'Minda Industries hosted a conference call on Aug 24, 2020. In the conference call the company was represented by Sunil Bohra, Group CFO; Tripurari Kumar, GM Finance and H S Rana – Deputy Manager, Strategic Planning.
Key takeaways of the call
Sharp 71% fall in sales was primarily on account of extended lock down and low scale operations permitted for the first half of Q1FY21. 78% drop in auto industry production volume.
All facilities of the company are now operational across the globe and production levels have witnessed month on month improvement in utilization levels. Plants operated at about 70% pre Covid levels in July 2020 and is currently operating at about 80% in August 2020.
Production at overseas operations of the company have also resumed with august production levels stand at 85% in Europe, 75% in Mexico and 60% in ASEAN.
So far 2-wheelers have done well than 4-wheelers due to good harvest and DBT to Jandhan account. The company is op...
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