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Minda Corporation Limited (NSE: MINDACORP, BSE: 538962), the flagship company of Spark Minda, has announced its financial results for the second quarter and half-year ended December 31, 2024, showcasing strong growth and strategic advancements.
The company reported consolidated quarterly revenue of Rs. 1,253 crore, reflecting a 7.4% year-on-year (YoY) increase. It achieved a record EBITDA of Rs. 144 crore, with its highest-ever EBITDA margin of 11.5%, marking a 32 basis point YoY improvement. The Profit Before Tax (PBT) stood at Rs. 90 crore, with a 7.2% margin, an increase of 67 basis points YoY, while Profit After Tax (PAT) rose to Rs. 65 crore, up 23.5% YoY, with a 5.1% margin.
In a significant strategic move, Minda Corporation has formed a partnership with Flash Electronics to develop India's fastest-growing electric vehicle (EV) platform. As part of the collaboration, Minda Corp. has acquired a 49% equity stake in Flash Electronics. This partnership leverages Minda Corporation’s expertise in automotive body electronics and Flash Electronics’ specialisation in automotive engine and powertrain electronics, enabling both companies to expand and diversify their product portfolio.
Commenting on the results, Mr. Ashok Minda, Chairman and Group CEO, stated, “Spark Minda is navigating a dynamic industry landscape with a firm commitment to building a sustainable, future-ready business. By strengthening our foundation and accelerating investments in cutting-edge technology, we are driving innovation and operational excellence. This strategic approach enables us to adapt to industry shifts while delivering lasting value to our customers and stakeholders. With a clear growth roadmap, we continue to enhance efficiency, expand capabilities, and ensure long-term success.”
In a move to reward shareholders, the Board of Directors has recommended an interim dividend of 25% on the face value, equivalent to Rs. 0.50 per equity share.
Minda Corporation continues to position itself at the forefront of India’s evolving automotive landscape, with a strong financial foundation and a forward-looking approach to innovation and expansion in the EV sector.
