Minda Corp. Ltd. · NSE:MINDACORP
Minda — Q2 FY2027 Earnings Presentation
30 slides from Minda's earnings presentation, Nov 3, 2026
Slide 1: Exchange filing cover letter for earnings presentation
November 03, 2026 The Officer-In-Charge (Listing) Listing Head - Listing Operations, BSE Department Limited, National Stock Exchange of India Ltd., Exchange P.J. Towers, Dalal Street, Fort, Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai - 400 051 Scrip Code: 538962 Scrip Code: M
Slide 2: Investor Presentation Q2 and H1 FY2027
Minda Corporation INVESTOR PRESENTATION Q2 and H1 FY2027 3 rd Nov 2026 w w w. s p a r k m i n d a . c o m
Slide 3: Minda at a Glance
Minda at a Glance A significant player in the global automotive industry for over six decades Rs. 9,016Cr Rs. 6,185Cr 42 8.2 lakh Vision 23,000+ Sqft Land Bank Be a Dynamic, Innovative and Profitable global automotive FY26 FY26 Manufacturing Workforce 2.6 lakh organization to emerge as the preferred
Slide 4: Indian Automotive Industry Performance
Indian Automotive Industry Performance Production Volumes in Millions Q2 FY27 Growth (Y-o-Y) H1 FY27 Growth (Y-o-Y) 18.2% 19.9% 16.5% 19.5% 10.90 9.22 20.62 8.10 17.19 6.95 15.37 6.8% 33.9% 24.2% 24.9% 10.5% 24.7% 30.5% 21.0% 12.86 1.33 1.66 2.57 3.11 0.32 0.35 0.26 0.35 0.36 0.45 0.62 0.68 0.52 0.6
Slide 5: Key Operation Highlights for Q2 FY27
Key Operation Highlights for Q2 FY27 Highest Ever Revenue & EBITDA Record sales for EV System Highest ever quarterly revenue with a 43% YoY growth, EV product revenue grew 113% YoY, driven by accelerating EV significantly outpacing 18% industry growth, with 11.8% margin penetration, and now contribu
Slide 6: Government Approval To Manufacture Display Module Sub-Assemblies
Government Approval To Manufacture Display Module Sub-Assemblies Minda Instruments Limited, wholly owned subsidiary of Minda Corporation Government approval to manufacture Display Module Sub-Assemblies, a component the country has largely imported until now The clearance came under the Electronics C
Slide 7: Q2 & H1 FY2027 Financial Highlights
Q2 & H1 FY2027 Financial Highlights Revenue & EBITDA at record levels Rs. In Crores Revenue EBITDA PAT* YoY 43% YoY 45% YoY 69% 2,189 1,846 257 1,535 212 143 Q2 FY27 178 100 85 19% 11.6% 11.5% 22% 11.8% 6.5% 5.5% 5.4% 43% Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 EBITDA
Slide 8: Business Vertical Performance
Business Vertical Performance Rs. In Crores YoY YoY Mechatronics and Aftermarket: 36% 38% • Strong demand in domestic 2W and PV 984 segment coupled with the premiumization 1,847 Aftermarket and Others 863 of existing products, significantly 712 contributed to overall growth 1,362 Mechatronics, • Con
Slide 9: Revenue Break-Up
Revenue Break-Up Q2 FY27 By Products By Geography By End Market Europe & SE Asia North America 5% Q2 FY26 Q2 FY27 Others 6% 15% Wiring 2-3 Wheelers Harness 30% 45% 49% Clusters 17% Q2 FY26 Q2 FY26 Die Vehicle Commercial Vehicles* Casting Access India 16% 22% 89% 29% 25% SE Asia Europe & North Passen
Slide 10: Flash Electronics
FLASH ELECTRONICS Flash Electronics Financial & Other Highlight (FY26) Revenue from Operations YoY YoY 46% 44% Revenue EBITDA PAT EV Revenue 1,183 Rs. 1,803 Cr Rs. 310 Cr Rs. 137 Cr 21% 822 533 650 446 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Business Verticals Manufacturing Facilities EBITDA YoY 44%
Slide 11: Consolidated Leverage Position
Consolidated Leverage Position (Rs. Crores) Particulars Mar 31st, 2025 Mar 31st, 2026 Sep 30th, 2026 Net Worth 2,202 2,659 3,130 Long Term Borrowings* 528 543 470 Short Term Borrowings 816 669 962 Gross Debt 1,344 1,212 1,432 Less: Cash & Cash Equivalents 97 147 118 Net Debt 1,247 1,065 1,314 Capita
Slide 12: CSR and ESG
CSR and ESG Page 11
Slide 13: ESG
ESG Transforming Towards Sustainable Mobility Sustainable Responsible Care For People Ethical Business Inclusive Growth Operations Value Chain Greenlink programme initiated Spark Minda Sustainable Addressed and resolved 1,690+ learners enrolled in 2,340+ accessible and assistive with suppliers for S
Slide 14: CSR Programme Glimpses
CSR Programme Glimpses CSR Project Excellence Award by AIMA Uttarakhand SDG Achievers Award by Uttarakhand State Government State Level Programme on Menstrual Hygiene FICCI award for Best Innovative Diversity & Day in Prison Headquarters Lucknow Inclusion Practices Page 13
Slide 15: Awards & Achievement Q2 FY2027
Awards & Achievement Q2 FY2027 Business Vertical – Business Vertical Business Vertical – 1 (Mechatronics, 2 (Information & DCD – won 25 – 5 (MIL, SMGM Aftermarkets & Connected System Awards during & CD) won 18 others division) division) won 21 Q2 FY27 Awards during won 67 awards Awards during Q2 FY2
Slide 16: Annexures
Annexures Page 15
Slide 17: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement (Rs. Crores) Particulars Q2 FY27 Q2 FY26 YoY% Q1 FY27 QoQ% H1 FY27 H1 FY26 YoY% Revenue from Operations 2,189 1,535 42.6% 1,846 18.6% 4,036 2,921 38.1% Raw Material 1,430 956 1,180 2,610 1,818 Employee Cost 300 235 279 578 462 Other Expenses 203 167 176 378 307 E
Slide 18: Historical Income Statement Consolidated
Historical Income Statement Consolidated (Rs. Crores) Particulars FY22 FY23 FY24 FY25 FY26 Revenue from Operations 2,976 4,300 4,651 5,056 6,185 COGS 1,876 2,777 2,924 3,146 3,900 Gross Profit 1,100 1,523 1,727 1,910 2,286 Gross Profit Margin 36.9% 35.4% 37.1% 37.8% 37.0% EBITDA 295 461 514 575 721
Slide 19: Company - Overview
COMPANY - OVERVIEW Minda Corp. Page 18
Slide 20: Schematic Representation of Minda Corporation
Schematic Representation of Minda Corporation Subsidiaries Minda Instruments Ltd. 35.2% Spark Minda Toyodenso Spark Minda Green Mobility Public & Other Shareholding Minda Vietnam PT Minda Indonesia MINDA Minda Vast Access System CORPORATION LTD JVs and Associates Spark Minda Turntide 49.0% Flash Ele
Slide 21: Strategic Partnerships
Strategic Partnerships 12 Strong Partnering with domestic and global clients to drive the automotive transition Sunroof, Power Tail Gate Advanced Switches Sensors and Clusters TAIWAN JAPAN USA Motor Controllers Display Module UK CHINA Motor, Motor Controllers Mechanical Keys INDIA ITALY Connection S
Slide 22: Strong Relationship With Marquee Customers Across Segments
Strong Relationship With Marquee Customers Across Segments Commercial & Off 2-3-Wheeler Passenger Vehicles Other Market Highway vehicles Page 21
Slide 23: Well diversified product range
Well diversified product range Expanding core verticals to fuel future growth Driver 2W Information Vehicle System Access ADAS 4W iRAS Vehicle Sensor Access Vehi Sunroof Smart c (2W+4W le A & s Electronics ronic +Su n Power Lift Gate ct cc of+PLG Motor Controller e ess l ro E e Electric motors nc Mo
Slide 24: Building a complete EV systems platform with global partners
Building a complete EV systems platform with global partners Strategy From components to complete EV systems across powertrain, high voltage and charging Flash Electronics Turntide Technologies SANCO Spark Minda Green Mobility 49% associate 49:51 joint venture, UK Technology license 100% Subsidiary
Slide 25: Business Segments
Business Segments Transforming Current Business Lines as per Technology Trends Vehicle Wiring Harness & Clusters, ADAS Die Casting & Interior EV Power Access Connectors & Sensors Plastic Electronics Intelligent & Electrical Distribution Connected & Light Weight & EV Drive Train Smart Systems Safe Mo
Slide 26: Innovation & Engineering for New Age Solutions
Innovation & Engineering for New Age Solutions R&D Expenditure (% of Revenue) R&D Process 4.3% • Transforming from mechatronics to advance technology provider 3.1% 3.2% • Focused towards innovating new technology and developing advance automotive products 1.3% 1.4% • State of art technology center i
Slide 27: Comprehensive solutions for 2W
Comprehensive solutions for 2W TFT Instrument Telematics Cluster Keyless Entry System TPMS Battery Charger TMAP Mechanical Electronic Lockset Handle Lock Vehicle Control Unit EVSE Temperature Sensors Die Casting Product Handlebar Switches Tilt Sensors DC-DC Converter High Voltage Wiring Harness Conn
Slide 28: Comprehensive solutions for 4W
Comprehensive solutions for 4W Around view Sunroof Digital Clusters & Key Fob Mechanical / Electronic Antenna System Interior Plastics Roof Module Power Lift Monitoring System Cockpit Switches Steering Column Lock Axial flux motors Gate System Immobilizer EGT Sensor DC DC Converter Speed Sensor High
Slide 29: Comprehensive Solutions for Commercial Vehicle/Bus
Comprehensive Solutions for Commercial Vehicle/Bus Digital/TFT Cluster Air Vent Battery Cables EV Busbars Position Sensor Axial flux motor s EGT Sensor Immobilizer Soot Module Sensor Die Castings Ignition Switch Cum Steering Lock Cylinder Head Cover Speed Sensor Fuse Box Plastic Oil Pan Temperature
Slide 30: Disclaimer
Disclaimer This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Minda Corporation Limited (“Minda Corp” or the Company) future business d