Minda Corporation reports its highest quarterly revenue of Rs. 1,290 crore, driven by expanding EV offerings and a new technology licensing agreement.
13 Nov 2024 | 2672 Views | By Autocar Professional Bureau
Minda Corporation Limited, a leading automotive component manufacturer and the flagship company of Spark Minda, released its financial results for Q2 and H1 FY25, recording its highest-ever quarterly consolidated revenue of Rs. 1,290 crore, representing an 8% year-on-year growth. The company also achieved an EBITDA of Rs. 147 crore with ...
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Minda Corporation Limited, a leading automotive component manufacturer and the flagship company of Spark Minda, released its financial results for Q2 and H1 FY25, recording its highest-ever quarterly consolidated revenue of Rs. 1,290 crore, representing an 8% year-on-year growth. The company also achieved an EBITDA of Rs. 147 crore with an 11.4% margin, a 38 basis point increase year-over-year, and a profit after tax (PAT) of Rs. 74 crore, marking a 26.5% rise with a margin of 5.8%. This growth is attributed to Minda Corp’s expanding product range, premiumisation focus, and growing customer base.
During the quarter, Minda Corp signed a Technology Licensing Agreement with SANCO, a China-based firm, to advance Electrical Distribution Systems (EDS) solutions within its electric vehicle (EV) product line. This partnership aims to localise production of key components, such as EV connectors, charging gun assemblies, bus bars, and distribution units, to support India's electric mobility sector.
In the first half of FY25, Minda Corp secured lifetime orders totaling over Rs. 4,750 crore, with EV-related products making up over 25% of new orders. The company also received several strategic orders across both internal combustion engine (ICE) and EV segments, highlighting its diversification into new technologies.
Minda Corp recently expanded production capacity at its Die Casting and Instrument Cluster facilities in Pune and Greater Noida by installing advanced machinery, which will enhance manufacturing output to meet rising demand.
Minda Corporation’s Chairman and Group CEO, Mr. Ashok Minda, remarked on the company’s progress, emphasising its commitment to innovation and operational efficiency to meet evolving customer needs and reinforce its market presence.