Minda Corporation Ltd

Minda Corp Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Minda Corporation Ltd

₹ 579 1.02%
07 Nov - close price
minda.co.in BSE: 538962 NSE: MINDACORP
About

Minda Corporation Ltd is one of the leading automotive component manufacturing companies in India with a pan-India presence and international footprint.
It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group.[1]

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. [2] Both the companies are listed on the exchanges.

Key Points

Market Position
The company commands a market share of ~40% in 2W lock sets, and wiring harness for 2W, 3W, tractors, and CVs. [1]

Website BSE NSE
  • Market Cap ₹ 13,851 Cr.
  • Current Price ₹ 579
  • High / Low ₹ 644 / 445
  • Stock P/E 51.9
  • Book Value ₹ 102
  • Dividend Yield 0.24 %
  • ROCE 12.7 %
  • ROE 12.1 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Stock is trading at 5.68 times its book value
  • Dividend payout has been low at 12.6% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Consumer Discretionary

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
1,147 1,068 1,075 1,075 1,196 1,166 1,215 1,192 1,290 1,253 1,321 1,386 1,535
1,023 954 958 960 1,065 1,036 1,076 1,061 1,143 1,109 1,168 1,230 1,357
Operating Profit 124 114 117 115 131 130 139 132 147 144 153 156 178
OPM % 11% 11% 11% 11% 11% 11% 11% 11% 11% 11% 12% 11% 12%
4 5 2 2 2 2 10 8 12 9 3 3 3
Interest 10 11 12 14 15 14 12 10 11 12 34 33 31
Depreciation 34 34 39 39 41 42 44 46 51 50 57 56 57
Profit before tax 85 74 69 63 77 76 92 84 96 90 65 71 93
Tax % 25% 26% -80% 27% 24% 33% 25% 26% 26% 29% 36% 26% 27%
58 52 122 45 59 52 71 64 74 65 52 65 85
EPS in Rs 2.42 2.19 5.10 1.89 2.46 2.20 2.96 2.69 3.11 2.71 2.18 2.73 3.54
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
1,590 1,965 2,435 2,060 2,594 3,092 2,813 2,368 2,976 4,300 4,651 5,056 5,495
1,463 1,778 2,206 1,868 2,316 2,797 2,558 2,148 2,680 3,837 4,134 4,480 4,864
Operating Profit 127 188 229 192 278 295 256 220 296 463 517 576 631
OPM % 8% 10% 9% 9% 11% 10% 9% 9% 10% 11% 11% 11% 11%
44 23 29 27 27 80 -238 -8 56 16 15 32 19
Interest 28 39 37 30 40 51 54 39 32 42 57 69 110
Depreciation 48 60 74 58 74 88 118 94 112 138 166 204 220
Profit before tax 96 111 147 131 191 236 -154 80 208 298 308 336 319
Tax % 18% 24% 25% 22% 25% 28% 29% 39% 12% 1% 27% 29%
79 88 110 102 143 169 -200 53 192 284 227 255 267
EPS in Rs 3.79 4.28 5.12 4.88 6.82 7.45 -8.79 2.21 8.03 11.90 9.50 10.68 11.16
Dividend Payout % 5% 9% 10% 10% 9% 9% -4% 29% 12% 10% 15% 13%
Compounded Sales Growth
10 Years: 10%
5 Years: 12%
3 Years: 19%
TTM: 13%
Compounded Profit Growth
10 Years: 11%
5 Years: 128%
3 Years: 15%
TTM: 2%
Stock Price CAGR
10 Years: 22%
5 Years: 53%
3 Years: 41%
1 Year: 11%
Return on Equity
10 Years: 13%
5 Years: 13%
3 Years: 14%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 20 41 42 42 42 45 45 48 48 48 48 48 48
Reserves 350 406 507 580 694 1,145 925 1,094 1,278 1,538 1,928 2,150 2,392
572 521 562 549 728 685 625 532 511 718 540 1,614 1,536
370 453 660 377 587 566 732 654 731 905 911 1,062 1,206
Total Liabilities 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 3,209 3,427 4,874 5,181
527 571 719 530 711 732 570 613 887 1,026 1,207 1,507 1,544
CWIP 15 15 13 74 16 21 28 18 32 85 63 85 90
Investments 25 29 5 126 139 165 176 180 64 451 348 1,476 1,508
746 807 1,034 818 1,184 1,524 1,552 1,517 1,583 1,647 1,809 1,806 2,039
Total Assets 1,312 1,422 1,771 1,548 2,051 2,442 2,327 2,328 2,567 3,209 3,427 4,874 5,181

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-18 304 226 48 70 209 450 86 167 387 287 544
-136 -53 -158 -158 -200 -402 -137 -192 12 -425 116 -1,409
133 -238 -29 67 122 203 -249 65 -161 74 -358 788
Net Cash Flow -20 13 39 -43 -8 11 64 -42 18 37 44 -76

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 67 59 65 66 80 64 51 68 70 54 63 60
Inventory Days 70 70 78 91 105 86 85 97 93 75 66 67
Days Payable 93 94 104 79 103 79 109 124 110 95 89 96
Cash Conversion Cycle 44 36 40 79 82 71 26 41 53 34 40 31
Working Capital Days -3 4 -7 6 14 3 -15 -6 25 13 31 -28
ROCE % 12% 16% 16% 12% 18% 16% 11% 10% 12% 16% 15% 13%

Shareholding Pattern

Numbers in percentages

8 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
64.72% 64.72% 64.72% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84%
3.61% 5.06% 5.74% 5.53% 3.73% 5.07% 6.07% 7.62% 7.98% 8.33% 8.83% 8.72%
13.84% 11.83% 11.88% 13.20% 16.81% 20.60% 20.63% 18.87% 18.42% 18.48% 18.17% 18.52%
16.14% 16.68% 15.99% 14.78% 12.99% 7.90% 6.86% 7.07% 7.16% 6.77% 6.58% 6.35%
1.68% 1.68% 1.65% 1.65% 1.62% 1.59% 1.59% 1.59% 1.59% 1.57% 1.57% 1.56%
No. of Shareholders 98,93490,24292,32096,38798,2381,00,68989,45993,90696,70192,13893,52696,349

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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