May 20, 2022 | |
The Officer-In-Charge (Listing) | Head - Listing Operations, |
Listing Department | BSE Limited, |
National Stock Exchange of India Ltd., | P.J. Towers, Dalal Street, Fort, |
Exchange Plaza, Bandra Kurla Complex, | Mumbai - 400 001 |
Bandra (East), | Scrip Code: 538962 |
Mumbai - 400 051 | |
Symbol: MINDACORP |
Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Subject: Transcription of Conference Call with Investors/Analysts held on 17-May-2022
Please find attached herewith transcription of Conference call with Investors/Analysts held on May 17, 2022. Kindly take the same on record and acknowledge.
Kindly let us know if any other information is required in this regard.
Thanking you.
Yours faithfully,
For Minda Corporation Limited
Pardeep Mann
Company Secretary
Membership No. A13371
"Minda Corporation Limited
Q4 FY2022 Earnings Conference Call"
May 17, 2022
ANALYST: MR. JAY KALE - ELARA SECURITIES PRIVATE LIMITED
MANAGEMENT: MR. AAKASH MINDA - EXECUTIVE DIRECTOR FINANCE & STRATEGY - MINDA CORPORATION LIMITED
MR. ASHOK MINDA - CHAIRMAN AND GROUP CHIEF EXECUTIVE OFFICER
MR. NEERAJ MAHAJAN - GROUP MARKETING OFFICER - MINDA CORPORATION LIMITED
MR. VINOD RAHEJA - GROUP CHIEF FINANCIAL OFFICER - MINDA CORPORATION LIMITED MR. ANSHUL SAXENA - GROUP HEAD STRATEGY & M&A - MINDA CORPORATION LIMITED
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Minda Corporation Limited | |
May 17, 2022 | |
Moderator: | Ladies and gentelmen, good day and welcome to the Q4 FY2022 Minda Corporation Limited, |
Conference Call hosted by Elara Securities Private Limited. As a reminder all participant | |
lines will be in the listen only mode and there will be an opportunity for you to ask questions | |
after the presentation concludes. Should you need assistance during the conference call please | |
signal an operator by pressing "*" and then "0" on your touchtone phone. Pleae note that this | |
conference is being recorded. I now hand the conference over to Mr. Jay Kale from Elara | |
Securites Private Limited. Thank you and over to you, sir! | |
Jay Kale: | Thank you. Good evening everyone. On behalf of Elara Capital, I welcome you to the Q4 |
FY2022 Result Confernce Call of Minda Corporation. Today, from the management we have | |
Mr. Aakash Minda - Executive Director Finance and Strategy, we have Mr. Ashok Minda - | |
Chairman and Group CEO, Mr. Neeiraj Mahajan - Group Marketing Officer, MR. Vinod | |
Raheja -Group CFO, Mr. Anshul Saxena - Group Head Strategy and M&A. I would like to | |
hand over the call to Mr. Akash Minda for his opening remarks. Over to you Aakash! | |
Aakash Minda: | Good evening Jay. Thank you so much to Elara Capital for hosting us, our quarterly and |
yearly presentation. I would now like to invite Mr. Ashok Minda to give the opening remarks. | |
Ashok Minda: | Thank you Askash. Good evering everyone and welcome to the Q4 FY2022 Earning |
Conference Call of Minda Corporation. I would like to thank you all for joining us on this | |
conference call herre today and hope you are staying safe and healthy. | |
In the fourth quarter of FY2022 auto industry delivered a mixed performance. Revival in | |
economic activity helped in slight demand pick up for commercial vehicle and passsenger | |
vehicle segment. While the two-wheeler messes continue to post compared numbers. The | |
industry as a whole continued to face challenges of semi-conductor shortages and global geo- | |
political tension. Even unde these circumstances I am pleased to report that Minda | |
Corporation has continued to deliver strong performance. Our focus is on consitent and | |
sustainable performance, Minda Corporation has achieved highest ever qaurterly revenues of | |
INR 9478 million with EBITDA of 11.4% at Rs.1078 million. For the finacial year 2022 we | |
delivered a consolidated rervenue of Rs.29759 million with 25.7% year-on-year growth. | |
EBITDA for the full year was 9.9% at Rs.2946 million. Profit after tax for the year was | |
Rs.1919 million. In line with our current performance board of director has announced final | |
dividend of 35% which is Rs.0.017 per equity share. Total dividend for the year is 50% which | |
is Rs.1 per equity share. | |
Now, I would like to update you on important development of the quarter. The PLI application | |
filed by the company has been approved under the component champion incentive scheme. | |
We have also successfully completed the transaction of Minda Storage acqusition and from |
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Minda Corporation Limited
May 17, 2022
this quarter company will operate as solely owened subsidiary under the name of Minda Instruments Limited. To drive the growth at Minda corporation our continued focus is on; a) driving technology from in-house initiative and global tie ups. B) operationaal excellence through cost leadership. c) growing customer and mareket segments and generating high free cash flow and right capital allocation. Looking ahead industry growth prospects is expected to improve further with incresing demand for personal mobility and supported by easing supply chain issues. We at Minda Corporation remain confident in delivering accelerating growth by strengthening the corer business and capturing the emerging opportunities. With this I would now like to hand over the call to Mr. Aakash Minda to discuss the financial and the operational performance of the company during the quarter and financial year 2022.
Aakash Minda: Thank you, sir. Good evening ladies and gentlemen, I now request you look at the slides which have been uploaded for the quarterly and the annual earnings call. Refering page-3, I would like to state the highllights of Q4 and financial year FY2022 perforrmance. Our focus is enhjancing the core and deepening capability. For the Q4 the revenue growth of the quarter continues to out perform the industry performance, we have improved double digit EBITDA margins for the straight quarter on sequencial basis. Total life time order book booked in the Q4 is being Rs.14500 million.Eight pages have been filed during the quarter and we have been granteed PLI application.
Full year some highlights: Our FY2022 revenue growth hs been 25.8% year-on-year is quite challenging matter economic scenario and other shrotages. Our EBITDA margins incresed by 73 basis points to 9.9% for the year 2022. Total life time order book in the year was INR 59300 million. 28 patents have been filed in the year and 4 partnerships have been endorsed in this financial year for technology advancement.
I would like to ow move to the next slide which is slide-4, which shows the consistant and sustainable market leading profitable growth which is the focus of Minda Corporation. If you see on quarter-on-quarter basis we have delivered the highest ever quarterly operating revenue at INR 9478 million with the group of 19.4% on year-on-year basis. On the EBITDA again the highest ever quarterly absolute EBITDA of Rs.1077 million and margin improves at 70 basis points on quarter-on-quarter. Also, highest ever PAT margins from Rs.75.9 million, in revenue we have grown by 19%, EBITDA we have increased by 21% and PAT has grown by 39% on year-on-year basis.
I would now like to move to the next slide which shows the overall landscape of Minda Corporation. The revenue has been about Rs.29759 million. Our business vertical and key customers are shown on the left, while customers mark the EV customers. This quarter we have added ultra violet and global pear one as one of the customer first. We have 32
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Minda Corporation Limited
May 17, 2022
manufacturing locations and R&D capabilitesacross various divisioins. I would like share that over the last one year we have increased our number of shareholder from 49200 to 83653 and the shareholding is on the right track.
I would now move to the next slide which is the revenue break up for the financial year. If you look at by geography this is on year-on-year, India contributes majority to about 84%, exports of Europe and North America contribute to about 10% and South East Asia where our plants contribute to about 5.5%. But end market our two-wheeler is about 48%, passenger vehicle is about 17%, commercial vehicle is about 18% and after market is about 15%. By business verticals Mecatronics and after market is about 55 to 56% and information and connecting system is about 43.3%.
I now mover to the next slide which is on the industry performance: If I look at the financial year 2022 growth the industry had muted growth of about only 1.2% and if I look at Q4 which is on quarter-on-quarter then industry de-grew by about 15.6%. There were of couse supply chain issues globally, global macro economic issues, subdued sentiments all across India and infrastructure spending and other replacement demands seem to have also factored in terms of growth. We remain cautiously optimisitic about the Indian auto industry due to the low penatration and rising income but they are also aware of this uncertainties which will have impact on the automotive demand and supply.
I now move to the slide-8 which is on the consolidated performance: Our focus is on continued momentum of growth and out performing quarter-on-quarter and year-on-year. The company consolidated net revenue for the Q4 stood at Rs.947 Crores at EBITDA 11.4% at Rs.107.7 Crores. The numbers are including Minda Instruments Limited. I request you to look at the first column on the left, if I compare this from Q3 to Q4 the growth was about 28.4% in top lline whereas the industry only grew by 2%. Our EBITDA has grown from Rs.78.7 Crores to Rs.107 Crores from 10.7% margin to 11.4% margin. Our PBT has increased from 6.7% to 7.6%, if I compare year-on-year growth Rs.794 Crores is now translated into Rs.947 Crores which is a growth of 20%. EBITDA margin has grown from 11.2% to 11.4%, if I look at our numbers without Minda Instruments then year-on-year Rs.794 Crores has grown to Rs.800 Crores and 89 EBITDA has gone to 88 EBITDA. IF I look at for the full year on the right side, including Minda Instruments Limited we did about Rs.2975 Crores with 9% or 10% EBITDA at Rs.294 Crores and 6.1% PBT margins and PAT margin 6.4%. If I compare to the FY2021 then we have a growth of about 25.7% and our EBITDA margin has grown by 73 basis points from 9.2% to 9.9% from Rs.217 Crores EBITDA to Rs.294 Crores EBITDA and PAT has increase from 93 to 191, there are some exceptional items which I will explain.
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Minda Corporation Ltd. published this content on 20 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2022 04:54:04 UTC.