| Revenue growth | +43% YoY; vehicle access jump from Minda Vast consolidation. |
|---|---|
| Margins | EBITDA 11.8% Q2 vs 11.6% H1; Flash margin pressured, pass-through lagged. |
| Order book | EV ~35% of order book; 60% from new platforms; no ratio given. |
| Demand visibility | Industry sales record Q2; 2W +16.5%, PV +25%, CV +34%. |
| Management confidence | Optimistic; 'landmark', 'highest ever' language; few forward numbers. |
Growth
Q2 revenue +43% YoY and +19% QoQ; EBITDA +45%; PAT +69%. H1 normalized PAT excludes a ₹106 Cr one-time gain.
Outlook
Targets 80-90% renewable power by 2035. TFT display plant ~₹200 Cr, SOP in ~18 months. No revenue guidance given.
Risks
Flash margins hit by commodity, input and wage costs; recovery pending. Management declined to disclose TFT margins.
Last quarter's promises, checked
Delivered
- EBITDA margin 11.5–12% for rest of FY → 11.8% Q2 (= BEAT)
Partly delivered
- FY27 capex ~₹400 Cr → only ~₹200 Cr display facility cited, total undisclosed (= PARTIAL)
- Switches ₹1,000 Cr lifetime orders, SOP Q1 FY28 → TFT clusters ₹1,000 Cr+, SOP FY28; product label changed (= PARTIAL)
Missed
- Flash back on track in 1–2 quarters → Q2 margins compressed, recovery pending (= MISS)
Earnings Call Transcript filed with NSE, NSE: MINDACORP. Summary written with AI assistance from the document.
Minda Corporation Ltd: key numbers
- Share price
- ₹684.60
- Market cap
- ₹16,367 Cr
- Revenue (annual)
- ₹6,185 Cr
- Net profit (annual)
- ₹360.3 Cr
- P/E (TTM)
- 29.3×Sector 31.7×
- Promoter holding
- 64.84%+0.00% QoQ
- FII holding
- 9.36%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Minda Corporation Ltd
All →Minda Corporation Investor Presentation: Key Takeaways
Record Q2 FY27: revenue Rs2,189 Cr (+42.6% YoY), EBITDA Rs257 Cr (11.8%), normalised PAT Rs143 Cr (+68.9%). EV-led growth and backward integration.
Minda Corporation Management Change
Minda Corporation Limited has appointed Mrs. Rachna Nath as an Independent Director for a five-year term. Mrs. Pratima Ram's tenure will conclude on November 9, 2026.
- Execution
- 60 months
Minda Corporation Q2 FY27 Results: Net Profit ₹143 Cr, Up 69.0% YoY
Minda Corporation Ltd reported revenue from operations of ₹2,189 Cr (+43.0% YoY) and net profit of ₹143 Cr (+69.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹143 Cr · +69.0% YoY
Minda Corporation Board Meeting Date
Minda Corporation intimated a board meeting on 03-Nov-2026 to consider unaudited Q2 FY2027 financial results. Trading window closure runs 01-Oct to 05-Nov 2026.
Minda Corporation Other Announcement
Minda Corporation Ltd filed its quarterly shareholding pattern for the quarter ended September 30, 2026, in compliance with SEBI LODR regulations.
Minda Corporation Acquisition Worth ₹1.12 Cr
Minda Corporation will acquire a 26% stake in Agganga Energy Private Limited for up to ₹1.12 Crore to shift towards renewable energy sources.
- Value
- ₹1.12 Cr
- Execution
- Approximately 6 months