Higher aftermarket focus, rising exports improve performance of Minda Corp
The domestic two-wheeler makers contribute 52 per cent to Minda’s topline followed by 11 per cent from passenger cars and 21 per cent from commercial vehicles.
Synopsis
Minda Corporation stock has gained 18.5 per cent since its fourth quarter result on May 18. A sustained business momentum may help the company reduce its valuation gap with other auto ancillary companies.
ET INTELLIGENCE GROUP: Delhi headquartered Minda Corporation, a supplier of locking systems to the automobile sector, has been reporting a better revenue growth than the two-wheeler makers, its major clients. This is largely due to its focus on strengthening the after-market or replacement sales and export. The stock has gained 18.5 per cent since its fourth quarter result on May 18. A sustained business momentum may help the company reduce its