Results: Minda reports 32% rise in PAT in FY 2021
Results: Minda reports 32% rise in PAT in FY 2021

Auto components manufacturer Minda reported 32 per rise in profit after tax (PAT) in FY 2021 at Rs 248 crore as against Rs 188 crore in FY 2020. In Q4 FY 2021, the company reported a surge of 779 per cent in PAT, from Rs 19 crore in Q4 FY20 to Rs 164 in Q4 FY21.

In the case of consolidated income, the company registered its highest-ever quarterly performance with revenue of Rs 2,238 crore in Q4 FY21 as against Rs 1,498 crore for corresponding quarter.

Due to the merger of Harita Seatings System Ltd with Minda Industries Ltd, figures for previous years have also been restated since the merger is effective from April 1, 2019.

Without considering the impact of restatement of figures in FY20, the consolidated annual revenues have grown by 17 per cent YoY basis with Harita contributing incremental revenues of Rs 650 crore. The EBITDA for Q4 FY21 has been reported as Rs 302 crore as against Rs 140 crore in Q4 FY20, growth of 116 per cent. The company’s profit before tax after exceptional items for Q4 FY21 was at Rs 190 crore as against Rs 34 crore in Q4 FY20.

Nirmal K Minda, CMD, Uno Minda Group said, “ The 2nd wave of COVID has brought about a new set of challenges, however, we are confident that we will overcome them with the same vigor as we did last year as we are better prepared this time around. We stand together with all our employees as health and safety takes precedence and provide all possible support as one family to ride over these difficult times.”

Sunil Bohra, CFO, Uno Minda Group says, “We have reported a very strong performance for the quarter and ended the year on a positive note. This quarter’s performance has fueled great energy and has enabled us to tread towards our goal irrespective of challenges.”

The board of the company approved a final dividend of Rs 0.50 per equity share on the face value of Rs 2 each i.e. 25 per cent to the equity shareholders for the year ended on 31 March, 2021, subject to the approval of the shareholders at the Annual General Meeting.

The interim dividend of Rs 0.35 per share on the face value of Rs 2 each i.e.17.50 per cent was paid to the equity shareholders during the quruier ended on 31 March, 2021, therefore, the total dividend for the financial year ended on 31 March, 2021 aggregates to Rs 0.85 per equity shares of Rs 2 each.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal

www.freepressjournal.in