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Minda Corp. Ltd.
(MINDACORP)
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Rating:65Neutral
Price Target:
₹639.00
▼(-5.50% Downside)
Action:Downgraded
Date:08/25/26
The score is led by solid financial performance (strong growth and improving operating profitability, but margin compression and moderate FCF conversion are key risks). Technicals are mildly supportive with a positive long-term trend and balanced momentum, while valuation is the main drag due to a high P/E and minimal dividend yield.
Positive Factors
Revenue Scaling
The substantial multi-year revenue increase indicates expanding business scale and stronger demand across Minda Corporation’s automotive component activities. Continued top-line growth can support operating leverage, broader customer-program participation, and greater capacity to reinvest in future vehicle platforms.
Negative Factors
Gross Margin Compression
Meaningful gross-margin compression indicates that input costs, product mix, pricing, or other operating pressures are absorbing part of the benefit from revenue growth. If the decline persists, it could limit operating leverage and make earnings more sensitive to further cost pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scaling
The substantial multi-year revenue increase indicates expanding business scale and stronger demand across Minda Corporation’s automotive component activities. Continued top-line growth can support operating leverage, broader customer-program participation, and greater capacity to reinvest in future vehicle platforms.
Read all positive factors
Minda Corp. Ltd. (MINDACORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹142.18B
Dividend Yield0.24%
Average Volume (3M)12.43K
Price to Earnings (P/E)27.9
Beta (1Y)1.03
Revenue Growth26.59%
EPS Growth96.82%
CountryIN
Employees3,405
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)21.28
Shares Outstanding239,079,420
10 Day Avg. Volume9,701
30 Day Avg. Volume12,429
Financial Highlights & Ratios
PEG Ratio0.76
Price to Book (P/B)4.50
Price to Sales (P/S)1.92
P/FCF Ratio64.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)18.94
Revenue Forecast (FY)₹75.64B
Minda Corp. Ltd. Business Overview & Revenue Model
Company Description
Minda Corporation Limited specializes in the production and sale of a wide array of automotive components and parts. Its extensive product catalog includes advanced electronic and mechanical security solutions, such as ignition switch-steering loc...
How the Company Makes Money
Minda Corporation primarily makes money by manufacturing and selling automotive components and systems to vehicle manufacturers (OEMs) and, to a lesser extent, to the replacement/aftermarket via parts distribution. Its core revenue model is busine...
Minda Corp. Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 66.46B | 61.85B | 49.65B | 45.80B | 42.28B | 29.27B |
| Gross Profit | 15.00B | 11.23B | 16.88B | 15.32B | 13.49B | 9.65B |
| EBITDA | 7.79B | 7.21B | 6.04B | 5.28B | 4.74B | 3.49B |
| Net Income | 5.01B | 3.60B | 2.55B | 2.27B | 2.85B | 1.92B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 54.95B | 48.83B | 34.39B | 32.24B | 25.72B |
| Cash, Cash Equivalents and Short-Term Investments | 1.38B | 1.38B | 1.97B | 4.58B | 1.37B | 3.03B |
| Total Debt | 0.00 | 14.71B | 16.09B | 5.35B | 7.13B | 5.06B |
| Total Liabilities | -26.59B | 28.37B | 26.81B | 14.58B | 16.34B | 12.42B |
| Stockholders Equity | 26.59B | 26.44B | 22.02B | 19.81B | 15.91B | 13.30B |
Cash Flow | ||||||
| Free Cash Flow | 883.50M | 1.85B | 1.94B | 348.00M | 1.37B | 583.00M |
| Operating Cash Flow | 3.08B | 5.79B | 5.44B | 2.87B | 3.87B | 1.67B |
| Investing Cash Flow | -2.30B | -3.72B | -14.09B | 1.16B | -4.28B | -90.00M |
| Financing Cash Flow | -663.40M | -1.82B | 7.89B | -3.58B | 743.00M | -1.35B |
Minda Corp. Ltd. Technical Analysis
Negative
676.20
Price Trends
680.79
Negative
680.64
Negative
613.08
Negative
Market Momentum
-20.97
Positive
30.70
Neutral
20.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MINDACORP, the sentiment is Negative. The current price of 676.2 is above the 20-day moving average (MA) of 644.88, below the 50-day MA of 680.79, and above the 200-day MA of 613.08, indicating a bearish trend. The MACD of -20.97 indicates Positive momentum. The RSI at 30.70 is Neutral, neither overbought nor oversold. The STOCH value of 20.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MINDACORP.
Minda Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹313.06B | 32.39 | ― | 0.52% | 29.35% | 12.93% | |
69 Neutral | ₹1.32T | 56.04 | ― | 0.60% | 13.63% | -11.32% | |
68 Neutral | ₹119.04B | 60.26 | ― | 0.19% | 14.66% | 47.32% | |
65 Neutral | ₹142.18B | 27.93 | ― | 0.24% | 26.59% | 96.82% | |
63 Neutral | ₹1.62T | 37.05 | ― | 0.39% | 14.02% | 32.06% | |
60 Neutral | ₹615.64B | 51.31 | ― | 0.25% | 18.80% | 15.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:MINDACORP
Minda Corp. Ltd.
594.70
33.65
6.00%
IN:BOSCHLTD
Bosch Limited
44,834.95
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IN:ENDURANCE
Endurance Technologies Ltd.
2,225.60
-682.52
-23.47%
IN:MOTHERSON
Samvardhana Motherson International Limited
153.80
47.42
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IN:UNOMINDA
UNO Minda Limited
1,066.10
-131.02
-10.94%
IN:VARROC
Varroc Engineering Limited
779.10
173.74
28.70%
Minda Corp. Ltd. Corporate Events
Minda Corporation Injects Rs. 18 Crore into Switch-Making Subsidiary via Rights Issue
Oct 5, 2026
Minda Corporation Limited has increased its investment in subsidiary Spark Minda-Toyodenso India Private Limited by acquiring an additional 1.8 crore equity shares at par value, for a total cash consideration of Rs. 18 crore, via a rights issue co...
Minda Corp Receives Unsolicited ESG Rating of 66
Sep 15, 2026
Minda Corporation Limited has disclosed that Niche Ninety Nine Capability and Certifications has assigned the company an ESG rating of 66, based on information available in the public domain. The company emphasized that it did not commission this ...
Minda Corporation Files Voting Results and Scrutinizer’s Report for 41st AGM
Aug 21, 2026
Minda Corporation Limited has informed the stock exchanges that it held its 41st Annual General Meeting on August 21, 2026, conducted via video conferencing and other audio-visual means. The meeting notice was circulated electronically to sharehol...
Minda Corporation Files Q1 FY27 Earnings Call Transcript With Exchanges
Aug 19, 2026
Minda Corporation Limited has notified the stock exchanges that it has released the transcript of its Q1 FY27 earnings conference call held with investors and analysts on August 13, 2026. The disclosure is made under Regulation 30 of SEBI’s ...
Minda Corp Publishes Q1 FY27 Audited Results in Leading Dailies
Aug 14, 2026
Minda Corporation Limited has notified stock exchanges that it has published its audited standalone and consolidated financial results for the quarter ended June 30, 2026 in leading newspapers. The disclosure, made in line with SEBI’s Listin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.