Minda Corp. Ltd. (IN:MINDACORP)
:MINDACORP
Top Page
Minda Corp. Ltd.
(MINDACORP)
Select Model
Select Model
Rating:69Neutral
Price Target:
₹538.00
▼(-10.82% Downside)
Action:DowngradedDate: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
Strong free cash flow generation
Exceptionally large free cash flow expansion indicates the business converts profits into liquidity reliably. This strengthens funding for capex, R&D, or debt reduction, supporting durable investment in product technology and manufacturing capacity over the next 2–6 months and beyond.
Negative Factors
High OEM and production cyclicality exposure
Heavy reliance on OEM series production ties revenue to vehicle production cycles and platform award timing. This structural dependence makes revenues sensitive to OEM order timing and industry cycles, limiting visibility and potentially producing uneven cash flows across quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Exceptionally large free cash flow expansion indicates the business converts profits into liquidity reliably. This strengthens funding for capex, R&D, or debt reduction, supporting durable investment in product technology and manufacturing capacity over the next 2–6 months and beyond.
Read all positive factors
Minda Corp. Ltd. (MINDACORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹126.50B
Dividend Yield0.23%
Average Volume (3M)91.14K
Price to Earnings (P/E)39.4
Beta (1Y)1.09
Revenue Growth12.99%
EPS Growth2.43%
CountryIN
Employees3,344
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)3.52
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)2.57
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)13.27
Revenue Forecast (FY)₹60.41B
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 Corp. primarily makes money by selling automotive components and systems to vehicle manufacturers (OEMs) and, to a lesser extent, to the replacement/aftermarket. Its revenue model is largely B2B and driven by (1) series production supply lin...
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 | 54.95B | 50.56B | 46.51B | 43.00B | 29.76B | 23.68B |
| Gross Profit | 17.40B | 18.51B | 16.78B | 14.77B | 10.64B | 8.47B |
| EBITDA | 5.82B | 5.28B | 4.79B | 4.36B | 2.73B | 2.00B |
| 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
Positive
603.30
Price Trends
548.79
Negative
568.80
Negative
548.38
Negative
Market Momentum
-12.77
Negative
56.70
Neutral
76.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MINDACORP, the sentiment is Positive. The current price of 603.3 is above the 20-day moving average (MA) of 515.87, above the 50-day MA of 548.79, and above the 200-day MA of 548.38, indicating a neutral trend. The MACD of -12.77 indicates Negative momentum. The RSI at 56.70 is Neutral, neither overbought nor oversold. The STOCH value of 76.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹54.45B | 16.13 | ― | 1.07% | 14.37% | 12.68% | |
73 Outperform | ₹133.63B | 28.99 | ― | 0.31% | 14.43% | 15.60% | |
69 Neutral | ₹126.50B | 39.41 | ― | 0.23% | 12.99% | 2.43% | |
69 Neutral | ₹74.44B | -220.37 | ― | 0.16% | 7.38% | -73.62% | |
64 Neutral | ₹140.41B | 24.70 | ― | 0.77% | 12.61% | -12.56% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | ₹56.80B | 126.88 | ― | 0.63% | 14.20% | 16.80% |
* Consumer Cyclical Sector Average
IN:MINDACORP
Minda Corp. Ltd.
529.10
-8.66
-1.61%
IN:CEATLTD
CEAT Limited
3,471.15
617.15
21.62%
IN:LGBBROSLTD
L.G. Balakrishnan & Bros Ltd.
1,707.45
541.25
46.41%
IN:SHRIPISTON
Shriram Pistons & Rings Ltd.
3,033.50
1,151.58
61.19%
IN:SUPRAJIT
Suprajit Engineering Limited
414.10
41.18
11.04%
IN:VARROC
Varroc Engineering Limited
487.20
57.73
13.44%
Minda Corp. Ltd. Corporate Events
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 ...
Minda Corp Subsidiary Faces ₹17.26 Crore GST Demand, Plans to Appeal
Jan 6, 2026
Minda Instruments Limited, a material subsidiary of Minda Corporation Limited, has received an order from the Office of the Deputy Commissioner of State Tax, Pune North East, confirming a GST demand for FY 2021–22 linked to classification of...
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.