Minda Corporation Ltd.

NSE: MINDACORP · Auto Components & Equipments

52W Range₹445 ₹714

Snapshot

Unlock Minda Corporation Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Minda Corporation Limited is a prominent manufacturer of diverse automobile components, specialising in electronic and mechanical security systems, die-casting, and connected vehicle technologies. The company serves a wide range of segments including two-wheelers, passenger vehicles, and commercial vehicles.

Business Model

The company generates revenue through the design, development, and manufacturing of automotive parts supplied to original equipment manufacturers and the aftermarket sector. Its business model leverages technical expertise in mechatronics and plastics to cater to both internal combustion engine and electric vehicle platforms.

Growth Outlook

Growth is driven by the increasing adoption of connected vehicle technologies, smart key systems, and the transition towards electric vehicle components. The company continues to expand its portfolio in sensors and advanced electronic systems to align with evolving automotive trends.

Key Risks

  • Cyclical Automotive Demand. The company's financial performance is highly sensitive to the cyclical nature of the automotive industry and fluctuations in vehicle production volumes.
  • Technological Obsolescence. Rapid shifts towards electric vehicles and advanced electronics require continuous R&D investment to remain competitive against global peers.
  • Raw Material Price Volatility. Fluctuations in the prices of aluminium, steel, and electronic components can significantly impact operating margins.
  • Customer Concentration. Heavy reliance on a limited number of large automotive original equipment manufacturers poses a risk to revenue stability if key client contracts are lost.

Price

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Key Metrics

REVENUE

₹6,185 Cr

TTM · consolidated

+22.3%YoY

NET PROFIT

₹358 Cr

TTM · consolidated

+40.3%YoY

EPS

₹15.31

TTM · consolidated

+41.1%YoY

RETURN ON EQUITY

15.5%

TTM · consolidated

+3.0 ppYoY

RETURN ON CAPITAL EMPLOYED

16.7%

TTM · consolidated

+0.5 ppYoY

P/E

44.6x

Q4 FY26 · consolidated

44.6 vs 78.8x5Y avg

EV/EBITDA

23.3x

Q4 FY26 · consolidated

23.3 vs 37.9x5Y avg

EBITDA MARGIN

11.9%

TTM · consolidated

-0.1 ppYoY

NET PROFIT MARGIN

7.3%

Q4 FY26 · consolidated

+3.4 ppYoY

DEBT TO EQUITY

0.5%

Q4 FY26 · consolidated

-0.1 ppYoY

Peers · Auto Components & Equipments

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Minda Corporation Ltd.MINDACORP
11,87944.6123.3422.3%11.9%15.5%16.7%+30.6%
Amara Raja Energy & Mobility Ltd.ARE&M
13,43418.4210.327.5%11.6%11.8%15.5%-8.6%
Shriram Pistons & Rings LimitedSHRIPISTON
13,25033.4320.4825.6%22.2%22.3%25.1%+75.9%
Sansera Engineering LimitedSANSERA
13,21262.3429.8615.9%19.8%11.5%14.5%+136.1%
Gabriel India LimitedGABRIEL
12,38877.6342.2514.9%9.9%20.5%26.5%+29.7%
Lumax Auto Technologies LimitedLUMAXTECH
10,83735.6515.4133.9%14.5%33.6%27.2%+28.0%

As of Q4 FY26

Financials