Diverse auto components manufacturer MIL announces Q4 and FY20 results
Gurugram (Haryana)/IBNS: Minda Industries Limited (MIL), a flagship company of UNO MINDA Group, an auto components manufacturer, recently announced its results for the quarter and year ended March 31, 2020.
UNO MINDA manufactures automobile components for Original Equipment Manufacturers (OEMs).
The company said it has been able to limit the decline to some extent due to its diversified product portfolio, customer mix, cost management drive and focus on enhancing kit value.
At a consolidated level, the company reported revenue of Rs 1,339 crore in Q4 FY 20 as against Rs 1,486 crore for corresponding quarter of the previous year, registering a decline of 10%.
For FY20, the revenue was Rs 5,465 as against Rs 5908 in FY19.
The EBITDA for Q4 FY20 declined to Rs 127 crore vis-à-vis Rs 185 crore, down 31% YOY.
The EBITDA margin for Q4 FY20 is at 9.48 per cent as against 12.5 per cent in Q4 FY19.
The EBIDTA for FY20 is Rs 626 crore as against Rs 725 crore in FY19.
The other expenses were higher in account of depreciation of key currencies like INR and Mexican Peso, especially in the last quarter, according to the company.
PBT before exceptional items for Q4 FY20 was at Rs 35 crore. as against Rs 110 crore in Q4 FY19.
The company attributed the decline in PBT largely to lower operating leverage, suspension of production due to COVID -19.
The finance cost for Q4 FY20 was Rs 21 crore, marginally higher than Rs 20 crore reported In Q4 FY19.
The depreciation number is higher by Rs 14 crore for this quarter largely on account to consolidation of Delvis and capitalization of Sensor and Controller plants in standalone entity.
PBT for FY20 is Rs 266 crore as against Rs 455 crore for FY19.
PAT before Minority Interest (MI) declined to Rs 13 crore in Q4FY20 as against Rs 76 crore in the corresponding quarter of the previous year.
For the full year, PAT (before MI) is Rs 188 crore as against Rs 339 crore for FY19.
In addition to this, according to the company, the merger process of four wholly owned subsidiaries is complete; objective of this merger is to realize synergies and economy of scale benefits, besides strengthening the balance sheet.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
