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Minda Corporation (MINDACORP) investor relations material
Minda Corporation Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly revenue of INR 1,535 crore in Q2 FY26, up 19% year-over-year, and H1 FY26 revenue of INR 2,921 crore, up 18% year-over-year, with EBITDA of INR 178 crore (margin 11.6%) and PAT of INR 85 crore (margin 5.5%), both showing year-over-year improvement.
Outperformed industry growth across key segments, especially in wiring harness, instrument clusters, and information & connected systems, with 26% year-over-year growth in the latter.
Secured significant new orders, including first sunroof order, high-voltage EV wiring harness for passenger vehicles, and strategic partnership with Toyodenso for advanced switches.
Flash Electronics, associate company, delivered Q2 revenue of INR 446 crore and EBITDA margin of 16.1%.
Lifetime order book exceeded INR 3,600 crore for H1 FY26, with 15% from exports.
Financial highlights
Q2 FY26 revenue grew 19% year-over-year to INR 1,535 crore; H1 FY26 revenue up 18% to INR 2,921 crore.
Q2 FY26 EBITDA rose 21% year-over-year to INR 178 crore (margin 11.6%); H1 FY26 EBITDA up 20% to INR 334 crore (margin 11.4%).
Q2 FY26 PAT increased 14% year-over-year to INR 85 crore (margin 5.5%); H1 FY26 PAT up 8% to INR 150 crore.
Flash Electronics Q2 revenue at INR 446 crore, EBITDA margin 16.1%, PAT margin 6.8%.
Consolidated Q2 FY26 EPS: INR 3.60 (basic), INR 3.54 (diluted).
Outlook and guidance
Targeting 20%-25% year-on-year revenue growth to meet Vision 2030 goals, with EBITDA margin guidance set at greater than 12.5% across business verticals.
Passenger vehicle revenue share expected to rise from 15% to 25% by 2030.
Entering H2 FY26 with positive momentum, supported by festive demand, stable macroeconomic conditions, and GST reforms.
Planned capital expenditure of INR 2,000 crore over the next 4-5 years to expand manufacturing and support growth.
Focus remains on expanding product portfolio, R&D investment, and strategic partnerships, especially in the EV segment.
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