InvestorQ : Can you give me your take on the quarterly results of Minda Corp and JSPL?
Sam Eswaran made post

Can you give me your take on the quarterly results of Minda Corp and JSPL?

Moii Chavate answered.
10 months ago

Let me talk about Minda Corp first. For the Sep-21 quarter, Minda reported 11.5% growth in sales at Rs.731.25 crore. The growth in sales was achieved at a time when auto components industry contracted 2.6%. Minda products caters to OEM players among two-wheelers, passenger cars, CVs and off-roaders. Minda also increased its stake in Minda Stoneridge.

PAT for the Sep-21 quarter increased 51.28% at Rs.39.1 crore. The thrust came from EBITDA, which improved to Rs.77 crore with EBITDA margins of 10.6%. The company did manage to offset typical problems for auto makers like higher input costs and the chip shortage. Net margins for Sep-21 quarter at 5.34% was better than 3.94% in Sep-20 quarter.

Let me now turn to JSPL (Jindal Steel & Power). Revenues were higher by 67% for Sep-21 quarter at Rs.13,612 crore. While sluggish monsoons did take a toll on construction activity, JSPL volumes increase 32% sequentially and 10% yoy. The 2.03 MT sales volume was driven by a 40% share of exports. This offset the impact of coking coal prices above $400 per ton.

Net profits for Sep-21 quarter tripled to Rs.2,584 crore. This only refers to the continuing operations and excludes any exceptional gains made from the sale of Jindal Power. Net margins at 18.99% in Sep-21 quarter was better than 10.27% in Sep-20 quarter.