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Minda Corporation announced the incorporation of a joint venture company in the name and style of Spark Minda Turntide. The company's wholly owned subsidiary, Spark Minda Green Mobility Systems holds 49% stake in the new joint venture while 51% stake is held by Turntide Drives , United Kingdom. The venture will engage in the development and manufacturing of advanced new generation motor controllers, axial flux motors, pumps for thermal applications , and other customized controllers tailored primarily for India's growing EV segment including any activities reasonably incidental or ancillary thereto.

The JV will focus on developing and manufacturing advanced motor controllers, axial flux motors, pumps for thermal applications, and other customized EV components tailored for India?s growing electric vehicle market.

Under the arrangement, Minda Corp, through its wholly‑owned special purpose vehicle, will hold a 49% stake, while Turntide will own 51% in the new venture, which will develop next-generation powertrain solutions for the EV industry.

The joint venture will develop high- and low-voltage motor controllers, high-performance electric motors, thermal application pumps, and other custom EV components tailored to India?s growing market.

The partnership is aimed at localising Turntide?s global technology for the Indian market and supplying premium, cost‑competitive products aligned with domestic OEM needs.

India?s EV adoption has been gaining traction backed by supportive government policies and increasing demand for sustainable mobility solutions. The JV is expected to strengthen the local EV supplier ecosystem, accelerate technology development cycles and address stringent OEM performance and quality benchmarks through local manufacturing.

Ashok Minda, chairman and Group CEO of Minda Corporation, commented: ?This partnership with Turntide marks a significant milestone in our journey towards electrification. By combining Turntide?s globally proven technology with Minda Corporation Limited?s strong local presence, we aim to deliver advanced, high-quality, and cost-competitive EV powertrain solutions that support India?s transition to sustainable mobility. This will result to meet ?Make in India? objectives and enhance the resilience of domestic supply chain of EV ecosystem.?

Steve Hornyak, CEO of Turntide Technologies, commented: ?India?s electrification growth story is central to Turntide?s strategy, and this joint venture is a key step in bringing our powertrain technologies closer to customers in the market. We?re proud to partner with Minda Corporation, a fantastic team with decades of experience serving global OEMs, as we deliver localized, high-performance solutions for India?s rapidly evolving mobility ecosystem.?

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and international footprint.

The company?s consolidated net profit rose 36.1% to Rs 88.19 crore, on a 24.6% rise in revenue from operations to Rs 1,560.29 crore in Q3 FY26 over Q3 FY25.

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Net profit of Minda Corporation rose 32.25% to Rs 85.70 crore in the quarter ended December 2025 as against Rs 64.80 crore during the previous quarter ended December 2024. Sales rose 24.57% to Rs 1560.29 crore in the quarter ended December 2025 as against Rs 1252.56 crore during the previous quarter ended December 2024.

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Minda Corporation announced that the Board of Directors of the Company at its meeting held on 05 February 2026, has recommended a Interim Dividend of Rs.0.60 per share (i.e.30%), subject to the approval of the shareholders.

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