Minda Industries stock surges after Q4 PAT rises 141%
The company reported PAT more than doubled to Rs135cr. However, it had an exceptional (gain) item of Rs38cr.
Shares of Minda Industries Limited (MIL) stock surged 8% after it reported a power-packed performance for Q4FY18. The company surpassed consensus estimate on all three counts – revenue, EBITDA and PAT.
The company reported PAT more than doubled to Rs135cr. However, it had an exceptional (gain) item of Rs38cr. Adjusted for the exceptional item, consolidated PAT was up 73% yoy at Rs97cr, comfortably surpassing consensus estimate of Rs64cr.
Its consolidated revenue was up 53% yoy at Rs1,371cr, 20% higher than the consensus estimate of Rs1,144cr. Aided by excellent cost control, EBITDA surged 62% yoy to Rs170cr, while EBITDA margin expanded 67bps yoy to 12.4%. EBITDA exceeded the street estimate of Rs137cr by 24%, while EBITDA margin was clearly above the consensus estimate of 12%.
The stock is currently trading at Rs1,217.05 up by Rs90.45 or 8.03% from its previous closing of Rs1,126.60 on the BSE.
The scrip opened at Rs1,172 and has touched a high and low of Rs1,240 and Rs1,168.05 respectively.