Results for the last financial quarter of FY’24 have already started and some companies have also released their latest shareholding pattern data.
Listed below is one stock associated with the Electric Vehicles (EV) sector in which the Foreign Institutional Investors (FIIs) & Domestic Institutional Investors (DIIs) have increased their stake in the company during the quarter ended March 2024.
Minda Corporation Limited
With a market capitalization of Rs 10,019.82 crores, the stocks of Minda Corporation Limited started their trading session on Wednesday at Rs 417.65 and closed the session at Rs 419.10, gaining approximately 0.20 percent compared to the previous closing levels of Rs 418.50 apiece.
According to the latest shareholding pattern data, both, Foreign Institutional Investors (FIIs) & Domestic Institutional Investors (DIIs), have increased their stake with the former increasing their stake by 1.34 percent, i.e., from 3.73 percent during Q3FY24 to 5.07 percent during Q4FY24, and the latter, during the same period, raised their stake by 3.79 percent, i.e., from 16.81 percent to 20.60 percent,
During the recent financial quarters, the company’s prime indicators of business, viz, its operating revenues as well as after-tax profits, showed a marginal dip in numbers.
The former reduced from Rs 1,196 crores during Q2FY24 to Rs 1,166 crores during Q3FY24, and the latter, keeping the timeframe the same, took a downward shift from Rs 59 crores to Rs 52 crores.
In addition to the above metrics, the company’s return ratios, viz, the return on equity (RoE) and the return on capital employed (RoCE), witnessed a jump during the recent financial years with the former increasing from 14.47 percent during FY21-22 to 17.93 percent during FY22-23, and the latter, from 13.20 percent to 17.34 percent.
As per the recent presentations, the company’s revenue mix, from the ‘product category’ aspect, portrays the ‘wiring harness’ contributing the majority portion, viz, 33 percent, ‘locksets’ contributing 24 percent, and the remaining comprising products such as die-casting, instrument clusters, and others.
Minda Corporation Limited is engaged in manufacturing as well as assembling safety & security systems and their associated components for the ‘automotive’ industry spanning across Asia, Europe, and American regions. It primarily offers mechatronic products such as smart key systems, starter motors, die-casting components, and exhaust gas sensors among others.
Written by Amit Madnani
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