| P/E TTM | 31.33Sector P/E 31.32 |
|---|---|
| Market Cap | ₹15,695 CrMid-range Performer |
| 1-Year Return | 16.46%Price Performance |
| RSI | 54.23Neutral Zone |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 2,189 | 1,846 | 1,531 |
| Other Income | 3.0 | 1.6 | 3.0 |
| Total Income | 2,192 | 1,848 | 1,534 |
| Profit Before Tax | 157 | 237 | 92.8 |
| Exceptional Items | 0.0 | 124 | 0.0 |
| Net Profit | 143 | 206 | 84.6 |
| Operating Margin | 7.2% | 12.8% | 6.0% |
| Net Profit QoQ | -30.6% | ||
| Net Profit YoY | +69.0% | ||
| Adj. Profit QoQ | +38.5% | ||
| Adj. Profit YoY | +71.8% | ||
Key highlights
- Consolidated revenue from operations grew 42.6% YoY to reach ₹2,189 crore
- Net profit increased 69% YoY to ₹143 crore, up from ₹84.6 crore in the same quarter last year
- EV-related products accounted for approximately 35% of all new order wins during Q2 FY27
- EBITDA margin stood at 11.8%, marking a 17-basis point improvement over the previous year
- Board approved an additional investment of up to ₹37 crore in Minda HCMF Technologies
- Appointment of Mrs. Rachna Nath as Additional Director (Independent) effective November 10, 2026
Automotive Demand and Premiumisation Drive Revenue Growth
Minda Corporation achieved a record quarterly revenue of ₹2,189 crore in Q2 FY27, representing a substantial 42.6% growth compared to ₹1,531 crore in the corresponding quarter of the previous year. This performance was largely driven by sustained demand across key vehicle segments and a strategic focus on product premiumisation. While net profit rose 69% YoY to ₹143 crore, it registered a sequential decline from Q1 FY27, which had been bolstered by an exceptional gain of ₹124 crore related to the consolidation of Minda Vast.
The operating margin for the current quarter stood at 7.2%, reflecting the company's focus on operational efficiency amidst expanding business verticals.
Strategic Expansion and Joint Venture Funding
- Board approved an additional investment of up to ₹37 crore in Minda HCMF Technologies Private Limited
- Total investment in the HCMF joint venture will increase to approximately ₹60 crore upon allotment
- The joint venture maintains a 50:50 shareholding ratio with HCMF Co., Ltd
- Investment involves subscription to 3 crore equity shares at ₹10 each to support business expansion
- Capital expenditure for the group remains focused on technology transformation and R&D facilities
Leadership Transition and Governance Reconstitution
The company announced a significant transition in its leadership structure following the completion of tenure for Mrs. Pratima Ram as an Independent Director on November 09, 2026. To fill the vacancy, the Board has approved the appointment of Mrs.
Rachna Nath as an Additional Director in the capacity of Independent Director for a five-year term starting November 10, 2026. Furthermore, Mr. Ravi Sud has been designated as the Lead Independent Director.
These changes have prompted a full reconstitution of the Audit, Nomination and Remuneration, Stakeholders’ Relationship, and Corporate Social Responsibility committees to ensure continued governance excellence.
Focus on Electrified Mobility
Q2 and H1FY27 reflected continued progress in our long-term growth strategy, driven by demand across key vehicle segments and execution across our businesses. EV-related products accounted for approximately 35% of new order wins in Q2FY27, highlighting our progress in addressing the industry’s transition towards smarter, connected and electrified mobility.
| Date | Announcement | Amount |
|---|---|---|
| 13 Aug 2026 | Q1 FY27 consolidated revenue from operationsSource: sahi.com | ₹1,846.31 Cr |
| 22 May 2026 | Q4 FY26 consolidated revenue from operationsSource: sahi.com | ₹1,704.00 Cr |
| 05 Feb 2026 | Q3 FY26 consolidated revenue from operationsSource: multibagg.ai | ₹1,560.00 Cr |
| 06 Nov 2025 | Q2 FY26 consolidated revenue from operationsSource: sparkminda.com | ₹1,535.00 Cr |
| 12 Aug 2025 | Q1 FY26 consolidated revenue from operationsSource: autocarpro.in | ₹1,386.00 Cr |
| 27 May 2025 | Q4 FY25 consolidated revenue from operationsSource: tradebrains.in | ₹1,321.00 Cr |
What to watch next
- Completion of Mrs. Pratima Ram's tenure as Independent Director on November 09, 2026
- Effective start date for Mrs. Rachna Nath and Mr. Ravi Sud in new board roles on November 10, 2026
- Execution of the ₹37 crore additional investment in the Minda HCMF joint venture
- Progress toward the Vision 2030 revenue target of ₹17,500 crore previously announced
“The Company will continue to invest in R&D, localization and manufacturing capabilities to increase its content per vehicle and address evolving customer requirements.”
| Share price | ₹656.5 |
|---|---|
| Market capitalisation | ₹15,695.56 Cr |
| Revenue (annual) | ₹6,185.30 Cr |
| Net profit (annual) | ₹360.30 Cr |
| Revenue (latest quarter) | ₹1,846.31 Cr+8.36% vs previous quarter |
| Net profit (latest quarter) | ₹206.03 Cr+65.34% vs previous quarter |
| P/E (TTM) | 31.33×Sector 31.32× |
| Promoter holding | 64.84%0.00% QoQ |
| FII holding | 9.36%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Minda Corporation Limited announcing the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. Market figures from a third-party data provider.
