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Tue, 29 Sept 2026
09:34:02 pm
Tue, 29 Sept 2026
09:34:02 pm
Synopsis
Auto component stock rises nearly 5% as Q1 FY27 revenue jumps 33.2% and profit surges, while a ₹106 crore exceptional gain draws investor attention.
An auto component stock rose nearly 5% in early trade on August 14, reaching around ₹747 after a strong June 2026 quarter. The company reported consolidated revenue growth of 33.2% year on year to ₹1,846 crore, while profit attributable to owners jumped to ₹206 crore from ₹65 crore a year earlier. The stock has traded between ₹468 and ₹769 over the past 52 weeks and has delivered a 51.56% return over one year. The latest results have therefore brought both earnings growth and the quality of that profit into focus.
The operating numbers were also positive, with operating profit rising to ₹212 crore from ₹156 crore and the operating margin remaining around 11%. However, the June quarter profit included a ₹106-crore exceptional gain, net of tax, related to the consolidation of Minda VAST. That means the headline profit growth needs to be viewed separately from the underlying operating performance. TTM sales stand at ₹6,646 crore, while TTM operating profit is ₹776 crore and TTM net profit is ₹499 crore. The stock trades at a P/E of 44.3 and a price-to-book multiple of about 6.88 times.
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The stock was trading at ₹747 in the supplied market data, up 4.85% during the session. It is close to its 52-week high of ₹769 and well above its 52-week low of ₹468. The stock has gained 51.56% over one year and 462.96% over five years, while its 10-year price CAGR stands at 21%. The valuation remains high relative to book value, with a P/E of 44.3 and book value of ₹110. ROCE is 12.7% and ROE is 14.7%.
| Metric | Value |
|---|---|
| Current Price | ₹747 |
| 52 Week High | ₹769 |
| 52 Week Low | ₹468 |
| Market Cap | ₹17,863 crore |
| P/E | 44.3 |
| Book Value | ₹110 |
| Price to Book | 6.88x |
| Dividend Yield | 0.20% |
| ROCE | 12.7% |
| ROE | 14.7% |
June 2026 revenue increased to ₹1,846 crore from ₹1,386 crore in the year-ago quarter, while operating profit rose to ₹212 crore from ₹156 crore. Operating margin was 11%, broadly similar to 11% in June 2025. Profit before tax increased sharply to ₹237 crore from ₹71 crore, while net profit attributable to owners reached ₹206 crore compared with ₹65 crore. EPS rose to ₹8.62 from ₹2.73. The profit increase was helped by the ₹106-crore exceptional gain linked to the consolidation of Minda VAST, so the reported PAT growth is higher than the improvement in operating profit.
| Metric | Jun 2026 | Jun 2025 | YoY Change |
|---|---|---|---|
| Sales | ₹1,846 crore | ₹1,386 crore | 33.22% |
| Operating Profit | ₹212 crore | ₹156 crore | 35.90% |
| OPM | 11% | 11% | Stable |
| Profit Before Tax | ₹237 crore | ₹71 crore | 233.80% |
| Net Profit | ₹206 crore | ₹65 crore | 216.92% |
| EPS | ₹8.62 | ₹2.73 | 215.75% |
| Exceptional Gain | ₹106 crore | - | - |
On a sequential basis, revenue increased 8.4% from ₹1,704 crore in March 2026, while profit attributable to owners increased 66.3% from ₹124 crore. During the quarter, ₹63 crore was invested in group companies, including Spark Minda Green Mobility Systems, Minda HCMF Technologies and Spark Minda-Toyodenso India. The company also began consolidating Minda VAST from the June 2026 quarter.
The long-term numbers show steady sales expansion and faster profit growth. Sales increased from ₹1,965 crore in March 2015 to ₹6,185 crore in March 2026 and ₹6,646 crore on a TTM basis. Operating profit rose from ₹188 crore to ₹722 crore over the same period, while TTM operating profit stands at ₹776 crore. Net profit increased from ₹88 crore in March 2015 to ₹358 crore in March 2026 and ₹499 crore on a TTM basis. Five-year sales growth stands at 21% CAGR, while profit has grown at 31% CAGR during the same period.
| Financial Metric | Mar 2015 | Mar 2026 | TTM |
|---|---|---|---|
| Sales | ₹1,965 crore | ₹6,185 crore | ₹6,646 crore |
| Operating Profit | ₹188 crore | ₹722 crore | ₹776 crore |
| Operating Margin | 10% | 12% | 12% |
| Profit Before Tax | ₹111 crore | ₹384 crore | ₹550 crore |
| Net Profit | ₹88 crore | ₹358 crore | ₹499 crore |
| EPS | ₹4.28 | ₹15.07 | ₹20.95 |
Sales have grown at 10% CAGR over 10 years, 21% over five years and 13% over three years. Profit growth stands at 14% over 10 years, 31% over five years and 8% over three years. TTM profit growth is reported at 57%. ROE has remained around the mid-teens, with the latest figure at 15% compared with 14% over five years.
The stock trades at a P/E of 44.3 and a price-to-book multiple of 6.88 times, while the dividend yield is only 0.20%. ROCE stands at 12.7% and ROE at 14.7%. The valuation leaves a higher earnings expectation embedded in the share price compared with the company's current return ratios. Investors will therefore need to watch revenue growth, operating margins and the contribution from new businesses as the company expands its product portfolio and technology capabilities. The reported June profit should also be assessed after separating the ₹106-crore exceptional gain from recurring operating earnings.
The main concern from the latest quarter is the impact of the exceptional gain on reported profit. The operating margin remained at 11%, meaning the sharp rise in PAT was not driven entirely by operating performance. The stock is also trading at a substantial premium to its book value, while ROCE and ROE are lower than the P/E multiple might suggest. Slower vehicle demand, execution issues in new businesses and pressure on operating margins could affect future earnings.
The June 2026 results show strong revenue growth and a 35.4% rise in operating profit, while the stock has continued to deliver strong returns over longer periods. At the same time, the ₹106-crore exceptional gain contributed materially to the reported quarterly PAT increase. The next results will therefore be important for assessing how much of the recent earnings improvement is coming from the underlying business. Revenue growth, operating margin and the performance of newer mobility-related businesses will remain areas to watch.
Minda Corporation Ltd is an automotive component manufacturing company with a pan-India presence and an international footprint. It is the flagship company of Spark Minda and operates across areas including Electrical Distribution Systems, wiring harnesses and connectors. Its products include EV high-voltage wiring harnesses, connectors, busbars, CCS wires and EV power distribution and battery disconnect units. The company is part of the Auto Components and Equipment segment and is included in the Nifty 500 and BSE 500 indices.
Minda Corporation shares were trading at around ₹747 on August 14, 2026, based on the supplied market data. The stock's 52-week range is ₹468 to ₹769.
The stock gained nearly 5% in the supplied market snapshot after the company reported strong June 2026 quarterly numbers. Revenue increased 33.2% year on year, while reported net profit rose sharply. However, the quarterly profit included a ₹106-crore exceptional gain linked to the consolidation of Minda VAST.
Consolidated revenue from operations increased to ₹1,846 crore in June 2026 from ₹1,386 crore in June 2025, representing 33.2% year-on-year growth.
Net profit attributable to owners increased to ₹206 crore in June 2026 from ₹65 crore in the year-ago quarter. The quarter included a ₹106-crore exceptional gain, net of tax.
The supplied market data shows a P/E ratio of 44.3 for Minda Corporation.
Minda Corporation's 52-week high is ₹769, while its 52-week low is ₹468, based on the supplied data.
Yes. The company reported ₹499 crore in TTM net profit, compared with ₹358 crore in March 2026. Its TTM operating profit stands at ₹776 crore.
Investors should watch the sustainability of earnings growth, operating margins and the impact of exceptional gains on reported profit. The stock also trades at about 6.88 times book value, while ROCE is 12.7% and ROE is 14.7%.
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