Financial Performance Highlights

Consolidated Q1 FY2027 Performance:

  • Revenue: ₹1,846 crore, representing 33.2% year-on-year growth
  • EBITDA: ₹212 crore, with EBITDA margin of 11.5% (up 19 basis points YoY)
  • Profit Before Tax (PBT): ₹237 crore, with PBT margin of 12.8%
  • Profit After Tax (PAT): ₹206 crore, with PAT margin of 11.2%

Comparative Performance:

The company reported significant improvement across all financial metrics compared to both previous year and previous quarter:

  • EBITDA growth of 35.4% YoY (₹212 crore vs ₹156 crore in Q1 FY2026) and 4.1% QoQ (₹212 crore vs ₹203 crore in Q4 FY2026)
  • PBT growth of 235.0% YoY (₹237 crore vs ₹71 crore in Q1 FY2026) and 92.0% QoQ (₹237 crore vs ₹123 crore in Q4 FY2026)
  • PAT growth of 215.8% YoY (₹206 crore vs ₹65 crore in Q1 FY2026) and 66.3% QoQ (₹206 crore vs ₹124 crore in Q4 FY2026)

Exceptional Item:

PAT for Q1 FY2027 includes an exceptional gain (net of tax) of ₹106 crore arising from the consolidation of Minda VAST into Minda Corporation.

Strategic Developments and Investments

Consolidation Activity:

  • Minda Corporation completed the consolidation of Minda VAST into the company effective from Q1 FY2027
  • This consolidation strengthens the company's presence in the passenger vehicle segment
  • Expands vehicle access systems portfolio across locksets, latches, handles, immobilizers, passive entry systems and power access solutions

Investment Activity:

  • The company invested ₹63 crore in its group companies during the quarter
  • Investments were made in:
  • Spark Minda Green Mobility Systems Private Limited
  • Minda HCMF Technologies Private Limited
  • Spark Minda – Toyodenso India Private Limited
  • Purpose: To support business expansion and technology capabilities

Management Commentary

Mr. Ashok Minda, Chairman and Group CEO, commented:

  • Q1 FY2027 reflected steady progress in line with long-term growth strategy
  • Performance supported by strong demand across key vehicle segments
  • Company strengthened technology capabilities through strategic partnerships
  • Expanded order pipeline with new business wins
  • Continued investment in innovation and product development
  • Focus on addressing evolving needs of the automotive industry
  • Emphasis on operational excellence, technology leadership and sustainable value creation

Forward Outlook

  • Focus on expanding product portfolio and strengthening customer relationships
  • Increasing presence across emerging mobility segments
  • Continued investment in technology, product innovation and manufacturing capabilities
  • Maintain focus on operational excellence, premiumization and sustainable long-term growth

Company Background

Minda Corporation Limited is the flagship company of Spark Minda, founded in 1958 by the late Shri Shadi Lal Minda. The company is one of India's leading automotive component manufacturers serving major OEMs and Tier-1 suppliers across:

  • Passenger vehicles
  • Commercial vehicles
  • Two-wheelers
  • Off-road vehicles
  • Aftermarket

Global Presence:

  • 42 manufacturing plants and offices across six countries (India, Indonesia, Vietnam, Japan, Uzbekistan, Poland)
  • Workforce of over 23,000 professionals
  • Strong R&D ecosystem with 1,000+ engineers
  • Two Advanced Spark Minda Technical Centres in Pune and Bengaluru
  • Nine engineering centres across India
  • 11 global technology partnerships

Product Portfolio:

  • Vehicle access systems
  • Smart electronics
  • Advanced automotive sensors
  • Instrument clusters
  • Telematics
  • Wiring harnesses
  • Die-casting solutions
  • Interior plastics
  • Electric vehicle mobility solutions
  • Starter motors and alternators

Safe Harbour Statement

The release contains forward-looking statements relating to implementation of strategic initiatives and future business developments and economic performance. Actual results may differ due to factors including general market conditions, macro-economic factors, governmental and regulatory trends, currency exchange and interest rate movements, competitive pressures, technological developments, changes in financial conditions of third parties, legislative developments, and other key factors.