Minda Future Growth
Future criteria checks 5/6
Minda is forecast to grow earnings and revenue by 27% and 50.5% per annum respectively. EPS is expected to grow by 13.2% per annum. Return on equity is forecast to be 16% in 3 years.
Key information
27.0%
Earnings growth rate
13.24%
EPS growth rate
| Auto Components earnings growth | 20.5% |
| Revenue growth rate | 50.5% |
| Future return on equity | 16.04% |
| Analyst coverage | Good |
| Last updated | 21 Apr 2026 |
Recent future growth updates
Analysis Article • Feb 08
Minda Corporation Limited (NSE:MINDACORP) Just Reported And Analysts Have Been Lifting Their Price Targets
It's been a good week for Minda Corporation Limited ( NSE:MINDACORP ) shareholders, because the company has just...Analysis Article • Nov 09
Minda Corporation Limited (NSE:MINDACORP) Analysts Are Pretty Bullish On The Stock After Recent Results
Investors in Minda Corporation Limited ( NSE:MINDACORP ) had a good week, as its shares rose 2.7% to close at ₹579...Analysis Article • Aug 15
Revenue Beat: Minda Corporation Limited Beat Analyst Estimates By 9.1%
NSEI:MINDACORP 1 Year Share Price vs Fair Value Explore Minda's Fair Values from the Community and select yours It's...Recent updates
Narrative Update • Apr 26
MINDACORP: New Finance Leadership Will Drive Future Upside
Analysts have trimmed their price target on Minda slightly to ₹681.71 from ₹686.83, reflecting updated assumptions around a very large revenue growth input, a much lower profit margin figure, and a modestly higher future P/E multiple. What's in the News Minda Corporation received an Assessment Order under Section 143(3) of the Income Tax Act, 1961 for Assessment Year 2023-24, with a total tax demand of ₹670.906 million, including interest of ₹177.592 million, which the company plans to contest while stating there is no impact on its financial, operational or other activities (Regulatory filing).Narrative Update • Apr 12
MINDACORP: New Finance Leadership And ESOP Overhaul Will Drive Future Upside
Analysts have kept their price target for Minda broadly unchanged at around ₹686.83, with only minor adjustments to underlying assumptions such as discount rate, revenue growth, profit margin and future P/E contributing to this stable view. What's in the News Minda Corporation received an assessment order under Section 143(3) of the Income Tax Act, 1961 for Assessment Year 2023-24, with a total tax demand of ₹670.906 million including interest of ₹177.592 million.Narrative Update • Mar 29
MINDACORP: New Finance Leadership And ESOP Overhaul Will Support Future Upside
Analysts have trimmed Minda's implied fair value estimate slightly from about ₹693.50 to roughly ₹686.83. This reflects updated views on discount rate, revenue growth, profit margin and future P/E assumptions.Narrative Update • Mar 12
MINDACORP: New GCFO Appointment And ESOP Changes Will Support Upside
Analysts have nudged their fair value estimate for Minda to ₹693.5, reflecting small tweaks to the discount rate, revenue growth and profit margin assumptions, along with a slightly higher future P/E multiple. What's in the News Minda has scheduled a special or extraordinary shareholders meeting for March 15, 2026, to be conducted via postal ballot in India, signaling upcoming matters that require shareholder approval (Key Developments).Narrative Update • Feb 25
MINDACORP: ESOP Reforms And New CFO Will Support Future Upside
Analysts have kept their fair value estimate for Minda steady at ₹693.50, with only marginal tweaks to inputs such as the discount rate and assumed future P/E. This reflects fine tuning of their models rather than a shift in their overall view.Narrative Update • Feb 11
MINDACORP: Lower Discount Rate And ESOP Changes Will Support Future Upside
Analysts have raised their price target on Minda from ₹654.33 to ₹693.50, citing updated assumptions around the discount rate, revenue growth, profit margin, and forward P/E as the key drivers of this change. What's in the News Minda Corporation Limited has scheduled a board meeting on December 30, 2025, to consider amendments to the Employee Stock Option Scheme 2017 and the transfer of unallocated equity shares to a new Minda Employee Stock Option Scheme 2025 (company filing).Analysis Article • Feb 08
Minda Corporation Limited (NSE:MINDACORP) Just Reported And Analysts Have Been Lifting Their Price Targets
It's been a good week for Minda Corporation Limited ( NSE:MINDACORP ) shareholders, because the company has just...Analysis Article • Feb 01
Here's Why Minda (NSE:MINDACORP) Can Manage Its Debt Responsibly
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Narrative Update • Jan 24
MINDACORP: Stable Margins And New ESOP Scheme Will Support Future Upside
Analysts have trimmed their fair value estimate for Minda from ₹662.67 to ₹654.33, citing slightly higher discount rate assumptions and a marginally lower future P/E multiple, while keeping growth and margin expectations broadly unchanged. What's in the News Board meeting scheduled for December 30, 2025 to consider amendments to the Employee Stock Option Scheme 2017 and transfer of unallocated equity shares to a proposed Minda Employee Stock Option Scheme 2025, along with approval of the new scheme in line with Share Based Employee Benefits and Sweat Equity Regulations, 2021 (company filing).Narrative Update • Jan 09
MINDACORP: Stable Margins And New ESOP Framework Will Shape Future Performance
Analysts have nudged their price target on Minda slightly higher to ₹662.67 from ₹659.33, citing small adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Minda has scheduled a board meeting on December 30, 2025 to consider amending its Employee Stock Option Scheme 2017 and transferring unallocated equity shares to a new Minda Employee Stock Option Scheme 2025, in line with Share Based Employee Benefits and Sweat Equity Regulations, 2021 (Key Developments).Analysis Article • Jan 05
Minda Corporation Limited's (NSE:MINDACORP) P/E Still Appears To Be Reasonable
With a price-to-earnings (or "P/E") ratio of 53.1x Minda Corporation Limited ( NSE:MINDACORP ) may be sending very...Narrative Update • Dec 20
MINDACORP: Stable Margins And Leadership Transition Will Shape Future Performance
Analysts have modestly raised their fair value estimate for Minda to approximately ₹659 per share from about ₹652, citing slightly improved profit margin expectations, a marginally lower discount rate, and a small uplift in forward valuation multiples, despite a tempered revenue growth outlook. What's in the News Group Chief Financial Officer Mr. Vinod Raheja has resigned effective November 30, 2025, citing personal or family commitments (company filing).Narrative Update • Dec 06
MINDACORP: Stable Outlook And CFO Transition Will Support Future Performance
Analysts have reaffirmed their price target for Minda at ₹651.80, with only marginal tweaks to discount rate, growth, margin and valuation assumptions, reflecting slightly improved risk perceptions but no change to the overall fair value outlook. What's in the News Group Chief Financial Officer Vinod Raheja has resigned, effective November 30, 2025, citing personal or family commitments (Key Developments).Narrative Update • Nov 22
MINDACORP: Revenue Outlook And Optimized Costs Will Guide Steady Future Performance
Analysts have raised their price target for Minda from ₹615.2 to ₹651.8. They cite improved revenue growth forecasts and a slightly lower discount rate as key factors supporting the updated valuation. What's in the News Minda Corporation Limited recently hosted an Analyst/Investor Day.Analysis Article • Nov 09
Minda Corporation Limited (NSE:MINDACORP) Analysts Are Pretty Bullish On The Stock After Recent Results
Investors in Minda Corporation Limited ( NSE:MINDACORP ) had a good week, as its shares rose 2.7% to close at ₹579...Narrative Update • Nov 07
MINDACORP: Improved Margins And Business Plans Will Support Future Performance
Narrative Update on Minda: Analyst Price Target Revision Analysts have raised their price target for Minda from ₹571.50 to ₹615.20. They cite increased expectations for revenue growth, improved profit margins, and adjustments in the company's financial outlook.Analysis Article • Oct 15
Should You Be Adding Minda (NSE:MINDACORP) To Your Watchlist Today?
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • Sep 18
Minda (NSE:MINDACORP) Seems To Use Debt Quite Sensibly
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Analysis Article • Aug 16
Shareholders May Be More Conservative With Minda Corporation Limited's (NSE:MINDACORP) CEO Compensation For Now
NSEI:MINDACORP 1 Year Share Price vs Fair Value Explore Minda's Fair Values from the Community and select yours Key...Analysis Article • Aug 15
Revenue Beat: Minda Corporation Limited Beat Analyst Estimates By 9.1%
NSEI:MINDACORP 1 Year Share Price vs Fair Value Explore Minda's Fair Values from the Community and select yours It's...Analysis Article • Jul 31
Minda (NSE:MINDACORP) Is Due To Pay A Dividend Of ₹0.90
Minda Corporation Limited's ( NSE:MINDACORP ) investors are due to receive a payment of ₹0.90 per share on 20th of...Analysis Article • Jun 17
Minda's (NSE:MINDACORP) Dividend Will Be ₹0.90
Minda Corporation Limited ( NSE:MINDACORP ) has announced that it will pay a dividend of ₹0.90 per share on the 20th of...Analysis Article • May 31
Minda (NSE:MINDACORP) Is Paying Out A Dividend Of ₹0.90
Minda Corporation Limited ( NSE:MINDACORP ) will pay a dividend of ₹0.90 on the 21st of September. This payment means...Analysis Article • May 30
Minda Corporation Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Investors in Minda Corporation Limited ( NSE:MINDACORP ) had a good week, as its shares rose 4.2% to close at ₹533...Analysis Article • Mar 21
What Is Minda Corporation Limited's (NSE:MINDACORP) Share Price Doing?
While Minda Corporation Limited ( NSE:MINDACORP ) might not have the largest market cap around , it saw a decent share...Analysis Article • Feb 28
Earnings Not Telling The Story For Minda Corporation Limited (NSE:MINDACORP)
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 25x, you may consider Minda...
New Narrative • Feb 15
Expanding EV Platforms And Premium Products Will Drive Future Success
Strategic partnerships and EV market focus are key drivers for revenue and margin growth through synergies and reduced import reliance.Analysis Article • Feb 10
Analysts Are Updating Their Minda Corporation Limited (NSE:MINDACORP) Estimates After Its Third-Quarter Results
As you might know, Minda Corporation Limited ( NSE:MINDACORP ) recently reported its quarterly numbers. It was a...Analysis Article • Dec 27
Minda (NSE:MINDACORP) Seems To Use Debt Quite Sensibly
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Dec 04
Returns At Minda (NSE:MINDACORP) Are On The Way Up
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Nov 07
Minda Corporation Limited (NSE:MINDACORP) Not Lagging Market On Growth Or Pricing
With a price-to-earnings (or "P/E") ratio of 50.7x Minda Corporation Limited ( NSE:MINDACORP ) may be sending very...Analysis Article • Oct 17
Is It Time To Consider Buying Minda Corporation Limited (NSE:MINDACORP)?
While Minda Corporation Limited ( NSE:MINDACORP ) might not have the largest market cap around , it saw a double-digit...Analysis Article • Aug 13
Minda Corporation Limited (NSE:MINDACORP) Analysts Are Pretty Bullish On The Stock After Recent Results
It's been a good week for Minda Corporation Limited ( NSE:MINDACORP ) shareholders, because the company has just...Analysis Article • Jul 24
Investors Appear Satisfied With Minda Corporation Limited's (NSE:MINDACORP) Prospects
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 33x, you may consider Minda...Analysis Article • Jun 25
Does Minda (NSE:MINDACORP) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Jun 09
Minda (NSE:MINDACORP) Hasn't Managed To Accelerate Its Returns
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically...Analysis Article • May 25
Here's What Analysts Are Forecasting For Minda Corporation Limited (NSE:MINDACORP) After Its Annual Results
Minda Corporation Limited ( NSE:MINDACORP ) came out with its yearly results last week, and we wanted to see how the...Analysis Article • Mar 27
What Does Minda Corporation Limited's (NSE:MINDACORP) Share Price Indicate?
Minda Corporation Limited ( NSE:MINDACORP ), is not the largest company out there, but it saw significant share price...Analysis Article • Feb 08
Minda's (NSE:MINDACORP) Dividend Will Be ₹0.50
Minda Corporation Limited ( NSE:MINDACORP ) will pay a dividend of ₹0.50 on the 1st of March. Even though the dividend...Analysis Article • Feb 04
Revenue Miss: Minda Corporation Limited Fell 5.1% Short Of Analyst Revenue Estimates And Analysts Have Been Revising Their Models
Last week saw the newest quarterly earnings release from Minda Corporation Limited ( NSE:MINDACORP ), an important...Analysis Article • Jan 16
These 4 Measures Indicate That Minda (NSE:MINDACORP) Is Using Debt Reasonably Well
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Dec 20
Minda Corporation Limited's (NSE:MINDACORP) Price Is Out Of Tune With Earnings
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 29x, you may consider Minda...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 3/31/2029 | 6,247,761 | 6,919 | 4,277 | N/A | 2 |
| 3/31/2028 | 78,838 | 5,644 | 4,306 | N/A | 6 |
| 3/31/2027 | 68,406 | 4,412 | 3,224 | N/A | 7 |
| 3/31/2026 | 60,210 | 3,145 | 1,946 | N/A | 5 |
| 12/31/2025 | 58,028 | 2,877 | N/A | N/A | N/A |
| 9/30/2025 | 54,950 | 2,668 | 2,026 | 6,148 | N/A |
| 6/30/2025 | 52,497 | 2,565 | N/A | N/A | N/A |
| 3/31/2025 | 50,562 | 2,554 | 1,943 | 5,444 | N/A |
| 12/31/2024 | 49,499 | 2,741 | N/A | N/A | N/A |
| 9/30/2024 | 48,632 | 2,618 | 1,302 | 3,880 | N/A |
| 6/30/2024 | 47,690 | 2,462 | N/A | N/A | N/A |
| 3/31/2024 | 46,511 | 2,272 | 348 | 2,868 | N/A |
| 12/31/2023 | 45,107 | 2,784 | N/A | N/A | N/A |
| 9/30/2023 | 44,132 | 2,782 | 1,255 | 4,169 | N/A |
| 6/30/2023 | 43,644 | 2,772 | N/A | N/A | N/A |
| 3/31/2023 | 43,001 | 2,845 | 1,367 | 3,874 | N/A |
| 12/31/2022 | 41,733 | 2,384 | N/A | N/A | N/A |
| 9/30/2022 | 38,433 | 2,560 | 103 | 1,775 | N/A |
| 6/30/2022 | 34,275 | 2,373 | N/A | N/A | N/A |
| 3/31/2022 | 29,759 | 1,919 | 583 | 1,668 | N/A |
| 12/31/2021 | 28,222 | 1,706 | N/A | N/A | N/A |
| 9/30/2021 | 28,237 | 1,502 | -527 | 759 | N/A |
| 6/30/2021 | 27,486 | 1,370 | N/A | N/A | N/A |
| 3/31/2021 | 23,679 | 935 | -495 | 855 | N/A |
| 12/31/2020 | 27,008 | -2,795 | N/A | N/A | N/A |
| 9/30/2020 | 25,046 | -2,844 | 1,792 | 3,084 | N/A |
| 6/30/2020 | 24,070 | -2,671 | N/A | N/A | N/A |
| 3/31/2020 | 22,226 | 1,356 | 3,020 | 4,504 | N/A |
| 12/31/2019 | 28,866 | 1,419 | N/A | N/A | N/A |
| 9/30/2019 | 29,842 | 1,450 | N/A | 3,891 | N/A |
| 6/30/2019 | 30,220 | 1,524 | N/A | N/A | N/A |
| 3/31/2019 | 30,920 | 1,692 | N/A | 2,094 | N/A |
| 12/31/2018 | 30,412 | 1,671 | N/A | N/A | N/A |
| 9/30/2018 | 29,083 | 1,588 | N/A | N/A | N/A |
| 6/30/2018 | 27,900 | 1,562 | N/A | N/A | N/A |
| 3/31/2018 | 25,935 | 1,427 | N/A | 699 | N/A |
| 12/31/2017 | 32,727 | 1,132 | N/A | N/A | N/A |
| 9/30/2017 | 31,447 | 967 | N/A | N/A | N/A |
| 6/30/2017 | 30,374 | 936 | N/A | N/A | N/A |
| 3/31/2017 | 20,598 | 1,021 | N/A | 484 | N/A |
| 12/31/2016 | 28,409 | 1,034 | N/A | N/A | N/A |
| 9/30/2016 | 27,744 | 1,149 | N/A | N/A | N/A |
| 6/30/2016 | 26,129 | 1,119 | N/A | N/A | N/A |
| 3/31/2016 | 24,410 | 1,073 | N/A | 2,258 | N/A |
| 12/31/2015 | 23,062 | 1,072 | N/A | N/A | N/A |
| 9/30/2015 | 21,856 | 996 | N/A | N/A | N/A |
| 6/30/2015 | 20,404 | 924 | N/A | N/A | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MINDACORP's forecast earnings growth (27% per year) is above the savings rate (6.9%).
Earnings vs Market: MINDACORP's earnings (27% per year) are forecast to grow faster than the Indian market (16.8% per year).
High Growth Earnings: MINDACORP's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: MINDACORP's revenue (50.5% per year) is forecast to grow faster than the Indian market (11% per year).
High Growth Revenue: MINDACORP's revenue (50.5% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MINDACORP's Return on Equity is forecast to be low in 3 years time (16%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/09 11:07 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Minda Corporation Limited is covered by 14 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Asian Markets Securities Private Limited |
| Mukesh Saraf | Avendus Spark |
| Subhash Gate | Choice Equity Broking Private Limited |