Minda Corporation

MINDACORP

NSE

BSE

SectorAutomobiles

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The Quarter story

The two most recent quarterly results, compared side-by-side.

Minda Corporation strengthens its balance sheet and secures a robust order book, while rising input and labor costs test operating margins.

Net Debt to EBITDA Ratio falls from 1.8x to 1.2x from Q4 2024-25 to Q4 FY26, easing leverage pressure

EBIT Margin eases from 8.8% to 7.8% from Q4 FY26 to Q1 2026-27, reflecting recent pricing pressure

Order book expands from ₹1,300 Cr to ₹3,500 Cr from Q1 FY26 to Q4 FY26, securing strong revenue visibility

Raw Material Cost climbs from ₹816 Cr to ₹1,180 Cr from Q4 2024-25 to Q1 2026-27, weighing on operating efficiency

Information & Connected Systems Revenue grows from ₹667 Cr to ₹983 Cr from Q4 2024-25 to Q1 2026-27, driving top-line expansion

Employee Cost jumps from ₹202 Cr to ₹279 Cr from Q4 2024-25 to Q1 2026-27, signaling significant headcount expansion

ROCE rises from 20.0% to 23.1% from Q4 2024-25 to Q4 FY26, reflecting efficient capital deployment

Other Expenses rise from ₹151 Cr to ₹176 Cr from Q4 2024-25 to Q1 2026-27, indicating growing operational overheads

Cash reserves increase from ₹97 Cr to ₹147 Cr from Q4 2024-25 to Q4 FY26, strengthening liquidity

Depreciation increases from ₹57 Cr to ₹69 Cr from Q4 2024-25 to Q1 2026-27, reflecting an aging asset base

About the company

Minda Corporation Ltd is an Indian automotive component manufacturer founded in 1985. The company specializes in safety and security systems for the automotive industry, offering products such as Mechatronics, Information and Connected Systems, Plastics and Interiors, Aftermarket solutions, Electronics Manufacturing, and Green Mobility solutions. Their product range includes ignition switches, keyless entry systems, die-cast parts, and various aftermarket components. Minda Corporation serves multiple vehicle segments, including two-three wheelers, passenger vehicles, commercial vehicles, and off-road vehicles. The company operates 34 plants and offices in India and overseas, with a design office in Japan. It supplies to Indian OEMs and exports about 20% of its products globally. Minda Corporation has expanded through acquisitions, joint ventures, and the establishment of new manufacturing facilities to enhance its product offerings and market presence.

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