The company, a subsidiary of the Spark Minda Group, is a leading manufacturer of diverse auto components such as locksets, wiring harnesses, plastics, clusters, and DCD, and supplies them to original equipment manufacturers in the 2W/3W, CV, PV, and off-the-road segments, as well as in the aftermarket.
Minda Corporation Ltd shares were trading at Rs 338.50 on the National Stock Exchange on Tuesday, down 0.10 percent, and the company has a market capitalization of Rs 8,067 crore.
Minda Corporation Limited is a diversified company with a product portfolio encompassing Mechanical and Electronic Security Systems, Door Systems, Electronic Controllers for Electric Vehicles, Plastic Interiors, and Auto OEMs across the Globe.
Minda Corp has ventured into producing smart keys, currently enjoying a monopoly with a 100% market share. Minda Corp is the only company that has been able to produce smart keys in-house due to its competence and resources in RFID technology specialists. Ventura Securities reported.
Minda Corp has a diversified auto components business, with locksets accounting for 26%, wiring harnesses accounting for 30%, plastics and clusters accounting for 12%, DCD accounting for 17%, and others accounting for 15% of business divisions.
In fiscal year 2022-23. The company has achieved a marquee year in the two-wheeler smart key industry, accounting for more than 10% of overall two-wheeler lockset revenue. Collaborations with important clients, including global leaders in both ICE and EV two-wheeler OEMs, have contributed to this achievement.
The company’s share price has delivered a return of 28 percent in the previous six months, and 69 percent in the year.
The company’s revenue climbed 44 percent yearly, rising from Rs 2,975 crore in FY 21-22 to Rs 4,300 crore in FY 22-23. Similarly, net profit increased by 60 percent, rising from Rs 184 crore to Rs 294 crore.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
