Minda Corporation Ltd
MINDACORPMinda Corporation Ltd is strength at full price. The numbers are improving — and a P/E at the 80th percentile of its own range says the market knows.
The sharpest disagreement: the engine is strong, but at the 80th percentile of its own range you are paying full price for it.
The price is in a confirmed uptrend (8 weeks in) while the P/E sits at the 80th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +138.5% year on year, and 179% of the last 3 years' profit arrived as cash. What settles it: whether the earnings grow into the multiple.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Minda Corporation Ltd trades at ₹701, in a confirmed uptrend and 8 weeks into that stage. That is +18.9% against its own 200-day average. It sits at 96% of a 52-week range of ₹481 to ₹710. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 17 straight weeks.
Today the stock is in a confirmed uptrend — week 8 of stage 2, confirmed. At ₹701 it trades +18.9% versus its 200-day average and sits at 96% of its 52-week range (₹481–₹710).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +631% while the NIFTY 500 moved +276% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 17 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Minda Corporation Ltd trades at 47.1× P/E, at the pricey end of its own range (80th percentile). Its long-run median P/E is 28.5×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 47.1× is at the pricey end of its own range (80th percentile), against a long-run median of 28.5× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +41.1% against a +43.0% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +38.2%/yr price move, ~+30.6%/yr came from earnings growth and ~+7.6 pp from the multiple (expanding); over 10y, of the +19.5%/yr price move, ~+11.6%/yr came from earnings growth and ~+7.9 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Minda Corporation Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 7 quarters ago at −11.2% and has held its recovery at +40.4%, ROCE holding at 16.2%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +22.3% | +12.9% | +21.2% | +9.8% |
| Profit | +40.4% | +8.0% | +46.5% | +12.5% |
| EPS | +41.1% | +8.2% | +46.8% | +11.4% |
| Share price | +43.0% | +31.6% | +38.2% | +19.5% |
4-Factor Sector Score
55.9/100 — rank 9 of 20 in Auto Ancillaries - Diversified · 90% evidence confidence
Minda Corporation Ltd scores 55.9 out of 100 against the 20 companies it is compared with in Auto Ancillaries - Diversified, ranking 9. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 23 + 10.8 + 8.5 + 13.6 = 55.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Minda Corporation Ltd reported ₹1,704 Cr of revenue in the Mar 26 quarter, +29.0% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 9.8% a year. The last full year, FY26, came in at ₹6,185 Cr. The last four reported quarters add to ₹6,185 Cr.
FY26 revenue came in at ₹6,185 Cr (+22.3% on the year), capping 10 years at 9.8% compound. The latest quarter (Mar 26) printed ₹1,704 Cr, +29.0% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +22.2% growth against the decade's 9.8% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +22.3% over the last 4 quarters against +15.3%/yr over the last 8 — accelerating; TTM profit +40.4% vs +25.6%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Minda Corporation Ltd's operating margin is 12.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 8.0% to 12.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 12.0%, +0.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0%–12.0%, and FY26's 12.0% is the top of that band — a record year.
Why the margin moved: operating margin went +0.4 pp year on year while gross margin went −2.9 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Minda Corporation Ltd earned ₹124 Cr of net profit in the Mar 26 quarter, +138.5% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹358 Cr. The 10-year compound rate is 12.5%. That is 7.3% of the quarter's revenue. The same quarter a year earlier earned ₹52.0 Cr.
Mar 26 profit was ₹124 Cr, +138.5% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹358 Cr (+40.4%), and the 10-year compound rate is 12.5%.
Why profit moved: revenue contributed +29.0% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +46.0% vs revenue +22.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 179% of Minda Corporation Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹676 Cr of operating cash against ₹358 Cr of profit. After ₹398 Cr of capital spending, ₹278 Cr was left as free cash.
FY26: operating cash of ₹676 Cr against reported profit of ₹358 Cr, leaving free cash of ₹278 Cr after ₹398 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 179% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 179%: the cash cycle tightened 23 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 2.1× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Minda Corporation Ltd's cash conversion cycle runs 18 days in FY26, down from 41 days in FY21. Capital spending ran ₹1,249 Cr over the last 3 years. At FY26 sales of ₹6,185 Cr each day of that cycle holds about ₹16.9 Cr, so roughly ₹305 Cr sits inside the business at any moment.
FY26: debtors at 59 days, inventory at 66 days — roughly 2.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 18 days, tighter than FY21's 41.
The full loop: cash goes out to suppliers and production on day 0; stock waits 66 days to sell; customers pay about 59 days after that; and suppliers themselves are paid at 107 days — netting out to the 18-day cycle.
In money terms: at FY26 sales of ₹6,185 Cr, each day of the cycle holds about ₹16.9 Cr — so the 18-day loop keeps roughly ₹305 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹1,249 Cr over the last 3 fiscal years against ₹600 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹158 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Minda Corporation Ltd earns a ROCE of 13% in FY26. That is up from a trough of 10% in FY21. Return on invested capital clears the cost of that capital by −2.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 5.8% net margin on 1.13× asset turns.
FY26 ROCE is 13%, recovered from a FY21 trough of 10% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 5.8% net margin × 1.13× asset turns × 2.08× balance-sheet leverage ≈ 13.6% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 9.7% − 12.0% = a −2.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Minda Corporation Ltd carries total debt of ₹1,471 Cr against shareholder equity of ₹2,659 Cr as of Mar 26, a debt-to-equity of 0.55. On the annual view that ratio went from 0.38 in FY22 to 0.55 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹1,471 Cr against shareholder equity of ₹2,659 Cr — a debt-to-equity of 0.55. On the annual view, debt-to-equity went from 0.38 (FY22) to 0.55 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions added 3.2 points of Minda Corporation Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 9.3% of the company. Domestic institutions moved −2.8 points over the same window, to 17.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +3.2 points over 8 quarters to 9.3%; Domestic institutions: −2.8 points over 8 quarters to 17.9%; Promoters: +0.0 points over 8 quarters to 64.8%.
Why the register moved: rotation — foreign institutions +3.2 points against domestic institutions −2.8 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Minda Corporation Ltd: the Z-score reads 4.58. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
Why it matters: a Z-score of 4.58 sits well clear of the distress zone — the balance sheet is not the risk here.
The safety line in one sentence: the Z-score reads 4.58.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1S J S Enterprises LtdSJS | 76.2/100Favorable setup93% evidence | LEADER | 27.8/35 Revenue 25.5% · PAT 44.5% · OPM change 4 pp 83% evidence | 21.3/25 ROCE 28.6% · OPM 29% 95% evidence | 9.7/20 P/E 45.1× · PEG 0.85 100% evidence | 17.4/20 RS sector 20.5% · RS bench 35.6% · 1Y 91.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.8 + 21.3 + 9.7 + 17.4 = 76.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Jay Bharat Maruti LtdJAYBARMARU | 72.1/100Favorable setup83% evidence | BREAKING OUT | 27.4/35 Revenue 11.4% · PAT 100% · OPM change 3 pp 83% evidence | 11.6/25 ROCE 16.6% · OPM 12% 95% evidence | 14.4/20 P/E 12.4× · PEG — 50% evidence | 18.7/20 RS sector 34.6% · RS bench 50.4% · 1Y 121.3%10 of 12 weeks ahead 100% evidence |
| Exact sum: 27.4 + 11.6 + 14.4 + 18.7 = 72.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Automobile Corporation Of Goa LtdAUTOCORP | 68.6/100Favorable setup78% evidence | BREAKING OUT | 27.0/35 Revenue 41.1% · PAT 48.9% · OPM change 0 pp 83% evidence | 17.3/25 ROCE 29.6% · OPM 9% 76% evidence | 12.8/20 P/E 18.3× · PEG — 50% evidence | 11.5/20 RS sector -1.4% · RS bench 11.3% · 1Y 21.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27 + 17.3 + 12.8 + 11.5 = 68.6 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 4Carraro India LtdCARRARO | 65.7/100Favorable setup89% evidence | FADING | 25.4/35 Revenue 24.8% · PAT 47.2% · OPM change 0 pp 88% evidence | 19.9/25 ROCE 29.5% · OPM 10% 100% evidence | 15.7/20 P/E 22.2× · PEG 0.66 65% evidence | 4.7/20 RS sector -9.1% · RS bench 2.8% · 1Y 10.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 25.4 + 19.9 + 15.7 + 4.7 = 65.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -9.1% and the one-year return is 10.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 5Lumax Auto Technologies LtdLUMAXTECH | 63.1/100Mixed-positive evidence96% evidence | ASLEEP | 26.2/35 Revenue 33.9% · PAT 47% · OPM change 0 pp 88% evidence | 18.1/25 ROCE 21.4% · OPM 14% 100% evidence | 12.2/20 P/E 37.2× · PEG 0.75 100% evidence | 6.6/20 RS sector -6.4% · RS bench 5.8% · 1Y 51.2%1 of 12 weeks ahead 100% evidence |
| Exact sum: 26.2 + 18.1 + 12.2 + 6.6 = 63.1 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -6.4% and the one-year return is 51.2%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 6Sansera Engineering LtdSANSERA | 58.8/100Mixed-positive evidence96% evidence | LEADER | 26.1/35 Revenue 15.9% · PAT 50.2% · OPM change 3 pp 88% evidence | 14.0/25 ROCE 14.1% · OPM 19% 100% evidence | 3.5/20 P/E 62.1× · PEG 2.22 100% evidence | 15.2/20 RS sector 41.5% · RS bench 58% · 1Y 146.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.1 + 14 + 3.5 + 15.2 = 58.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7OBSC Perfection LtdOBSCP | 58.0/100Mixed-positive evidence72% evidence | LEADER | 14.6/35 Revenue 0.1% · PAT 15.7% · OPM change 1.3 pp 71% evidence | 14.7/25 ROCE 19.5% · OPM 17.1% 95% evidence | 8.7/20 P/E 62.9× · PEG — 15% evidence | 20.0/20 RS sector 57.5% · RS bench 75.9% · 1Y 135.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 14.6 + 14.7 + 8.7 + 20 = 58 · Decision use: Price leads the evidence: RS versus the benchmark is 75.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 8Samvardhana Motherson International LtdMOTHERSON | 56.3/100Mixed-positive evidence96% evidence | LEADER | 15.1/35 Revenue 10.9% · PAT -1.4% · OPM change 2 pp 88% evidence | 10.9/25 ROCE 13.4% · OPM 11% 100% evidence | 13.9/20 P/E 37.3× · PEG 0.76 100% evidence | 16.4/20 RS sector 9.8% · RS bench 23.7% · 1Y 50.2%11 of 12 weeks ahead 100% evidence |
| Exact sum: 15.1 + 10.9 + 13.9 + 16.4 = 56.3 · Decision use: Price leads the evidence: RS versus the benchmark is 23.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 9Minda Corporation Ltdthis pageMINDACORP | 55.9/100Mixed-positive evidence90% evidence | TURNING | 23.0/35 Revenue 22.3% · PAT 40.4% · OPM change 0 pp 88% evidence | 10.8/25 ROCE 12.7% · OPM 12% 100% evidence | 8.5/20 P/E 47.1× · PEG 1.58 100% evidence | 13.6/20 RS sector 1.8% · RS bench 20.5% · 1Y 37.2%9 of 11 weeks ahead 70% evidence |
| Exact sum: 23 + 10.8 + 8.5 + 13.6 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Bosch LtdBOSCHLTD | 54.0/100Mixed-positive evidence78% evidence | BREAKING OUT | 20.0/35 Revenue 10.8% · PAT 37.5% · OPM change 1 pp 83% evidence | 17.5/25 ROCE 21.5% · OPM 14% 76% evidence | 6.5/20 P/E 58× · PEG — 50% evidence | 10.0/20 RS sector -4.4% · RS bench 8.2% · 1Y 8.6%10 of 12 weeks ahead 100% evidence |
| Exact sum: 20 + 17.5 + 6.5 + 10 = 54 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 11Varroc Engineering LtdVARROC | 53.2/100Mixed-positive evidence83% evidence | TURNING | 17.1/35 Revenue 9% · PAT 100% · OPM change -2 pp 88% evidence | 11.7/25 ROCE 19% · OPM 9% 100% evidence | 15.1/20 P/E 41× · PEG 0.63 65% evidence | 9.3/20 RS sector -8.4% · RS bench 14.6% · 1Y 26.2%9 of 11 weeks ahead 70% evidence |
| Exact sum: 17.1 + 11.7 + 15.1 + 9.3 = 53.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Suprajit Engineering LtdSUPRAJIT | 51.7/100Mixed-positive evidence90% evidence | TURNING | 23.6/35 Revenue 16.7% · PAT 86.7% · OPM change 2 pp 88% evidence | 11.8/25 ROCE 16% · OPM 12% 100% evidence | 5.3/20 P/E 37× · PEG 5.51 100% evidence | 11.0/20 RS sector -2.4% · RS bench 10.2% · 1Y 8.2%8 of 11 weeks ahead 70% evidence |
| Exact sum: 23.6 + 11.8 + 5.3 + 11 = 51.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Endurance Technologies LtdENDURANCE | 49.4/100Mixed-negative evidence96% evidence | BREAKING OUT | 17.8/35 Revenue 26.3% · PAT 13.8% · OPM change 0 pp 88% evidence | 14.1/25 ROCE 17.8% · OPM 14% 100% evidence | 7.4/20 P/E 41.6× · PEG 2.74 100% evidence | 10.1/20 RS sector -8.5% · RS bench 3.7% · 1Y 6.9%9 of 12 weeks ahead 100% evidence |
| Exact sum: 17.8 + 14.1 + 7.4 + 10.1 = 49.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14NDR Auto Components LtdNDRAUTO | 48.7/100Mixed-negative evidence77% evidence | TURNING | 18.5/35 Revenue 15.4% · PAT 17% · OPM change 1 pp 83% evidence | 15.8/25 ROCE 22.2% · OPM 12% 95% evidence | 9.7/20 P/E 31.1× · PEG — 50% evidence | 4.7/20 RS sector -22.4% · RS bench -4.3% · 1Y -20.6%9 of 10 weeks ahead 70% evidence |
| Exact sum: 18.5 + 15.8 + 9.7 + 4.7 = 48.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Sharda Motor Industries LtdSHARDAMOTR | 47.1/100Mixed-negative evidence90% evidence | ASLEEP | 12.5/35 Revenue 19.8% · PAT 9.5% · OPM change -1 pp 88% evidence | 18.5/25 ROCE 36% · OPM 12% 100% evidence | 11.5/20 P/E 15.1× · PEG 2.02 100% evidence | 4.6/20 RS sector -16.8% · RS bench -6.9% · 1Y -18.2%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12.5 + 18.5 + 11.5 + 4.6 = 47.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Motherson Sumi Wiring India LtdMSUMI | 40.0/100Mixed-negative evidence90% evidence | ASLEEP | 10.7/35 Revenue 23.1% · PAT 3% · OPM change -3 pp 88% evidence | 15.9/25 ROCE 38.9% · OPM 8% 100% evidence | 7.1/20 P/E 43.1× · PEG 6.28 100% evidence | 6.3/20 RS sector -6.9% · RS bench -6.5% · 1Y 0.3%0 of 10 weeks ahead 70% evidence |
| Exact sum: 10.7 + 15.9 + 7.1 + 6.3 = 40 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Munjal Auto Industries LtdMUNJALAU | 34.0/100Adverse evidence77% evidence | TURNING | 11.2/35 Revenue 11.1% · PAT 18.2% · OPM change -3.7 pp 83% evidence | 5.0/25 ROCE 11.1% · OPM 3% 95% evidence | 9.0/20 P/E 28.7× · PEG — 50% evidence | 8.8/20 RS sector -8.8% · RS bench 16% · 1Y 31.9%10 of 10 weeks ahead 70% evidence |
| Exact sum: 11.2 + 5 + 9 + 8.8 = 34 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18ZF Commercial Vehicle Control System India LtdZFCVINDIA | 33.8/100Adverse evidence100% evidence | BASING | 10.5/35 Revenue 9% · PAT 3.1% · OPM change 0 pp 100% evidence | 13.3/25 ROCE 19.4% · OPM 13% 100% evidence | 8.1/20 P/E 54.5× · PEG 4.2 100% evidence | 1.9/20 RS sector -81.5% · RS bench 0.8% · 1Y -82.1%0 of 12 weeks ahead 100% evidence |
| Exact sum: 10.5 + 13.3 + 8.1 + 1.9 = 33.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Precision Camshafts LtdPRECAM | 30.9/100Adverse evidence77% evidence | ASLEEP | 9.7/35 Revenue -10.6% · PAT -5.6% · OPM change 0 pp 83% evidence | 8.0/25 ROCE 7.3% · OPM 13% 95% evidence | 9.6/20 P/E 54.1× · PEG — 50% evidence | 3.6/20 RS sector -32% · RS bench -13.9% · 1Y -25.4%6 of 10 weeks ahead 70% evidence |
| Exact sum: 9.7 + 8 + 9.6 + 3.6 = 30.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Mercury EV-Tech LtdMERCURYEV | 23.8/100Adverse evidence70% evidence | TURNING | 8.3/35 Revenue 13.9% · PAT -47.2% · OPM change -8.7 pp 83% evidence | 3.5/25 ROCE 2.6% · OPM -11.6% 95% evidence | 8.5/20 P/E 159× · PEG — 15% evidence | 3.5/20 RS sector -39% · RS bench -8.8% · 1Y -27.7%2 of 7 weeks ahead 70% evidence |
| Exact sum: 8.3 + 3.5 + 8.5 + 3.5 = 23.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Minda Corporation Ltd's share price today?
Minda Corporation Ltd trades at ₹701, +43.0% over the past year. The company is valued at ₹16,758 Cr. The stock sits at 96% of its 52-week range of ₹481–₹710, +18.9% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 8 weeks in. — as of 31 July 2026.
What were Minda Corporation Ltd's latest quarterly results?
Minda Corporation Ltd reported revenue of ₹1,704 Cr and net profit of ₹124 Cr for the Mar 26 quarter. Revenue rose 29.0% and profit rose 138.5% year on year. Earnings per share were ₹5.21. The operating margin was 12.0%, 0.0 pp higher than a year earlier. — as of 31 July 2026.
What is Minda Corporation Ltd's revenue?
Minda Corporation Ltd reported revenue of ₹1,704 Cr in the Mar 26 quarter, +29.0% year on year. For the full FY26 fiscal year, revenue was ₹6,185 Cr (+22.3%). Over the last 10 years revenue compounded at 9.8% a year. — as of 31 July 2026.
What is Minda Corporation Ltd's profit?
Minda Corporation Ltd earned ₹124 Cr of net profit in the Mar 26 quarter, +138.5% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹358 Cr. The operating margin ran 12.0% in the latest quarter. — as of 31 July 2026.
What is Minda Corporation Ltd's market cap?
Minda Corporation Ltd's market capitalisation is ₹16,758 Cr at a share price of ₹701. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Minda Corporation Ltd's P/E ratio?
Minda Corporation Ltd trades at a P/E of 47.1×, at the 80th percentile of its own 10-year range, against a long-run median of 28.5×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Minda Corporation Ltd pay a dividend?
Yes — Minda Corporation Ltd's dividend payout was 9% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. One of those years shows a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.
Is Minda Corporation Ltd overvalued?
On its own history, Minda Corporation Ltd looks expensive against its own history: its P/E of 47.1× sits at the 80th percentile of its 10-year range (long-run median 28.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.
Is Minda Corporation Ltd growing?
Yes — Minda Corporation Ltd is growing: latest-quarter revenue +29.0% year on year, profit +138.5%, and the margin +0.0 pp at 12.0%. The 10-year compound rates are 9.8% (revenue) and 12.5% (profit). The earnings engine currently reads: improving — as of 31 July 2026.
How is Minda Corporation Ltd performing?
Minda Corporation Ltd is in a confirmed uptrend, 8 weeks in. Its latest quarter's revenue rose 29.0% and profit rose 138.5% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 17 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Minda Corporation Ltd in?
Improving — profit growth bottomed 7 quarters ago at −11.2% and has held its recovery at +40.4%, ROCE holding at 16.2%. The read comes from the last 12 quarters of growth (revenue growth +22.3% latest, profit growth +40.4% latest, eps growth +40.9% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Minda Corporation Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 8 of stage 2), trading +18.9% versus its 200-day average and at 96% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.
Is Minda Corporation Ltd beating the market?
On recent form, yes — Minda Corporation Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 17 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +631% against the NIFTY 500's +276% — ahead of the index over the full window. — as of 31 July 2026.
Will Minda Corporation Ltd's share price go up?
This page publishes no price forecast for Minda Corporation Ltd. What it measures instead: the share price is ₹701, the price is in a confirmed uptrend 8 weeks in. Its P/E of 47.1× sits at the 80th percentile of its own 10-year range. — as of 31 July 2026.
Who owns Minda Corporation Ltd?
Promoters hold 64.8% of Minda Corporation Ltd, foreign institutions 9.3%, domestic institutions 17.9% and the public 6.4% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 3.2 points over 8 quarters. — as of 31 July 2026.
Does Minda Corporation Ltd have too much debt?
It is moderate — Minda Corporation Ltd's debt-to-equity is 0.56, and operating profit covers the interest bill 6×. FY26 borrowings were ₹1,476 Cr against equity of ₹2,639 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is Minda Corporation Ltd's capex?
Minda Corporation Ltd spent ₹1,249 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹398 Cr, with ₹158 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Minda Corporation Ltd's cash flow?
Minda Corporation Ltd generated ₹676 Cr of operating cash flow in FY26 and ₹278 Cr of free cash flow after ₹398 Cr of capital spending. Reported profit that year was ₹358 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Minda Corporation Ltd's profit real cash?
Yes — over the last 3 fiscal years, 179% of Minda Corporation Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹676 Cr against reported profit of ₹358 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.
How financially safe is Minda Corporation Ltd?
On the balance sheet, the Z-score reads 4.58 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 31 July 2026.
Where is Minda Corporation Ltd in its business cycle?
Minda Corporation Ltd's FY26 operating margin was 12.0%, against a 13-year band of 8.0%–12.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 12.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Minda Corporation Ltd story?
The sharpest disagreement: the engine is strong, but at the 80th percentile of its own range you are paying full price for it. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.
Is Minda Corporation Ltd a stock worth studying right now?
This is not investment advice. The machine read: Minda Corporation Ltd is strength at full price. The numbers are improving — and a P/E at the 80th percentile of its own range says the market knows. The sharpest open question: whether the earnings grow into the multiple. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.