Minda (MINDACORP) Q3 24/25 earnings summary

Executive summary

• Consolidated Q3 FY25 revenue reached INR 1,253 crores (₹1,25,256 lakhs), up 7.4% year-on-year, with 9M FY25 revenue at INR 3,735 crores (₹3,73,496 lakhs), up 9% year-on-year.

• Q3 FY25 net profit was INR 65 crores (₹6,480 lakhs), up 23.5% year-on-year; 9M net profit was INR 203 crores (₹20,334 lakhs), up 30% year-on-year.

• Highest-ever EBITDA margin at 11.5% for Q3, reflecting operational excellence and premiumization.

• Strategic partnership with Flash Electronics completed, acquiring a 49% stake to strengthen EV platform offerings.

• Interim dividend of 25% on face value (₹0.50 per share), totaling ₹1,195.4 lakhs for FY25.

Financial highlights

• Q3 FY25 EBITDA at INR 144 crores, up 10.5% year-on-year; EBITDA margin at 11.5%, up 32 bps.

• Q3 PAT at INR 65 crores, up 23.5% year-on-year; PAT margin at 5.1%-5.2%, up 64 bps.

• 9M FY25 EBITDA at INR 422 crores, up 12%; PAT at INR 203 crores, up 30% year-on-year.

• Basic EPS for Q3 FY25 was ₹2.75, up from ₹2.23 in Q3 FY24; 9M EPS was ₹8.64, up from ₹6.65.

• Board recommended an interim dividend of 25% on face value.

Outlook and guidance

• Targeting growth at 1.5x the industry rate, with industry expected to grow 6-7% in FY26.

• Management focuses on growth in automobile components, leveraging new JVs and acquisitions.

• Commercial vehicle segment expected to see single-digit growth in coming quarters.

• Exports targeted to rise from current 8-10% of revenue to 15% mid- to long-term.

• Flash Electronics expected to maintain 17-18% growth, with synergies to drive further gains.