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.

INDUSTRY	ADDRESS	CONTACT
Auto Ancl - Others	A-15, Ashok Vihar, Phase-I, Delhi Delhi 110052	investor@mindacorporation.com http://www.sparkminda.com

Management
Name	Position Held
Mr. Ashok Minda	Chairman & Group CEO
Mr. Aakash Minda	Executive Director
Mr. N K Modi	Executive Director
Mr. Ashok Kumar Jha	Independent Director
Ms. Pratima Ram	Independent Director
Mr. Ravi Sud	Independent Director
Mr. Gajanan V Gandhe	Independent Director

Basic Stock Data of Minda Corporation Ltd

Last Updated: July 26, 2024, 10:21 pm

Market Cap	11,575 Cr.
Current Price	485
High / Low	512/280
Stock P/E	50.8
Book Value	82.6
Dividend Yield	0.29 %
ROCE	15.2 %
ROE	12.8 %
Face Value	2.00
PEG Ratio	0.60

Data Source: screener.in

Competitors of Minda Corporation Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Duncan Engineering Ltd	227 Cr.	613	649/371	40.2	143	0.57 %	18.4 %	13.9 %	10.0
Bharat Seats Ltd	558 Cr.	178	204/116	22.4	53.1	0.90 %	15.3 %	15.9 %	2.00
Automobile Corporation of Goa Ltd	1,465 Cr.	2,406	2,540/1,250	38.2	360	0.83 %	18.7 %	18.6 %	10.0
Akar Auto Industries Ltd	118 Cr.	109	170/80.3	21.4	41.2	0.46 %	17.7 %	13.1 %	5.00
Shivam Autotech Ltd	495 Cr.	40.5	49.8/25.3		4.55	0.00 %	2.82 %	62.7 %	2.00
Industry Average	3,442.88 Cr	748.11		128.13	143.36	0.63%	17.08%	16.55%	5.88

Quarterly Result

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	740	794	559	731	738	948	1,010	1,147	1,068	1,075	1,075	1,196	1,166
Expenses	658	747	528	654	660	840	904	1,023	954	958	960	1,065	1,036
Operating Profit	82	47	31	77	79	108	107	124	114	117	115	131	130
OPM %	11%	6%	6%	11%	11%	11%	11%	11%	11%	11%	11%	11%	11%
Other Income	15	7	10	8	37	5	4	4	5	2	2	2	2
Interest	10	8	7	8	8	7	8	10	11	12	14	15	14
Depreciation	24	24	25	27	27	33	32	34	34	39	39	41	42
Profit before tax	63	23	8	50	80	72	71	85	74	69	63	77	76
Tax %	22%	68%	16%	27%	16%	-5%	26%	25%	26%	-80%	27%	24%	33%
Net Profit	49	13	7	39	70	76	52	58	52	122	45	59	52
EPS in Rs	2.07	0.54	0.30	1.63	2.92	3.17	2.20	2.42	2.19	5.10	1.89	2.46	2.20

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

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	1,385	2,167	1,590	1,965	2,435	2,060	2,594	3,092	2,223	2,368	2,976	4,300	4,511
Expenses	1,250	2,058	1,463	1,778	2,206	1,868	2,316	2,797	2,309	2,189	2,680	3,837	4,018
Operating Profit	136	109	127	188	229	192	278	295	-86	179	296	463	493
OPM %	10%	5%	8%	10%	9%	9%	11%	10%	-4%	8%	10%	11%	11%
Other Income	2	33	44	23	29	27	27	80	54	33	56	16	8
Interest	27	42	28	39	37	30	40	51	41	39	32	42	55
Depreciation	45	77	48	60	74	58	74	88	87	94	112	138	161
Profit before tax	65	22	96	111	147	131	191	236	-160	80	208	298	285
Tax %	21%	78%	18%	24%	25%	22%	25%	28%	-25%	39%	12%	1%
Net Profit	52	5	79	88	110	102	143	169	-200	53	192	284	278
EPS in Rs	2.48	0.29	3.79	4.28	5.12	4.88	6.82	7.45	-8.79	2.21	8.03	11.90	11.65
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

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	20	20	20	41	42	42	42	45	45	48	48	48	48
Reserves	313	307	350	406	507	580	694	1,145	925	1,094	1,278	1,538	1,829
Preference Capital	19	19	19	19	19	0	5	5	5	5	5	5
Borrowings	476	532	552	502	543	549	723	681	620	528	506	713	765
Other Liabilities	383	414	390	472	680	377	592	571	736	658	736	910	964
Total Liabilities	1,192	1,273	1,312	1,422	1,771	1,548	2,051	2,442	2,327	2,328	2,567	3,209	3,606
Fixed Assets	487	466	527	571	719	530	711	732	570	613	887	1,026	1,088
CWIP	11	68	15	15	13	74	16	21	28	18	32	85	93
Investments	19	0	25	29	5	126	139	165	176	180	64	451	683
Other Assets	676	739	746	807	1,034	818	1,184	1,524	1,552	1,517	1,583	1,647	1,742
Total Assets	1,192	1,273	1,312	1,422	1,771	1,548	2,051	2,442	2,327	2,328	2,567	3,209	3,606

Minda Corporation Ltd Reserves and Borrowings Chart

Minda Corporation Ltd Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity	31	-18	304	226	48	70	209	450	86	167	387	287
Cash from Investing Activity	-60	-136	-53	-158	-158	-200	-402	-137	-192	12	-425	117
Cash from Financing Activity	11	133	-238	-29	67	122	203	-249	65	-161	74	-359
Net Cash Flow	-18	-20	13	39	-43	-8	11	64	-42	18	37	45

Minda Corporation Ltd Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	51	67	59	65	66	80	64	64	68	70	54	63
Inventory Days	71	70	70	78	91	105	86	108	97	93	75	66
Days Payable	68	93	94	104	79	103	79	139	124	110	95	89
Cash Conversion Cycle	54	44	36	40	79	82	71	33	41	53	34	40
Working Capital Days	39	61	53	41	57	58	49	41	56	65	47	73
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

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	64.73%	64.73%	64.73%	64.73%	64.73%	64.72%	64.72%	64.72%	64.72%	64.84%	64.84%	64.84%
FIIs	5.61%	4.99%	5.14%	4.49%	3.69%	4.39%	3.61%	5.06%	5.74%	5.53%	3.73%	5.07%
DIIs	12.86%	12.52%	13.01%	13.39%	13.96%	13.58%	13.84%	11.83%	11.88%	13.20%	16.81%	20.60%
Public	14.96%	15.95%	15.36%	15.63%	15.90%	15.61%	16.14%	16.68%	15.99%	14.78%	12.99%	7.90%
Others	1.85%	1.80%	1.77%	1.76%	1.72%	1.68%	1.68%	1.68%	1.65%	1.65%	1.62%	1.59%
No. of Shareholders	50,767	64,509	75,060	83,653	96,666	95,263	98,934	90,242	92,320	96,387	98,238	1,00,689

Minda Corporation Ltd Shareholding Pattern Chart

No. of Minda Corporation Ltd Shareholders

Minda Corporation Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Axis Small Cap Fund	5,769,277	1.18	210.72	5,656,718	2024-07-26	1.99%
Quant Small Cap Fund	5,656,718	1.84	206.61	5,656,718	2024-07-26	0%
Aditya Birla Sun Life Pure Value Fund	3,844,718	2.73	140.43	5,656,718	2024-07-26	-32.03%
Axis Multicap Fund	2,830,251	2.24	103.37	5,656,718	2024-07-26	-49.97%
ICICI Prudential Smallcap Fund	2,581,711	1.43	94.3	5,656,718	2024-07-26	-54.36%
Axis Growth Opportunities Fund	1,873,575	0.66	68.43	5,656,718	2024-07-26	-66.88%
ICICI Prudential Transportation and Logistics Fund	1,396,504	2.04	51.01	5,656,718	2024-07-26	-75.31%
Mahindra Manulife Small Cap Fund	1,196,655	1.71	43.71	5,656,718	2024-07-26	-78.85%
Aditya Birla Sun Life Small Cap Fund	983,861	0.72	35.94	5,656,718	2024-07-26	-82.61%
Mahindra Manulife Mid Cap Fund	735,278	1.55	26.86	5,656,718	2024-07-26	-87%

Minda Corporation Ltd ROCE Trend

Minda Corporation Ltd EPS Trend

Minda Corporation Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	9.65	12.10	8.16	2.33	-8.98
Diluted EPS (Rs.)	9.49	11.90	8.01	2.29	-8.98
Cash EPS (Rs.)	16.36	18.10	12.41	5.96	-4.17
Book Value[Excl.RevalReserv]/Share (Rs.)	82.84	66.36	55.46	47.78	43.05
Book Value[Incl.RevalReserv]/Share (Rs.)	82.84	66.36	55.46	47.78	43.05
Revenue From Operations / Share (Rs.)	194.53	179.92	124.51	99.08	124.20
PBDIT / Share (Rs.)	22.17	19.97	13.33	10.47	12.99
PBIT / Share (Rs.)	15.24	14.19	8.65	6.55	7.78
PBT / Share (Rs.)	12.90	12.49	8.72	5.05	-7.37
Net Profit / Share (Rs.)	9.42	12.32	7.72	2.05	-9.37
NP After MI And SOA / Share (Rs.)	9.50	11.90	8.03	2.21	-8.82
PBDIT Margin (%)	11.39	11.09	10.70	10.56	10.45
PBIT Margin (%)	7.83	7.88	6.94	6.61	6.26
PBT Margin (%)	6.63	6.94	7.00	5.10	-5.93
Net Profit Margin (%)	4.84	6.84	6.19	2.06	-7.54
NP After MI And SOA Margin (%)	4.88	6.61	6.44	2.22	-7.10
Return on Networth / Equity (%)	11.47	17.93	14.47	4.62	-20.49
Return on Capital Employeed (%)	15.59	17.34	13.20	12.03	15.18
Return On Assets (%)	6.60	8.82	7.46	2.26	-8.58
Long Term Debt / Equity (X)	0.06	0.10	0.06	0.08	0.11
Total Debt / Equity (X)	0.17	0.34	0.29	0.42	0.43
Asset Turnover Ratio (%)	1.40	1.29	1.20	1.01	0.98
Current Ratio (X)	1.80	1.25	1.53	1.44	1.31
Quick Ratio (X)	1.32	0.79	1.06	1.06	0.80
Inventory Turnover Ratio (X)	5.06	4.42	4.01	2.87	3.22
Dividend Payout Ratio (NP) (%)	0.00	9.27	7.97	13.25	-8.90
Dividend Payout Ratio (CP) (%)	0.00	6.24	5.03	4.78	-21.73
Earning Retention Ratio (%)	0.00	90.73	92.03	86.75	108.90
Cash Earning Retention Ratio (%)	0.00	93.76	94.97	95.22	121.73
Interest Coverage Ratio (X)	9.49	11.73	10.31	6.99	5.90
Interest Coverage Ratio (Post Tax) (X)	5.03	8.23	5.91	3.50	2.62
Enterprise Value (Cr.)	10155.36	5530.40	5002.91	2390.53	1258.51
EV / Net Operating Revenue (X)	2.18	1.29	1.68	1.01	0.44
EV / EBITDA (X)	19.16	11.59	15.70	9.55	4.28
MarketCap / Net Operating Revenue (X)	2.15	1.20	1.66	1.02	0.46
Retention Ratios (%)	0.00	90.72	92.02	86.74	108.90
Price / BV (X)	5.05	3.24	3.73	2.11	1.34
Price / Net Operating Revenue (X)	2.15	1.20	1.66	1.02	0.46
EarningsYield	0.02	0.05	0.03	0.02	-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: 538.66

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: 11.06% compared to the current price 485

Intrinsic Value: 994.39

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: 105.03% compared to the current price 485

Last 5 Year EPS CAGR: 84.61%

*Investments are subject to market risks

Strength and Weakness of Minda Corporation Ltd Stock

Strength	Weakness
The company has higher reserves (896.42 cr) compared to borrowings (590.75 cr), indicating strong financial stability. The company has shown consistent growth in sales (2.15 cr) and profit (131.54 cr) over the years.	The stock has a low average ROCE of 10.75%, which may not be favorable. The stock has a high average Working Capital Days of 53.33, which may not be favorable. 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 ₹538.66.

What is the Market Cap of Minda Corporation Ltd?

The Market Cap of Minda Corporation Ltd is 11,575 Cr..

What is the current Stock Price of Minda Corporation Ltd as on 27 July 2024?

The current stock price of Minda Corporation Ltd as on 27 July 2024 is 485.

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 82.6.

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 15.2 %.

What is the ROE of Minda Corporation Ltd?

The ROE of Minda Corporation Ltd is 12.8 %.

What is the Face Value of Minda Corporation Ltd?

The Face Value of Minda Corporation Ltd is 2.00.