Proceedings of Board Meeting of Minda Corporation Limited held on Tuesday, August 12, 2025 along with Un-Audited Standalone and Consolidated Financial Results for the quarter ended on June 30, 2025 and Limited Review Report (LRR)
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Minda Corporation reported its highest-ever quarterly consolidated revenue of Rs. 1,386 Crore for Q1 FY26, up 16.2% year-on-year, beating analyst estimates. EBITDA rose 18.6% to Rs. 156 Crore with margins improving 23 basis points to 11.3%. Profit after tax (PAT) grew modestly by 1.7% to Rs. 65 Crore, while profit before tax (PBT) declined 16.2% to Rs. 71 Crore due to higher finance costs. The company announced a new joint venture with Japan's Toyodenso for manufacturing automotive switches (Minda holding 60% stake), with operations expected to begin in H2 FY27. Minda also partnered with Qualcomm to co-develop smart cockpit solutions. Additionally, the company issued 76.5 lakh share warrants to promoter-group entity Minda Capital at Rs. 550 per warrant, receiving Rs. 105.2 Crore as 25% subscription amount. Auditors S.R. Batliboi & Co. LLP issued a clean limited review report with no qualifications.
Strong revenue growth and margin expansion signal operational health, though weak PBT growth and the large related-party warrant issuance may draw investor attention. The new JVs with Toyodenso and Qualcomm strengthen the long-term growth narrative for shareholders.