Minda Industries Limited (MIL), India's largest manufacturer of 2-3 wheeler automotive switches, announces audited financial results for FY 2007-2008

Minda Industries Limited (MIL), the flagship company of the Rs. 1000 crore NK Minda Group, announced its audited annual results for the year 2007-2008. The net sales for the year 2007-2008 grew to Rs.396.10 crore from the FY 2006-2007 sales of Rs.386.60 crores.

The Profit after Tax of MIL for the FY 2007-2008 was Rs.1572.44 lakhs, up from Rs. 1353.52 lakhs for FY 2006-2007, witnessing a marked increase of 16.71%.
The earning per share was Rs. 14.67 in FY 2006-2007, up from Rs. 12.58 in 2006-2007, marking a rise of 16.61 %. The company has also proposed a dividend of 25 %, which is unchanged from last year.

The PAT for the 4th quarter of FY 2007-08 grew to 449.01 lakhs from 273.00 lakhs in FY 2006-07 showing an increase of 64.47%.

Mr. N.K Minda, Managing Director, Minda Industries Limited, says “The last year was a tough one for the entire auto sector and we are not an exception. Though we were able to maintain our topline, the profitability has increased due to various cost cutting measures and increased thrust on productivity”. Elaborating on the scenario in the current year he said, “The increasing cost of raw materials is a constant source of worry and coupled with high oil prices we feel that the current year is going to be challenging. However the effect of our expansion in the last two years, in capacities and product portfolio, should be visible in the current year which will be the first full year of operation for Batteries, Blow Moulding and our Pantnagar Facility”.