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Minda Corporation announced its strongest quarter and fiscal year yet, reporting a 138% jump in Q4 FY26 net profit to ₹124 crore. Revenue for the quarter increased by 29% to ₹1,704 crore. The company’s focus on smart mobility and electric vehicle (EV) systems is clearly paying off, supported by strong demand across vehicle types and investments in new technologies.
Record Annual Performance Fueled by Electrification
The full fiscal year 2026 concluded with Minda Corporation achieving a 22% revenue increase, reaching ₹6,185 crore, and a significant 40% rise in net profit to ₹358 crore. Chairman and Group CEO Ashok Minda credited this historic performance to robust demand in the two- and four-wheeler sectors, supportive policies, and ongoing R&D. Minda is transitioning from a traditional auto-component maker to a provider of smart mobility and EV solutions, planning to expand its portfolio in EV power electronics, connected vehicle systems, and advanced drivetrain technologies through FY27-FY30.
Information and Connectivity Division Shines
The Information and Connected Systems division, which includes components like wiring harnesses and instrument clusters, saw revenue grow by 29% year-on-year to ₹3,342 crore in FY26. This growth was driven by high demand from the two-wheeler and commercial vehicle sectors, along with a trend toward product premiumization. Industry trends like EV adoption, connected mobility, and passenger vehicle premiumization are expected to shape the automotive sector's future.
Global Partnerships Bolster Technology
Minda Corporation is strengthening its technological capabilities through strategic global alliances. In FY26, the company partnered with Japan's Toyodenso for advanced automotive switches and the UK's Turntide Technologies for EV powertrain solutions. These collaborations provide access to high-value electronics and electrification technologies. The Toyodenso partnership aims to enhance Minda's position in the domestic automotive switch market, while the Turntide alliance integrates Minda into the EV motor and controller sector, supporting the 'Make in India' initiative.
Financial Health and Future Investments
Minda Corporation plans to balance its ambitious investments in new technologies with financial discipline through FY27-FY30, a key task amid the automotive industry's shift to electrification. The company's financial health has improved, with the net debt-to-EBITDA ratio falling to 1.2x from 1.8x, and return on capital employed (ROCE) rising to 23%. These improvements provide a solid foundation for continued investment. Minda's P/E ratio, between 44.57 and 63.47, suggests investors see significant growth potential, with its market capitalization standing at approximately ₹13,739 crore.