External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Minda Industries (MIL) is India’s largest maker of automotive switches, horns, seats &amp; PV alloy wheels and third largest automotive lighting player</li><li>FY21 segment mix – 4-W 53%, 2-W 47%; switches, lighting, castings, horns and seats comprised 28%, 22%, 12%, 10% and 10% of sales, respectively</li><li>We value the company at a revised target price of Rs 1060 i.e. 44x P/E on FY24E EPS of Rs 24.1 (earlier target price: Rs 940).</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Minda Industries (MIL) is India’s largest maker of automotive switches, horns, seats &amp; PV alloy wheels and third largest automotive lighting playerFY21 segment mix – 4-W 53%, 2-W 47%; switches, lighting, castings, horns and seats comprised 28%, 22%, 12%, 10% and 10% of sales, respectivelyWe value the company at a revised target price of Rs 1060 i.e. 44x P/E on FY24E EPS of Rs 24.1 (earlier target price: Rs 940).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Minda Industries: Announces Fresh Round of Capex, Investment Spends

External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

Edelweiss Broking Limited

Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India. The company is a subsidiary of Edelweiss Group. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<p>Growth driven by new businesses</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Growth driven by new businessesContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Minda Industries Ltd. | Q2FY22 Result Update

<p>New products to drive growth</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

New products to drive growthContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Minda Industries Ltd. Rs Q1FY22 Result Update

External broker reports(aggregated public sources), Chola Securities

Chola Wealth Direct

<p>Background Established in 1958, Minda Industries (MIL) is a flagship Company of UNO MINDA GROUP and one of the leading suppliers of proprietary automotive solution to OEMs. Headquarter at Manesar, Gurgaon, the company has 62 plants globally and R&amp;D; centers spread across the globe in 8 locations. The company offers a wide range product across different verticals of auto components like switching systems, lighting systems, acoustic systems and alloy wheels among others. It has more than 230 design registration and more than 30,000 touch points.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Background Established in 1958, Minda Industries (MIL) is a flagship Company of UNO MINDA GROUP and one of the leading suppliers of proprietary automotive solution to OEMs. Headquarter at Manesar, Gurgaon, the company has 62 plants globally and R&amp;D; centers spread across the globe in 8 locations. The company offers a wide range product across different verticals of auto components like switching systems, lighting systems, acoustic systems and alloy wheels among others. It has more than 230 design registration and more than 30,000 touch points.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EARNINGS UPDATE- MINDA INDUSTRIES LTD 1QFY22

External broker reports(aggregated public sources), Axis Direct

Axis Direct

<p>We downgrade our rating to HOLD on expensive valuations of the stock with a target price of Rs 730 (earlier target Rs 704), implying an upside of 5% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We downgrade our rating to HOLD on expensive valuations of the stock with a target price of Rs 730 (earlier target Rs 704), implying an upside of 5% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Minda Industries: Weak Performance; Downgrade To HOLD

India

Uno Minda is a leading Indian manufacturer and global supplier of innovative automotive components and systems for original equipment manufacturers (OEMs). The company specializes in products such as lighting systems, alloy wheels, switches, seating systems, and acoustic products, serving passenger cars, commercial vehicles, and two- and three-wheelers, including electric and hybrid platforms. Uno Minda is headquartered in Gurugram, Haryana, India, and was founded in 1958.

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Uno Minda (UNOMINDA IN)

Minda Industries: Announces Fresh Round of Capex, Investment Spends

Minda Industries (MIL) is India’s largest maker of automotive switches, horns, seats & PV alloy wheels and third largest automotive lighting player

ICICI Securities Limited

Minda Industries Ltd. | Q2FY22 Result Update

Growth driven by new businesses

Edelweiss

Minda Industries Ltd. Rs Q1FY22 Result Update

New products to drive growth

Edelweiss

EARNINGS UPDATE- MINDA INDUSTRIES LTD 1QFY22

Background Established in 1958, Minda Industries (MIL) is a flagship Company of UNO MINDA GROUP and one of the leading suppliers of proprietary...

Chola Wealth Direct

Minda Industries: Weak Performance; Downgrade To HOLD

We downgrade our rating to HOLD on expensive valuations of the stock with a target price of Rs 730 (earlier target Rs 704), implying an upside of...

Axis Direct

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