Webinar on Minda Corporation’s 'IND A+' rating

India Ratings and Research (Ind-Ra) has upgraded Minda Corporation Limited’s (MCL) Long-Term Issuer Rating to ‘IND A+’ from ‘IND BBB(suspended)’. The Outlook is Stable.

The improvement in the credit profile of MCL has been substantial though gradual over the period FY13-FY16, with the company registering better capital structure and improved EBITDA margins leading to comfortable net financial leverage.  

Successful formation of JVs for technological assistance, acquisitions in India and abroad along with rationalisation of business structure through consolidation have helped diversify both product and customer base leading to improvement in revenue, margins and cash flows.

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