Minda Corp net profit rises 68 per cent to Rs 143 crore
The auto component manufacturer saw revenue grow by 42.6 per cent during the second quarter of the current financial year.
Minda Corporation Ltd recorded a 68.2 per cent year-on-year rise in consolidated net profit to Rs 143 crore in the July-September quarter of FY27, according to the Economic Times. This follows a net profit of Rs 85 crore during the same period last year.
Revenue from operations for the company climbed 42.6 per cent to reach Rs 2,189 crore. The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 44.7 per cent to Rs 257 crore, while the EBITDA margin improved to 11.8 per cent.
Shares of the company closed 4.12 per cent higher at Rs 685 on the BSE on Tuesday, November 3, after the results were announced during market hours. The stock reached an intra-day high of Rs 714.50 following the announcement.
Chairman and Group CEO Ashok Minda said the results reflected progress in the company's long-term growth strategy due to demand in key vehicle segments. He noted that electric vehicle-related products made up about 35 per cent of new order wins during the quarter.
Minda Corporation manufactures various auto parts, including sensors, motors, and EV powertrains. The company stated it will continue to invest in research and development, localisation, and manufacturing to meet customer requirements and increase its presence in electronics and EV systems.