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Swing Capital

Minda Corporation Ltd

NSE: MINDACORP BSE: 538962

Minda Corporation Ltd is one of the leading automotive component manufacturing companies in India with a pan-India presence and international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group.[1]

₹515
52W: ₹445 — ₹644
PE 60.3 · Book ₹87.2 · +491% vs book
Market Cap₹12,313 Cr
Stock P/E60.3Price to Earnings
ROCE11.8%Return on Capital
ROE11.2%Return on Equity
Div. Yield0.27%Face Value ₹2

Weaknesses

  • −Stock is trading at 5.89 times its book value

Shareholding Pattern

Promoters64.84%
FIIs8.8%
DIIs18.82%
Public5.97%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%
FIIs6.07%7.62%▲1.57.98%▲0.48.33%▲0.38.83%▲0.58.72%▼0.19.09%▲0.48.8%▼0.3
DIIs20.63%18.87%▼1.818.42%▼0.418.48%▲0.118.17%▼0.318.52%▲0.318.43%▼0.118.82%▲0.4
Public6.86%7.07%▲0.27.16%▲0.16.77%▼0.46.58%▼0.26.35%▼0.26.08%▼0.35.97%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales9909691,0059671,0581,0371,0831,1351,2491,263
Expenses8798568838599349149611,0111,1111,116
Operating Profit111113122108124123122124137148
OPM %11%12%12%11%12%12%11%11%11%12%
Net Profit48446252635834424779
EPS ₹21.852.572.162.622.421.411.751.973.32

AI Insights

Revenue Trend

TTM revenue at ₹4,730Cr, up 14.1% YoY. OPM at 11%.

Debt Position

Borrowings at ₹1,563Cr. Debt-to-equity ratio: 0.77x. Moderate leverage.

Capex Cycle

CWIP at ₹69Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 18.82% (+6.94pp change). FIIs: 8.8% (+3.06pp change). Promoters hold 64.84%.

Margin & Efficiency

ROCE improving from 12% (Mar 2014) to 12% (Mar 2025). Working capital days: -52.

Valuation

PE 60.3x with 11.8% ROCE. Price is 491% above book value of ₹87.2. Dividend yield: 0.27%.

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