āagman

Not investment advice. Data and computed figures, for information only.

Minda Corporation Ltd

NSE: MINDACORP
₹638.95
−₹18.20 (−2.77%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹15,213 Cr
CMP
₹638.95
52-wk High / Low
₹769 / 469
P/E
37.8
P/B
5.8
Book Value
₹110.0
Div Yield
0.22%
ROCE
13.0%
ROE
14.7%
Face Value
₹2
D/E
0.56

Price+8.5% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
8
/ 9
8 of 9 F-score tests passed
Graham Number
₹193
√(22.5 × EPS × book value per share)
ROIC
11.1%
vs 11.5% sector median
Cash flow to profit
1.89
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+23
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
13.5%
ROE × earnings retention ratio
ROE stability
2.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.50DII −0.95
Latest quarter vs the previous one
Cash-accrual divergence
−6.1%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.0x)
+Promoter holding rose by 0.1pp over the last year
+FII holding rose by 4.2pp over the last year
+Piotroski F-Score of 8/9 is in the strong band (≥7)
Watch-outs
−Latest ROCE of 13% trails the sector median of 18.5%
−Borrowings are up 162.6% since FY2016 (562 to 1476)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,0751,1961,1661,2151,1921,2901,2531,3211,3861,5351,5601,7041,846
Expenses9601,0651,0361,0761,0611,1431,1091,1681,2301,3571,3771,5001,635
Operating Profit115131130139132147144153156178184203212
OPM %10.7%11.0%11.1%11.4%11.1%11.4%11.5%11.6%11.3%11.6%11.8%11.9%11.5%
Other Income222108129333−18126
Interest14151412101112343331293031
Depreciation39414244465150575657585969
Profit before tax6377769284969065719397123237
Net Profit4559527164746552658584124206
EPS (₹)1.892.462.202.962.693.112.712.182.733.543.585.218.62

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,9652,4352,0602,5943,0922,8132,3682,9764,3004,6515,0566,1856,646
Expenses1,7782,2061,8682,3162,7972,5582,1482,6803,8374,1344,4805,4635,869
Operating Profit188229192278295256220296463517576722776
OPM %9.6%9.4%9.3%10.7%9.5%9.1%9.3%9.9%10.8%11.1%11.4%11.7%11.7%
Other Income2329272780−238−85616153214136
Interest3937304051543932425769123121
Depreciation607458748811894112138166204230242
Profit before tax111147131191236−15480208298308336384550
Net Profit88110102143169−20053192284227255358499
EPS (₹)4.285.124.886.827.45−8.792.218.0311.909.5010.6815.0720.95

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital414242424545484848484848—
Reserves4065075806941,1459251,0941,2781,5381,9282,1502,591—
Borrowings5215625497286856255325117185401,6141,476—
Other Liabilities4536603775875667326547319059111,0621,372—
Total Liabilities1,4221,7711,5482,0512,4422,3272,3282,5673,2093,4274,8745,487—
Fixed Assets5717195307117325706138871,0261,2071,5071,602—
CWIP1513741621281832856385158—
Investments295126139165176180644513481,4761,558—
Other Assets8071,0348181,1841,5241,5521,5171,5831,6471,8091,8062,169—
Total Assets1,4221,7711,5482,0512,4422,3272,3282,5673,2093,4274,8745,487—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity−18304226487020945086167387287544676
Cash from Investing Activity−136−53−158−158−200−402−137−19212−425116−1,409−381
Cash from Financing Activity133−238−2967122203−24965−16174−358788−267
Net Cash Flow−201339−43−81164−42183744−7627

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.016.016.012.018.016.011.010.012.016.015.013.013.0
ROE %————————————14.7
EPS (₹)3.794.285.124.886.827.45−8.792.218.0311.909.5010.6815.07
Book Value (₹)————————————110.0
Face Value (₹)————————————2
P/E————————————37.8
Div Yield %————————————0.22
NPM %5.04.44.54.95.55.3−7.82.26.36.64.95.05.8
OPM %8.010.09.09.011.010.09.09.010.011.011.011.012.0
D/E1.551.171.020.880.990.580.640.470.390.450.270.730.56
P/B————————————5.8

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+10.0%
5 years+21.0%
3 years+13.0%
TTM+27.0%
Compounded profit growth
10 years+14.0%
5 years+31.0%
3 years+8.0%
TTM+57.0%
Stock price CAGR
10 years+19.0%
5 years+36.0%
3 years+23.0%
Last year+8.0%
Return on equity
10 years13.0%
5 years14.0%
3 years13.0%
Last year15.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters65.33%65.33%70.21%70.21%68.02%68.10%64.73%64.73%64.72%64.84%64.84%64.84%64.84%
FIIs0.08%0.08%0.08%2.65%7.51%8.85%6.38%4.49%5.06%5.07%8.33%8.80%9.30%
DIIs19.29%19.29%8.29%5.37%7.24%5.46%10.57%13.39%11.83%20.60%18.48%18.82%17.87%
Government—————————————
Public12.75%12.75%18.87%19.22%15.03%15.49%16.42%15.63%16.68%7.90%6.77%5.97%6.43%
No. of shareholders5,3875,38717,50527,24832,53035,36349,20183,65390,2421,00,68992,13889,48098,747
Change since Jun 2023 (pp)
Promoters −0.49FIIs +9.22DIIs −1.42Public −6.32

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-AllotmentAnnouncement under Regulation 30 (LODR)-Issue of SecuritiesClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Raising of Funds
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTSep 2025PPT

Corporate actions

As of 14 Aug 2026
14 Aug 2026DIVIDENDDividend - Re 0.80 Per Share—
13 Feb 2026DIVIDENDInterim Dividend - Re 0.60 Per Share—
14 Aug 2025DIVIDENDDividend - Rs 0.90 Per Share—
12 Feb 2025DIVIDENDInterim Dividend - Re 0.50 Per Share—
7 Aug 2024DIVIDENDDividend - Re 0.90 Per Share—
14 Feb 2024DIVIDENDInterim Dividend - Re 0.50 Per Share—
21 Jul 2023DIVIDENDDividend - Rs 0.80 Per Share—
17 Feb 2023DIVIDENDInterim Dividend - Re 0.40 Per Share—
21 Jul 2022DIVIDENDDividend - Rs 0.70 Per Share—
15 Feb 2022DIVIDENDInterim Dividend - Rs 0.30 Per Share—
1 Jul 2021DIVIDEND Dividend - Rs 0.35 Per Share—
15 Feb 2021DIVIDEND Interim Dividend - Rs 0.30 Per Sh—
17 Feb 2020DIVIDEND Int Dividend - Rs 0.35 Per Share—
19 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 0.45 Per Share—
21 Feb 2019DIVIDEND Interim Dividend - Re 0.25 Per Share—
19 Jul 2018DIVIDEND Dividend- Rs 0.35 Per Share—
22 Feb 2018DIVIDEND Interim Dividend - Re 0.25 Per Share—
10 Aug 2017DIVIDEND Dividend - Re 0.30 Per Share—
1 Mar 2017DIVIDEND Interim Dividend Re 0.20 Per Share—
14 Sep 2016DIVIDEND Annual General Meeting / Dividend Re 0.30/- Per Share—
23 Feb 2016DIVIDEND Interim Dividend - Re 0.20/- Per Share—
2 Sep 2015DIVIDEND Annual General Meeting / Dividend Re 0.20/- Per Share—
27 Feb 2015DIVIDENDInterim Dividend - Re 0.20/- Per Share—
5 Jan 2015SPLITBonus 1:1 / Face Value Split From Rs 10/- Per Share To Rs 2/- Per Share—
27 Mar 2012BONUSBonus 1:1—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman