Minda Industries limited (MIL) has tabled its financial results for quarter and year ended March 31st, 2022. At a consolidated level, the company registered the highest ever quarterly performance with revenue of Rs 2,415 crore in Q4 FY22 as against Rs 2,238 crore for corresponding quarter i.e., Q4FY21, registering a rise of ~8%, while it grew by 11% QoQ compared to Rs 2,181 crore in Q3FY22.
The EBITDA for Q4 FY22 has been reported as Rs 276 crore vis-à-vis Rs 235 crore in Q3 FY22. Profit before tax for Q4 FY22 was at Rs 175 crore as against Rs 141 crore in Q3 FY22. PAT (MIL Share) for the quarter is Rs 144 crore in Q4FY22 as against Rs 140 crore in Q4FY21 and Rs 101 crore in Q3FY22. The rising input costs continue to have impact on profitability and margin of the business; however the margins have shown a visible improvement vis-à-vis last quarter, i.e. Q3FY22.
Similarly, the revenue for FY22 was highest ever and stood at Rs 8,313 crore as against Rs 6,374 crore for FY22, a Y-o-Y growth of 30%. The EBIDTA for FY22 is Rs 885 crore in comparison to Rs 725 crore for the corresponding period last year. Further, the group registered a PAT (MIL Share) of Rs 356 crore in contrast to Rs 207 crore in the corresponding period last year.
The Board has recommended a final dividend of Rs 1 per share i.e. 50% of face value. Along with the interim dividend, the total dividend for the year is Rs 1.5 per share translating to a payout ratio of 12% on the consolidated net profit of the company for the year. This reflects a commitment from the company to return value to shareholders on a consistent basis.
The Board has also recommended the bonus issue of 1 equity share of Rs 2/- (Rupees Two only) each fully paid up for every 1 equity share of Rs 2/- (Rupees Two only) each held as on the Record date decided for this purpose. This bonus issue will be subject to the approval of shareholders and other approvals, consents, permissions, conditions and sanctions, as may be necessary.
Nirmal K Minda, CMD, Uno Minda Group says, “With favourable governmental policies and with more and more new product launches planned by OEM’s for the coming year, we are optimistic of demand scenario and sentiments improving going forward. UNO Minda group, with its multiple product categories and long-standing relationships with OEMs in India and globally, is strongly poised to capitalise on this opportunity to achieve the next level of growth in our revenues and profitability.”
Sunil Bohra, CFO, Uno Minda Group termed the performance as “robust” and “extremely encouraging.”