Slide 1: Minda Corporation Investor Presentation Q2 and H1 FY2026
Minda Corporation INVESTOR PRESENTATION Q2 and H1 FY2026 w w w. s p a r k m i n d a . c o m
Slide 2: Minda at a Glance
Minda at a Glance A significant player in the global automotive industry for over six decades Vision ₹ 7,472 Cr ₹ 5,056 Cr 32 18,000+ Be a Dynamic, Innovative and Profitable global automotive organization to emerge as the preferred supplier and FY25 Group Revenue* FY25 Consol Revenue Manufacturing P
Slide 3: Indian Automotive Industry Performance
Indian Automotive Industry Performance Production Volumes in Millions Q2 FY26 Growth (Y-o-Y) Q2 FY26 Growth (Q-o-Q) 10.1% 15.6% 17.4% 10.6% 9.20 9.20 8.36 7.95 6.93 6.93 6.26 5.90 14.6% 10.9% 18.3% 4.2% 9.8% 2.6% 39.3% 6.5% 1.27 1.33 1.24 1.33 0.28 0.32 0.24 0.26 0.30 0.36 0.29 0.32 0.26 0.26 0.26 0
Slide 4: Q2 & H1 FY26 Business Performance
Q2 & H1 FY26 Business Performance Key Strategic Developments Q2 FY2026 H1 FY2026 Highest ever Quarterly Revenue of Rs. 1,535 crore Revenue growth of 18.0% YoY despite challenging growth of 19.0% YoY macro-economic scenario EBITDA margin stood at 11.6% for Q2FY26, growth H1 EBITDA margin of 11.4%, gr
Slide 5: Business Highlights Q2FY26
Business Highlights Q2FY26 EV wiring harnesses TFT cluster Won a strategic order for high-voltage Order won for TFT cluster from a EV wiring harnesses from one of the leading Indian passenger vehicle OEM leading PV OEM for their upcoming model launch Sunroof Systems Switches Secured a first life tim
Slide 6: Q2 & H1 FY2026 Financial Highlights
Q2 & H1 FY2026 Financial Highlights Growth Momentum Continues Rs. In Crore Revenue EBITDA PAT YoY 19% YoY 21% YoY 14% 1,535 178 1,290 1,386 147 156 85 74 Q2 FY26 65 11.4% 11.3% 11.6% 5.8% 5.5% 11% 14% 4.7% 30% Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 EBITDA EBITDA Marg
Slide 7: Business Vertical Performance Q2 and H1 FY2026
Business Vertical Performance Q2 and H1 FY2026 Rs. In Crore YoY YoY 12% 12 % Mechatronics and Aftermarket: 1,362 Aftermarket and Others 639 650 712 1,213 • Strong demand in domestic 2W segment Mechatronics, • Subdued Export demanded in the European market 10% • Slowdown in ASEAN Market Q2 FY25 Q1 FY
Slide 8: Revenue Break-Up Q2 FY2026
Revenue Break-Up Q2 FY2026 By Products By Geography By End Market SE Asia Europe & North America 5% Q2FY25 Q2FY26 Others 7% 17% 2-3 Wheelers WH 29% 47% 45% Clusters Q2 Q2 16% FY25 FY25 Die Vehicle Commercial Vehicles* Casting Access India 15% 23% 88% 26% 29% SE Asia Europe & North Passenger Vehicles
Slide 9: Strategic Partnership with Flash Electronics
Strategic Partnership with FLASH ELECTRONICS Financial & Other Highlight (FY25) Flash Financial Performance (Q2 & H1 FY26) Revenue EBITDA EBITDA (%) Free Cash Flow EV Revenue Q2 FY26 H1 FY26 Rs. 1,537 Cr Rs. 223 Cr 14.5% Rs. 37 Cr 23% Business Verticals Manufacturing Facilities Revenue from Operatio
Slide 10: Consolidated Leverage Position H1 FY2026
Consolidated Leverage Position H1 FY2026 Particulars (Rs. Crore) Mar 31st, 2024 Mar 31st , 2025 Sep 30th , 2025 Net Worth 1,981 2,202 2,440 Long Term Borrowings* 203 528 581 Short Term Borrowings 145 816 702 Gross Debt 348 1,344 1,284 Less: Cash & Cash Equivalents 192 97 118 Net Debt 156 1,247 1,165
Slide 11: Strategic Priorities to Deliver Strong Growth
Strategic Priorities to Deliver Strong Growth Investment in existing Business New Product New Market Premiumization Investment in Launch Export Focus of Existing Products R&D
Slide 12: Investing in Capabilities for Adjacent Businesses
We continue to focus and invest in capabilities to attain leadership position in Adjacent Businesses Continuously expanding manufacturing capabilities with a capital expenditure of Rs. 220 crore in H1 FY26. Diecasting Pune - 5th Plant Planned capital expenditure of approximately Rs. 2,000 crore over
Slide 13: Establishing New Facilities
Establishing New facilities Diecasting Pune - 5th Plant SMAD Bawal (Brownfield) Diecasting Gr. Noida – 4th Plant Minda Instrument Cluster Plant Pune Minda Toyodenso Wiring Harness Component Division Page 13
Slide 14: Strategic Priorities to Deliver Strong Growth
Strategic Priorities to Deliver Strong Growth New Product Launch Investment in New Market Premiumization Investment in existing Business Export Focus of Existing Products R&D
Slide 15: New Product Launch Driving Growth
New Product Launch Driving Growth: Entry into New-Age Product Categories Sunroof and PLG Switches EV Products • Technological agreement with • Secured a first order for sunroof • Secured a significant order from a SANCO China from a leading OEM leading 2-wheeler OEM • Focus on the localization • New
Slide 16: Strategic Priorities to Deliver Strong Growth
Strategic Priorities to Deliver Strong Growth New Market New Market Export Focus Export Focus Investment in New Product Premiumization Investment in existing Business Launch of Existing Products R&D
Slide 17: Accelerating Export Growth to Capture Global Markets
Accelerating Export Growth to Capture Global Markets Shifting global trade and a cost advantage position India's auto component industry for healthy export growth. 8% 9% FY21 FY25 FY30 CAGR 18% CAGR 29% Rs. 220 Cr Rs. 420 Cr Rs. 1,500 Cr ➢ Exports grew 16% YoY in Q2 FY26, driven by increasing tracti
Slide 18: Strategic Priorities to Deliver Strong Growth
Strategic Priorities to Deliver Strong Growth Premiumization of Existing Products Investment in New Product New Market Investment in existing Business Launch Export Focus R&D
Slide 19: Business Segments Transforming Current Business Lines
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 20: Strategic Priorities to Deliver Strong Growth
Strategic Priorities to Deliver Strong Growth Investment in R&D Investment in New Product New Market Premiumization existing Business Launch Export Focus of Existing Products
Slide 21: 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% • Focused towards innovating new technology and developing advance automotive products • State of art technology center in India 1.3% 1.
Slide 22: CSR and ESG
CSR and ESG
Slide 23: ESG Transforming Towards Sustainable Mobility
ESG Transforming Towards Sustainable Mobility Sustainable Responsible Care For People Ethical Business Inclusive Growth Operations Value Chain SMGM received GOLD rating 1,400+ learners trained on Spark Minda Sustainable 1000+ accessible and assistive Addressed and resolved in TVSM Sustainability Ind
Slide 24: Corporate Social Responsibility
Corporate Social Responsibility BVokal Award- Saksham: Parivartan Category FICCI Award - Inclusive Development of PWDs Saksham Camp for PwDs- Noida Saksham camp for PwDs- Pune CII Award- Best Employer-Inclusive Recruitment Convocation (Cycle 1): Aakarsshan Centre, (Large Company) Haryana Page 24
Slide 25: Awards & Achievement Q2 & H1 FY2026
Awards & Achievement Q2 & H1 FY2026 Business Vertical – Business Vertical Business Vertical – 1 (Mechatronics, 2 (Information & DCD – won 48 – 5 (EME & Aftermarkets & Connected System Awards during SMGM) won 17 others division) division) won 65 Q2 FY26 Awards during won 48 awards Awards during Q2 Q2
Slide 26: Annexures
Annexures
Slide 27: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Cr) Q2 FY26 Q2 FY25 YoY% Q1 FY26 QoQ% H1 FY26 H1 FY25 YoY% Revenue from Operations 1,535 1,290 19.0% 1,386 10.8% 2,921 2,482 17.7% Raw Material 956 812 862 1,818 1,559 Employee Cost 235 193 227 462 380 Other Expenses 167 138 141 307 264 EBITDA 17
Slide 28: Historical Income Statement Consolidated
Historical Income Statement Consolidated Particulars (Rs Cr) FY21 FY22 FY23 FY24 FY25 Revenue from Operations 2,368 2,976 4,300 4,651 5,056 COGS 1,493 1,876 2,777 2,924 3,146 Gross Profit 875 1,100 1,523 1,727 1,910 Gross Profit Margin 36.9% 36.9% 35.4% 37.1% 37.8% EBITDA 217 295 461 514 575 EBITDA
Slide 29: Company Overview Minda Corporation
COMPANY - OVERVIEW Minda Corporation
Slide 30: 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 CORPORATION LTD JVs and Associates Flash Electronics 49.0% Minda HCMF 50.0% 64.8% Minda Vast 50.
Slide 31: Strategic Partnerships
Strategic Partnerships 10 Strong Partnering with domestic and global clients to drive the automotive transition Motor, Motor Controller Advanced Switches Sunroof, Power Tail Gate Electrical Distribution Antenna System INDIA INDIA JAPAN TAIWAN CHINA KOREA INDIA Mechanical Keys Vehicle Access EV Charg
Slide 32: 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 32
Slide 33: 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 Starter Motor & Smart Alternator Electronics Sunroof & EV Mobility Power Lift ITS Gate 2W / 3W / 4W Fuel EV Motor EV Wiring Pump Housing Harnes
Slide 34: Board of Directors
Board of Directors Guiding The Way Forward Mr. Ashok Minda Mr. Aakash Minda Chairman & GCEO Executive Director ED of Group; an honours graduate from Cox School Over 38 years in the automotive component sector of Business and ISB; has over eight years of has forged global collaborations and spearhead
Slide 35: Leadership Team Driving Growth
Leadership Team Driving Growth Ashok Minda N.K. Modi Sumit Doseja H.N. Mishra Deepak Arora Sunil Goel Chairman & GCEO ED & CEO BV5 CEO, Aftermarket CEO, SSD CEO, Die Casting CEO, Wiring Harness Over 38 yrs of expertise in 35+yrs of experience in Over 27yrs of experience in 32+yrs of experience in 26
Slide 36: Combined Solutions for EV
Combined Solutions for EV Motor EV Kit Value -2W EV Busbar Controller Unit Offered Products Kit Value HV Wiring Harness EV Traction By (in Rs.) Connection System Motor MCL • Off Board Battery Charger 12,000-15,000 • DC-DC Converter • Charging Gun DC-DC Converter • High Voltage Wiring Harness Telemat
Slide 37: Comprehensive Solutions for 4W
Comprehensive Solutions for 4W Around view Sunroof Digital Clusters Antenna Interior Plastics EGT Sensor Monitoring System Key Fob Electronic Steering System Power Lift & Cockpit Column Lock Gate System IC CPD DC DC Converter Speed Sensor High voltage wiring EVSE harness connection system Telematics
Slide 38: Comprehensive Solutions for Commercial Vehicle/Bus
Comprehensive Solutions for Commercial Vehicle/Bus Digital/TFT Cluster Air Vent Battery Cables EV Busbars Position Sensor Intelligent Transport System EGT Sensor Immobilizer Soot Module Sensor Die Castings Ignition Switch Cum Steering Lock Cylinder Head Cover Speed Sensor Fuse Box Plastic Oil Pan E
Slide 39: 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