Minda Corporation Limited was founded in 1958 and is based in Noida, India. The company is primarily engaged in the manufacturing and assembly of safety and security systems and their associated components for the automotive industry. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company was formed after a split between the businesses of the Minda brothers in 2012. Presently, NK Minda owns and operates Minda Industries Ltd and Ashok Minda is the owner of Minda Corporation Ltd.
The company was formerly known as Minda Switch Auto Pvt. Ltd. and changed its name to Minda Corporation Limited in 2007. The company was originally incorporated in March 1985 as 'Minda Huf Limited' and changed its name from Minda Huf Limited to Minda Corporation Limited effective from March 28, 2007. The company was established with the main object for manufacture of Ignition Switches for Indian Automotive Industry.
The company commands a market share of approximately 40% in 2W lock sets, and wiring harness for 2W, 3W, tractors, and CVs. Minda Corporation Limited is the leading manufacturer of automotive components in India. The company supplies parts and components to manufacturers of passenger vehicles, commercial vehicles, motorcycles and scooters, and off-road vehicles.
The company has 28 manufacturing facilities in India and 6 abroad and is headquartered in Noida. The company has a workforce of more than 16,000 employees and has filed around 32 patents in the automotive segment. The company operates manufacturing facilities in Greater Noida, Murbad (Mumbai), Kakkalur (Chennai), Pithampur (Indore), and Pune. In India, it has 7 offices in different regions to handle clients from each region. The company also operates 2 international offices and 3 design offices.
The company's diverse product portfolio includes mechatronics and vehicle access systems, wiring harness, interior plastics division, advanced technologies, and aftermarket. Its mechatronics include ignition switch cum steering lock, keyless entry, mechatronics handle, immobilizer-fuel tank cap, aluminum die casting, compressor housing, alternator, and starter motor.
The company offers mechatronic products such as ignition switch cum steering locks, smart key systems, mechatronics handles and immobiliser system, die casting components, starter motors, and alternators; information and connected systems including wiring harness, connectors, terminals, and components; and instrument clusters and dashboard, as well as speed, temperature, position, pressure, and exhaust gas sensors.
The company also provides plastic and interior products comprising air vents, glove boxes, center consoles, cup holders, ash trays, louvers, oil slumps, cylinder heads, and battery trays. In addition, it offers DC-DC convertor, battery charger, motor controller, intelligent transport system, telematics, connected clusters, MFECU, and vehicle control unit; and rod, micro pole, shark fin, and LF antennas. The company offers its products for two and three wheelers, passenger vehicles, commercial vehicles, and off-road vehicles.
The company has a market capitalization of ₹12,488 Crore with revenue of ₹5,056 Crore and profit of ₹255 Crore. Promoter holding in Minda Corporation Ltd has gone up to 64.84% as of March 2025. The company's revenue from operations stood at ₹4,300 Crore in FY23, 45% higher than ₹2,976 Crore in FY22.
Minda Corporation has reported its financial results for the quarter ending March 2025, achieving its highest quarterly net sales in five quarters at ₹1,321.26 Crore and an operating profit peak of ₹152.88 Crore. The operating profit margin reached 11.57%, showcasing an improvement in operational efficiency.
However, profit before tax and profit after tax have declined, alongside rising interest costs. The profit before tax (PBT) was recorded at ₹61.57 Crore, which is notably lower than the average of the previous four quarters. Similarly, profit after tax (PAT) has also decreased to ₹52.03 Crore.
For the year ended 2024, on a consolidated basis, Minda Corporation Ltd reported a profit of ₹41.73 Crore on a total income of ₹1,324.59 Crore for the quarter ended 2025. For the year ended 2024, Minda Corporation Ltd had posted a profit of ₹225.20 Crore on a total income of ₹4,651.10 Crore.
The market capitalization of Minda Corporation Ltd (MINDACORP) is ₹12,315.52 Crore as of May 27, 2025. The 52-week high of Minda Corporation Ltd (MINDACORP) is ₹652 and the 52-week low is ₹400. The P/E (price-to-earnings) ratio of Minda Corporation Ltd (MINDACORP) is 54.21 and the P/B (price-to-book) ratio is 6.22.
The stock share price has surged over 324% in the last three years. Minda Corporation Ltd has given a return of 24% in the last 3 years. The current dividend yield is 0.28% and 0.27% respectively.
Minda Corporation jumped 4.47% after the company announced that it has entered into a partnership agreement with Flash Electronics to create the fastest growing EV platform in the country. Minda Corporation has fixed August 14, 2025, as record date for payment of final dividend of ₹0.90 per share for FY 2025.
Minda Corporation has appointed Ajay Agarwal as President - Finance & Strategy. With over 24 years of experience, he will lead financial functions and strategic growth initiatives, positioning the company for disciplined growth and operational excellence. Ajay Agarwal is a Chartered Accountant and Lawyer, bringing more than 24 years of executive experience across industries, with a proven track record in driving business and financial performance. Most recently, he served as President- Finance and Strategy at Vedanta Limited.
An annual revenue growth of 8% is good, Pre-tax margin of 7% is okay, ROE of 11% is good. The company has a reasonable debt to equity of 7%, which signals a healthy balance sheet. From an O'Neil Methodology perspective, the stock has an EPS Rank of 89 which is a GOOD score indicating consistency in earnings.
Minda Corporation Ltd (MINDACORP) belongs to the Consumer Discretionary sector & Auto Parts sub-sector. The company is one of the leading manufacturers of automotive components for original equipment manufacturers (OEMs).
The company's strategic positioning in the automotive components sector, combined with its strong market share in key segments and expanding product portfolio, makes it a significant player in India's automotive industry. However, investors should note the recent challenges in profitability and rising interest costs while considering the company's long-term growth prospects in the evolving automotive landscape.
