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    Minda Corp: strong Q2, attractive valuations

    A sharp recovery in the demand for passenger vehicles (PVs) and two-wheelers coupled with an increase in content per vehicle due to the BS VI emission norms make us upbeat about Minda Corp

    Nitin Agrawal
    November 06, 2020 / 03:01 PM IST
    Minda Corp: strong Q2, attractive valuations

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Minda Corporation (CMP: Rs70.4, Mcap: Rs 1,570 crore) saw a significant recovery in the second quarter of FY21 as demand picked up sharply. Though the numbers got impacted due to the exclusion of KTSN (German subsidiary) business, the results from continued operations are encouraging. A sharp recovery in the demand for passenger vehicles (PV) and two-wheelers (2W) coupled with an increase in content per vehicle due to the BS VI emission norms make us upbeat about the prospects of the...

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