88%13.20%16.81%
Public16.42%14.96%15.95%15.36%15.63%15.90%15.61%16.14%16.68%15.99%14.78%12.99%
Others1.90%1.85%1.80%1.77%1.76%1.72%1.68%1.68%1.68%1.65%1.65%1.62%
No. of Shareholders49,20150,76764,50975,06083,65396,66695,26398,93490,24292,32096,38798,238

Minda Corporation Ltd Shareholding Pattern Chart

No. of Minda Corporation Ltd Shareholders

Minda Corporation Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Axis Small Cap Fund57692771.18210.72
Quant Small Cap Fund56567181.84206.61
Aditya Birla Sun Life Pure Value Fund38447182.73140.43
Axis Multicap Fund28302512.24103.37
ICICI Prudential Smallcap Fund25817111.4394.3
Axis Growth Opportunities Fund18735750.6668.43
ICICI Prudential Transportation and Logistics Fund13965042.0451.01
Mahindra Manulife Small Cap Fund11966551.7143.71
Aditya Birla Sun Life Small Cap Fund9838610.7235.94
Mahindra Manulife Mid Cap Fund7352781.5526.86

Minda Corporation Ltd ROCE Trend

Minda Corporation Ltd EPS Trend

Minda Corporation Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)12.108.162.33-8.987.69
Diluted EPS (Rs.)11.908.012.29-8.987.52
Cash EPS (Rs.)18.1012.415.96-4.1710.13
Book Value[Excl.RevalReserv]/Share (Rs.)66.3655.4647.7843.0552.56
Book Value[Incl.RevalReserv]/Share (Rs.)66.3655.4647.7843.0552.56
Revenue From Operations / Share (Rs.)179.92124.5199.08124.20136.51
PBDIT / Share (Rs.)19.9713.3310.4712.9914.48
PBIT / Share (Rs.)14.198.656.557.7810.58
PBT / Share (Rs.)12.498.725.05-7.379.19
Net Profit / Share (Rs.)12.327.722.05-9.376.23
NP After MI And SOA / Share (Rs.)11.908.032.21-8.827.47
PBDIT Margin (%)11.0910.7010.5610.4510.60
PBIT Margin (%)7.886.946.616.267.74
PBT Margin (%)6.947.005.10-5.936.73
Net Profit Margin (%)6.846.192.06-7.544.56
NP After MI And SOA Margin (%)6.616.442.22-7.105.47
Return on Networth / Equity (%)17.9314.474.62-20.4914.21
Return on Capital Employeed (%)17.3413.2012.0315.1817.35
Return On Assets (%)8.827.462.26-8.586.90
Long Term Debt / Equity (X)0.100.060.080.110.12
Total Debt / Equity (X)0.340.290.420.430.44
Asset Turnover Ratio (%)1.291.201.010.981.17
Current Ratio (X)1.251.531.441.311.35
Quick Ratio (X)0.791.061.060.800.93
Inventory Turnover Ratio (X)4.424.012.873.224.15
Dividend Payout Ratio (NP) (%)9.277.9713.25-8.907.86
Dividend Payout Ratio (CP) (%)6.245.034.78-21.735.16
Earning Retention Ratio (%)90.7392.0386.75108.9092.14
Cash Earning Retention Ratio (%)93.7694.9795.22121.7394.84
Interest Coverage Ratio (X)11.7310.316.995.906.69
Interest Coverage Ratio (Post Tax) (X)8.235.913.502.623.52
Enterprise Value (Cr.)5530.405002.912390.531258.513265.96
EV / Net Operating Revenue (X)1.291.681.010.441.06
EV / EBITDA (X)11.5915.709.554.289.96
MarketCap / Net Operating Revenue (X)1.201.661.020.460.99
Retention Ratios (%)90.7292.0286.74108.9092.13
Price / BV (X)3.243.732.111.342.59
Price / Net Operating Revenue (X)1.201.661.020.460.99
EarningsYield0.050.030.02-0.150.05

Minda Corporation Ltd Profitability Ratios (%)

Minda Corporation Ltd Liquidity Ratios

Minda Corporation Ltd Liquidity Ratios (%)

Minda Corporation Ltd Interest Coverage Ratios (%)

Minda Corporation Ltd Valuation Ratios

Fair Value of Minda Corporation Ltd Stock

Fair Value: ₹573.96

The stock is undervalued by 32.55% compared to the current price ₹433

*Investments are subject to market risks

Strength and Weakness of Minda Corporation Ltd Stock

StrengthWeakness
  1. The company has higher reserves (843.54 cr) compared to borrowings (9.62 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (2.15 cr) and profit (131.38 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 9.55 and average Dividend Yield of 7.09%.
  2. The stock has a low average ROCE of 11.83%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 50.83, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 52.92, which may not be favorable.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Minda Corporation Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE