Minda Corporation rose 3.17% to Rs 114 after the company's consolidated net profit stood at Rs 12.92 crore in Q4 FY21 compared with net loss of Rs 299.78 crore in Q4 FY20.
Net sales surged 48% to Rs 794.09 crore in Q4 FY21 as against Rs 536.37 crore in Q4 FY20. EBITDA soared 128.20% to Rs 89 crore in Q4 March 2021 as against Rs 39 crore in Q4 March 2020. EBITDA margin improved to 11.2% in Q4 FY21 as compared to 7.3% in Q4 FY20.
Commenting on the Q4 results, Ashok Minda, the chairman and group chief executive officer (CEO) of Minda Corporation, said: "I am pleased to announce that this quarter we have delivered highest ever Quarterly Revenue, highest Absolute EBITDA and highest profit after tax from continued operations. Our consolidated revenue of Rs 7,941 million continues to outperform the industry growth. The revenue grew by 48% as compared to Industry growth of 28% Y-o-Y for the quarter. Despite commodity price pressure, our EBITDA margin improved to 11.2% due to operating leverage and tight control & reduction on other cost. This is third consecutive quarter of improved EBITDA margin by the company. Lower Finance Cost and improved profit from joint ventures helped us to deliver once again highest ever profit after tax of Rs 546 million from continued operations."
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