Minda Corporation Limited has informed the Exchange about Un-audited Financial Results for the Quarter ended on June 30, 2025
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Minda Corporation posted its highest-ever quarterly consolidated revenue of Rs. 1,386 Crore in Q1 FY26, up 16.2% year-on-year, driven by strong product portfolio and expanding customer base. EBITDA grew 18.6% to Rs. 156 Crore with margins expanding 23 basis points to 11.3%. However, profit before tax fell 16.2% YoY to Rs. 71 Crore, while profit after tax grew marginally by 1.7% to Rs. 65 Crore, helped by lower tax incidence. For full-year FY25, revenue grew 8.7% to Rs. 5,056 Crore and PAT rose 12.4% to Rs. 255 Crore. The company announced two strategic partnerships: a 60:40 joint venture with Japan's Toyodenso to manufacture automotive switches (operations expected by 2H FY27), and a collaboration with Qualcomm to co-develop smart cockpit solutions. During the quarter, the company issued 76.5 lakh share warrants at Rs. 550 each to promoter-group entity Minda Capital Private Limited on a preferential basis, receiving Rs. 105.19 Crore as 25% subscription amount.
Strong revenue growth and steady margin expansion indicate healthy operational momentum and pricing power. However, the divergence between declining PBT and only marginal PAT growth suggests rising costs or one-off items pressured pre-tax earnings. The Toyodenso JV and Qualcomm collaboration open new growth avenues in switches and connected vehicle technology. Shareholders should note the sizeable preferential warrant issuance to a promoter-related entity, which represents a potential future equity dilution.