Minda Corp shares rise as Q1 profit edges higher on strong demand, wider customer base

Minda Corp on Tuesday reported a 1.7% rise in first-quarter profit, helped by a strong product portfolio, an expanding customer base, and product premiumisation.Consolidated profit rose to ₹65.3 crore for the quarter ended June 30 from ₹64.2 crore a year earlier.

Revenue from operations climbed 16.2% to ₹1,386 crore, above consensus estimates, while earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 18.6% to ₹156.4 crore. EBITDA margin expanded to 11.3% from 11% a year ago.

The company, one of India’s leading automotive component makers, signed a joint venture agreement with Japan’s Toyodenso to set up a manufacturing plant in Noida, Uttar Pradesh, to make advanced automotive switches. The plant is expected to begin operations in the second half of FY27.It also partnered with Qualcomm Technologies to co-develop next-generation smart cockpit solutions powered by the Snapdragon® Cockpit Platform.

Minda Corp, incorporated in 1985, is the flagship of Spark Minda and has a diversified product portfolio spanning mechatronics, information and connected systems, and plastic and interior components. It caters to two- and three-wheelers, passenger vehicles, commercial vehicles, off-road vehicles, and the aftermarket, serving both Indian and global OEMs and Tier-1 customers.

Shares of Minda Corp ended 2.99% higher at ₹471.95 on BSE in the last hour of trading today. The stock is down 12.2% over the past six months.