Minda Corporation Ltd

- No specific mention of any current or planned new fundraising through debt or equity was disclosed in the latest earnings call. - The company has been actively repaying debt, having paid about INR 70 crores during the first nine months of FY26. - Promoters infused around INR 104 crores via share warrants during FY26, primarily utilized for debt repayment. - The management broadly discussed disciplined capital allocation and significant capex plans (INR 2,000 crores by 2030) but did not mention raising fresh funds via debt or equity. - For further details, the management advised reaching out to their Investor Relations team.

- 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. - Long-term, Minda plans to invest a total of INR 1,500 to 2,000 crores by 2030 to triple revenue, focusing on premiumization, new business, exports, and new product launches. - Strategic investments include R&D (~4% of revenue) in new products, backward integration, localization, and technology capabilities enhancement.

- 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). - Overall company aims to triple revenues by 2030 supported by INR 2,000 crores capex, focusing on premiumization, new products, exports, and strategic partnerships (Page 10). - Recent revenue growth: 25% YoY in Q3 FY26; 9M revenue grew 20% YoY, led by strong demand and premium/electric vehicle products (Pages 6, 5).

- 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. - EBITDA margin is stable around 11.5% to 11.8%, with efforts ongoing to expand margins further via operational excellence and localization. - Export orders are returning to normal after 6-8 quarters, expected to grow with new SOPs and ramp-ups, targeting export revenue growth from ~INR 500 crores to INR 1,500 crores by 2030. - Lifetime order book stands at INR 7,000 crores, providing strong revenue visibility. - Strategic investments and capex of INR 400 crores per year aiming to triple revenue by 2030, with target ROCE improvement from 22% to 25%. - EPS growth supported by improved operational efficiency, favorable product mix, and strategic partnerships, though specific EPS projections are not stated. - Company remains confident on both near- and long-term growth trajectories.

- 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. - Export orders have returned to normalcy after 6-8 quarters of subdued activity, expected to grow with new SOPs and ramp-ups. - Long-term export vision: increase export revenue from INR 500 crores to INR 1,500 crores by 2030.