Buy Minda Corporation, target price Rs 255: Axis Securities

Axis Securities has buy call on Minda Corporation with a target price of Rs 255. The current market price of Minda Corporation Ltd. is Rs 204.2.

Minda Corporation Ltd., incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 4877.22 Crore) operating in Auto Ancillaries sector.

Minda Corporation Ltd. key Products/Revenue Segments include Other Auto Components, Other Operating Revenue, Scrap, Duty Drawback, Royalty Income and Job Work for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1151.53 Crore, up 13.51 % from last quarter Total Income of Rs 1014.46 Crore and up 55.87 % from last year same quarter Total Income of Rs 738.78 Crore. Company has reported net profit after tax of Rs 63.13 Crore in latest quarter.

The company’s top management includes Mr.Ashok Minda, Mr.N K Modi, Mr.Aakash Minda, Mr.Ravi Sud, Mr.Rakesh Chopra, Mr.Ashok Kumar Jha, Mrs.Pratima Ram, Mr.Avinash Parkash Gandhi. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 24 Crore shares outstanding.



Promoter/FII Holdings
Promoters held 64.73 per cent stake in the company as of 30-Sep-2022, while FIIs owned 3.69 per cent, DIIs 13.58 per cent.