Minda Corporation Ltd
Minda Corporation Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Export orders from Minda Corporation have normalized after 6-8 quarters, expected growth in Q4 FY26 and FY27 with new SOPs and existing business ramp-up (Page 17). Revenue growth is strong with 25% YoY growth in Q3 FY26 and 20% in 9M FY26, driven by new product launches, increased share per vehicle, and EV & premium segments.
From Minda Corporation Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Export orders from Minda Corporation have normalized after 6-8 quarters, expected growth in Q4 FY26 and FY27 with new SOPs and existing business ramp-up (Page 17).
- Long-term export revenue target is to grow from ~INR 500 crores currently to INR 1,500 crores by 2030 (Page 17).
- Commercial vehicle segment, which contributes ~30% of revenue, is expected to continue growth into FY27 driven by regulation changes, infrastructure upgrades, and rising trade (Page 8).
- New large orders for switches and sunroofs starting SOP in FY27 and FY28, respective lifetime orders with a ramp-up of about 2 years (Page 8).
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Profitability & Margins
See what Minda Corporation Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Minda Corporation has committed to a capex plan of around INR 400 crores for FY26, having already spent about INR 276 crores in the first nine months, with another INR 100 crores planned for the upcoming quarter.
- Aakash Minda mentioned a new plant for switches expected to be ready by Q4 FY27, with SOP starting in Q1/Q2 FY28, followed by a ramp-up phase over a year.
- Investment continues in capacity expansion, for example, at Flash Electronics, which is starting investment in a new plant to be ready in 3-4 months due to full capacity at existing facilities.
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Top-ranked in Auto Components
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Lifetime order book stands at INR 2,000 crores with multiple orders across product categories.
- For the 9 months ended FY26, lifetime order book recorded at INR 7,000 crores.
- Switches business: INR 1,000 crores lifetime order, SOP expected to start Q2 FY28, with a ramp-up over approximately two years.
- Sunroof business: INR 350 crores lifetime order, SOP expected to start Q1 FY27, with ramp-up over next few quarters.
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Minda Corporation Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.7K Cr, net profit ₹124 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Minda Corporation Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call →
- Q1 FY26 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Minda Corporation Ltd Q3 FY26 results?
Export orders from Minda Corporation have normalized after 6-8 quarters, expected growth in Q4 FY26 and FY27 with new SOPs and existing business ramp-up (Page 17). Revenue growth is strong with 25% YoY growth in Q3 FY26 and 20% in 9M FY26, driven by new product launches, increased share per vehicle, and EV & premium segments.
What is Minda Corporation Ltd share price analysis?
Minda Corporation Ltd currently shows a neutral. The stock trades at a P/E of 48.6 with a market cap of ₹17,285 Cr. Investors should review the full earnings analysis for detailed insights.
Is Minda Corporation Ltd planning capital expenditure?
Minda Corporation has committed to a capex plan of around INR 400 crores for FY26, having already spent about INR 276 crores in the first nine months, with another INR 100 crores planned for the upcoming quarter.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.