Minda Corporation logo

Minda Corporation share price

NSE: MINDACORPBSE: 538962Auto ComponentsSmall Cap

Minda Corporation Limited · Face value ₹2 · Listed Mar 2012 on NSE, Feb 2015 on BSE
Last close ₹640.75up ₹11.00 (1.75%)BSE ₹642.75

Share price at the NSE close on 29 Oct 2026. Previous close ₹629.75.

29 Oct: open ₹630.00, high ₹647.95, low ₹623.50

52-week range of traded prices to 29 Oct 2026
₹468.50Low, 12 Mar 2026₹769.00High, 14 Aug 2026
Market cap
₹15,319 Cr468th largest listed
P/E
30.58
P/E without one-offs
40.48
P/B
5.80
Dividend yield
0.22%
ROE
20.7%
ROE without one-offs
15.6%
ROCE
13.8%
Debt to equity
0.46
Volume, NSE
4,74,99562.6% delivered

Minda Corporation share price chart

Daily closes since Mar 2012, adjusted for splits and bonuses

+11.4%over a year · Nifty Smallcap 250 −1.9% · Nifty 500 −8.4%

ResultsDividend20-session average 2,52,396 shares a day, 54.6% delivered

About Minda Corporation

Minda Corporation Limited, part of the Spark Minda Group, makes automotive parts and systems: locksets, wiring harnesses, instrument clusters, die-castings (metal parts cast in moulds), starter motors, alternators and battery chargers.123 It supplies vehicle makers and their suppliers across two-wheelers, three-wheelers, passenger vehicles, commercial and off-road vehicles in India, Southeast Asia (ASEAN), Japan and Europe, and sells replacement parts through dealers across India.12

It reports its business in 6 verticals: vehicle access systems, electrical distribution systems, driver information systems, lightweighting and plastics (lighter parts that cut vehicle weight), electric vehicle systems and electronics, and powertrain (the parts that turn engine or motor power into motion).1 Incorporated in 1985 and headquartered in Noida, it counts 42 manufacturing plants, including those of Flash Electronics, most in Indian automotive clusters such as Pune, Pantnagar, Gurugram, Noida, Bawal and Chennai, with operations in Indonesia and Vietnam and a design centre in Japan.134 It employs over 23,000 people, including more than 1,000 engineers, and by its earnings call of 13 Aug 2026 had filed 335 patents, 150 of them granted.56

Its joint ventures (businesses owned with a partner) and technology partners include Toyodenso of Japan for advanced switches, formed in June 2025, HCMF for sunroofs and power lift gates, and VAST for vehicle access systems.789 At Jun 2026, promoters held 64.8% of the shares; Ashok Minda is chairman and group CEO, and Minda Capital Private Limited is one of the promoters.10119

Minda Corporation key points

Results

  • In the quarter to Jun 2026, consolidated revenue, now including Minda Vast, was a record ₹1,846 crore, up 33.2%; EBITDA (earnings before interest, tax, depreciation and amortisation) was a record ₹212 crore at an 11.5% margin, the first quarter above ₹200 crore.121314
  • In the quarter to Jun 2026, consolidated profit after tax was ₹206 crore against ₹65 crore a year earlier, including a one-off gain of ₹106 crore from consolidating Minda Vast.1513
  • In the year to Mar 2026, consolidated revenue was a record ₹61,853 million, up 22.3%, with EBITDA of ₹7,211 million at an 11.7% margin; profit after tax rose 40.3% to a record ₹3,583 million.1617

Revenue mix

  • Share of revenue by product18
    Itemquarter to Jun 2026
    Wiring harnesses32%
    Vehicle access25%
    Instrument clusters16%
    Die-castings15%
    Others12%
  • Share of revenue by vehicle type1920
    Itemquarter to Jun 2026
    Two- and three-wheelers46%
    Commercial vehicles, including off-highway and tractors27%
    Passenger vehicles19%
    Replacement parts (aftermarket)8%
  • Electric vehicle products were close to 10% of revenue in the quarter to Jun 2026; the company said this had grown by 40% on a year earlier.21
  • India accounted for 89% of revenue in the quarter to Jun 2026, as a year earlier.22

Flash Electronics stake

  • Minda Corporation holds 49% of Flash Electronics, bought in January 2025, a maker of magnetos, alternators, on-board chargers and EV power electronics whose profit share, not revenue, enters Minda's consolidated results.2324
  • Flash's revenue was ₹1,803 crore in the year to Mar 2026, with EBITDA of ₹310 crore and profit after tax of ₹137 crore; in the quarter to Jun 2026 it rose 42% to ₹533 crore.2526
  • On its earnings call of 13 Aug 2026, the company said it targets Flash revenue growth of 20% to 24%, and expects a Flash margin of 16% to 17% on a longer-term basis.2728

Plants and capacity

  • Group capacity utilisation was about 77% to 80%, varying by plant and product line, the company said on its earnings call of 13 Aug 2026.29
  • As of its annual report of 29 Jul 2026, a fifth die-casting plant in Pune and an instrument cluster plant were being commissioned and a wiring harness plant was being built on the Yamuna Expressway.3031
  • The company stated in its annual report for the year to Mar 2026 that it plans about ₹20,000 million of organic capital spending over the 5 years to Mar 2030; it spent over ₹4,130 million in the year to Mar 2026.32

Order book

  • New lifetime orders (the value of supplies expected over the life of the vehicle models) were about ₹2,500 crore in the quarter to Jun 2026, over 15% of them for electric vehicles.33
  • In the year to Mar 2026, new lifetime orders came to about ₹1,00,000 million, about 20% of them export orders.34
  • As of its annual report of 29 Jul 2026, the Toyodenso switch venture held lifetime orders above ₹10,000 million and was developing a Noida plant; the HCMF sunroof venture held a ₹3,500 million lifetime order from an Indian carmaker and was commissioning a Pune plant.35

What the company expects

  • The company stated in its annual report for the year to Mar 2026 that it targets, for the year to Mar 2030, consolidated revenue above ₹1,75,000 million, an EBITDA margin above 12.5% and exports of ₹15,000 million.36
  • On its earnings call of 13 Aug 2026, the company said it aims for an EBITDA margin of 11.5% to 12% for the rest of the year to Mar 2027.37

Recent events

  • On 12 Oct 2026, the company agreed to buy 26% of Sunsure Solarpark Sixteen, a solar power company, for up to ₹57.75 lakh to reduce its power costs.3839
  • On 30 May 2026, a fire broke out at the company's Noida plant, injuring no one; its filing of 31 May 2026 said the damage was being assessed.4041
  • On 24 Apr 2026, CRISIL upgraded the rating (an opinion on the ability to repay debt) of the company's long-term bank facilities to AA/Stable from AA-/Positive.42
  • On 9 Mar 2026, its subsidiary Spark Minda Green Mobility Systems agreed a 49:51 joint venture with Turntide Drives of the UK for motor controllers, axial flux motors and thermal pumps.438

Litigation and regulatory matters

  • An income tax order dated 28 Mar 2026 for the year to Mar 2023 demanded ₹67,09,06,417, including ₹17,75,92,875 of interest; in its filing of 29 Mar 2026, the company said it intended to contest it.4445
  • A GST order of Mar 2026 confirmed a ₹4,75,88,732 demand on subsidiary Minda Instruments for the years to Mar 2020 and Mar 2021, plus an equivalent amount of penalty and interest as applicable; on 31 Mar 2026, the company said the subsidiary intended to appeal.46

Last updated

All 46 sources, each with its page
  1. 1. Annual report, 29 Jul 2026, page 81
  2. 2. Annual report, 29 Jul 2026, page 170
  3. 3. Annual report, 29 Jul 2026, page 82
  4. 4. Annual report, 29 Jul 2026, page 45
  5. 5. Earnings call, 13 Aug 2026, page 6
  6. 6. Annual report, 29 Jul 2026, page 17
  7. 7. Annual report, 29 Jul 2026, page 18
  8. 8. Annual report, 29 Jul 2026, page 44
  9. 9. Annual report, 29 Jul 2026, page 106
  10. 10. Investor presentation, 13 Aug 2026, page 18
  11. 11. Annual report, 29 Jul 2026, page 4
  12. 12. Earnings call, 13 Aug 2026, page 6
  13. 13. Investor presentation, 13 Aug 2026, page 11
  14. 14. Earnings call, 13 Aug 2026, page 5
  15. 15. Earnings call, 13 Aug 2026, page 7
  16. 16. Annual report, 29 Jul 2026, page 15
  17. 17. Annual report, 29 Jul 2026, page 91
  18. 18. Earnings call, 13 Aug 2026, page 8
  19. 19. Earnings call, 13 Aug 2026, page 8
  20. 20. Investor presentation, 13 Aug 2026, page 8
  21. 21. Earnings call, 13 Aug 2026, page 5
  22. 22. Investor presentation, 13 Aug 2026, page 8
  23. 23. Annual report, 29 Jul 2026, page 87
  24. 24. Annual report, 29 Jul 2026, page 88
  25. 25. Investor presentation, 13 Aug 2026, page 9
  26. 26. Earnings call, 13 Aug 2026, page 8
  27. 27. Earnings call, 13 Aug 2026, page 10
  28. 28. Earnings call, 13 Aug 2026, page 11
  29. 29. Earnings call, 13 Aug 2026, page 12
  30. 30. Annual report, 29 Jul 2026, page 45
  31. 31. Annual report, 29 Jul 2026, page 99
  32. 32. Annual report, 29 Jul 2026, page 84
  33. 33. Investor presentation, 13 Aug 2026, page 5
  34. 34. Annual report, 29 Jul 2026, page 90
  35. 35. Annual report, 29 Jul 2026, page 44
  36. 36. Annual report, 29 Jul 2026, page 99
  37. 37. Earnings call, 13 Aug 2026, page 12
  38. 38. Exchange filing, 12 Oct 2026, page 1
  39. 39. Exchange filing, 12 Oct 2026, page 2
  40. 40. Exchange filing, 31 May 2026, page 1
  41. 41. Exchange filing, 31 May 2026, page 2
  42. 42. Exchange filing, 24 Apr 2026, page 1
  43. 43. Annual report, 29 Jul 2026, page 106
  44. 44. Exchange filing, 29 Mar 2026, page 1
  45. 45. Exchange filing, 29 Mar 2026, page 2
  46. 46. Exchange filing, 31 Mar 2026, page 1

Results

Consolidated; ₹ crore.Minda Corporation quarterly results

Revenue growth, 12 months
+26.6%
Net profit growth, 12 months
+95.3%

Quarter to Jun 2026, against the quarter before

Revenue
₹1,846 Crup 8.36%
Net profit
₹206 Crup 66.33%
Net margin
11.2%

Revenue by quarter

₹1,290 CrSep 24₹1,253 CrDec 24₹1,321 CrMar 25₹1,386 CrJun 25₹1,535 CrSep 25₹1,560 CrDec 25₹1,704 CrMar 26₹1,846 CrJun 26
Peak revenue ₹1,846 Cr, quarter to Jun 2026; lowest ₹1,253 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹74 CrSep 24₹65 CrDec 24₹52 CrMar 25₹65 CrJun 25₹85 CrSep 25₹84 CrDec 25₹124 CrMar 26₹206 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue1,2901,2531,3211,3861,5351,5601,7041,846
Net profit746552658584124206
Net margin5.8%5.2%3.9%4.7%5.5%5.4%7.3%11.2%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Automotive, which carries all its revenue.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2021: days before it are of the company before the change.Minda Corporation PE ratio and valuation

Price to earnings

At or below today's level on 69% of 1,989 trading days since Dec 2016.

LowestHighest
Its median29.36Industry median23.13
Price to book

At or below today's level on 83% of 1,899 trading days since Nov 2018.

LowestHighest
Its median4.05Industry median2.62
Dividend yield

At or below today's level on 4% of 2,449 trading days since Dec 2016.

LowestHighest
Its median0.36%Industry median0.61%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−6.0%+41.1%−33.6%0.3%
3 years+33.2%+8.2%+22.9%0.3%
5 years+38.5%+46.8%−5.9%0.4%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count. Earnings growth over 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2021.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Minda Corporation shareholding pattern

Shareholding by group

  • Promoters64.84%
  • Foreign institutions9.37%
  • Indian institutions17.91%
  • Individuals and others6.32%
  • Employee trusts1.56%
Holder
ASHOK MINDAPromoter34.19%
MINDA CAPITAL PRIVATE LIMITEDPromoter16.14%
SARIKA MINDAPromoter13.97%
KOTAK FUNDS - INDIA MIDCAP FUNDForeign portfolio investors, category I3.59%
Employees Benefit Trust (Under SEBI (Share Based Employee Benefit Regulation 2014)Employee benefit trusts1.56%
SBI LIFE INSURANCE CO. LTDInsurance companies1.27%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions +0.07 pts, Indian institutions +0.04 pts, mutual funds +0.04 pts.

The filing reports 3,85,81,298 of its 23,90,79,428 shares locked in.

Mutual fund holdings

72 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 39 of the 44 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 72 funds holding Minda Corporation

Bought for the first time
2
Added
14
Cut
30
Held unchanged
26
Sold out
3
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.Minda Corporation insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Others: no market trade · 3 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Minda Corporation competitors and peers

Auto Components & Equipments, 155 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Minda Corporation in market cap.Automobile companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Sundram Fasteners logoSundram FastenersSUNDRMFAST22,51735.604.95+17.2%+14.2%14.7%15.4%0.75%
SPR Auto Technologies logoSPR Auto TechnologiesSHRIPISTON20,78236.87–+35.2%+7.4%21.3%15.7%0.22%
Belrise Industries logoBelrise IndustriesBELRISE20,34440.14–––12.8%12.0%0.26%
Tenneco Clean Air India logoTenneco Clean Air IndiaTENNIND17,27628.7614.43––50.2%69.4%0.00%
SEDEMAC Mechatronics logoSEDEMAC MechatronicsSEDEMAC14,146–31.49––––0.00%
Lumax Auto Technologies logoLumax Auto TechnologiesLUMAXTECH14,03038.689.99+32.8%+71.5%29.5%22.4%0.27%
CIE Automotive India logoCIE Automotive IndiaCIEINDIA13,46914.441.74+12.4%+15.3%12.7%13.6%1.97%
Amara Raja Energy & Mobility logoAmara Raja Energy & MobilityARE&M12,88713.981.59+12.7%+7.2%11.9%10.9%1.51%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Minda Corporation dividend history

Dividend per share, ₹, restated for later splits and bonuses

0.5Mar 170.6Mar 180.7Mar 190.4Mar 200.7Mar 211Mar 221.2Mar 231.4Mar 241.4Mar 251.4Mar 26
Highest ₹1.40 a share, years to Mar 2024, Mar 2025 and Mar 2026.
Ex-dateTypePer share
14 Aug 2026Final₹0.80
13 Feb 2026Interim₹0.60
14 Aug 2025Final₹0.90
12 Feb 2025Interim₹0.50
7 Aug 2024Final₹0.90
14 Feb 2024Interim₹0.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Minda Corporation announcements

Minda Corporation share price by year

Each calendar year to 2025.Minda Corporation share price history

YearClose at year endChangeHighest closeLowest close
2025574.10+17.3%607.60458.80
2024489.50+26.7%632.30375.90
2023386.25+88.8%401.05192.70
2022204.55+21.3%271.20167.75
2021168.60+88.0%177.7585.70
202089.70−10.6%117.1553.45
2019100.35−32.1%154.8566.75
2018147.70−31.1%216.75109.45
2017214.35+141.7%219.3588.30
201688.70−8.4%138.0586.60
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 2026608.35640.45597.95629.75628.652,73,85644.6%
27 Oct 2026592.95613.85592.95609.85609.131,04,98851.9%
26 Oct 2026593.50601.40586.00594.35593.862,86,01563.6%
23 Oct 2026606.95608.65580.00600.65591.083,48,77246.6%
22 Oct 2026601.50627.95597.80612.95614.273,25,42152.7%
21 Oct 2026633.70633.75602.15608.45610.922,25,07857.0%
19 Oct 2026645.25648.05630.20633.70636.851,33,29453.2%
16 Oct 2026640.85654.50635.25649.85645.091,08,28862.3%
15 Oct 2026657.70657.75629.80638.95640.313,05,79155.4%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
5 Jan 2015Bonus0.5000Holders received 1 bonus share for every 1 held.
5 Jan 2015Split0.2000Each share became 5.
27 Mar 2012Bonus0.5000Holders received 1 bonus share for every 1 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson and chief executive
Ashok Minda
At the end of the quarter to Sep 2026
NSE symbol
MINDACORP
BSE code
538962
ISIN
INE842C01021
Industry
Auto Components
CIN
L74899DL1985PLC020401
Corporate identity number, the registrar of companies' code for it
Incorporated
1985
Registered office
A-15, Ashok Vihar, Phase - I, Delhi 110052, Delhi
Share registrar
Skyline Financial Services Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments