Minda Corp Q3 Results Review - Favorable Order Booking Continues: Nirmal Bang

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Minda Corporation Ltd.'s Q3 FY24 results were below our estimates. Revenue came in -5.1% lower than estimate, Ebitda margin was 10 basis points above estimate and profit after tax came in -12.8% lower than estimate due to an increase in finance costs associated with capacity expansion. The two wheeler demand is anticipated to increase, particularly in the entry-level segment. There is robust order booking in the passenger vehicle sector, an extended cycle in the commercial vehicle segment, and a resurgence in export activities. Minda Corp plans to move forward by concentrating on the premiumisation of its core products, expanding market share with existing clients. It has established two technical centers in Pune and Bangalore, with a primary focus on enhancing its product line..We expect revenue/Ebitda/ profit after tax to grow more than 10% compound annual growth rate in FY23-FY26E. We maintain our 'Buy' rating on Minda Corp with a target price of Rs 467..Click on the attachment to read the full report:.Five-Star Business Finance - Healthy Performance; Outlook Remain Strong: Systematix.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Minda Corp Q3 Results Review - Favorable Order Booking Continues: Nirmal Bang

The demand for two wheelers is anticipated to increase in both the entry-level and premium segments.

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Minda Corp Q3 Results Review - Favorable Order Booking Continues: Nirmal Bang

The demand for two wheelers is anticipated to increase in both the entry-level and premium segments.

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