Minda Corporation Ltd Share Price – NSE  / BSE

Auto Ancillaries, Small Cap

In an exchange filling, the company said that the board of directors has approved the proposal of raising of funds by way of further issuance of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes (in one or more tranches), for upto Rs 1,000 crore, subject to approval of the company’s shareholders and receipt of applicable regulatory approvals.

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

The company’s consolidated net profit surged 42% to Rs 64.20 crore in Q1 FY25 as against 45.21 crore posted in Q1 FY24. Revenue from operations jumped 11% YoY to 1,192.39 crore for the quarter eneded 30 June 2024.

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Minda Corporation will hold a meeting of the Board of Directors of the Company on 12 September 2024.

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The funds would be raised by issuance of equity shares or any other equity based instruments includes preferential issue, qualified institutions placement, rights issue or any other permissible mode or any combination.

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

The company’s consolidated net profit surged 42% to Rs 64.20 crore in Q1 FY25 as against 45.21 crore posted in Q1 FY24. Revenue from operations jumped 11% YoY to 1,192.39 crore for the quarter eneded 30 June 2024.

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This agreement will enhance the product portfolio offering of Minda Corporation in the growing EV industry in the areas of electrical distribution systems (EDS),” the company stated.

Under this agreement, Minda Corp & Sanco will locally develop EV connecting systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, power distribution units (PDU) and battery distribution units (BDU).

The partnership would help Minda Corp to design, develop and manufacture advanced EDS solutions locally for the EV customers in India. This will also strengthen the vertical integration capabilities of the company’s wiring harness division, reinforcing its position as a key player in the EV Supply chain ecosystem.

Aakash Minda, Executive Director said, “We are excited to partner with SANCO, a collaboration that marks a significant milestone in our pursuit to deliver comprehensive and customised Electrical Distribution System (EDS) solutions to the EV market.

This partnership signifies our shared commitment to offer innovative & sustainable mobility solution for the growing Electric Vehicle industry.

By offering new age EV solutions, we will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localization, delivering greater value for our customers.”

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

The company had reported 42% rise in consolidated net profit to Rs 64.20 crore on a 10.97% increase in sales to Rs 1,192.39 crore in Q1 FY25 as compared with Q1 FY24.

The scrip rose 0.54% to currently trade at Rs 573.95 on the BSE.

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