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%).

• Secured multiple new orders, expanding the lifetime order book to over INR 10,000 crore.

• Formed strategic joint ventures with Toyodenso (Japan) and Turntide Technologies (UK) to enhance technology and EV offerings.

Financial highlights

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

• FY26 EBITDA increased 25.5% to INR 721 crore; PAT for FY26 was INR 358 crore, up 40.3% YoY; PAT for Q4 FY26 was INR 124 crore, up 138% YoY.

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

• 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).

• Earnings per share (basic) for FY26: INR 15.31.

Outlook and guidance

• Aims to grow at least 50% faster than industry growth; targeting 15%+ annual revenue growth if industry grows at 10%.

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

• FY27 CapEx expected at INR 400–450 crore.

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

• Cautions on forward-looking statements due to macroeconomic, regulatory, and competitive uncertainties.