Minda Corp. Ltd. (IN:MINDACORP)
:MINDACORP
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Minda Corp. Ltd.
(MINDACORP)
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Rating:70Outperform
Price Target:
₹708.00
▲(17.35% Upside)
Action:Upgraded
Date:05/25/26
The score is primarily driven by solid financial performance (strong revenue growth and improving operating profitability, tempered by gross-margin compression and only moderate free-cash-flow conversion) and supportive technical momentum (price above key moving averages with positive MACD). Valuation is the main offset due to a relatively high P/E and minimal dividend yield.
Positive Factors
Multi‑year revenue scaling
Sustained revenue expansion over multiple years indicates durable demand and successful OEM program wins. Higher scale improves fixed‑cost absorption, supports capacity investment and localization, and increases bargaining power with suppliers — underpinning predictable series production revenues.
Negative Factors
Gross‑margin compression
Material gross‑margin deterioration weakens the margin buffer against commodity swings and OEM pricing pressure. If persistent, it erodes operating profit sustainability, reduces free‑cash flow and forces either higher prices (hard with OEM contracts) or structural cost cuts that can impair growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi‑year revenue scaling
Sustained revenue expansion over multiple years indicates durable demand and successful OEM program wins. Higher scale improves fixed‑cost absorption, supports capacity investment and localization, and increases bargaining power with suppliers — underpinning predictable series production revenues.
Read all positive factors
Minda Corp. Ltd. (MINDACORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹155.66B
Dividend Yield0.23%
Average Volume (3M)91.14K
Price to Earnings (P/E)42.6
Beta (1Y)1.01
Revenue Growth22.33%
EPS Growth42.69%
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 Ratio0.80
Price to Book (P/B)4.50
Price to Sales (P/S)1.92
P/FCF Ratio64.34
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)18.18
Revenue Forecast (FY)₹74.85B
Minda Corp. Ltd. Business Overview & Revenue Model
Company Description
Minda Corporation Limited specializes in the production and sale of a wide array of automotive components and parts. Its extensive product catalog includes advanced electronic and mechanical security solutions, such as ignition switch-steering loc...
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
78
Positive
Balance Sheet
70
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 54.03B | 61.85B | 49.65B | 45.80B | 42.28B | 29.27B |
| Gross Profit | 15.77B | 11.23B | 16.88B | 15.32B | 13.49B | 9.65B |
| EBITDA | 6.46B | 7.21B | 6.04B | 5.28B | 4.74B | 3.49B |
| Net Income | 2.67B | 3.60B | 2.55B | 2.27B | 2.85B | 1.92B |
Balance Sheet | ||||||
| Total Assets | 51.81B | 54.95B | 48.83B | 34.39B | 32.24B | 25.72B |
| Cash, Cash Equivalents and Short-Term Investments | 1.18B | 2.28B | 1.97B | 4.58B | 1.37B | 3.03B |
| Total Debt | 15.36B | 14.71B | 16.09B | 5.35B | 7.13B | 5.06B |
| Total Liabilities | 27.42B | 28.37B | 26.81B | 14.58B | 16.34B | 12.42B |
| Stockholders Equity | 24.40B | 26.44B | 22.02B | 19.81B | 15.91B | 13.30B |
Cash Flow | ||||||
| Free Cash Flow | 883.50M | 1.85B | 1.94B | 348.00M | 1.37B | 583.00M |
| Operating Cash Flow | 3.08B | 5.79B | 5.44B | 2.87B | 3.87B | 1.67B |
| Investing Cash Flow | -2.30B | -3.72B | -14.09B | 1.16B | -4.28B | -90.00M |
| Financing Cash Flow | -663.40M | -1.82B | 7.89B | -3.58B | 743.00M | -1.35B |
Minda Corp. Ltd. Technical Analysis
Positive
603.30
Price Trends
563.85
Positive
553.66
Positive
561.10
Positive
Market Momentum
27.40
Positive
65.57
Neutral
45.41
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 below the 20-day moving average (MA) of 625.55, above the 50-day MA of 563.85, and above the 200-day MA of 561.10, indicating a bullish trend. The MACD of 27.40 indicates Positive momentum. The RSI at 65.57 is Neutral, neither overbought nor oversold. The STOCH value of 45.41 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹155.66B | 42.56 | ― | 0.23% | 22.33% | 42.69% | |
70 Outperform | ₹1.18T | 42.58 | ― | 1.42% | 10.77% | 37.61% | |
66 Neutral | ₹1.53T | 39.52 | ― | 0.47% | 10.95% | -11.38% | |
64 Neutral | ₹368.75B | 38.78 | ― | 0.38% | 26.25% | 13.79% | |
63 Neutral | ₹93.67B | 41.61 | ― | 0.16% | 9.03% | 267.59% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | ₹633.89B | 52.89 | ― | 0.17% | 17.19% | 26.50% |
* Consumer Cyclical Sector Average
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Minda Corp. Ltd. Corporate Events
Minda Corp Reports Noida Plant Fire, No Injuries and Insurance Cover
May 31, 2026
Minda Corporation Limited has reported a fire at its manufacturing facility in Sector 59, Noida, that occurred on May 30, 2026 in the late afternoon. The company emphasized that all personnel were safely accounted for, with no casualties or injuri...
Minda Corporation Files Q4 FY26 Earnings Call Transcript With Exchanges
May 27, 2026
Minda Corporation Limited has notified stock exchanges that it has made available the edited transcript of its Q4 FY26 earnings conference call with investors and analysts, held on May 22, 2026. The filing underscores the company’s adherence...
Minda Corporation Posts FY26 Earnings Call Audio on Website
May 22, 2026
Minda Corporation Limited has announced that the audio recording of its earnings call discussing the financial results for the quarter and financial year ended March 31, 2026, has been made available on its corporate website. The disclosure, made ...
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...
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.