FY10 EPS seen at Rs 20 post amalgamation: Minda Industries

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FY10 EPS seen at Rs 20 post amalgamation: Minda Industries

The Board of Directors of Minda Industries has accorded its consent for amalgamation of Minda Autogas (MAGL) with Minda Industries. In an interview with CNBC-TV18, NK Minda, Managing Director, Minda Industries, speaks about the latest happenings in his company and sector.

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The Board of Directors of Minda Industries has accorded its consent for amalgamation of Minda Autogas (MAGL) with Minda Industries Ltd.(MIL), subject to necessary approvals of shareholder(s), creditor(s) and other approval(s) and sanction of Honble High Court of Delhi at New Delhi.

In an interview with CNBC-TV18, NK Minda, Managing Director, Minda Industries, speaks about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with NK Minda on CNBC-TV18. Also watch the accompanying video.

Q: Could you talk about the amalgamation of Minda Autogas and what that adds to listed entity by way of revenues and profits?

A: It was a separate entity so far, we are now merging it into the listed entity, which is Minda Industries Limited which is the flagship company.

Q: What does the Autogas division do and how big are revenues and profits there?

A: We have something around Rs 15 crore profits and topline is Rs 100 crore. We are supplying to Maruti complete LPG kit for Wagon R duo and CNG for Toyota and Bajaj and also to Honda, they are our esteemed customers.

Q: Does this work on an order book basis as well and in that case what kind of order book you have for the calendar year 2010, for Autogas?

A: Something around 150.

Q: Once the amalgamation is done what will be the revenue and profit profile of Minda Industries in its amalgamated form?

A: We would be ending with an EPS of around Rs 20 on a capital of around Rs 10 crore

Q: And what would be the consolidated topline?

A: Around Rs 600 crore.

Q: What happens to the order book of Minda Industries itself, what kind of size is that holding right now?

A: We are in the segment of lighting, switches, handle bar system for two wheelers. Our two-wheeler business is growing to the tune of 20-25% because we are adding some new products there. And our four wheeler market is growing at 15-20% because we supply lightings to Maruti, Tata Motors and General Motors etc, so all doing well, our customers are doing well and so along with them we are having an opportunity to grow.