Auto ancillary company Minda Corp said it had raised Rs 25 cr by issuing commercial paper. Commercial paper refers to unsecured, short-term promissory notes or debt issued by a company. These paper usually mature in a few weeks or months and are used for working capital and other short-term requirements. “This (issue) is in line […]
Minda Industries said that credit rating agency ICRA has upgraded the long term credit rating of the company by one notch from A+ to AA- and added that the outlook on the long-term rating was ‘Stable’. The short term rating of the company remains at A1+ added the company. ICRA has said that, the ratings […]
Minda Corporation said it has agreed to set up a fifty fifty joint venture with Shandong Beiqi Haihua Automobile Parts at a cost of $12.5 million. Other details of the agreement, including the location, were not revealed. The agreement was entered via Minda German subsidary, Minda Ktsn Plastic Solutions. It is an exporter from Germany,the […]
Minda Corporations reported revenue of Rs 6,954 million, an increase of 31.7% in the April-June Quarter in 2 016 compared to its revenue in the previous year, boosted by an acquisition. Profit After Tax (PAT) increased by 22.9% quarter on quarter to Rs. 249 million and EBITDA increased by 27.5% to Rs. 626 million. On the strong […]
