Minda Industries : Financial Result Updates

Ref. No. Z-IV/R-39/D-2/NSE/207 & 174

Date : 07/02/2022

National Stock Exchange of India Ltd.	BSE Ltd.
Listing Deptt., Exchange Plaza,	Regd. Office: Floor - 25,
Bandra Kurla Complex, Bandra (E),	Phiroze Jeejeebhoy Towers,
Mumbai - 400 051	Dalal Street, Mumbai-400 001.
NSE Scrip: MINDAIND	BSE Scrip: 532539

Sub:-Outcome of the Board Meeting

1. Un-auditedFinancial Results (Standalone & Consolidated) for the quarter and nine months ended on 31 December, 2021
2. Interim Dividend and fixation of Record Date
3. Investment in equity shares of Minda Kosei Aluminum Wheel Private Limited
4. Acquisition of stake in YA Auto Industries, partnership firm
5. Acquisition of stake in Auto Component, partnership firm
6. Acquisition of stake in Samaira Engineering, partnership firm
7. Acquisition of stake in S.M. Auto Industries, partnership firm

Dear Sir(s),

We wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Monday, February 7, 2022, approved the following matters: -

1. Un-auditedFinancial Results (Standalone & Consolidated) for the quarter and nine months ended on December 31, 2021
   Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR"), we are enclosing herewith the following statements, duly approved as an Annexure I: -
2. 1. Un-auditedStandalone Financial Results for the quarter and nine months ended on December 31, 2021 alongwith Limited Review Report of the Statutory Auditors' thereon.
   2. Un-auditedConsolidated Financial Results for the quarter and nine months ended on December 31, 2021 alongwith Limited Review Report of the Statutory Auditors' thereon.

These aforesaid results are also being made available on the website of the company at www.unominda.com

Contd…. Page /2

�PL.0Cl') t-o.v-ai

CIN No: L74899DL1992PLC050333

-2-

1. Interim Dividend and fixation of Record Date
   The Board of Directors approved and declared an interim dividend at the rate of Rs. 0.50 per share i.e. 25% on 28,56,20,441 equity shares (face value of Rs. 2 each) for the financial year 2021-22.
   In terms of Regulation 42 of the SEBI (LODR), the Board has fixed Thursday, 17 February, 2022, as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for the payment of interim dividend.
   The payment of interim dividend/dispatch of dividend warrants will be completed on or before 30 days from the date of declaration.
2. Investment in equity shares of Minda Kosei Aluminum Wheel Private Limited (''Minda Kosei'')
   Minda Kosei is engaged in the development, manufacturing and sales of aluminum alloy wheels for major car OEMs and aftermarket in India.
   It is a 70:30 joint venture company between Minda Group and Kosei International Trade and Investment Company Limited, Japan ("Kosei Japan"). Investment in Minda Kosei by Minda Group is held 69.99% by Minda Industries Limited and 0.01% by Minda Investments Limited.
   The Board of Minda Kosei has made a Right Issue Offer of Rs. 61. 20 Crore. Kosei Japan and Minda Investment has renounced their Right in favour of Minda Industries Limited.
   Pursuant to said Right Issue and further renunciation of right by Kosei Japan and Minda Investments Limited, the Board of Directors of the Company today approved the further investment of Rs.61.20 Crores in Minda Kosei, by way of subscription to 61,200,000 equity shares having face value of Rs.10 at par. Resultantly, MIL's stake in Minda Kosei, post investment will increase from 70% to 77.35%.
   The transaction is expected to be completed on or before March 31, 2022.
   Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, the requisite details against the aforesaid matter is attached as Annexure-II, to this letter.
3. Acquisition of stake in YA Auto Industries, Partnership Firm
   YA Auto Industries, is a partnership firm, between Minda Industries Limited (MIL) (holds 51%), Ms. Suman Minda (holds 36.50%) and Mr. Sanjeev Garg (holds 12.50%). It is engaged in manufacturing of Auto electrical parts.

Contd…P/3

�PL.0Cl') t-o.v-ai

-3-

The Board approved the further investment upto Rs. 1.79 Crores in YA Auto Industries for acquisition of 36.50% stake from Ms. Suman Minda. Post this acquisition, MIL stake in YA Auto Industries, will be increased from 51% to 87.50%.

The transaction is expected to be completed on or before March 31 2022.

Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, the requisite details against the aforesaid matter is attached as Annexure-III, to this letter.

1. Acquisition of stake in Auto Component, Partnership Firm
   Auto Component, is a partnership firm, between Minda Industries Limited (MIL) (holds 48.90%), Mr. Nirmal K. Minda (holds 20.55%), Ms. Pallak Minda (holds 25.55%) and Mr. Sanjeev Garg (holds 5.00%). It is engaged in manufacturing of Auto lights, i.e.
   Head /tail lamps.
   The Board approved the further investment upto Rs. 3.63 Crores in Auto Component for acquisition of 20.55 % stake from Mr. Nirmal K. Minda and 25.55% stake from Ms. Pallak Minda. Post this acquisitions, MIL stake in Auto Component, will be increased from 48.90% to 95%.
   The transaction is expected to be completed on or before March 31 2022.
   Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, the requisite details against the aforesaid matter is attached as Annexure-IV, to this letter.
2. Acquisition of stake in Samaira Engineering, Partnership Firm
   Samaira Engineering, is a partnership firm, between Ms. Paridhi Minda (holds 43.75%), Ms. Pallak Minda (holds 43.75%) and Mr. Sanjeev Garg (holds 12.50%). It is engaged in Manufacturing of auto electrical parts & accessories.
   The Board approved the investment upto Rs. 8.88 Crores in Samaira Engineering for acquisition of 43.75% stake from Ms. Paridhi Minda and 43.75% stake from Ms. Pallak Minda. Post this acquisition, MIL will hold 87.50% stake in Samaira Engineering.
   The transaction is expected to be completed on or before March 31 2022.
   Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, the requisite details against the aforesaid matter is attached as Annexure-V, to this letter.

�PL.0Cl') t-o.v-ai

Contd…P/4

-4-

1. Investment in S. M. Auto Industries, Partnership Firm
   S.M. Auto Industries, is a partnership firm, between Ms. Paridhi Minda (holds 37.50%), Ms. Suman Minda (holds 50.00%) and Mr. Sanjeev Garg (holds 12.50%). It is engaged in Manufacturing of automotive bulbs and Lever/yoke.
   The Board approved the investment upto Rs. 3.21 Crores in S.M. Auto Industries for acquisition of 37.50% stake from Ms. Paridhi Minda and 50.00% stake from Ms. Suman Minda. Post this acquisition, MIL will hold 87.50% stake in S.M. Auto Industries.
   The transaction is expected to be completed on or before March 31 2022.
   Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, the requisite details against the aforesaid matter is attached as Annexure-VI, to this letter.

The meeting commenced at 10.40 a.m. and concluded at 11.44 a.m. It is for your information

and records please.

Thanking you.

Yours faithfully,

For Minda Industries Ltd.

�PL.0Cl') t-o.v-ai

Tarun Kumar Srivastava

Company Secretary & Compliance Officer

Encl: As above.

ANNEXURE -I

MINDA INDUSTRIES LIMITED

REGD. OFFICE : B-64/1, WAZIRPUR INDUSTRIAL AREA, DELHI-110052

PH: 011- 27374444, 0124- 2290427 Fax: [phone]

CIN: L74899DL1992PLC050333

Website: www.unominda.com

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2021

(Rs. in Crore except per share data)

				Quarter ended		Nine Months ended	Year ended
		PARTICULARS	31-Dec-21	30-Sep-21	31-Dec-20	31-Dec-21	31-Dec-20	31-Mar-21
			(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1	Income
	(a)	Revenue from operations	1,333.70	1,299.76	1,193.17	3,518.96	2,394.53	3,700.64
	(b)	Other income	20.81	41.58	7.01	65.68	50.46	54.62
	Total income	1,354.51	1,341.34	1,200.18	3,584.64	2,444.99	3,755.26
2	Expenses
	(a)	Cost of materials consumed	749.63	709.77	626.29	1,976.13	1,260.75	1,994.40
	(b)	Purchases of stock-in trade	176.03	194.01	178.70	411.04	344.37	465.47
	(c )	Changes in inventories of finished goods, stock-in trade and work-in-	(23.71)	(40.25)	(23.50)	(50.03)	(43.36)	(38.51)
		progress
	(d)	Employee benefits expense	157.35	167.20	134.31	464.05	330.65	484.05
	(e)	Finance cost	5.78	10.27	10.77	27.75	31.53	38.53
	(f)	Depreciation and amortisation expense	44.44	47.30	48.09	134.82	126.09	177.85
	(g)	Other expenses	158.06	162.06	143.00	436.59	308.32	456.03
	Total expenses	1,267.58	1,250.36	1,117.66	3,400.35	2,358.35	3,577.82
3	Profit before exceptional items and tax (1-2)	86.93	90.98	82.52	184.29	86.64	177.44
4	Exceptional items (Refer note 6)	-	-	-	-	-	(10.00)
5	Profit before tax (3+4)	86.93	90.98	82.52	184.29	86.64	167.44
6	Income tax expense
	a) Current Tax	11.54	19.08	12.75	32.31	14.84	31.73
	b) Deferred Tax (credit)/charge	9.63	3.82	8.68	13.43	9.11	16.73
	Total tax expense	21.17	22.90	21.43	45.74	23.95	48.46
7	Profit for the period (5-6)	65.76	68.08	61.09	138.55	62.69	118.98

8 Other comprehensive income/(loss) for the period

Items that will not be reclassified to profit and loss in subsequent period

	(i) Remeasurement gain/ (loss) on defined benefit obligation	(1.14)	(3.27)	(2.87)	(3.41)	(6.72)	3.95
	(ii) Income-tax relating to items that will not be reclassified to profit and loss in	0.40	1.14	1.05	1.19	2.39	(1.29)
	subsequent period
	Other comprehensive income/(loss), net of tax	(0.74)	(2.13)	(1.82)	(2.22)	(4.33)	2.66
9	Total comprehensive income/(loss) for the period (7+8)	65.02	65.95	59.27	136.33	58.36	121.64
10	Paid up equity share capital (Face value Rs. 2 each per share)	57.12	57.12	54.39	57.12	54.39	54.39
11	Other Equity (excluding revaluation reserve shown in Balance Sheet)	-	-	-	-	-	1,593.45
12	Earnings per share (Face value Rs. 2 each) (not annualised)
	a) Basic (in Rs.)	2.42	2.41	2.25	4.93	2.32	4.45
	b) Diluted (in Rs.)	2.41	2.40	2.15	4.91	2.30	4.27