Buy Minda Industries, target price Rs 960: Emkay

Emkay Global Financial Services has a buy call on Minda Industries Ltd. with a target price of Rs 960. The current price of Minda Industries is Rs 890.95.

Minda Industries Ltd., incorporated in the year 1992, is a Mid-Cap company (with a market cap of Rs 25425.93 Crore) operating in Auto Ancillaries sector.

Minda Industries Ltd. key Products/Revenue Segments include Electronic Components, Sale of services, Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 2135.05 Crore, up 32.72 per cent from last quarter Total Income of Rs 1608.69 Crore and up 44.50 per cent from last year same quarter Total Income of Rs 1477.57 Crore. Company has reported net profit after tax of Rs 92.20 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 67.47 per cent stake in the company as of 30-Sep-2021, while FIIs owned 9.22 per cent, DIIs 13.71 per cent.