Transcription of Conference Call with Investors/Analysts held on August 12, 2025
MINDACORP · price
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Awaiting price reaction for this filing.
Minda Corporation reported its highest-ever quarterly revenue of Rs. 1,386 crores in Q1 FY2026, up 16% year-on-year, beating industry growth of about 1.9%. Highest-ever EBITDA of Rs. 156 crores (up 19% YoY) with margin improving 23 bps to 11.3%. PAT stood at Rs. 65 crores (margin 4.7%), impacted by higher finance and depreciation costs from capacity expansion and the Flash Electronics partnership. Strong order book of Rs. 1,300+ crores was reported, with over 30% from new energy vehicles. The company signed a 60:40 joint venture with Toyodenso Corporation of Japan to make automotive switches (Rs. 150 crore investment, production from Q4 FY27) and announced a strategic partnership with Qualcomm for smart cockpit solutions. Capex guidance for FY26 is Rs. 350-375 crores, and the company also acquired 32 acres in Aurangabad for future expansion.
Strong quarter with revenue and EBITDA hitting record highs, margin expansion, and a robust EV-heavy order pipeline signals healthy growth momentum. Backed by new JVs (Toyodenso, Qualcomm), capacity expansion, and promoter support (Rs. 105 crores via warrants used for debt repayment), the outlook appears positive for sustained top-line and margin improvement, which should be supportive of the stock.