Minda Corp Q2 FY2025 Earnings: 25% PAT Growth, Expands EV Portfolio & Capacity

Minda Corporation, a leading auto parts manufacturer, reported a 25.42% increase in consolidated Profit After Tax (PAT) to ₹74 crore for the second quarter ended September 30, 2024. This growth was driven by an expanding customer base and the premiumisation of its products. In comparison, the company had reported a PAT of ₹59 crore for the same quarter last year.

Revenue and EBITDA Performance

The company achieved consolidated revenue of ₹1,290 crore, up 7.9% from ₹1,196 crore in the same period last year. Additionally, Minda Corporation posted its highest-ever quarterly EBITDA at ₹147 crore, with an 11.4% margin, reflecting a 38 basis point increase year-on-year.

Strategic Growth and Expansion

Ashok Minda, Chairman and Group CEO, highlighted the strong growth momentum in Q2 FY2025, emphasising the resilience of the company’s business model and its strategic initiatives. He mentioned that Minda Corporation remains focused on innovation, expanding its product range, and improving cost efficiencies and operational agility.

New Technology Licensing Agreement

During the quarter, Minda Corporation signed a Technology Licensing Agreement with SANCO (China) to develop advanced Electrical Distribution Systems locally. This partnership will strengthen Minda’s electric vehicle (EV) product offerings, including components like EV connecting systems, charging gun assemblies, bus bars, and power distribution units.

Capacity Expansion Plans

The company has also been expanding its capacity at its die-casting and instrument cluster plants located in Pune and Greater Noida. Both facilities have been upgraded with advanced equipment to improve production capabilities.

About Minda Corporation Ltd

Minda Corporation Ltd is a leading automotive component manufacturer in India, with a wide presence nationwide and internationally. It is the flagship company of Spark Minda, which was once part of the Minda Group. The company was created in 2012 after the Minda brothers’ businesses were split. NK Minda manages Minda Industries Ltd., while Ashok Minda owns and operates Minda Corporation Ltd. Both companies are publicly listed.

On November 13, 2024, Minda Corporation share price opened at ₹501.00, touching the day’s low of ₹484.55 as of 10:28 AM on NSE.

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