The open market transaction took place at an average price of 208.9820 rupees per share, Minda corp said in an exchange filing. "This is merely a financial investment without providing the company any special rights in Pricol Ltd other than the rights as a shareholder," Minda said.
“The conversion from IC to EV will help in premiumisation – will see 10% more than industry growth.”
The company posted 26.9 percent (YoY) increase in total revenue at Rs 7,822 million compared to Rs 6,162 million in
Minda Corporation Limited has been allocated 500 Sq. feet of space within the jail premises which can be amplified in future as and when the requirement arises.
The total registered capital of the JV would be USD 5,000,000 (around Rs 33.3 crore), of which, Minda KTSN and SBHAP shall contribute for 50 percent of the equity interest in the JV from both parties.
The EBITDA witnessed a year-on-year jump of 27.5 percent at Rs 626 million, while its net debt stood at Rs 5,234 million as against Rs 4,548 miilion during fourth quarter of fiscal year 2016.
For the entire FY 2016, the consolidated net profit stood at Rs 107.3 crore, which is a 19.8 percent jump over the net profit in FY 2015
Minda will give Rs 27.82 crore for 100 percent equity, and another Rs 6.7 crore for takeover of loan. The company will also infuse additional funds of Rs 11 crore.
Total revenue too saw an increase of 22.5 percent to Rs 656 crore in the last quarter
The company attributed this financial performance to new product development
Sometimes, a downturn is necessary to remind a company of charting a new path towards discovering the new focus point and improving operating efficiency.
Its revenue too jumped 23.6 percent to Rs 1970.6 crore in FY15, up from Rs 15,939 crore in FY14.
US-based Vehicle Access Systems Technology (VAST) has taken a 50% stake in the business after previous partner, French auto parts maker Valeo, exited the joint-venture by selling its stake to Minda 18 months ago. The JV will now be called Minda VAST Access Systems.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Sunil Behari Mathur | 00013239 | sunal45@gmail.com | Director | 10 Sep,2015 |
| Thankom T Mathew | 00025326 | Director | 27 Mar,2015 | |
| Rakesh Chopra | 00032818 | rchopra@alvarezandmarsal.com | Director | 27 May,2010 |
| Ashok Minda | 00054727 | akm@minda.co.in | Wholetime Director | 22 Jul,1987 |
| Avinash Parkash Gandhi | 00161107 | avinashgandhi@gmail.com | Director | 28 Jan,2006 |
| Ashok Kumar Jha | 00170745 | ashokjha273@gmail.com | Director | 14 Nov,2014 |
| Laxman Ramnarayan | 03033960 | r.laxman@kotak.com | Director | 28 Mar,2011 |
| Sudhir Kashyap | 06573561 | skashyap@mindacorporation.com | Wholetime Director | 05 May,2013 |
A component is a part or element that make up a whole machine. In the automotive industry, a vehicle comprises of a number of different components, which when put together, makes up a whole vehicle. Following is the list of the important automotive components:-
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