Minda Industries Limited (MIL), the flagship company of the Rs.1000 crore NK Minda Group, announced its unaudited financial results for the quarter ended 30th June 2008. The sales for Q1 in 2008-2009 were Rs. 10,474.48 lakh up from Rs. 9,155.41 lakh in Q1 2007-2008. Profit after tax was up to Rs. 273.26 lakh in the same quarter as compared to Rs. 269.68 lakh in Q1 2007-2008.

The earning per share was Rs. 2.60 in the quarter ended June 30, 2008, up from 2.57 in the quarter ended June 30, 2007.

“The pain of the slowdown still continues and the margins are under pressure even as we take steps to mitigate the effects and focus on addition of newer products. We expect to maintain our topline growth of 35-40% for the entire year and expect the pressure of inflation to ease in the last quarter of this year. We are hoping to see a decrease in international commodity prices in the 3rd quarter which should see our margin pressures easing” says Mr. N.K. Minda, Managing Director, Minda Industries Limited. MIL is the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers) and 2 wheeler batteries. The company recently bagged an Rs.50 crore order from Volkswagen for its lighting division. MIL is expected to commercially launch its 4 wheeler Batteries in the 3rd Quarter of this year and Blow Moulding facility near Bangalore will begin production in the last quarter of this financial year.

Minda Industries Limited has its manufacturing plants in Delhi, Gurgaon, Pune, Hosur, Baddi, Bidadi & Aurangabad and has over 2400 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

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About NK Minda Group

NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 238 million (over Rs.1000 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers & off roaders, Switches for 4 wheelers, Lighting, Battery, Blow Moulding, Horns, Alternate Fuel kits, Mirrors and Starter Motors & Alternators. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan, Fiamm S.p.A, Italy and Valeo of France.