Price Target Changed • 22h
Price target increased by 7.7% to ₹794 Up from ₹737, the current price target is an average from 8 analysts. New target price is 9.5% above last closing price of ₹725. Stock is up 42% over the past year. The company is forecast to post earnings per share of ₹17.93 for next year compared to ₹15.31 last year. New Risk • Aug 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Large one-off items impacting financial results. Upcoming Dividend • Aug 07
Upcoming dividend of ₹0.80 per share Eligible shareholders must have bought the stock before 14 August 2026. Payment date: 18 September 2026. Payout ratio is a comfortable 9.1% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.5%). Reported Earnings • Jul 30
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹15.31 (up from ₹10.85 in FY 2025). Revenue: ₹61.9b (up 22% from FY 2025). Net income: ₹3.60b (up 41% from FY 2025). Profit margin: 5.8% (up from 5.1% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jun 09
Price target increased by 7.4% to ₹732 Up from ₹682, the current price target is an average from 8 analysts. New target price is 13% above last closing price of ₹647. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₹17.73 for next year compared to ₹15.31 last year. Declared Dividend • May 25
Final dividend of ₹0.80 announced Shareholders will receive a dividend of ₹0.80. Ex-date: 14th August 2026 Payment date: 21st August 2026 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 73% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 23
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹15.31 (up from ₹10.85 in FY 2025). Revenue: ₹62.0b (up 23% from FY 2025). Net income: ₹3.60b (up 41% from FY 2025). Profit margin: 5.8% (up from 5.1% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 52% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 22
Minda Corporation Limited, Annual General Meeting, Aug 21, 2026 Minda Corporation Limited, Annual General Meeting, Aug 21, 2026. Declared Dividend • Feb 07
Dividend of ₹0.60 announced Shareholders will receive a dividend of ₹0.60. Ex-date: 13th February 2026 Payment date: 6th March 2026 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 06
Third quarter 2026 earnings released: EPS: ₹3.64 (vs ₹2.75 in 3Q 2025) Third quarter 2026 results: EPS: ₹3.64 (up from ₹2.75 in 3Q 2025). Revenue: ₹15.6b (up 25% from 3Q 2025). Net income: ₹857.0m (up 32% from 3Q 2025). Profit margin: 5.5% (up from 5.2% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 08
Price target increased by 8.9% to ₹635 Up from ₹583, the current price target is an average from 5 analysts. New target price is 9.6% above last closing price of ₹580. Stock is up 14% over the past year. The company is forecast to post earnings per share of ₹12.23 for next year compared to ₹10.85 last year. Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: ₹3.60 (vs ₹3.16 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.60 (up from ₹3.16 in 2Q 2025). Revenue: ₹15.4b (up 19% from 2Q 2025). Net income: ₹846.4m (up 14% from 2Q 2025). Profit margin: 5.5% (down from 5.8% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 07
Upcoming dividend of ₹0.90 per share Eligible shareholders must have bought the stock before 14 August 2025. Payment date: 20 September 2025. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.7%). Reported Earnings • Aug 03
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹10.85 (up from ₹9.66 in FY 2024). Revenue: ₹50.6b (up 8.7% from FY 2024). Net income: ₹2.55b (up 12% from FY 2024). Profit margin: 5.1% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jun 03
Minda Corporation Limited announced that it has received INR 1.051875 billion in funding from Minda Capital Private Limited On June 2, 2025, Minda Corporation Limited closed the transaction. The transaction has been approved by the board of directors. Price Target Changed • May 30
Price target decreased by 7.8% to ₹589 Down from ₹639, the current price target is an average from 4 analysts. New target price is 13% above last closing price of ₹522. Stock is up 23% over the past year. The company is forecast to post earnings per share of ₹13.65 for next year compared to ₹10.85 last year. Declared Dividend • May 29
Final dividend of ₹0.90 announced Dividend of ₹0.90 is the same as last year. Ex-date: 14th August 2025 Payment date: 21st September 2025 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 65% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 28
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹10.85 (up from ₹9.66 in FY 2024). Revenue: ₹50.9b (up 9.4% from FY 2024). Net income: ₹2.55b (up 12% from FY 2024). Profit margin: 5.0% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 27
Minda Corporation Limited, Annual General Meeting, Aug 22, 2025 Minda Corporation Limited, Annual General Meeting, Aug 22, 2025. New Risk • Apr 25
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (₹22m sold). Recent Insider Transactions • Feb 15
Group CFO & Group Chief Risk Officer recently sold ₹2.7m worth of stock On the 12th of February, Vinod Raheja sold around 5k shares on-market at roughly ₹536 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹39m. Vinod has been a net seller over the last 12 months, reducing personal holdings by ₹7.3m. Price Target Changed • Feb 10
Price target increased by 9.9% to ₹631 Up from ₹575, the current price target is an average from 3 analysts. New target price is 13% above last closing price of ₹557. Stock is up 40% over the past year. The company is forecast to post earnings per share of ₹12.60 for next year compared to ₹9.66 last year. Declared Dividend • Feb 08
Dividend of ₹0.50 announced Shareholders will receive a dividend of ₹0.50. Ex-date: 12th February 2025 Payment date: 5th March 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹2.75 (vs ₹2.23 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.75 (up from ₹2.23 in 3Q 2024). Revenue: ₹12.6b (up 8.2% from 3Q 2024). Net income: ₹648.0m (up 24% from 3Q 2024). Profit margin: 5.1% (up from 4.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹592, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 26x in the Auto Components industry in India. Total returns to shareholders of 217% over the past three years. Annonce • Jan 15
Minda Corporation Limited (NSEI:MINDACORP) agreed to acquire 49% stake in Flash Electronics (India) Pvt. Ltd. for INR 13.7 billion. Minda Corporation Limited (NSEI:MINDACORP) agreed to acquire 49% stake in Flash Electronics (India) Pvt. Ltd. for INR 13.7 billion on January 15, 2025. A cash consideration of INR 13.72 billion will be paid by Minda Corporation Limited. As part of consideration, INR 13.72 billion is paid towards common equity of Flash Electronics (India) Pvt. Ltd.
The expected completion of the transaction is January 31, 2025. Recent Insider Transactions • Dec 10
Additional Independent Director recently sold ₹39m worth of stock On the 6th of December, Laxman Ramnarayan sold around 77k shares on-market at roughly ₹505 per share. This transaction amounted to 55% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹69m more than they bought in the last 12 months. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹3.16 (vs ₹2.50 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.16 (up from ₹2.50 in 2Q 2024). Revenue: ₹13.0b (up 8.8% from 2Q 2024). Net income: ₹743.4m (up 27% from 2Q 2024). Profit margin: 5.7% (up from 4.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹618, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 30x in the Auto Components industry in India. Total returns to shareholders of 392% over the past three years. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹633, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 30x in the Auto Components industry in India. Total returns to shareholders of 437% over the past three years. Price Target Changed • Aug 17
Price target increased by 11% to ₹527 Up from ₹476, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹518. Stock is up 64% over the past year. The company is forecast to post earnings per share of ₹13.47 for next year compared to ₹9.66 last year. Annonce • Aug 16
Minda Corporation Limited Appoints Laxman Ramnarayan as an Independent Director Minda Corporation Limited at its AGM held on August 14, 2024 appointed Mr. Laxman Ramnarayan as an Independent Director. Price Target Changed • Aug 09
Price target increased by 7.2% to ₹500 Up from ₹466, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹510. Stock is up 70% over the past year. The company is forecast to post earnings per share of ₹13.60 for next year compared to ₹9.66 last year. Upcoming Dividend • Jul 31
Upcoming dividend of ₹0.90 per share Eligible shareholders must have bought the stock before 07 August 2024. Payment date: 12 September 2024. Payout ratio is a comfortable 14% and the cash payout ratio is 88%. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.5%). Reported Earnings • Jul 26
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: ₹9.66 (down from ₹12.10 in FY 2023). Revenue: ₹46.5b (up 8.2% from FY 2023). Net income: ₹2.27b (down 20% from FY 2023). Profit margin: 4.9% (down from 6.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 21
COO & CEO of Die-Casting Division recently sold ₹5.7m worth of stock On the 18th of June, Ashim Vohra sold around 12k shares on-market at roughly ₹475 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Ashim's only on-market trade for the last 12 months. Annonce • May 24
Minda Corporation Limited, Annual General Meeting, Aug 14, 2024 Minda Corporation Limited, Annual General Meeting, Aug 14, 2024. Reported Earnings • May 23
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: ₹9.65 (down from ₹12.10 in FY 2023). Revenue: ₹46.7b (up 8.5% from FY 2023). Net income: ₹2.27b (down 20% from FY 2023). Profit margin: 4.9% (down from 6.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 16
Minda Corporation Limited to Report Q4, 2024 Results on May 22, 2024 Minda Corporation Limited announced that they will report Q4, 2024 results on May 22, 2024 Recent Insider Transactions • Mar 16
Group CFO & Group Chief Risk Officer recently sold ₹2.8m worth of stock On the 12th of March, Vinod Raheja sold around 7k shares on-market at roughly ₹405 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.8m. Vinod has been a net seller over the last 12 months, reducing personal holdings by ₹14m. Recent Insider Transactions • Feb 23
Group CFO & Group Chief Risk Officer recently sold ₹867k worth of stock On the 19th of February, Vinod Raheja sold around 2k shares on-market at roughly ₹433 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹5.7m. Vinod has been a net seller over the last 12 months, reducing personal holdings by ₹11m. Annonce • Feb 09
Minda Corporation Limited Declares Interim Dividend The Board of Directors of Minda Corporation Limited have declared interim dividend of 25% that is 50 paisa per equity share. Price Target Changed • Feb 08
Price target increased by 10% to ₹437 Up from ₹396, the current price target is an average from 5 analysts. New target price is 7.3% above last closing price of ₹407. Stock is up 101% over the past year. The company is forecast to post earnings per share of ₹9.50 for next year compared to ₹12.10 last year. Annonce • Feb 07
Minda Corporation Limited Appoints Deepak Arora as CEO BV-II (Wiring Harness Division) Minda Corporation Limited announced that Mr. Deepak Arora has been designated to CEO BV-II (Wiring Harness Division) of the company with effect from February 07, 2024. Mr. Deepak Arora is MBA in Operations from IMT. He has been associated with the Group since 2008 and has held various leadership roles during his tenure. Prior to his last assignment, he was in charge of the Programme Management (PMG) function for Wiring Harness Division. In his current role, Mr. Arora would be overseeing overall WHD vertical focusing on the growth of the business. Upcoming Dividend • Feb 07
Upcoming dividend of ₹0.50 per share at 0.4% yield Eligible shareholders must have bought the stock before 14 February 2024. Payment date: 01 March 2024. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.6%). Declared Dividend • Feb 03
Dividend increased to ₹0.50 Dividend of ₹0.50 is 25% higher than last year. Ex-date: 14th February 2024 Payment date: 1st March 2024 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 42% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: ₹2.23 (vs ₹2.22 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.23 (up from ₹2.22 in 3Q 2023). Revenue: ₹11.7b (up 9.3% from 3Q 2023). Net income: ₹524.9m (flat on 3Q 2023). Profit margin: 4.5% (down from 4.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 56% per year whereas the company’s share price has increased by 61% per year. Annonce • Jan 24
Minda Corporation Limited to Report Q3, 2024 Results on Feb 01, 2024 Minda Corporation Limited announced that they will report Q3, 2024 results on Feb 01, 2024 Price Target Changed • Jan 15
Price target increased by 13% to ₹396 Up from ₹350, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹396. Stock is up 75% over the past year. The company is forecast to post earnings per share of ₹10.86 for next year compared to ₹12.10 last year. Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Additional Independent Director Gajanan Gandhe was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 19
Group CFO & Group Chief Risk Officer recently sold ₹5.7m worth of stock On the 14th of December, Vinod Raheja sold around 15k shares on-market at roughly ₹382 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Vinod's only on-market trade for the last 12 months. Price Target Changed • Nov 14
Price target increased by 8.3% to ₹358 Up from ₹330, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹345. Stock is up 64% over the past year. The company is forecast to post earnings per share of ₹11.27 for next year compared to ₹12.10 last year. Price Target Changed • Nov 03
Price target increased by 9.1% to ₹338 Up from ₹310, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹341. Stock is up 70% over the past year. The company is forecast to post earnings per share of ₹11.27 for next year compared to ₹12.10 last year. Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: ₹2.50 (vs ₹2.46 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.50 (up from ₹2.46 in 2Q 2023). Revenue: ₹12.0b (up 4.4% from 2Q 2023). Net income: ₹587.7m (up 1.7% from 2Q 2023). Profit margin: 4.9% (down from 5.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 71% per year, which means it is significantly lagging earnings growth. Annonce • Oct 24
Minda Corporation Limited to Report Q2, 2024 Results on Nov 02, 2023 Minda Corporation Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Recent Insider Transactions • Sep 07
Executive Chairman & Group CEO recently bought ₹96m worth of stock On the 4th of September, Ashok Minda bought around 275k shares on-market at roughly ₹350 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ashok's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 26
Executive Director recently sold ₹1.6m worth of stock On the 21st of August, Naresh Modi sold around 5k shares on-market at roughly ₹318 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. Insiders have been net sellers, collectively disposing of ₹22m more than they bought in the last 12 months. Reported Earnings • Aug 04
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: ₹1.92 (down from ₹2.23 in 1Q 2023). Revenue: ₹10.8b (up 6.6% from 1Q 2023). Net income: ₹452.1m (down 14% from 1Q 2023). Profit margin: 4.2% (down from 5.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 03
Price target increased by 7.8% to ₹308 Up from ₹286, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹294. Stock is up 28% over the past year. The company is forecast to post earnings per share of ₹12.34 for next year compared to ₹12.10 last year. Annonce • Jul 15
Minda Corporation Limited Approves Appointment of Neeraj Sharma as Group Chief Marketing Officer Minda Corporation Limited announced that Mr. Neeraj Sharma is appointed as Group Chief Marketing Officer (GCMO) of the Company with effect from July 14, 2023. Mr. Neeraj Sharma is 52 years old and has earned his Masters from Institute of Business Management and Research, Pune University and B.E. in Industrial Engineering from Vishwakarma Institute of Technology, Pune University. Mr. Neeraj is a techno-Commercial Business Leader with 30 years of experience in Global Enterprises. Spearheaded strategic vision, tactical execution and operations management to support performance and propel organizational growth. He has a proven history of managing stakeholders and heading complex Joint-Venture organizations. Upcoming Dividend • Jul 14
Upcoming dividend of ₹0.80 per share at 0.4% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 26 August 2023. Payout ratio is a comfortable 9.9% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%). Reported Earnings • Jul 06
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₹12.10 (up from ₹8.16 in FY 2022). Revenue: ₹43.2b (up 45% from FY 2022). Net income: ₹2.85b (up 48% from FY 2022). Profit margin: 6.6% (up from 6.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jun 10
COO & CEO of Die-Casting Division recently sold ₹1.5m worth of stock On the 5th of June, Ashim Vohra sold around 5k shares on-market at roughly ₹301 per share. This transaction amounted to 6.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. Ashim has been a net seller over the last 12 months, reducing personal holdings by ₹8.7m. Annonce • Jun 09
Minda Corporation Limited Announces Resignation of Ravi Sud as Non-Executive, Non-Independent Director Minda Corporation Limited announced that Mr. Ravi Sud has stepped down as Non-Executive, Non-Independent Director (Nominee Director of PHI CapitalGrowth Fund I) from the Board of the company effective June 8, 2023 due to emerging professional needs and related pre-occupations. Board Committee's Updates: Automatically ceased to be a Chairman of Risk Management Committee and Member of Stakeholders' Relationship Committee effective June 08, 2023. Recent Insider Transactions • May 26
COO & CEO of Die-Casting Division recently sold ₹932k worth of stock On the 22nd of May, Ashim Vohra sold around 3k shares on-market at roughly ₹274 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Ashim's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹231, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 22x in the Auto Components industry in India. Total returns to shareholders of 333% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹96.20 per share. Annonce • Feb 18
Pricol Clarifies on Reports Regarding Acquisition of Shares by Minda Media reports earlier in the day suggested that Minda Corporation (NSEI:MINDACORP) is looking to acquire up to 15.7% stake in precision engineered products manufacturer Pricol Limited (NSEI:PRICOLLTD) through a reverse book building process. The reports further stated that Minda Corp. is looking to invest INR 4,000 million in Pricol to acquire the stake. Pricol Managing Director Vikram Mohan was quoted by the media saying that neither he nor promoters or institutions, which own stakes in Pricol, have any intention to sell. The MD reported said there was no question of selling a stake as the company is doing very well and is on the growth curve. Offering a clarification on the same, Pricol filed a statement with the bourses stating: "Our company has no information in this regard. We don't find any communication from Minda Corporation Limited to the stock exchanges regarding the said news. Minda Corporation Limited is a competitor in one of our major business segments. It further added: "Managing Director of Pricol Limited has issued a clarification a little while earlier reiterating that the promoter group stands fully committed to the company and that they have absolutely no intent in undertaking any secondary sale of promoter's stake. Reported Earnings • Feb 14
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₹2.22. Revenue: ₹10.7b (up 45% from 3Q 2022). Net income: ₹522.6m (down 25% from 3Q 2022). Profit margin: 4.9% (down from 9.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Price Target Changed • Jan 24
Price target increased by 8.8% to ₹291 Up from ₹267, the current price target is an average from 4 analysts. New target price is 32% above last closing price of ₹219. Stock is up 8.8% over the past year. The company is forecast to post earnings per share of ₹9.98 for next year compared to ₹8.16 last year. Reported Earnings • Nov 06
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: ₹2.46 (up from ₹1.66 in 2Q 2022). Revenue: ₹11.5b (up 57% from 2Q 2022). Net income: ₹578.1m (up 48% from 2Q 2022). Profit margin: 5.0% (down from 5.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.8%. The fair value is estimated to be ₹259, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 22% in a year. Earnings is forecast to grow by 9.8% in the next year. Buying Opportunity • Sep 09
Now 20% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be ₹286, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 22% in a year. Earnings is forecast to grow by 9.8% in the next year. Buying Opportunity • Aug 22
Now 20% undervalued Over the last 90 days, the stock is up 7.7%. The fair value is estimated to be ₹272, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 22% in a year. Earnings is forecast to grow by 9.8% in the next year. Annonce • Jul 15
Spark Minda Forays into Consumer Space with the Launch of Protective Head Gear (Helmets) Minda Corporation Limited launched 17 helmet models with 145 variants in the Indian retail market. The launch marks Spark Minda's foray into the B2C space at a time when India is emerging as the larger and faster growing helmet market globally. During the next few years, the company plans to add 200+ distributors and open exclusive Spark Minda branded outlets across the country, making the distribution network more robust. The Protective Head Gear will be available across three customer segments- Economy (Knight series), Mid (Garrison series) and the Premium (Armored series) category. Spark Minda also announced the launch of 1,500 fiber parts (Plastic-molded, painted components for two-wheelers) to meet the growing demand of 2W riders across the country. This number is targeted to increase to 2400 in the next two years, representing the larger range of fiber parts available in the country. Upcoming Dividend • Jul 14
Upcoming dividend of ₹0.70 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 25 August 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 08
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₹8.16 (up from ₹4.13 in FY 2021). Revenue: ₹29.8b (up 26% from FY 2021). Net income: ₹1.92b (up 105% from FY 2021). Profit margin: 6.4% (up from 3.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 31%, compared to a 22% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 18% share price gain to ₹197, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹246 per share.