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Minda Corp. Ltd.
(MINDACORP)
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Rating:65Neutral
Price Target:
₹774.00
▲(14.46% Upside)
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
Strong Revenue Scaling
Sustained revenue expansion indicates growing customer program participation and market reach across two-wheelers, passenger vehicles, commercial vehicles and off-highway applications, providing a durable base for operating leverage.
Negative Factors
Gross Margin Compression
Recent gross margin pressure indicates that input costs, product mix or pricing may be limiting the conversion of revenue growth into profit. If sustained, it could constrain operating leverage and reduce earnings resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Scaling
Sustained revenue expansion indicates growing customer program participation and market reach across two-wheelers, passenger vehicles, commercial vehicles and off-highway applications, providing a durable base for operating leverage.
Read all positive factors
Minda Corp. Ltd. (MINDACORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹167.80B
Dividend Yield0.2%
Average Volume (3M)91.14K
Price to Earnings (P/E)33.0
Beta (1Y)0.97
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. Volume39,162
30 Day Avg. Volume91,145
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)18.83
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. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹412.01B | 42.48 | ― | 0.38% | 29.35% | 12.93% | |
69 Neutral | ₹1.43T | 60.71 | ― | 1.24% | 13.63% | -11.32% | |
68 Neutral | ₹125.51B | 63.61 | ― | 0.16% | 14.66% | 47.32% | |
65 Neutral | ₹167.80B | 33.03 | ― | 0.22% | 26.59% | 96.82% | |
63 Neutral | ₹1.74T | 39.90 | ― | 0.41% | 14.02% | 32.06% | |
60 Neutral | ₹736.59B | 61.23 | ― | 0.24% | 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.
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207.78
41.09%
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Minda Corp. Ltd. Corporate Events
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...
Minda Corp Reports Noida Plant Fire, No Injuries and Insurance Cover
May 31, 2026
Minda Corporation Limited has reported a fire at its manufacturing facility in Sector 59, Noida, that occurred on May 30, 2026 in the late afternoon. The company emphasized that all personnel were safely accounted for, with no casualties or injuri...
Minda Corporation Files Q4 FY26 Earnings Call Transcript With Exchanges
May 27, 2026
Minda Corporation Limited has notified stock exchanges that it has made available the edited transcript of its Q4 FY26 earnings conference call with investors and analysts, held on May 22, 2026. The filing underscores the company’s adherence...
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.