Minda Corporation Ltd.
MINDACORPConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
16 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 16 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20200728 | 2020-06-30 | yes | |
| TRANSCRIPT | 20200818 | 2020-06-30 | yes | |
| TRANSCRIPT | 20210525 | 2021-03-31 | yes | |
| TRANSCRIPT | 20210817 | 2021-06-30 | yes | |
| TRANSCRIPT | 20211110 | 2021-09-30 | yes | |
| TRANSCRIPT | 20220209 | 2021-12-31 | yes | |
| TRANSCRIPT | 20220520 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220809 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221110 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230524 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230809 | 2023-06-30 | yes | |
| TRANSCRIPT | 20240209 | 2023-12-31 | yes | |
| TRANSCRIPT | 20250530 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250818 | 2025-06-30 | yes | |
| TRANSCRIPT | 20260527 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260819 | 2026-06-30 | yes |
MINDACORP
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 680.30 |
| 52-week range | 480.85 – 745.25 |
| Return 1M | -3.3% |
| Return 3M | 1.47% |
| Return 1Y | 17.48% |
| Return 3Y | 108.81% |
| Return 5Y | 433.57% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,846.00 |
| Other income | 2.00 |
| Total income | 1,848.00 |
| Cost of materials consumed | 1,190.00 |
| Purchases of stock-in-trade | 33.00 |
| Changes in inventories | -42.00 |
| Employee benefit expense | 279.00 |
| Finance costs | 31.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.65 | 0.00 |
| institutions foreign | 0.09 | 0.01 |
| institutions domestic | 0.18 | -0.01 |
| mutual funds | 0.15 | -0.00 |
| public | 0.34 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 16 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,147.00 | 1,068.00 | 1,075.00 | 1,075.00 | 1,196.00 | 1,166.00 | 1,215.00 | 1,192.00 | 1,290.00 | 1,253.00 | 1,321.00 | 1,386.00 | 1,535.00 | 1,560.00 | 1,704.00 | 1,846.00 |
| Other income | 4.00 | 5.00 | 2.00 | 2.00 | 2.00 | 2.00 | 10.00 | 8.00 | 12.00 | 9.00 | 3.00 | 3.00 | 3.00 | 3.00 | 6.00 | 2.00 |
| Total income | 1,152.00 | 1,073.00 | 1,077.00 | 1,076.00 | 1,198.00 | 1,168.00 | 1,225.00 | 1,201.00 | 1,302.00 | 1,262.00 | 1,325.00 | 1,389.00 | 1,538.00 | 1,564.00 | 1,709.00 | 1,848.00 |
| Cost of materials consumed | 708.00 | 645.00 | 638.00 | 658.00 | 737.00 | 704.00 | 687.00 | 714.00 | 787.00 | 761.00 | 794.00 | 838.00 | 949.00 | 987.00 | 1,027.00 | 1,190.00 |
| Purchases of stock-in-trade | 50.00 | 52.00 | 42.00 | 34.00 | 21.00 | 36.00 | 18.00 | 23.00 | 31.00 | 22.00 | 19.00 | 35.00 | 22.00 | 21.00 | 70.00 | 33.00 |
| Changes in inventories | -5.00 | -1.00 | -9.00 | -16.00 | -1.00 | -14.00 | 60.00 | 11.00 | -6.00 | -12.00 | 3.00 | -10.00 | -16.00 | -28.00 | 5.00 | -42.00 |
| Employee benefit expense | 155.00 | 157.00 | 167.00 | 175.00 | 187.00 | 186.00 | 179.00 | 188.00 | 193.00 | 200.00 | 202.00 | 227.00 | 235.00 | 242.00 | 230.00 | 279.00 |
| Finance costs | 10.00 | 11.00 | 12.00 | 14.00 | 15.00 | 14.00 | 12.00 | 10.00 | 11.00 | 12.00 | 34.00 | 33.00 | 31.00 | 29.00 | 30.00 | 31.00 |
| Depreciation and amortisation | 34.00 | 34.00 | 39.00 | 39.00 | 41.00 | 42.00 | 44.00 | 46.00 | 51.00 | 50.00 | 57.00 | 56.00 | 57.00 | 58.00 | 59.00 | 69.00 |
| Other expenses | 116.00 | 101.00 | 120.00 | 109.00 | 120.00 | 124.00 | 131.00 | 126.00 | 138.00 | 138.00 | 151.00 | 141.00 | 167.00 | 155.00 | 169.00 | 176.00 |
| Total expenses | 1,067.00 | 999.00 | 1,008.00 | 1,013.00 | 1,121.00 | 1,092.00 | 1,133.00 | 1,116.00 | 1,206.00 | 1,171.00 | 1,260.00 | 1,318.00 | 1,446.00 | 1,463.00 | 1,589.00 | 1,735.00 |
| Profit before exceptional items and tax | 85.00 | 74.00 | 69.00 | 63.00 | 77.00 | 76.00 | 92.00 | 84.00 | 96.00 | 90.00 | 65.00 | 71.00 | 93.00 | 101.00 | 121.00 | 113.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -4.00 | 3.00 | 124.00 |
| Profit before tax | 85.00 | 74.00 | 69.00 | 63.00 | 77.00 | 76.00 | 92.00 | 84.00 | 96.00 | 90.00 | 65.00 | 71.00 | 93.00 | 97.00 | 123.00 | 237.00 |
| Current tax | 22.00 | 23.00 | -43.00 | 15.00 | 18.00 | 29.00 | 15.00 | 24.00 | 26.00 | 27.00 | 18.00 | 19.00 | 28.00 | 38.00 | 26.00 | 36.00 |
| Deferred tax | -0.00 | -4.00 | -12.00 | 2.00 | 0.00 | -4.00 | 7.00 | -2.00 | -1.00 | -1.00 | 5.00 | -0.00 | -3.00 | -6.00 | 5.00 | 13.00 |
| Tax expense | 22.00 | 19.00 | -55.00 | 17.00 | 19.00 | 25.00 | 23.00 | 22.00 | 25.00 | 26.00 | 23.00 | 19.00 | 25.00 | 32.00 | 31.00 | 49.00 |
| Profit for the period | 58.00 | 52.00 | 122.00 | 45.00 | 59.00 | 52.00 | 71.00 | 64.00 | 74.00 | 65.00 | 52.00 | 65.00 | 85.00 | 84.00 | 124.00 | 206.00 |
| Profit attributable to owners | 58.00 | 52.00 | 122.00 | 45.00 | 59.00 | 52.00 | 71.00 | 64.00 | 74.00 | 65.00 | 52.00 | 65.00 | 85.00 | 86.00 | 125.00 | 206.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | 0.00 | — | — | — | -1.00 | -1.00 | 0.00 |
| Other comprehensive income | 1.00 | 1.00 | -4.00 | 34.00 | 169.00 | 69.00 | -77.00 | -3.00 | 8.00 | -4.00 | -2.00 | 0.00 | 3.00 | 1.00 | 7.00 | -2.00 |
| Total comprehensive income | 59.00 | 53.00 | 118.00 | 79.00 | 227.00 | 121.00 | -6.00 | 61.00 | 82.00 | 61.00 | 50.00 | 66.00 | 88.00 | 86.00 | 131.00 | 204.00 |
| Earnings per share, basic | 2.46 | 2.22 | 5.19 | 1.92 | 2.50 | 2.23 | 3.01 | 2.73 | 3.16 | 2.75 | 2.21 | 2.78 | 3.60 | 3.64 | 5.29 | 8.75 |
| Earnings per share, diluted | 2.42 | 2.19 | 5.10 | 1.89 | 2.46 | 2.19 | 2.96 | 2.69 | 3.11 | 2.71 | 2.18 | 2.73 | 3.54 | 3.58 | 5.21 | 8.62 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,813.00 | 2,368.00 | 2,976.00 | 4,300.00 | 4,651.00 | 5,056.00 | 6,185.00 |
| Other income | 44.00 | 33.00 | 24.00 | 16.00 | 16.00 | 32.00 | 15.00 |
| Total income | 2,857.00 | 2,401.00 | 3,000.00 | 4,316.00 | 4,667.00 | 5,089.00 | 6,201.00 |
| Cost of materials consumed | 1,538.00 | 1,415.00 | 1,725.00 | 2,617.00 | 2,786.00 | 3,056.00 | 3,801.00 |
| Purchases of stock-in-trade | 75.00 | 104.00 | 137.00 | 185.00 | 109.00 | 95.00 | 148.00 |
| Changes in inventories | 86.00 | -26.00 | 14.00 | -25.00 | 30.00 | -4.00 | -48.00 |
| Employee benefit expense | 503.00 | 383.00 | 474.00 | 626.00 | 728.00 | 782.00 | 934.00 |
| Finance costs | 50.00 | 36.00 | 31.00 | 41.00 | 56.00 | 67.00 | 122.00 |
| Depreciation and amortisation | 118.00 | 94.00 | 112.00 | 138.00 | 166.00 | 204.00 | 230.00 |
| Other expenses | 361.00 | 276.00 | 331.00 | 436.00 | 484.00 | 552.00 | 631.00 |
| Total expenses | 2,731.00 | 2,280.00 | 2,824.00 | 4,017.00 | 4,358.00 | 4,753.00 | 5,816.00 |
| Profit before exceptional items and tax | 126.00 | 121.00 | 176.00 | 298.00 | 308.00 | 336.00 | 385.00 |
| Exceptional items | -293.00 | 0.00 | 33.00 | 0.00 | 0.00 | 0.00 | -1.00 |
| Profit before tax | -167.00 | 121.00 | 208.00 | 298.00 | 308.00 | 336.00 | 383.00 |
| Current tax | 45.00 | 31.00 | 33.00 | 24.00 | 83.00 | 96.00 | 111.00 |
| Deferred tax | 1.00 | -0.00 | -9.00 | -20.00 | 1.00 | 1.00 | -5.00 |
| Tax expense | 45.00 | 31.00 | 24.00 | 4.00 | 83.00 | 96.00 | 106.00 |
| Profit for the period | -200.00 | 53.00 | 192.00 | 284.00 | 227.00 | 255.00 | 358.00 |
| Profit attributable to owners | — | 0.00 | 0.00 | 284.00 | 227.00 | 255.00 | 360.00 |
| Profit attributable to non-controlling interests | — | 0.00 | 0.00 | 0.00 | — | — | -2.00 |
| Other comprehensive income | 5.00 | 41.00 | 3.00 | -1.00 | 194.00 | -1.00 | 12.00 |
| Total comprehensive income | -194.00 | 94.00 | 195.00 | 283.00 | 422.00 | 254.00 | 370.00 |
| Earnings per share, basic | -8.98 | 2.33 | 8.16 | 12.09 | 9.65 | 10.85 | 15.31 |
| Earnings per share, diluted | -8.98 | 2.25 | 8.01 | 11.89 | 9.49 | 10.68 | 15.07 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 2,917.00 | 3,224.00 | 3,606.00 | 3,439.00 | 3,682.00 | 4,883.00 | 5,181.00 | 5,495.00 |
| Non-current assets | 1,129.00 | 1,618.00 | 1,921.00 | 1,460.00 | 1,565.00 | 3,205.00 | 3,315.00 | 3,478.00 |
| Current assets | 1,788.00 | 1,606.00 | 1,685.00 | 1,980.00 | 2,117.00 | 1,678.00 | 1,866.00 | 2,018.00 |
| Property, plant and equipment | 778.00 | 864.00 | 929.00 | 1,050.00 | 1,103.00 | 1,347.00 | 1,361.00 | 1,446.00 |
| Capital work-in-progress | 74.00 | 85.00 | 93.00 | 58.00 | 71.00 | 65.00 | 90.00 | 129.00 |
| Goodwill | 93.00 | 93.00 | 93.00 | 93.00 | 93.00 | 93.00 | 93.00 | 93.00 |
| Other intangible assets | 69.00 | 68.00 | 65.00 | 64.00 | 66.00 | 68.00 | 63.00 | 62.00 |
| Inventories | 552.00 | 573.00 | 557.00 | 527.00 | 544.00 | 581.00 | 649.00 | 710.00 |
| Trade receivables | 700.00 | 641.00 | 806.00 | 804.00 | 889.00 | 828.00 | 954.00 | 995.00 |
| Cash and cash equivalents | 70.00 | 108.00 | 91.00 | 152.00 | 130.00 | 76.00 | 88.00 | 103.00 |
| Total equity and liabilities | 2,917.00 | 3,224.00 | 3,606.00 | 3,439.00 | 3,682.00 | 4,883.00 | 5,181.00 | 5,495.00 |
| Equity | 1,429.00 | 1,591.00 | 1,877.00 | 1,981.00 | 2,102.00 | 2,202.00 | 2,440.00 | 2,659.00 |
| Equity share capital | 48.00 | 48.00 | 48.00 | 48.00 | 48.00 | 48.00 | 48.00 | 48.00 |
| Other equity | 1,381.00 | 1,543.00 | 1,829.00 | 1,933.00 | 2,054.00 | 2,154.00 | 2,392.00 | 2,596.00 |
| Total liabilities | 1,488.00 | 1,634.00 | 1,729.00 | 1,458.00 | 1,580.00 | 2,681.00 | 2,742.00 | 2,837.00 |
| Non-current liabilities | 267.00 | 365.00 | 387.00 | 356.00 | 335.00 | 718.00 | 726.00 | 692.00 |
| Current liabilities | 1,221.00 | 1,269.00 | 1,341.00 | 1,102.00 | 1,244.00 | 1,962.00 | 2,016.00 | 2,145.00 |
| Borrowings, non-current | 66.00 | 172.00 | 170.00 | 137.00 | 104.00 | 421.00 | 440.00 | 398.00 |
| Borrowings, current | 359.00 | 381.00 | 427.00 | 211.00 | 231.00 | 924.00 | 843.00 | 814.00 |
| Trade payables | 688.00 | 726.00 | 740.00 | 714.00 | 828.00 | 829.00 | 981.00 | 1,143.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 107.00 | 598.00 | 137.00 | 287.00 | 238.00 | 544.00 | 308.00 | 676.00 |
| Net cash from investing activities | -100.00 | -640.00 | -136.00 | 117.00 | -188.00 | -1,409.00 | -230.00 | -383.00 |
| Net cash from financing activities | -8.00 | 75.00 | -17.00 | -359.00 | -72.00 | 789.00 | -67.00 | -267.00 |
| Purchase of property, plant and equipment | 111.00 | 251.00 | 152.00 | 252.00 | 158.00 | 350.00 | 220.00 | 394.00 |
| Net increase in cash | -1.00 | 37.00 | -17.00 | 45.00 | -22.00 | -76.00 | 12.00 | 27.00 |
| con:CFO.BEFORE_TAX | 123.00 | 633.00 | 156.00 | 389.00 | 272.00 | 638.00 | 348.00 | 796.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 16.00 | 35.00 | 19.00 | 102.00 | 34.00 | 94.00 | 40.00 | 120.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 406.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 2.00 | 2.00 | 1.00 | 1.00 | 8.00 | 8.00 | 0.00 | 30.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 2.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 64.73 | 64.73 | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 | 0.65 | 64.84 | 0.65 | 0.65 | 0.65 | 0.65 |
| Domestic institutions | 11.83 | 11.88 | 13.19 | 16.81 | 20.60 | 20.63 | 18.86 | 18.42 | 0.18 | 18.17 | 0.19 | 0.18 | 0.19 | 0.18 |
| Mutual funds | — | — | — | — | — | — | — | — | 0.15 | 14.65 | 0.15 | 0.15 | 0.15 | 0.15 |
| Insurance companies | 1.28 | 1.02 | 1.54 | 3.27 | 3.60 | 3.70 | 3.48 | 3.04 | 0.03 | 3.52 | 0.04 | 0.04 | 0.04 | 0.03 |
| Foreign institutions | 5.07 | 5.74 | 5.53 | 3.73 | 5.08 | 6.07 | 7.62 | 7.99 | 0.08 | 8.83 | 0.09 | 0.09 | 0.09 | 0.09 |
| Government | — | — | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 |
| Public | 33.59 | 33.63 | 33.51 | 33.53 | 33.57 | 33.57 | 33.57 | 33.57 | 0.34 | 33.59 | 0.34 | 0.34 | 0.34 | 0.34 |
| Non-institutional | 16.69 | 16.00 | 14.79 | 12.99 | 7.90 | 6.86 | 7.09 | 7.16 | 0.07 | 6.58 | 0.06 | 0.06 | 0.06 | 0.06 |
| Shares outstanding | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 | 239079428 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Minda Vast | Joint Venture | Any other transaction, Purchase of goods or services | 354,320,000.00 | 4 |
| Minda VAST Access System Private Limited | JV | Any other transaction, Purchase of goods or services | 325,123,000.00 | 5 |
| MIL - (Minda Instrument Limited) | Subsidiary | Any other transaction, Purchase of goods or services | 321,971,000.00 | 9 |
| UNO Minda | Entity in which 20% or more of Equ | Any other transaction, Purchase of goods or services | 291,459,000.00 | 7 |
| Minda Silca Engineering Limited | JV/Associate | Any other transaction, Purchase of goods or services | 149,830,000.00 | 6 |
| Minda Silca Engineering Private Limited | JV/Associate | Any other transaction, Purchase of goods or services | 147,433,000.00 | 4 |
| PTMAI - (PT Minda Indonesia) | Subsidiary | Any other transaction, Purchase of goods or services | 146,025,000.00 | 6 |
| Mr. Ashok Minda | Key Managerial Personnel | Remuneration | 124,062,000.00 | 2 |
| Minda Capital Private Limited | Promoter Group | Any other transaction | 119,967,000.00 | 6 |
| Minda Capital Pvt Ltd | Enterprise in which directors of t | Any other transaction | 111,150,000.00 | 4 |
| MVACL - (Minda Vietnam) | Subsidiary | Any other transaction, Purchase of goods or services | 74,963,000.00 | 6 |
| Spark Minda Green Mobility Systems Pvt. Ltd | Subsidiary | Any other transaction, Purchase of goods or services | 65,910,000.00 | 7 |
| Furukawa Minda | Associate | Any other transaction, Purchase of goods or services | 53,400,000.00 | 6 |
| Mr. Vinod Raheja | Key Managerial Personnel | Remuneration | 33,059,000.00 | 2 |
| DANA TM4 India Private Limited | JV/Associate | Sale of goods or services | 30,560,000.00 | 2 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-19 | Q1FY27 | Read the call | |
| 2026-05-27 | Q4FY26 | Read the call | |
| 2025-08-18 | Q1FY26 | Read the call | |
| 2025-05-30 | Q4FY25 | Read the call | |
| 2024-02-09 | Q3FY24 | FINANCE AND STRATEGY | Read the call |
| 2023-08-09 | Q1FY24 | FINANCE & STRATEGY | Read the call |
| 2023-05-24 | Q4FY23 | FINANCE & STRATEGY, MARKETING, MERGER & ACQUISITIONS, OFFICER | Read the call |
| 2022-11-10 | Q2FY23 | GROUP CFO, MINDA CORPORATION LIMITED, MR. ANSHUL SAXENA, MR. ASHOK MINDA, MR. NEERAJ MAHAJ | Read the call |
| 2022-08-09 | Q1FY23 | MINDA CORPORATION LIMITED | Read the call |
| 2022-05-20 | Q4FY22 | DIRECTOR, LIMITED, MINDA | Read the call |
| 2022-02-09 | Q3FY22 | CORPORATION LIMITED, GROUP, MINDA CORPORATION LIMITED, NEERAJ | Read the call |
| 2021-11-10 | Q2FY22 | MINDA CORPORATION LIMITED | Read the call |
| 2021-08-17 | Q1FY22 | MINDA CORPORATION LIMITED | Read the call |
| 2021-05-25 | Q4FY21 | MINDA CORPORATION LIMITED | Read the call |
| 2020-08-18 | Q1FY21 | ANALYST:, EXECUTIVE OFFICER | Read the call |
| 2020-07-28 | Q1FY21 | CFO, MINDA CORPORATION, MINDA CORPORATION | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY23 | Q3FY22 | Q3FY24 | Q4FY21 | Q4FY22 | Q4FY23 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | But of course, as the year goes forward, we are also bound to look at growth related CAPEX is more also. | Yes, so on the capacity utilization levels of course there is a possibility to win businesses and increase our revenue as well as profitability, but w… | And sir you earlier mentioned CAPEX around Rs. | So, this is the drive what we are focusing on going forward in terms of the capacity expansion and utilization about 50% of our CAPEX goes in our gene… | Typically, our capex is about 4 to 5% in our company compared to the revenue. | And sir, lastly, what would be your maintenance capex per year? | Moving to the next slide, which shows a snapshot of the capex in our new facilities: From the top left, we can see the die casting facility coming up … | For FY27, can you indicate what would be your capex and investments? |
| Capital allocation | — | In line of the current performance board of directors has announced an interim dividend of 15% on face values which is Rs.0.30 per share for sharehold… | Board of Directors have declared interim dividend of 25% that is 50 paisa per equity share. | In light of the above financial performance and in accordance of our dividend policy, the Board has recommended a final dividend of 17.5% on the face … | In line with our current performance board of director has announced final dividend of 35% which is Rs.0.017 per equity share. | — | In January 2025, Minda Corporation entered into a strategic partnership through the acquisition of 49% stake in Flash Electronics, a key player in pow… | — |
| Costs | Going forward definitely where the raw material prices expected to come down, it may definitely increase going back forward. | It is also adversely impacted by higher raw material prices and indirect impact on semiconductors. | And second question sir in terms of imported components for your business or exports, are you seeing any logistical challenge currently and what kind … | But it has been also adversely affected by the lack of raw material, indexation, product mix, labor productivity. | So, move towards about a low double digit in about six to eight quarters from now and there are various initiatives that have been taken in that respe… | — | Also, there are synergies between Minda and Flash, any status or any plan you can indicate where joint sourcing could lead to cost savings? | Obviously, we all saw huge cost pressure because of commodities run up, and I'm hoping that things should settle down. |
| Debt and cash | Our net debt has increased to 934 crores primarily based on short-term borrowing and working capital and our net debt and debt to equity ratio stood a… | So there are various initiatives that we have taken over the last few quarters and few years of course while I have mentioned earlier on strengthening… | One, you said out of the four pillars of growth adding newer market is one of the key and second thing is post liquidation of the cash on balance shee… | In FY21 we continued to strengthen our balance sheet by doing Right Capital Allocation and keeping a tight control on Working Capital. | B) operationaal excellence through cost leadership. c) growing customer and mareket segments and generating high free cash flow and right capital allo… | My first question is on the working capital. | The net debt is INR 1,250 crores with the capital employed is INR 1,975 crores. | — |
| Demand | Here the revenue stability was supported on back of strong demand in domestic markets, increasing share of businesses with key customers and new busin… | Total lifetime order book in Q3FY22 is Rs.16516 million. | How do you see that increasing and lastly in EV share which has now reached 5%, 6% of revenue given that the share in your order book is higher, do yo… | In the second half as the economy started picking up pace, we saw good growth in Automotive sector due to pent up demand, preference for personal mobi… | Revival in economic activity helped in slight demand pick up for commercial vehicle and passsenger vehicle segment. | One, when the premiumization across verticals is happening, customer demand is focusing more on personalization and convenience and comfort moving fro… | Passenger vehicle demand was driven by a consumer shift towards SUVs and hatchbacks. | When those would be commissioned and visibility on capacity utilization for the same from our order book currently? |
| Guidance | I mean once we include the aftermarket side, the volume may increase and similarly when you come to the four-wheeler side, we expect it our serviceabl… | However, we expect to continue our consistent growth strategy by strengthening the core business and diversifying in new opportunity, which mega trend… | Moving forward in about 26 to 27 this 5% is expected to be about 10% to 15% of our revenue because the order books are being done, but we would like t… | We are cautiously optimistic on the outlook for FY22 due to various factors like higher spend in infrastructure, PLI scheme, scrappage policy and the … | How is the outlook for this business and what is the break-even? | And what kind of the margin guidance you have in this business? | But in near term, FY26, FY27, how much cross-selling can we expect? | We expect the EBITDA performance to improve in the current fiscal year with the improvement in top line as well. |
| Margin | We continue to give growth momentum with highest ever quarterly revenue, double digit EBITDA margin on continued and sustainable basis on sequential-o… | The company consolidated revenue stood at Rs.7383 million with an EBITDA margin of 10.7%. | EBITDA has been at Rs.376 crores and the margin has grown in the first 9 months to about 11%. | In line with our promise to deliver consistent and sustainable profitability, in Q4 FY21, the Company posted again double digit improved EBITDA margin… | Our focus is on consitent and sustainable performance, Minda Corporation has achieved highest ever qaurterly revenues of INR 9478 million with EBITDA … | So as the semiconductor prices is going down, can we see a double-digit margin in the wiring harness business? | The Company reported highest-ever EBITDA of INR 153 crores, along with the highest ever margin of 11.6% for the quarter, demonstrating strong operatio… | So any escalation should not necessarily eat up our margin. |
| People | So, our capacity utilization is different across different products and divisions and plants. | If I speak about the wiring harness division it is somewhere again about 60% to 65%, in our security division this is somewhere about 55% to 60% while… | Point number two on the capacity utilization, different verticals and different divisions have different capacities. | I will be maybe happy to check back on the numbers of the capacity utilization on the die-casting division, but we are about 92% utilized of our capac… | The Die Casting facility with the current capacity utilization would be somewhere about 60 to 70%. | So, different plants and different product lines have different capacity utilizations. | If you can give some ballpark number for both the segments, approx., blended average utilization for Mechatronics division as well as for the Connecte… | Hence, we can see the rise, particularly, and as well as the high utilization of capacities from the Flash point of view. |
| Pricing | Lastly if I see the revenue breakup between aftermarket exports and OEM, OEM pricing share has gone up. | February 04, 2022 commodities have we seen the last leg of commodity price increase and how is the lead lag in terms of your cost increase versus the … | — | — | Despite that we have pricing improvement of 70 BPS. In this situation what could be the assumption for FY2023? | — | — | — |
| Revenue growth | Quarterly absolute EBITDA of 1,238 million with the Minda Corporation November 04, 2022 growth of 60% year-on-your basis. | So on the EV market front, I mean, for this year if I look at the overall Minda Corporation we will be having a top line of about 20 to 25 Crores comi… | As you said it takes 2 years, 3 years to ramp up, but what kind of a visibility in revenue growth prospects wise it gives us means like if based on cu… | 794 Cr in Q4 FY21, which is a growth of 48% Y-o-Y basis. | To drive the growth at Minda corporation our continued focus is on; a) driving technology from in-house initiative and global tie ups. | — | Minda Corporation continued to strengthen its market position in Q4 FY25. The Company surpassed consensus estimates, delivering the highest-ever quart… | So if the industry grows about 10%, so we should look at revenue growth in Minda Corporation to the tune of 15% plus. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2020-07-28 | Q1FY21 | MINDA CORPORATION | So if you reduce our share of the profits in our joint ventures and we reduced the CAPEX of 146 crores we expect on a consolidated basis for the full year it leaves us with a free cash flow of 282 crores. |
| 2020-07-28 | Q1FY21 | MINDA CORPORATION | Mechatronics will now contribute about 60% of our turnover which is about 50% in Mechatronics plus 10% in aftermarket and connected and security systems will be about 40% and we also have a robust India Plastics business which we are nurturing and growing which we expect this to make a significant impact in this pie chart in the coming years. |
| 2021-08-17 | Q1FY22 | MINDA CORPORATION LIMITED | Of course, the profitability of this is not going to be in line of 10 to 11%, we expect it to be higher. |
| 2022-11-10 | Q2FY23 | MR. ASHOK MINDA | I mean once we include the aftermarket side, the volume may increase and similarly when you come to the four-wheeler side, we expect it our serviceable side to be about 1,500 to 2,000 crores by 2030. |