New Delhi: Minda Corporation Limited, the flagship company of Spark Minda, Wednesday announced its financial results for the fourth quarter and the financial year ended March 31, 2024.
For Q4 FY2024, the company reported the highest ever consolidated quarterly revenue of INR 1,215 crore, marking 13.1% Y-o-Y growth. This performance is attributed to its robust product portfolio, expanding customer base, and focus on product premiumisation, the company said.
During the quarter, the company achieved the highest ever EBITDA of INR 139 crore with a margin of 11.4%, showcasing 52 bps Y-o-Y growth. PBT reached INR 92 crore, with a margin of 7.5%, and PAT INR 71 core with a margin of 5.8%, partially impacted by increase in finance cost and depreciation due to capacity expansion and technological upgrades, the company said in a media release.
For FY 2024, the company reported highest-ever operating revenue of INR 4,651 crore with a growth of 8.2%. EBITDA margin of 11.1% was an increase of 33 bps Y-o-Y. The company reported PAT of INR 227 crore with a margin of 4.9%, the release said.
During the year, the company secured lifetime orders worth more than INR 10,000 crore with electric vehicles (EVs) constituting over 30% of the orders. Moreover, the Company secured multiple first-time ever orders for both the legacy and the new technology products from key OEMs showcasing its expanding capabilities in delivering sustainable mobility solutions, the release added.
Ashok Minda, Chairman and Group CEO, said, “Our resilient performance this year underlines our commitment to sustainable business practices and innovation. Achieving record revenue and robust growth reflects our focus on premiumisation and transformation. As one of the leading players in the smart mobility space, our expanding EV order books, investments in advanced technologies and sustainable solutions reaffirm our commitment to driving sustainable growth.”
The board of directors has recommended a final dividend of 45% i.e INR 0.90 per equity share on the face value, taking the total dividend for the year to 70% i.e. INR1.40 per equity share, the release added.
