Q1 2026 Minda Corporation Ltd Earnings Call Transcript
Key Points
- Minda Corp Ltd (BOM:538962) achieved its highest ever quarterly revenue of INR 1,386 crores, marking a 16% year-on-year growth.
- The company reported its highest ever EBITDA of INR 156 crores, with a growth of 19% year-on-year and an EBITDA margin of 11.3%.
- Minda Corp Ltd's wiring harness division expanded its market presence by securing significant orders from both domestic and export markets.
- The company has a strong order book exceeding INR 1,300 crores, with over 30% of new orders coming from new energy vehicles.
- Minda Corp Ltd entered into a joint venture with Toyo Denso Corporation Limited of Japan, aimed at developing advanced automotive switches and control systems.
- The two-wheeler industry witnessed soft growth in production volumes, reflecting ongoing pressure in the sector.
- Profit before tax was impacted by higher financial costs due to investments and strategic partnerships, resulting in a PBT margin of 5.1%.
- The commercial vehicle segment remained largely flat with modest growth, indicating challenges in this area.
- ASEAN markets, particularly Indonesia and Vietnam, showed flat growth, posing challenges for expansion in these regions.
- The company faces challenges in the supply chain, particularly with rare earth magnets, which could impact future growth.
Ladies and gentlemen, good day and welcome to Q1 FY26 investor conference call from Minda Corporation Limited, hosted by Mirae Asset Capital Markets. (Operator Instructions) Please note that this conference is being recorded.
And I have the conference over to Mr. Kripashankar Maurya. Thank you and over to you, sir.
Thank you, Avira. Good evening everyone. On behalf of Mirae Asset Capital, I would like to welcome you all to Q1 FY26 conference call of Minda Corporation Limited.
Today we have with us from the management team, Mr. Aakash Minda, Executive Director; Mr. Vinod Raheja, Group CFO; Mr. Ajay Agarwal, President, Finance & Strategy; and Mr. [Nitin Jalan], leading Investor Relation. I would like to thank management for giving us the opportunity. I will now hand over call to the management for your opening remark, post which we will open the door for the Q&A. Over to you, sir.
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