Minda Corp.'s earning in the second quarter of fiscal 2025 beat estimates on all fronts.
The automotive component manufacturer's consolidated revenue from operations in the July-September quarter increased by 7.9% year-on-year to Rs 1,290 crore. This was higher than the Rs 1,265-crore consensus estimate of analysts tracked by Bloomberg.
In the year-ago period, the company had reported a revenue of Rs 1,195.84 crore.
Minda Corp's net profit during the quarter under review rose by 26%, reaching Rs 74.34 crore, well above the estimated Rs 69 crore. The bottomline was Rs 59 crore last year.
On the operating side, earnings before interest, tax, depreciation and amortisation grew by 12% to Rs 146.58 crore, exceeding the forecast of Rs 139 crore.
The company's margin improved to 11.4%, slightly higher than the estimated 10.9%, compared to 11% in the same quarter last year.
Minda Corp attributed the second quarter performance to a robust product portfolio, an expanding customer base, and a strong focus on product premiumisation.
Segment-wise, the mechatronics and aftermarket vertical saw 11% year-on-year growth to Rs 639 crore, while income from information and connected systems rose 5% to Rs 651 crore.
Strong demand in domestic two-wheeler segment and premiumisation of existing products contributed to the growth, the company said.
In the first half of this fiscal, Minda Corp secured lifetime orders totalling over Rs 4,750 crore, with electric vehicles accounting for more than 25% of the orders won during the quarter, according to a press release.
The company also secured marquee orders across both existing and emerging technology products, achieving multiple first-time strategic wins in the ICE and EV segments.
It has also undertaken capacity expansions at its die casting and instrument cluster plants in Pune and Greater Noida, which have enhanced production capabilities with the installation of advanced equipment.
Minda Corp share price closed 0.86% lower at Rs 495.3 apiece, compared to 1% decline in the benchmark BSE Sensex. The results came during market hours.
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