The Board of Minda Corporation at its meeting held on 11 December 2020 has approved the appointment of Naresh Kumar Modi (DIN: 00089536) as an Additional Director to hold office up to the date of ensuing Annual General Meeting and Executive Director on the Board of the Company with effect from 11 December 2020, for a period of 5 (five) years subject to approval of the shareholders.

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The Board of Minda Corporation at its meeting held on 11 December 2020 has approved the issue and allotment of 1,18,57,143 equity shares (4.96% of paid up capital) of face value of Rs. 2 each, fully paid-up, on a preferential basis, at the issue price of Rs. 70 per equity share (including premium of Rs.68 per equity share) aggregating to Rs. 83 crore to Phi Capital Trust - Phi Capital Growth Fund - I.

Consequent to the above allotment, the paid up equity share capital of the Company has increased from 22,72,22,285 equity shares of Rs. 2 each aggregating to Rs. 45,44,44,570 to 23,90,79,428 equity shares of Rs. 2 each aggregating to Rs. 47,81,58,856.

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Minda Corporation announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 1 December 2020 .

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Net profit of Minda Corporation declined 32.40% to Rs 26.91 crore in the quarter ended September 2020 as against Rs 39.81 crore during the previous quarter ended September 2019. Sales rose 20.18% to Rs 635.67 crore in the quarter ended September 2020 as against Rs 528.91 crore during the previous quarter ended September 2019.

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