Shares of Minda Corporation closed over 4% higher at ₹685 on Tuesday, November 3, following the announcement of exceptional Q2 FY27 results. The stock opened at ₹660 and rallied 8.6% to hit an intraday high of ₹714.50 after the earnings announcement during market hours at around 3 pm. According to latest reports, the strong market response reflects investor confidence in the company's robust financial performance and strategic growth initiatives in the electric vehicle segment.
Minda Corporation Ltd delivered exceptional financial results for Q2 FY27, with consolidated net profit jumping 68.2% year-on-year to ₹143 crore. According to reports from Rediff Moneynews, this represents a significant improvement from the ₹85 crore net profit recorded in Q2 FY26. The company achieved the highest-ever quarterly revenue with 42.6% YoY growth, with revenue from operations increasing by ₹654 crore to ₹2,189 crore compared to ₹1,535 crore in the year-ago period. The company's EBITDA increased 45.2% to ₹257 crore compared to ₹177 crore in the previous year, with EBITDA margin expanding by 20 basis points to 11.7% from 11.5%. As per CNBC-TV18, the company's revenue from operations increased by 42.6% year-on-year to ₹2,189 crore during the quarter under review, demonstrating robust top-line growth across all business segments.
According to Rediff Moneynews, electric vehicle-related products accounted for around 35% of new order wins during the quarter, highlighting the company's strategic focus on the EV segment. The company's EV product revenue grew 113% YoY, driven by accelerating penetration in the EV segment. The EV segment now contributes 10% of Minda Corporation's revenue as of Q2FY27, representing a significant milestone in the company's strategic pivot toward electric mobility. The company's Chairman and Group CEO Ashok Minda emphasized that Q2 and H1FY27 reflected continued progress in their long-term growth strategy driven by demand across key vehicle segments and execution across their businesses. Minda Corporation manufactures auto parts including switches, driver information systems, access control products, sensors, motors, turbochargers, EV powertrains, and fuel pumps across various vehicle segments.
As reported by CNBC-TV18, the company's board approved an additional investment of up to ₹37 crore in Minda HCMF Technologies Private Limited, its 50:50 joint venture with HCMF Co. Ltd. The investment will be made through the subscription of three crore equity shares of ₹10 each, with Minda Corporation's total investment in the joint venture increasing to approximately ₹60 crore. During the year, Minda Corporation had also invested ₹80 crore in group companies including Spark Minda Green Mobility Systems Private Limited, Minda HCMF Technologies Private Limited and Spark Minda – Toyodenso India Private Limited to support business expansion. The company announced plans to invest around ₹270 crore to establish a greenfield facility in Pune's Chakan to manufacture thin-film transistor (TFT) displays for the automotive sector, approved under the government's Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
Choice Institutional Equities has issued a 'BUY' rating on Minda Corp with a target price of ₹860, as reported in their research dated November 3, 2026. According to their analysis, Minda Corporation delivered its highest-ever quarterly performance with revenue and EBITDA growing 42.6% and 44.7% YoY respectively. The brokerage values the company at 30x the average FY28E/FY29E EPS and reiterates their target price of ₹860. Emkay Global Financial has issued a 'BUY' rating with a target price of ₹900, raising their target from ₹850 based on 33x Sep-28E PER. The management remains committed to its Vision 2030 targeting ₹175 billion revenue, implying approximately 30% FY26-30E CAGR. PVs are expected to contribute over 25% of the revenue mix (vs ~18% currently), supported by multiple product developments targeting the segment. Key growth drivers include TFT cluster (multiple orders secured; lifetime value of >₹10 billion; SOP from FY28), sunroofs (SOP commenced in Q2), and power footstep (first order secured).
