Minda Corporation Limited
₹631.70-₹11.05 (-1.7%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹13,749 Cr
- P/E
- 76.2x
- EV / EBITDA
- 31.0x
- Revenue
- ₹4,144 Cr
- Net margin
- 4.9%
- ROCE
- 19.3%
Price chart
Technical chartScreen technicals →+10.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -9.0%
- 3M
- -10.7%
- 6M
- +21.4%
- 1Y
- +10.8%
- 5Y
- +260.4%
52-week range
Day change -₹11.05 (-1.7%) from ₹643 to ₹632 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in MINDACORP, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Large-cap with ₹13.7K Cr market capitalisation
Concerns1
- Valuation elevated — PE of 76.2x is 47% above peer average of 51.9x
Rule-based from financial data. Not advice.
About the company
Minda Corporation Limited manufactures and sells automobile components and parts in India, rest of Asia, America, Europe, and Africa.
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Minda Corporation Limited manufactures and sells automobile components and parts in India, rest of Asia, America, Europe, and Africa. The company offers mechatronic products, such as ignition switch cum steering locks, smart key systems and keyless entry, access systems, mechatronics handles, immobiliser fuel tank caps, aluminium and zinc die casting components, flush outer door handles, knob type smart lock systems, starter motors, and alternators; information and connected systems, including wiring harness, connectors, cockpit, fully digital clusters, terminals, and components; and instrument clusters and dashboard, as well as speed, temperature, position, pressure, and exhaust gas sensors. It also provides plastic and interior products comprising air vent rears, glove boxes, center consoles, cup holders, ash trays, louvers, oil slumps, cylinder heads, battery trays, and light weight solutions; and aftermarket products that comprise locks, lubricants, filters, clutch plates, bearings, wiper blades, brake shoes, and cables. In addition, the company offers DC-DC convertors, battery chargers, motor controllers, intelligent transport system, telematics, connected clusters, MFECU, and vehicle control units; and rod, micro pole, shark fin, and LF antennas. Further, it offers kick and tilt gyro IMU sensors, tyre pressure monitoring systems, EV supply equipment, primary gears, ignition coils, cooling fans, and spark plug caps, as well as various type of motors and invertors. The company serves passenger and commercial vehicle, motorcycle and scooter, off-road vehicle, and tier 1 manufacturers, as well as original equipment manufacturers. It exports its products. The company was formerly known as Minda Switch Auto Pvt. Ltd. and changed its name to Minda Corporation Limited in 2007. Minda Corporation Limited was founded in 1958 and is based in Noida, India.
- Sector
- Automobiles & Components
- Shares outstanding
- 23.9 Cr shares
- ISIN
- INE842C01021
- BSE code
- 538962
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹13,749 Cr
- P/E
- 76.2x
- P/B
- 6.6x
- EV / EBITDA
- 31.0x
- EV / Sales
- 3.6x
- P/S
- 3.6x
- Earnings yield
- 1.3%
- 52-week high
- ₹744.70
- 52-week low
- ₹480.05
Profitability
- Operating margin
- 11.4%
- Net margin
- 4.9%
- EBITDA margin
- 11.8%
- ROE
- 10.8%
- ROCE
- 19.3%
- ROA
- 6.3%
- Dividend payout
- 18.0%
- Tax rate
- 28.0%
- Other income, % of PBT
- 5.0%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹4,144 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 7.8%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 12.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹452 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.5%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 9.6%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹242 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -35.5%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹78.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 5.7%
Solvency and efficiency
- Current ratio
- 2.76
- Debt / Equity
- 0.31
- Debt / Assets
- 0.18
- Debt / EBITDA
- 1.19
- Interest coverage
- 7.84
- Financial leverage
- 1.73
- CFO / Net profit
- 1.29
- Cash / Market cap
- 10.4%
- Cash per share
- ₹59.72
- Asset turnover
- 1.28
- Fixed asset turnover
- 4.05
- Capital intensity
- 0.25
- Debtor days
- 58 days
- Inventory turnover
- 5.70
- Cash conversion cycle
- 44 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹5 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹3,666 Cr |
| Sales | Operating profit | ₹478 Cr |
| Operating profit | Interest | ₹68 Cr |
| Operating profit | Depreciation | ₹171 Cr |
| Operating profit | Profit before tax | ₹239 Cr |
| Other income | Profit before tax | ₹38 Cr |
| Profit before tax | Tax and other | ₹71 Cr |
| Profit before tax | Net profit | ₹206 Cr |
Revenue and net profit
Revenue grew 7.8% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹2,289 Cr | ₹84 Cr |
| FY2022 | ₹2,735 Cr | ₹160 Cr |
| FY2023 | ₹3,492 Cr | ₹241 Cr |
| FY2024 | ₹3,844 Cr | ₹188 Cr |
| FY2025 | ₹4,144 Cr | ₹206 Cr |
Cash flows
FY2025: ₹468 Cr from operations, -₹900 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹85 Cr | -₹174 Cr |
| FY2022 | ₹140 Cr | ₹167 Cr |
| FY2023 | ₹375 Cr | -₹77 Cr |
| FY2024 | ₹242 Cr | ₹386 Cr |
| FY2025 | ₹468 Cr | -₹900 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹4,144 Cr+7.8%1Y
- Net profit
- ₹206 Cr+9.6%1Y
- Cash from operations
- ₹468 Cr
- Free cash flow
- -₹900 Cr-333.2%1Y
- Revenue CAGR, 5Y
- 12.5%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹4,144 Cr | ₹478 Cr | — | ₹206 Cr | ₹468 Cr | -₹900 Cr | 10.8% | +7.8% | +9.6% |
Monthly returns
Month-by-month returns of MINDACORP across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹4,376 Cr |
| Equity capital | ₹48 Cr |
| Reserves | ₹1,858 Cr |
| Borrowings | ₹1,625 Cr |
| Other liabilities | ₹845 Cr |
| Assets | ₹4,376 Cr |
| Fixed assets | ₹1,210 Cr |
| Capital work in progress | ₹68 Cr |
| Investments | ₹1,725 Cr |
| Other assets | ₹1,373 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
MINDACORP trades at 76.2x earnings against a peer median of 34.8x (a 119% premium).
Not shown (no positive earnings and no EV / Sales): Ola Electric Mobility Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Minda Corporation LimitedMINDACORPthis companyP/E ↑ premium | ₹13,749 Cr | 76.2x | 6.6x | 10.8% | 31.0x |
| Ola Electric Mobility LimitedOLAELEC | ₹17,185 Cr | — | 1.6x | -1.0% | -1060.9x |
| Amara Raja Energy & Mobility LimitedARE&M | ₹16,138 Cr | 20.0x | 2.1x | 13.4% | 9.1x |
| Ceat Ltd.CEATLTD | ₹15,583 Cr | 27.6x | 3.4x | 16.6% | 10.2x |
| CIE Automotive India LimitedCIEINDIA | ₹15,419 Cr | 25.7x | 2.8x | — | — |
| JK Tyre & Industries Ltd.JKTYRE | ₹14,531 Cr | 29.8x | 3.1x | 15.2% | 11.7x |
| JBM Auto LimitedJBMA | ₹14,356 Cr | 97.8x | 11.8x | 5.8% | 46.7x |
| Gabriel India Ltd.GABRIEL | ₹13,705 Cr | 61.1x | 11.1x | 18.4% | 43.3x |
| SHRIRAM PISTONS & RINGS LTDSHRIPISTON | ₹13,415 Cr | 25.7x | 5.1x | 22.9% | 18.9x |
| Peer median | — | 34.8x | 5.2x | 16.1% | 21.0x |
Year-to-date ROI
MINDACORP since 1 January, against earlier years.
Historical volatility
MINDACORP's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 9.0% |
| FY2022 | 10.0% |
| FY2023 | 10.0% |
| FY2024 | 11.0% |
| FY2025 | 12.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹4,144 Cr |
| Costs | |
| Interest | ₹68 Cr |
| Expenses | ₹3,666 Cr |
| Operating profitOperating Profit | ₹478 Cr |
| Other income and charges | |
| Profit before tax | ₹277 Cr |
| Tax | |
| Net profitNet Profit | ₹206 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹4,376 Cr |
| Equity capitalEquity Capital | ₹48 Cr |
| Reserves | ₹1,858 Cr |
| Borrowings | ₹1,625 Cr |
| Other liabilitiesOther Liabilities | ₹845 Cr |
| AssetsTotal Assets | ₹4,376 Cr |
| Fixed assetsFixed Assets | ₹1,210 Cr |
| Capital work in progressCWIP | ₹68 Cr |
| Investments | ₹1,725 Cr |
| Other assetsOther Assets | ₹1,373 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹468 Cr |
| Investing cash flowCash from Investing Activity | -₹1,368 Cr |
| Financing cash flowCash from Financing Activity | ₹822 Cr |
| Change in cashNet Cash Flow | -₹78 Cr |
Learn while you research
Academy chapters picked for Minda Corporation Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 76.2, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Sectors & IndustriesHow to classify and compare companies across sectors.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read