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Minda Corporation Ltd.

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sparkminda.comBSE: 538962NSE: MINDACORP
Market Cap₹ 16,756 Cr.
Current Price
High / Low₹ 769 / 468
Stock P/E64.2
Book Value₹ 91
Price to Book5.72
Dividend Yield0.20 %
ROCE12.9 %
ROE12.0 %
Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence
74%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 23.6% CAGR over last 5 years
  • Latest quarter profit grew 46.1% YoY, showing strong momentum
  • Company has delivered good sales growth of 17.0% CAGR over last 5 years
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.04x)
  • Company generates healthy free cash flow
  • Company has a consistent dividend-paying track record

CONS

  • Stock is trading at 5.7x its book value
  • Growth is decelerating - 3Y profit CAGR (0.1%) trails the 5Y trend (23.6%)
  • Though reporting repeated profits, the company pays out little dividend (13.9%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary
Part ofNIFTY SMLCAP 250NIFTY 500NIFTY TOTAL MKT
S.No.Name
1.MOTHERSON163.8039.47172881.770.371075.6677.4835243.7717.7013.638.86
2.BOSCHLTD48900.0061.03144235.930.55706.10-36.745841.9022.0025.6014.08
3.UNOMINDA1230.4559.1071054.450.22315.512.105556.8523.7920.7411.14
4.TIINDIA2685.2585.7051979.010.13293.96-3.046215.3320.2027.338.81
5.SONACOMS800.4571.7949958.360.42178.5146.671301.2052.3814.7522.55
6.ENDURANCE2754.3539.9538743.470.42244.528.034314.8930.0118.3312.42
7.CRAFTSMAN11855.9066.6931008.430.09150.55116.312431.5836.3014.6515.81
8.ZFCVINDIA2471.0056.3328121.340.031044.78753.7510661.76992.8920.2312.93
9.SANSERA4133.0574.0225791.710.1087.3638.711021.2633.2714.2919.18
10.MSUMI36.7138.8024344.831.581453.20915.5134072.601273.4343.727.58
11.GABRIEL1361.0081.0424121.010.371081.26925.3514256.831055.0026.3711.71
12.MINDACORP700.8533.4516755.880.20206.25215.801846.3133.2213.6912.43
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
8809909691,0059671,0581,0371,0831,1351,2491,2631,3701,401
7898798568838599349149611,0111,1111,1161,2001,320
Operating Profit9111111312210812412312212413714817080
OPM %10.34%11.22%11.65%12.13%11.21%11.69%11.83%11.30%10.93%11.01%11.69%12.41%5.74%
22299131061042682
Interest14151412101112343331293031
Depreciation32343436384242484748484950
Profit before Tax476467837083794654639710082
Tax %25.52%25.62%33.55%25.48%25.79%24.76%26.62%26.12%22.57%25.39%18.51%26.38%25.80%
Net Profit35484462526358344247797361
1.462.001.852.572.162.622.421.411.751.973.323.072.56

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
7721,9552,3712,1302,2892,7353,4923,8444,1445,0175,283
6931,7502,0911,8892,0772,4693,1343,4073,6664,4374,747
Operating Profit79205280241212266358438478580536
OPM %10.28%10.50%11.81%11.33%9.24%9.72%10.26%11.39%11.54%11.56%10.14%
161645-31930461714384941
Interest92536413931405668123121
Depreciation2049628290103110136171191194
Profit before Tax67148228-201114178225260277314342
Tax %18.11%30.68%29.59%-20.07%26.26%10.00%-6.93%27.58%25.78%23.09%23.82%
Net Profit55103161-24184160241188206242261
EPS2.584.907.15-10.613.626.7010.067.898.6210.10—
Dividend Payout %19.15%12.25%9.89%-3.30%18.56%14.92%11.92%17.75%16.25%13.86%—

COMPOUNDED SALES GROWTH

10 Years:
22%
5 Years:
17%
3 Years:
13%

COMPOUNDED PROFIT GROWTH

10 Years:
18%
5 Years:
24%
3 Years:
0%

STOCK PRICE CAGR

10 Years:
20%
5 Years:
41%
3 Years:
26%
1 Year:
38%

RETURN ON EQUITY

10 Years:
10%
5 Years:
14%
3 Years:
12%
Last Year:
12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 14

₹ 0.40

Rs.0.8000 per share(40%)Final Dividend

2026

Feb 13

₹ 0.30

Rs.0.6000 per share(30%)Interim Dividend

2025

Aug 14

₹ 0.45

Rs.0.9000 per share(45%)Final Dividend

2025

Feb 12

₹ 0.25

Rs.0.5000 per share(25%)Interim Dividend

2024

Aug 7

₹ 0.45

Rs.0.9000 per share(45%)Final Dividend

2024

Feb 14

₹ 0.25

Rs.0.5000 per share(25%)Interim Dividend

2023

Jul 21

₹ 0.40

Rs.0.8000 per share(40%)Final Dividend

2023

Feb 17

₹ 0.20

Rs.0.4000 per share(20%)Interim Dividend

2022

Jul 21

₹ 0.35

Rs.0.7000 per share(35%)Final Dividend

2022

Feb 15

₹ 0.15

Rs.0.3000 per share(15%)Interim Dividend

2021

Jul 1

₹ 0.17

Rs.0.3500 per share(17.5%)Final Dividend

2021

Feb 15

₹ 0.15

Rs.0.3000 per share(15%)Interim Dividend

2020

Feb 17

Rs.0.3500 per share(17.5%)Interim Dividend

2018

Jul 19

Rs.0.3500 per share(17.5%)Final Dividend

2018

Feb 22

Rs.0.2500 per share(12.5%)Interim Dividend

2017

Aug 10

₹ 0.15

Rs.0.3000 per share(15%)Final Dividend

2017

Mar 1

₹ 0.10

07/03/2017 Equity Rs.0.2000 per share(10%)Interim Dividend

2016

Sep 14

₹ 0.15

Rs.0.3000 per share(15%)Final Dividend

2016

Feb 23

₹ 0.10

Rs.0.2000 per share(10%)Interim Dividend

2015

Sep 2

₹ 0.10

Rs.0.2000 per share(10%)Final Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital42424545484848484848
3726441,0888199761,1221,3311,6891,8612,070
1364123973744744757054431,4821,310
Trade Payables90297338422493440567510647827
164105114205210152177312335443
Total Liabilities8041,5001,9821,8662,2012,2382,8273,0024,3734,698
1604144455325756467869491,2101,274
Capital Work in Progress21111528181871264884
2933103521501503277045981,7251,762
43194253323375393457416448520
0000000613629712
Cash & Bank110322395462216851161831
286561595439621637725284296314
Total Assets8041,5001,9821,8662,2012,2382,8273,0024,3734,698

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
4383250344105182386242468588
Cash from Investing-150-128-432-149-25927-452144-1,368-306
Cash from Financing7384238-134172-160108-354822-271
-43-0-312-173131-7811

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
64.8464.8464.8464.8464.8464.8464.8464.8464.84
6.067.617.978.328.828.719.088.799.29
20.6318.8718.4218.4818.1718.5218.4318.8217.87
Government0.000.000.000.000.000.000.000.000.00
8.468.678.758.348.157.927.647.537.99

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-31
General Updates

2026-08-31 - Minda Corporation Limited has informed the Exchange about participation in Elara Conference, themed ASHWAMEDH - ELARA INDIA DIALOGUE 2026 on 3rd September, 2026 in Mumbai.

2026-08-21
Shareholders meeting

2026-08-21 - Minda Corporation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 27, 2023. Further, the company has informed the Exchange regarding voting results.

2026-08-21
Resignation of Director/KMP/SMP

2026-08-21 - Minda Corporation Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-21
Resignation

2026-08-21 - Minda Corporation Limited has informed the Exchange regarding Resignation of Mr. Pardeep Mann as Company Secretary & Compliance Officer of the company w.e.f. August 21, 2026.

2026-08-21
Shareholders meeting

2026-08-21 - Minda Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 27, 2023

2026-08-19
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - Minda Corporation Limited has informed the Exchange about Transcript

2026-08-18
Updates

2026-08-18 - Minda Corporation Limited has informed the Exchange regarding 'Press Release dated 18th August 2026 wrt Minda Instruments Limited a wholly owned subsidiary of the Company'.

2026-08-14
Copy of Newspaper Publication

2026-08-14 - Minda Corporation Limited has informed the Exchange about Copy of Newspaper Publication of Quarterly result ended on June 30, 2026

2026-08-13
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Minda Corporation Limited has informed the Exchange about Link of Recording

News

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