Minda (MINDACORP) Q4 24/25 earnings summary

Executive summary

• Achieved highest-ever consolidated revenue of INR 5,056 crores in FY25, up 9% year-over-year, and Q4 revenue of INR 1,321 crores, up 9% year-over-year.

• EBITDA reached INR 575 crores for FY25 (margin 11.4%), with Q4 EBITDA at INR 153 crores (margin 11.6%).

• PAT for FY25 was INR 255 crores, up 12.5% year-over-year, with a net margin of 5%.

• Strategic acquisition of a 49% stake in Flash Electronics to expand presence in powertrain and EV components.

• Board recommended a final dividend of 45% on face value, totaling 70% for the year, or ₹1.40 per share.

Financial highlights

• Q4 FY25: Revenue INR 1,321 crores (+8.7% YoY), EBITDA INR 153 crores (+10.3% YoY), PAT INR 52 crores (-26.5% YoY).

• Full-year revenue increased from INR 4,651 crores to INR 5,056 crores; EBITDA rose from INR 514 crores to INR 575 crores, margin up 31 bps to 11.4%.

• PAT margin for Q4 at 3.9% and for FY25 at 5.0%.

• Standalone PAT for FY25 was INR 205.9 crores, up from INR 188.5 crores in FY24.

• Booked lifetime orders exceeding INR 8,000 crores, with 25% from EV platforms; EV sales contributed 8% of Q4 revenue and 7% for the full year.

Outlook and guidance

• Focus on executing strategic priorities, enhancing system solutions, and investing in new technologies.

• CapEx planned at INR 250–350 crores for standalone business and INR 50–100 crores for Flash Electronics over the next 1–2 years.

• Targeting increased localization in wiring harness connectors to 20–25% over 18–24 months.

• Flash Electronics expected to maintain mid- to high double-digit revenue growth, driven by EV penetration.

• Strategic investments and operational excellence to drive future performance.