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Auto ancillary company to bet on for the long term

Factors such as strong recovery in auto segments, opportunities arising out of BS VI emission norms, strong order book and reasonable valuation make Minda Corp a long-term buy

October 12, 2020 / 04:19 PM IST
Auto ancillary company to bet on for the long term

Minda Corp (MCL) (CMP: Rs70.6, Mcap: Rs 1,585 crore), like any other auto ancillary company, has been facing challenges due to Covid-led disruptions. This was evident in the last-quarter numbers wherein topline and operating profitability saw a sharp decline. However, factors such as strong recovery in auto segments, opportunities arising out of BS VI emission norms, strong order book and reasonable valuation (11 times FY22 projected earnings) make it a long-term buy. Outlook Industry outlook More than 60 percent of MCL’s revenue...

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