Minda (MINDACORP) Q3 25/26 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue of INR 1,560 crore in Q3 FY26, up 25% year-over-year, with 9M FY26 revenue at INR 4,482 crore, up 20% year-over-year.

• EBITDA margin improved to 11.8% in Q3 FY26; PAT reached INR 88 crore, PAT margin 5.4%.

• Board recommended an interim dividend of 30% (INR 0.60 per share), with payment by March 6, 2026.

• Multiple large lifetime orders secured, including INR 1,000 crore for switches and INR 350 crore for sunroofs; total order book exceeded INR 7,000 crore.

• Strategic partnerships expanded, including with Toyodenso and Flash Electronics; key management appointments and ESOP scheme approved.

Financial highlights

• Q3 FY26 revenue: INR 1,560 crore (+25% YoY); 9M FY26 revenue: INR 4,482 crore (+20% YoY).

• Q3 FY26 EBITDA: INR 184 crore (margin 11.8%); 9M FY26 EBITDA: INR 518 crore (margin 11.6%).

• Q3 FY26 PAT: INR 88 crore (+36% YoY); 9M FY26 PAT: INR 238 crore (+17% YoY).

• Earnings per share (consolidated, basic): Rs. 3.64 for the quarter, up from Rs. 2.75 year-over-year.

• Lifetime order book for Q3 at INR 2,000 crore; nine-month period at INR 7,000 crore.

Outlook and guidance

• Planned capital expenditure of INR 2,000 crore over the next 5 years to support expansion, including new manufacturing facilities.

• Commercial vehicle segment expected to continue growth, supported by regulatory changes and infrastructure upgrades.

• Focus on new product launches, export growth, and premiumization of existing products.

• Export revenue goal of INR 1,500 crore by 2030.

• Board continues to monitor regulatory changes, especially new Labour Codes.