Minda Corporation Achieves 22.3% Revenue Growth in FY26; Deepens Focus on EV and Strategic JVs

Minda Corporation Achieves 22.3% Revenue Growth in FY26; Deepens Focus on EV and Strategic JVs​

Minda Corporation Limited announced its strong financial and operational performance for the fiscal year 2026, reporting a Revenue from Operations of 6,185 Cr. for FY26, marking a substantial growth rate of 22.3% year over year. The company also highlighted significant strategic expansions, including joint ventures with global players, to strengthen its position in the electric vehicle (EV) ecosystem and the broader automotive supply chain.

Financial Performance Highlights for FY26​

The company's financial results show robust growth across the fiscal year. During the fourth quarter of FY26, Minda Corporation recorded a Revenue of 1,704 crore, representing a 29% year over year growth. The EBITDA margin for Q4 FY26 stood at 11.9%, an increase of 37 Basis Points (Bps) year over year.

Overall for FY26, the consolidated financial metrics were:


The historical data confirms a consistent upward trend, with the company achieving a Revenue CAGR of 20%.

Strategic Partnerships Fueling Future Growth​

Minda Corporation is aggressively expanding its presence through joint ventures (JVs) designed to bolster its capabilities in advanced technologies.

Joint Venture with Toyodenso:
The company formed a joint venture with Toyodenso, a global leader in developing and manufacturing electromechanical switches and sensors. This partnership is set to provide Minda with access to advanced switch technology and a broader product range. The JV has already secured a large order from a leading two-wheeler Original Equipment Manufacturer (OEM). Initially, the total investment for this venture is around 150 Crores, with the revenue generated being consolidated into Minda Corporation's financials.

Joint Venture with Turntide:
A joint venture was established with Turntide on March 9, 2026. This collaboration combines Turntide's proven global technology with Minda Corporation’s strong local execution expertise. The JV aims to deliver premium, localized solutions for the EV ecosystem, thereby strengthening the domestic supply chain and supporting the 'Make in India' vision.

Global Footprint and Operational Strength​

Minda Corporation maintains a significant global operational presence, operating strategically located plants and offices across India, ASEAN, Japan, and Europe. The company boasts 42 manufacturing plants and a workforce of over 23,000.

The core capabilities include:

• Engineering Focus: The group maintains 7 Engineering Centers and 2 Advanced Tech Centres.
• Innovation: The company has filed over 330 patents and continues to invest 3-4% of its revenue in R&D.
• Product Diversification: Minda provides comprehensive solutions for two-wheelers, four-wheelers, and commercial vehicles, spanning advanced segments like Vehicle Access, Intelligent & Smart systems, and lightweight plastics.

Indian Auto Industry Outlook​

The company’s performance aligns with the strong growth trajectory observed in the Indian automotive sector during FY26. Key industry highlights included:

• 2-Wheelers (2Ws): Achieved record volumes, supported by strong export momentum, GST reforms, and rising EV adoption.
• Passenger Vehicles (PVs): Sustained growth driven by favorable macroeconomic conditions, premiumization trends, and rising contributions from EVs and exports.
• Commercial Vehicles (CVs): Showed strong demand supported by economic activity, infrastructure spending, and improved fleet utilization.

Corporate Responsibility and Governance​

Minda Corporation continues to emphasize sustainability and social governance. The company recorded a Free Cash Flow of Rs. 112 Crores for FY26 and maintained an ROCE of 27.7%. In terms of governance, Minda Corporation has received the Bronze Safety Champion Award under the MSIL Safety Cluster and is processing its BRSR Core Assurance. Furthermore, the organization has dedicated itself to inclusive growth, employing over 900 persons with disabilities across the Group.

MINDACORP Stock Price Movement​

Today, Minda Corporation Limited shares edged higher, settling at ₹574.65 after gaining 7.67% for the session. The stock saw significant trading activity, completing the day on a volume of 3.25 million shares.