Minda Corp. Ltd. (IN:MINDACORP)
:MINDACORP
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Minda Corp. Ltd.
(MINDACORP)
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Rating:69Neutral
Price Target:
₹565.00
▼(-6.35% Downside)
Action:Downgraded
Date:09/25/25
Minda Corp. Ltd. has a strong financial foundation with robust growth and efficient operations, which is the primary driver of its score. However, technical indicators suggest the stock may be overbought, and the high P/E ratio indicates overvaluation, which tempers the overall score.
Positive Factors
Cash Generation
Exceptional FCF growth and an operating cash flow to net income ratio above 2 indicate high earnings quality and strong liquidity. This durable cash-generation ability supports capex for new program localization, debt servicing, and selective reinvestment without relying on external funding.
Negative Factors
OEM Cyclicality
Revenue and utilization are tightly linked to OEM production cycles and model ramps. This structural exposure makes sales and margins lumpy over medium horizons, increasing sensitivity to industry downturns and limiting predictability of cash flows and capacity utilization.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Exceptional FCF growth and an operating cash flow to net income ratio above 2 indicate high earnings quality and strong liquidity. This durable cash-generation ability supports capex for new program localization, debt servicing, and selective reinvestment without relying on external funding.
Read all positive factors
Minda Corp. Ltd. (MINDACORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹123.72B
Dividend Yield0.23%
Average Volume (3M)91.14K
Price to Earnings (P/E)39.4
Beta (1Y)1.03
Revenue Growth17.23%
EPS Growth5.49%
CountryIN
Employees3,344
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)11.31
Shares Outstanding239,079,420
10 Day Avg. Volume39,162
30 Day Avg. Volume91,145
Financial Highlights & Ratios
PEG Ratio4.14
Price to Book (P/B)5.91
Price to Sales (P/S)2.62
P/FCF Ratio66.98
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)17.38
Revenue Forecast (FY)₹69.39B
Minda Corp. Ltd. Business Overview & Revenue Model
Company Description
Minda Corporation Limited manufactures and sells automobile components and parts. It offers electronic and mechanical security systems, including ignition switch cum steering locks, smart key systems, mechatronic handles, and immobilizers systems;...
How the Company Makes Money
Minda Corporation primarily makes money by manufacturing and selling automotive components and systems to vehicle OEMs (B2B), earning revenue on a per-part/per-assembly basis under supply arrangements aligned to OEM vehicle production volumes. Key...
Minda Corp. Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 54.03B | 49.65B | 45.80B | 42.28B | 29.27B | 23.00B |
| Gross Profit | 15.77B | 16.88B | 15.32B | 13.49B | 9.65B | 7.35B |
| EBITDA | 6.46B | 6.04B | 5.28B | 4.74B | 3.49B | 2.47B |
| Net Income | 2.67B | 2.55B | 2.27B | 2.85B | 1.92B | 528.00M |
Balance Sheet | ||||||
| Total Assets | 51.81B | 48.83B | 34.39B | 32.24B | 25.72B | 23.30B |
| Cash, Cash Equivalents and Short-Term Investments | 1.18B | 1.97B | 4.58B | 1.37B | 3.03B | 4.85B |
| Total Debt | 15.36B | 16.09B | 5.35B | 7.13B | 5.06B | 5.28B |
| Total Liabilities | 27.42B | 26.81B | 14.58B | 16.34B | 12.42B | 11.83B |
| Stockholders Equity | 24.40B | 22.02B | 19.81B | 15.91B | 13.30B | 11.47B |
Cash Flow | ||||||
| Free Cash Flow | 883.50M | 1.94B | 348.00M | 1.37B | 583.00M | -495.00M |
| Operating Cash Flow | 3.08B | 5.44B | 2.87B | 3.87B | 1.67B | 855.00M |
| Investing Cash Flow | -2.30B | -14.09B | 1.16B | -4.28B | -90.00M | -1.75B |
| Financing Cash Flow | -663.40M | 7.89B | -3.58B | 743.00M | -1.35B | 652.00M |
Minda Corp. Ltd. Technical Analysis
Neutral
603.30
Price Trends
515.95
Positive
545.60
Negative
547.71
Negative
Market Momentum
-1.59
Positive
49.16
Neutral
45.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MINDACORP, the sentiment is Neutral. The current price of 603.3 is above the 20-day moving average (MA) of 524.84, above the 50-day MA of 515.95, and above the 200-day MA of 547.71, indicating a neutral trend. The MACD of -1.59 indicates Positive momentum. The RSI at 49.16 is Neutral, neither overbought nor oversold. The STOCH value of 45.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MINDACORP.
Minda Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹123.72B | 39.41 | ― | 0.23% | 17.23% | 5.49% | |
69 Neutral | ₹84.86B | -220.37 | ― | 0.16% | 7.37% | 80.79% | |
66 Neutral | ₹1.09T | 49.90 | ― | 1.42% | 11.31% | 36.09% | |
66 Neutral | ₹1.40T | 30.91 | ― | 0.47% | 8.71% | -37.30% | |
64 Neutral | ₹358.81B | 32.72 | ― | 0.38% | 26.25% | 13.79% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | ₹610.02B | 49.64 | ― | 0.17% | 17.19% | 26.50% |
* Consumer Cyclical Sector Average
IN:MINDACORP
Minda Corp. Ltd.
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Minda Corp. Ltd. Corporate Events
Minda Corp Faces ₹670.9 Crore Tax Demand, Plans to Contest Assessment Order
Mar 29, 2026
Minda Corporation Limited has disclosed that it received an income tax assessment order for FY 2022–23 (Assessment Year 2023–24) from the Assistant Commissioner of Income Tax, Central Circle-13, Delhi, under Section 143(3) of the Incom...
Minda Corp Subsidiary Forms EV Components JV With UK’s Turntide Drives
Mar 9, 2026
Minda Corporation’s subsidiary Spark Minda Green Mobility Systems has entered into a joint venture agreement with U.K.-based Turntide Drives to develop and manufacture next-generation motor controllers, axial flux motors, thermal pumps, and ...
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.