Minda CorporationNSE:MINDACORP
Current view Q4 2026
Spark Minda makes auto parts - wiring, locks, clusters. FY26 sales rose 22% and profit 40% on premium electronics and a Rs 10,000 crore order book, but the stock is pricey near 69 times earnings.
Latest exchange filings last 5 · 5 after Q4 2026
- 15 Sep ’26Niche assigned Minda Corporation an ESG rating of 66 on September 15, 2026. ↗
- 11 Sep ’26Issued and allotted ₹100 crore commercial paper on 11 Sep 2026, redeemable on 9 Dec 2026. ↗
- 4 Sep ’26Rs 100 crore commercial paper issued June 9, 2026 redeemed on September 4, 2026. ↗
- 31 Aug ’26Record dates announced for ₹100 crore commercial papers maturing on 04 Sep 2026 and 22 Sep 2026. ↗
- 31 Aug ’26Minda Corporation to participate in Elara Conference on 3 September 2026 in Mumbai. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +29.0% | +9.2% | +12.9% | +21.2% |
| Operating profit | ▲ +32.7% | +10.3% | +15.4% | +28.3% |
| EPS | ▲ +139.0% | +45.5% | +8.2% | +46.8% |
| PAT | ▲ +138.5% | +47.6% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +29.0%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average59/100
Growing, but too slowly to re-price. Profit per share grew 8% a year. A big re-pricing usually needs more than 15% a year, so the score is capped no matter how cheap it looks.
₹673 → ₹1,346 needs the P/E at 71× — it is 45× today, and has ranged 22× to 80× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 106× — never traded above 80× in 5 years.
Re-rated already, on growth that doesn't fully back it.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mid-cap at ₹16,010 cr, so the odds of a re-rate are not fighting its own size.
Band capped: growth of 8.2% is below the 15% bar a re-rate needs.
Growth rate used: 8.2% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%.
How it compares with its rivals Auto · 6 of 129 listed
These are the industry's largest names rather than companies of its own size, so the columns are worth reading straight across — a ranking against them would only be restating the size gap.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Minda Corp | ₹687 | 40.8× | ₹16,430 Cr | 12.7% | +64.7% | +33.2% |
| Samvardh. Mothe. | ₹164 | 38.0× | ₹1.74 L Cr | 13.4% | +81.5% | +16.6% |
| Bosch | ₹47,778 | 59.6× | ₹1.41 L Cr | 21.5% | +5.2% | +22.0% |
| Bharat Forge | ₹1,992 | 94.3× | ₹95,228 Cr | 12.6% | −57.7% | +18.7% |
| Uno Minda | ₹1,241 | 58.6× | ₹71,675 Cr | 19.6% | +1.8% | +23.8% |
| Schaeffler India | ₹4,147 | 50.2× | ₹64,822 Cr | 27.9% | +13.7% | +17.5% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | broadly flat | operating margin 11% → 11% over 3 years |
|---|---|---|
| Did the profit turn into cash? | most of it arrived as cash | 110% last year, 99% over three · free cash flow ₹311 cr, positive in 5 of 5 years |
| Is the growth borrowed? | borrowed about as much as it owns | ₹1,476 cr — 0.56× its own equity (was 0.73×) |
| Is it being collected? | collection is steady | 59 days to collect, down 1 in a year · cash cycle 18 days |
| Who has been buying? | the promoters have held steady | promoters 64.8%, 64.8% → 64.8% over 2.8 years · FIIs 9.3% (+0.5) · DIIs 17.9% (−0.3) · shareholders 96,387 → 98,747 |
| What does it earn on its capital? | earns a fair return on its capital | ROCE 12.7% · ROE 14.7% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
Against it
- Stock is trading at 6.26 times its book value
- Company has a low return on equity of 13.3% over last 3 years.
- Dividend payout has been low at 12.4% of profits over last 3 years
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.