| Buy Minda (BSE Code : 532539) a must... Buy Why MINDA for Budget...? Stock grossly under priced as the PE is 18 for 08 which is not factoring its most valuable subsidiary Minda Autogas. Minda Autogas is in CNG and LPG kits. It is OEM supplier to Maruti, Hyundai. Now it has tied with Co is also expanding very fast for hydrogen kits. What this Budget can turn out to be boom for Minda is that small and mid sized cars with CNG and LNG ( OEM ) may get 8% excise relief. This may reduce the cost of the car in turn making OEM to subsidies CNG and LPG kits value. This will spark the top line of Minda in coming years out of proportion. In any case Minda Ind is all geared up to raise the top line from Rs 500 crs 5000 crs in next 4 yeas which will give CAGR growth of 50% plus. Minda will be an immerging player in this segment with market cap at just Rs 170 crs whereas the E V of Rs 2250 crs assessed by leading merchant bankers. We certainly believe that Minda Ind is a 10 bagger and every investor must have at least 500 to 1000 shares of Minda Industries if they want to subscribe to a growth story. |
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