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Last Updated on: 25 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

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

Basic Stock Data of Minda Corporation Ltd

Last Updated: July 24, 2024, 10:53 pm

Market Cap 11,531 Cr.
Current Price 482
High / Low512/280
Stock P/E50.8
Book Value 82.8
Dividend Yield0.29 %
ROCE15.1 %
ROE12.7 %
Face Value 2.00
PEG Ratio0.60

Data Source: screener.in

Competitors of Minda Corporation Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Duncan Engineering Ltd 220 Cr. 595649/37138.9 1430.59 %18.4 %13.9 % 10.0
Bharat Seats Ltd 555 Cr. 177204/11622.3 53.10.91 %15.3 %15.9 % 2.00
Automobile Corporation of Goa Ltd 1,405 Cr. 2,3082,540/1,25036.6 3600.87 %18.7 %18.6 % 10.0
Akar Auto Industries Ltd 122 Cr. 113170/80.322.3 41.20.44 %17.7 %13.1 % 5.00
Shivam Autotech Ltd 465 Cr. 38.049.8/25.3 4.550.00 %2.82 %62.7 % 2.00
Industry Average3,364.71 Cr730.16123.72143.360.65%17.08%16.55%5.88

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales7407945597317389481,0101,1471,0681,0751,0751,1961,166
Expenses6587475286546608409041,0239549589601,0651,036
Operating Profit8247317779108107124114117115131130
OPM %11%6%6%11%11%11%11%11%11%11%11%11%11%
Other Income1571083754452222
Interest10878878101112141514
Depreciation24242527273332343439394142
Profit before tax6323850807271857469637776
Tax %22%68%16%27%16%-5%26%25%26%-80%27%24%33%
Net Profit49137397076525852122455952
EPS in Rs2.070.540.301.632.923.172.202.422.195.101.892.462.20

Last Updated: July 11, 2024, 9:29 pm

Minda Corporation Ltd Quarterly Chart

Minda Corporation Ltd Profit & Loss

Last Updated: July 10, 2024, 7:44 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,3852,1671,5901,9652,4352,0602,5943,0922,2232,3682,9764,3004,511
Expenses1,2502,0581,4631,7782,2061,8682,3162,7972,3092,1892,6803,8374,018
Operating Profit136109127188229192278295-86179296463493
OPM %10%5%8%10%9%9%11%10%-4%8%10%11%11%
Other Income233442329272780543356168
Interest27422839373040514139324255
Depreciation45774860745874888794112138161
Profit before tax652296111147131191236-16080208298285
Tax %21%78%18%24%25%22%25%28%-25%39%12%1%
Net Profit5257988110102143169-20053192284278
EPS in Rs2.480.293.794.285.124.886.827.45-8.792.218.0311.9011.65
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:11%
5 Years:9%
3 Years:25%
TTM:8%
Compounded Profit Growth
10 Years:13%
5 Years:8%
3 Years:34%
TTM:-20%
Stock Price CAGR
10 Years:%
5 Years:38%
3 Years:53%
1 Year:56%
Return on Equity
10 Years:12%
5 Years:9%
3 Years:15%
Last Year:13%

Last Updated: July 25, 2024, 12:56 am

Minda Corporation Ltd Balance Sheet

Last Updated: July 10, 2024, 7:44 pm

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 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 31-18304226487020945086167387287
Cash from Investing Activity -60-136-53-158-158-200-402-137-19212-425117
Cash from Financing Activity 11133-238-2967122203-24965-16174-359
Net Cash Flow-18-201339-43-81164-42183745

Minda Corporation Ltd Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days516759656680646468705463
Inventory Days71707078911058610897937566
Days Payable68939410479103791391241109589
Cash Conversion Cycle544436407982713341533440
Working Capital Days396153415758494156654773
ROCE %8%12%16%16%12%18%16%-7%10%12%16%

Minda Corporation Ltd Financial Efficiency Indicators Chart

Minda Corporation Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters64.73%64.73%64.73%64.73%64.73%64.72%64.72%64.72%64.72%64.84%64.84%64.84%
FIIs5.61%4.99%5.14%4.49%3.69%4.39%3.61%5.06%5.74%5.53%3.73%5.07%
DIIs12.86%12.52%13.01%13.39%13.96%13.58%13.84%11.83%11.88%13.20%16.81%20.60%
Public14.96%15.95%15.36%15.63%15.90%15.61%16.14%16.68%15.99%14.78%12.99%7.90%
Others1.85%1.80%1.77%1.76%1.72%1.68%1.68%1.68%1.65%1.65%1.62%1.59%
No. of Shareholders50,76764,50975,06083,65396,66695,26398,93490,24292,32096,38798,2381,00,689

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)Previous Number of SharesPrevious DatePercentage Change
Axis Small Cap Fund5,769,2771.18210.722,581,7112024-07-24123.47%
Quant Small Cap Fund5,656,7181.84206.612,581,7112024-07-24119.11%
Aditya Birla Sun Life Pure Value Fund3,844,7182.73140.432,581,7112024-07-2448.92%
Axis Multicap Fund2,830,2512.24103.372,581,7112024-07-249.63%
ICICI Prudential Smallcap Fund2,581,7111.4394.32,581,7112024-07-240%
Axis Growth Opportunities Fund1,873,5750.6668.432,581,7112024-07-24-27.43%
ICICI Prudential Transportation and Logistics Fund1,396,5042.0451.012,581,7112024-07-24-45.91%
Mahindra Manulife Small Cap Fund1,196,6551.7143.712,581,7112024-07-24-53.65%
Aditya Birla Sun Life Small Cap Fund983,8610.7235.942,581,7112024-07-24-61.89%
Mahindra Manulife Mid Cap Fund735,2781.5526.862,581,7112024-07-24-71.52%

Minda Corporation Ltd ROCE Trend

Minda Corporation Ltd EPS Trend

Minda Corporation Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)9.6512.108.162.33-8.98
Diluted EPS (Rs.)9.4911.908.012.29-8.98
Cash EPS (Rs.)16.3618.1012.415.96-4.17
Book Value[Excl.RevalReserv]/Share (Rs.)82.8466.3655.4647.7843.05
Book Value[Incl.RevalReserv]/Share (Rs.)82.8466.3655.4647.7843.05
Revenue From Operations / Share (Rs.)194.53179.92124.5199.08124.20
PBDIT / Share (Rs.)22.1719.9713.3310.4712.99
PBIT / Share (Rs.)15.2414.198.656.557.78
PBT / Share (Rs.)12.9012.498.725.05-7.37
Net Profit / Share (Rs.)9.4212.327.722.05-9.37
NP After MI And SOA / Share (Rs.)9.5011.908.032.21-8.82
PBDIT Margin (%)11.3911.0910.7010.5610.45
PBIT Margin (%)7.837.886.946.616.26
PBT Margin (%)6.636.947.005.10-5.93
Net Profit Margin (%)4.846.846.192.06-7.54
NP After MI And SOA Margin (%)4.886.616.442.22-7.10
Return on Networth / Equity (%)11.4717.9314.474.62-20.49
Return on Capital Employeed (%)15.5917.3413.2012.0315.18
Return On Assets (%)6.608.827.462.26-8.58
Long Term Debt / Equity (X)0.060.100.060.080.11
Total Debt / Equity (X)0.170.340.290.420.43
Asset Turnover Ratio (%)1.401.291.201.010.98
Current Ratio (X)1.801.251.531.441.31
Quick Ratio (X)1.320.791.061.060.80
Inventory Turnover Ratio (X)5.064.424.012.873.22
Dividend Payout Ratio (NP) (%)0.009.277.9713.25-8.90
Dividend Payout Ratio (CP) (%)0.006.245.034.78-21.73
Earning Retention Ratio (%)0.0090.7392.0386.75108.90
Cash Earning Retention Ratio (%)0.0093.7694.9795.22121.73
Interest Coverage Ratio (X)9.4911.7310.316.995.90
Interest Coverage Ratio (Post Tax) (X)5.038.235.913.502.62
Enterprise Value (Cr.)10155.365530.405002.912390.531258.51
EV / Net Operating Revenue (X)2.181.291.681.010.44
EV / EBITDA (X)19.1611.5915.709.554.28
MarketCap / Net Operating Revenue (X)2.151.201.661.020.46
Retention Ratios (%)0.0090.7292.0286.74108.90
Price / BV (X)5.053.243.732.111.34
Price / Net Operating Revenue (X)2.151.201.661.020.46
EarningsYield0.020.050.030.02-0.15

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

Fair Value: 535.74

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 11.15% compared to the current price 482

Intrinsic Value: 989.01

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 105.19% compared to the current price 482

Last 5 Year EPS CAGR: 84.61%

*Investments are subject to market risks

Strength and Weakness of Minda Corporation Ltd Stock

StrengthWeakness
  1. The company has higher reserves (896.42 cr) compared to borrowings (590.75 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (2.15 cr) and profit (131.54 cr) over the years.
  1. The stock has a low average ROCE of 10.75%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 53.33, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 50.58, which may not be favorable.

FAQ

What is the latest fair value of Minda Corporation Ltd?

The latest fair value of Minda Corporation Ltd is ₹535.74.

What is the Market Cap of Minda Corporation Ltd?

The Market Cap of Minda Corporation Ltd is 11,531 Cr..

What is the current Stock Price of Minda Corporation Ltd as on 25 July 2024?

The current stock price of Minda Corporation Ltd as on 25 July 2024 is 482.

What is the High / Low of Minda Corporation Ltd stocks in FY 2024?

In FY 2024, the High / Low of Minda Corporation Ltd stocks is 512/280.

What is the Stock P/E of Minda Corporation Ltd?

The Stock P/E of Minda Corporation Ltd is 50.8.

What is the Book Value of Minda Corporation Ltd?

The Book Value of Minda Corporation Ltd is 82.8.

What is the Dividend Yield of Minda Corporation Ltd?

The Dividend Yield of Minda Corporation Ltd is 0.29 %.

What is the ROCE of Minda Corporation Ltd?

The ROCE of Minda Corporation Ltd is 15.1 %.

What is the ROE of Minda Corporation Ltd?

The ROE of Minda Corporation Ltd is 12.7 %.

What is the Face Value of Minda Corporation Ltd?

The Face Value of Minda Corporation Ltd is 2.00.

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