Minda Corporation reported a strong performance in Q2 FY26, achieving its highest-ever quarterly revenue of ₹1,535 crore, a 19% year-over-year growth. The company’s EBITDA reached ₹178 crore with a margin of 11.6%. Growth was fueled by sustained demand, increased market share, and strong traction in EV and premium product categories. Minda has secured its first sunroof order and maintains a positive outlook, driven by government initiatives and strategic investments.
Financial Highlights
Minda Corporation showcased robust financial results for Q2 FY26:
- Revenue: Achieved a record ₹1,535 crore, marking a 19% year-over-year increase.
- EBITDA: Reached ₹178 crore, a 21.4% increase year-over-year, with an 11.6% margin.
- Profit After Tax: Stood at ₹85 crore, reflecting a 14% year-over-year growth.
For the first half of FY26, the company also saw substantial growth:
- Revenue increased by 18%.
- EBITDA grew by 20%.
- PAT increased by 8%.
Key Growth Drivers
The company’s strong performance was underpinned by several factors:
- Sustained demand across key vehicle segments.
- Increase in business market share.
- Growth in content per vehicle and strong EV traction.
- Premium product categories gaining momentum.
Strategic Developments
Minda Corporation is focused on several strategic initiatives:
- R&D Investments: Investing approximately 3% to 3.5% of revenue in R&D to advance technological capabilities.
- EV Market Expansion: Committed to expanding its presence in the EV market through strategic partnerships and product development.
- Localization: Scaling domestic manufacturing and localizing key components to strengthen the supply chain.
Order Wins & New Products
The company reported significant order wins and product launches:
- Sunroof Order: Secured its first sunroof order from a leading OEM, with SOP planned for Q1 FY27.
- EV Wiring Harness: Received a high-voltage EV wiring harness order from a leading OEM.
- TFT Cluster: Won an order for TFT clusters from a leading OEM.
- Switches: Toyodenso joint venture secured a significant order for switches, with operations planned to commence in Q4 FY27.
Flash Electronics Performance
Associate company, Flash Electronics, also delivered a strong performance in Q2 FY26:
- Revenue: ₹446 crore
- EBITDA: ₹72 crore with a margin of 16.1%.
Debt Position
- Net debt stands at ₹1,165 crore.
- Net debt-to-equity ratio is about 0.5.
- Rating: AA stable from India rating.
Source: BSE
