MarketFriction

Minda Corporation Ltd

NSE MINDACORP · BSE 538962 · Auto Components & Equipments
₹667.35 -3.68%
NSE close2026-10-01
52 week range468.50 - 769.00
Market cap₹16,084 Cr.
P/E39.9
Nifty 500Smallcap 250 Price band 20% Delivery 49.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1961,1661,2151,1921,2901,2531,3211,3861,5351,5601,7041,846
Expenses1,0651,0361,0761,0611,1431,1091,1681,2301,3571,3771,5001,635
Operating Profit131130139132147144153156178184203212
OPM %11%11%11%11%11%11%12%11%12%12%12%11%
Other Income22108129333-18126
Interest151412101112343331293031
Depreciation414244465150575657585969
Profit before tax77769284969065719397123237
Tax %24%33%25%26%26%29%36%26%27%33%25%20%
Net Profit59527164746552658584124206
EPS in Rs2.462.202.962.693.112.712.182.733.543.585.218.62
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,4352,0602,5943,0922,8132,3682,9764,3004,6515,0566,1856,646
Expenses2,2061,8682,3162,7972,5582,1482,6803,8374,1344,4805,4635,869
Operating Profit229192278295256220296463517576722776
OPM %9%9%11%10%9%9%10%11%11%11%12%12%
Other Income29272780-238-85616153214136
Interest37304051543932425769123121
Depreciation7458748811894112138166204230242
Profit before tax147131191236-15480208298308336384550
Tax %25%22%25%28%29%39%12%1%27%29%28%
Net Profit110102143169-20053192284227255358499
EPS in Rs5.124.886.827.45-8.792.218.0311.909.5010.6815.0720.95
Dividend Payout %10%10%9%9%-4%29%12%10%15%13%9%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%21%13%27%
Compounded Profit Growth14%31%8%57%
Stock Price CAGR21%38%26%18%
Return on Equity13%14%13%15%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital414242424545484848484848
Reserves4065075806941,1459251,0941,2781,5381,9282,1502,591
Borrowings5215625497286856255325117185401,6141,476
Other Liabilities4536603775875667326547319059111,0621,372
Total Liabilities1,4221,7711,5482,0512,4422,3272,3282,5673,2093,4274,8745,487
Fixed Assets5717195307117325706138871,0261,2071,5071,602
CWIP1513741621281832856385158
Investments295126139165176180644513481,4761,558
Other Assets8071,0348181,1841,5241,5521,5171,5831,6471,8091,8062,169
Total Assets1,4221,7711,5482,0512,4422,3272,3282,5673,2093,4274,8745,487
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity304226487020945086167387287544676
Cash from Investing Activity-53-158-158-200-402-137-19212-425116-1,409-381
Cash from Financing Activity-238-2967122203-24965-16174-358788-267
Net Cash Flow1339-43-81164-42183744-7627
Free Cash Flow223134-90-12491304-455913936202311
CFO/OP175%116%41%41%91%197%48%73%91%75%111%110%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days596566806451687054636059
Inventory Days7078911058685979375666766
Days Payable941047910379109124110958996107
Cash Conversion Cycle364079827126415334403118
Working Capital Days4-76143-15-6251331-28-16
ROCE %16%16%12%18%16%11%10%12%16%15%13%13%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%
FIIs5.53%3.73%5.07%6.07%7.62%7.98%8.33%8.83%8.72%9.09%8.80%9.30%
DIIs13.20%16.81%20.60%20.63%18.87%18.42%18.48%18.17%18.52%18.43%18.82%17.87%
Public14.78%12.99%7.90%6.86%7.07%7.16%6.77%6.58%6.35%6.08%5.97%6.43%
Others1.65%1.62%1.59%1.59%1.59%1.59%1.57%1.57%1.56%1.56%1.56%1.56%
No. of Shareholders96,38798,2381,00,68989,45993,90696,70192,13893,52696,34992,36889,48098,747

Fundamentals

Market Cap₹ 16,084 Cr.
Current Price₹ 673
Stock P/E39.9
Book Value₹ 110
ROCE12.7 %
ROE14.7 %
Dividend Yield0.21 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)27%
Compounded Profit Growth (TTM)57%
Consolidated figures.
Valuation
Market capRs 15,955 Cr
Enterprise valueRs 17,284 Cr
P/E (TTM)31.85x
Price to book6.05x
Price to sales2.40x
EV / EBITDA18.94x
EV / EBIT25.79x
EV / sales2.60x
Price to cash flow23.62x
Earnings yield3.14%
Dividend yield0.21%
P/E, 3-year average42.66x
P/B, 3-year average5.17x
P/E, 5-year average34.37x
P/B, 5-year average4.50x
Profitability
Operating margin (excl. other income)11.68%
Operating margin (incl. other income)11.90%
EBITDA margin13.73%
Pre-tax margin8.27%
Net profit margin7.54%
Net margin, latest quarter11.16%
ROE14.90%
ROCE12.79%
ROA6.96%
ROE, 3-year average13.30%
ROCE, 3-year average13.58%
ROA, 3-year average6.65%
ROE, 5-year average15.00%
ROCE, 5-year average14.18%
ROA, 5-year average7.53%
ROIC (approx.)12.21%
Tax rate27.72%
Other income / net worth0.52%
Growth
Sales growth (latest year)22.33%
Profit growth (latest year)41.07%
Sales CAGR, 3 years12.88%
Sales CAGR, 5 years21.17%
Profit CAGR, 3 years8.19%
Profit CAGR, 5 years46.83%
Sales growth QoQ8.36%
Profit growth QoQ65.34%
Sales growth YoY (latest quarter)33.22%
Profit growth YoY (latest quarter)215.46%
Per share
EPS (TTM)Rs 20.95
EPS (latest year)Rs 15.07
EPS (latest quarter)Rs 8.62
EPS, 3-year averageRs 11.75
EPS, 5-year averageRs 11.04
Book value per shareRs 110.37
Sales per shareRs 277.97
Cash flow per shareRs 28.26
Free cash flow per shareRs 13.01
Dividend per share (latest year)Rs 1.40
Dividend per share, 3-year averageRs 1.40
Dividend per share, 5-year averageRs 1.28
Dividends
Dividend payout9.29%
Dividend payout, 3-year average12.37%
Dividend payout, 5-year average11.93%
Efficiency
Asset turnover1.13x
Fixed asset turnover3.86x
Inventory turnover6.09x
Inventory days60 days
Debtor days59 days
Debtors turnover6.22x
Creditor days107 days
Cash conversion cycle18 days
Working capital days-16 days
Leverage
Total debtRs 1,476 Cr
Cash and bankRs 147 Cr
Net debtRs 1,329 Cr
Debt to equity0.56x
Net debt / EBITDA1.46x
Interest coverage5.56x
Current ratio (filing 2026-03-31)0.94x
Quick ratio (filing 2026-03-31)0.61x
Trade payables (filing 2026-03-31)Rs 1,143 Cr
Owners' fund to total sources48.10%
Debt to assets26.91%
Cash flow
Cash from Operating Activity (latest year)Rs 676 Cr
Cash from Investing Activity (latest year)Rs -381 Cr
Cash from Financing Activity (latest year)Rs -267 Cr
Net Cash Flow (latest year)Rs 27 Cr
Free cash flow (latest year)Rs 311 Cr
FCFE (approx.: FCF + change in debt)Rs 173 Cr
Cash from ops / profit, 5 years1.57x
Sales to cash flow9.16x
Statement figures
Net sales (TTM)Rs 6,646 Cr
Net sales (latest year)Rs 6,185 Cr
Sales (latest quarter)Rs 1,846 Cr
Operating profit excl. other income (latest year)Rs 722 Cr
Operating profit (latest quarter)Rs 212 Cr
Other income (TTM)Rs 136 Cr
EBITDA (TTM)Rs 913 Cr
PBDT (TTM)Rs 792 Cr
Profit before tax (TTM)Rs 550 Cr
Tax (latest year)Rs 106 Cr
Net profit (TTM)Rs 501 Cr
Net profit (latest year)Rs 360 Cr
Net profit (latest quarter)Rs 206 Cr
Depreciation (TTM)Rs 242 Cr
Depreciation (latest quarter)Rs 69 Cr
Interest (TTM)Rs 121 Cr
Cost of goods sold (latest year)Rs 4,322 Cr
Total expenditure (latest year)Rs 5,463 Cr
Total income (latest year)Rs 6,199 Cr
Share capitalRs 48 Cr
ReservesRs 2,591 Cr
Shareholders' fundsRs 2,639 Cr
Total assetsRs 5,487 Cr
Net blockRs 1,602 Cr
Capital work in progressRs 158 Cr
InvestmentsRs 1,558 Cr
ReceivablesRs 995 Cr
InventoryRs 710 Cr
Other liabilitiesRs 1,372 Cr
Shares outstanding (crore)23.91
Ownership
Promoter holding64.84% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 31.9 is at the 44th percentile of its own 8.4-year range (median 34.7, low 8.2, high 112.2).
P/B 6.05 is at the 74th percentile (median 4.66).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMINDACORPNifty 50Difference
1 week-1.9%-2.8% +0.9 pts
1 month-6.3%-6.8% +0.5 pts
3 months-5.1%-7.6% +2.5 pts
6 months+32.0%+0.4% +31.6 pts
1 year+16.1%-9.9% +26.0 pts
2 years+13.5%-13.6% +27.1 pts
3 years+100.4%+14.2% +86.2 pts
5 years+402.0%+27.9% +374.1 pts
66 mutual fund schemes hold about ₹2,848 Cr. Over three months 24 bought more and 12 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Small Cap Fund2.39%471 +2%
Axis Small Cap Fund1.31%411 +1%
Axis Large & Mid Cap Fund1.37%238 +2%
Axis Large & Mid Cap Fund1.37%231 +2%
Aditya Birla SL Value Fund3.07%212 +3%
Axis Multicap Fund1.62%178 -11%
ICICI Pru Small Cap Fund1.64%161 -13%
ICICI Pru Small Cap Fund1.64%156 -13%
SBI Automotive Opportunities Fund1.80%103 -19%
Aditya Birla SL Small Cap Fund1.52%95 -5%
Axis India Manufacturing Fund1.38%80 +0%
Mahindra Manulife Mid Cap Fund1.40%76 +1%
Edelweiss Balanced Advantage Fund(Q0.55%73 +4%
Aditya Birla SL Transportation and Logistics Fund3.85%65 -6%
Kotak Pioneer Fund1.00%43 -3%
Axis Value Fund1.77%33 -4%
ICICI Pru Multi Cap Fund0.14%27 +0%
ICICI Pru Multi Cap Fund0.14%26 +0%
Altiva Equity Ex-Top 100 Long-Short Fund1.86%18 +9%
Axis Multi Asset Allocation Fund(M0.63%17 -2%
Axis Business Cycles Fund0.75%16 +4%
Aditya Birla SL Bal Bhavishya Yojna1.03%13 +3%
Helios Small Cap Fund0.84%12 -23%
JioBlackRock Flexi Cap Fund0.37%12 +125%
Nippon India Nifty Smallcap 250 Index Fund0.26%9 +4%

Red flags

F-score 8 of 8
lookRegulator order or action Regulator order or action 2026-03-31: Minda Corporation Limited has informed the Exchange that the Minda Instruments Limited , a material subsidiary of the Company has received
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹1,846 Cr +33.2% vs Jun 2025. Net profit ₹206 Cr +216.9%.
Against our estimate for Jun 2026: sales +5.1%, profit +114.7% big beat. Our estimate for Sep 2026: sales Rs 2,012 Cr, profit Rs 129 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-14Dividend - Re 0.80 Per Share
2026-02-13Interim Dividend - Re 0.60 Per Share
2025-08-14Dividend - Rs 0.90 Per Share
2025-02-12Interim Dividend - Re 0.50 Per Share
2024-08-07Dividend - Re 0.90 Per Share
2024-02-14Interim Dividend - Re 0.50 Per Share
2023-07-21Dividend - Rs 0.80 Per Share
2023-02-17Interim Dividend - Re 0.40 Per Share
2022-07-21Dividend - Rs 0.70 Per Share
2022-02-15Interim Dividend - Rs 0.30 Per Share
2021-07-01 Dividend - Rs 0.35 Per Share
2021-02-15 Interim Dividend - Rs 0.30 Per Sh
2020-02-17 Int Dividend - Rs 0.35 Per Share
2019-09-19 Annual General Meeting/Dividend - Rs 0.45 Per Share
2019-02-21 Interim Dividend - Re 0.25 Per Share
2018-07-19 Dividend- Rs 0.35 Per Share
2018-02-22 Interim Dividend - Re 0.25 Per Share
2017-08-10 Dividend - Re 0.30 Per Share
2017-03-01 Interim Dividend Re 0.20 Per Share
2016-09-14 Annual General Meeting / Dividend Re 0.30/- Per Share
2016-02-23 Interim Dividend - Re 0.20/- Per Share
2015-09-02 Annual General Meeting / Dividend Re 0.20/- Per Share
2015-02-27Interim Dividend - Re 0.20/- Per Share
2015-01-05Bonus 1:1 / Face Value Split From Rs 10/- Per Share To Rs 2/- Per Share0.1000
2014-09-03Annual General Meeting / Divividend - Rs 2/- Per Share
2013-09-16Annual General Meeting / Div Of Rs. 2/- Per Equity Share
2012-09-12Annual General Meeting / Div Of Rs. 3/- Per Equity Share
2012-03-27Bonus 1:10.5000
DateTypeWhat it says
2026-09-24Change in ManagementChange in Management
2026-09-24Change in Company Secretary/Change in Company Secretary/Compliance Officer
2026-09-24Board meeting outcomeOutcome of Board Meeting held on September 24, 2026.
2026-09-24Board meeting outcomeOutcome of Board Meeting held on September 24, 2026.
2026-09-24Board meeting outcomeOutcome of Board Meeting held on September 24, 2026.
2026-09-21Concall / analyst meetSchedule of meet
2026-09-15General UpdatesESG Rating
2026-08-31General UpdatesParticipation in Elara Conference, themed ASHWAMEDH - ELARA INDIA DIALOGUE 2026 on 3rd September, 2026 in Mumbai.
2026-08-21Shareholder meetingVoting results.
2026-08-21ResignationResignation of Director/KMP/SMP
2026-08-21ResignationResignation of Mr. Pardeep Mann as Company Secretary & Compliance Officer of the company w.e.f. August 21, 2026.
2026-08-21Shareholder meetingProceedings of Annual General Meeting held on July 27, 2023
2026-08-19Concall / analyst meetTranscript
2026-08-18UpdatesPress Release dated 18th August 2026 wrt Minda Instruments Limited a wholly owned subsidiary of the Company.
2026-08-13Concall / analyst meetLink of Recording
2026-08-13Monitoring Agency ReportMonitoring Agency Report for the quarter ended 30th June 2026 is attached
2026-08-13Investor PresentationInvestor Presentation
2026-08-13Press ReleaseA press release dated August 13, 2026, titled "the company has announced press release for Financial Results for Q1FY27".
2026-08-13Board meeting outcomeMinda Corporation Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-07Concall / analyst meetSchedule of meet
2026-07-31General UpdatesPublication of notice in newspaper regarding evoting information post dispatch of AGM Notice
2026-07-28General UpdatesNewspaper publication on 28.7.2026 regarding advance notice to shareholders for transfer of dividend of FY 2018-19 final and corresponding shares to I...
2026-07-28General UpdatesGeneral Updates
2026-07-28UpdatesAdvance intimation to shareholders regarding transfer of unpaid and unclaimed dividend for FY 2018-19 and corresponding shares to IEPF .
2026-07-20Disclosure of material issueMinda Corporation Limited has informed regarding acquisition of further shares in Spark Minda Green Mobility Systems Private Limited(WOS) under right ...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Minda Corporation Ltd?

Minda Corporation Ltd (MINDACORP) has a market capitalisation of Rs 16,084 Cr. at the 2026-10-01 close.

What is the P/E ratio of Minda Corporation Ltd?

Minda Corporation Ltd trades at a P/E of 39.9 on trailing twelve-month profit, at the 2026-10-01 close.

What were Minda Corporation Ltd's latest quarterly results?

In the Jun 2026 quarter, Minda Corporation Ltd sales was Rs 1,846 Cr (+33.2% vs Jun 2025) and net profit was Rs 206 Cr.

What is the 52-week high and low of Minda Corporation Ltd?

The 52-week high is Rs 769.00 and the 52-week low is Rs 468.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03