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Minda Corp Eyes Expansion Amidst Rising Costs
25 May
Summary
- Minda Corp expects minimal balance sheet impact from rising input costs.
- New joint venture with Toyodenso set to begin production by fiscal year-end.
- Company aims to triple export revenue to ₹1,500 crore by 2030.
Minda Corporation, an auto component maker, foresees limited balance sheet repercussions from escalating input costs, as most increases are passed on to OEMs. The company is pursuing strategic partnerships and operational expansion to bolster its long-term outlook.
The joint venture with Toyodenso is progressing as planned, with production slated to commence towards the end of the current financial year, followed by a gradual scale-up. This venture is expected to significantly contribute to revenue over the medium term.
Looking towards 2030, Minda Corporation has outlined an ambitious growth strategy. This includes increasing the contribution from passenger vehicles, expanding exports, and exploring potential acquisitions. The company reported ₹1,704 crore in revenue and ₹125 crore in net profit for the January-March quarter (Q4FY26).
Exports, currently contributing about 10% of the business, are targeted to grow from ₹500-550 crore to approximately ₹1,500 crore by 2030. The Toyodenso joint venture aims for ₹600-700 crore in revenue by 2030. Minda Corporation also consolidated results from the Minda VAST joint venture, adding ₹500-600 crore to its topline and targeting 8-9% EBITDA margins for that business.
Passenger vehicles currently represent 14-15% of revenue. With the Minda VAST consolidation and pipeline products, the company aims for a 25% contribution from passenger vehicles by 2030.
