Minda (MINDACORP) Q4 25/26 earnings summary

Executive summary

• Achieved record consolidated revenue of INR 6,185 crore for FY26, up 22.3% YoY, and quarterly revenue of INR 1,704 crore, up 29% YoY, surpassing consensus estimates.

• EBITDA for FY26 reached INR 721 crore (margin 11.7%), with Q4 EBITDA at INR 203 crore (margin 11.9%), both up year-over-year.

• PAT for FY26 was INR 358 crore (margin 5.8%), a 40.3% YoY increase; Q4 PAT was INR 124 crore (margin 7.3%).

• Growth driven by strong performance across all vehicle segments, premiumization, new product launches, and strategic partnerships.

• Lifetime order book reached over INR 10,000 crore, with 20% from exports.

Financial highlights

• Q4 FY26 revenue: INR 1,704 crore, up 29% YoY; EBITDA: INR 203 crore, up 33% YoY; EBITDA margin: 11.9%.

• FY26 EBITDA increased 25.5% to INR 721 crore; EBITDA margin at 11.7%.

• PAT for Q4 FY26 was INR 124 crore, up 138% YoY; PAT margin improved to 7.3%.

• Board recommended a final dividend of INR 0.80 per share, total dividend for FY26 at INR 1.40 per share (70% of face value).

• Flash Electronics (associate): FY26 revenue INR 1,803 crore, EBITDA INR 310 crore, margin 17.2%.

Outlook and guidance

• Targeting revenue growth at least 50% higher than industry growth; aiming for 15%+ if industry grows at 10%.

• Long-term vision to reach INR 17,500 crore revenue and 12.5% EBITDA margin by FY 2030.

• FY27 CapEx expected at INR 400–450 crore.

• Continued investment in R&D, new product categories, and strategic partnerships.

• Management remains focused on operational efficiency, R&D, and technology partnerships to sustain growth.