Minda Corporation538962Investor deck

Q2 FY27 investor presentation: record revenue up 43% YoY, 11.8% margin, new orders and AA rating

Q2 FY27 investor presentation released.

By ScoutQuest · Tue 3 Nov 2026, 3:25 PM IST · 1 min read

113%EV product revenue growth YoY

Revenue growth YoY43%

CV production growth33.9%

Auto industry production growth18.2%

Industry growth18%

EV product revenue growth YoY 113%: Revenue growth YoY 43%, CV production growth 33.9%, Auto industry production growth 18.2%, Industry growth 18%.

Q2 FY27 Revenue Growth: 43% YoY (vs 18% industry growth)
Operating Margin: 11.8%
EV Product Revenue Growth: 113% YoY; 10% of company revenue
TFT Orders Lifetime Value: Over Rs. 1,000 crore
Credit Rating Upgrade: AA− upgraded to AA

Quarter at a glance

Highest ever quarterly revenue and EBITDA in Q2 FY27.
Revenue grew 43% year-on-year, versus 18% growth for the auto industry.
Margin stood at 11.8%.

EV business

EV product revenue grew 113% YoY.
EVs now contribute 10% of the company's revenue and 15% at Group level.
35% of the order book value now comes from EV products.

New orders

Multiple TFT display orders (5 inch to 12 inch) with lifetime value exceeding Rs. 1,000 crore; production start planned in FY28.
An order from a leading 3-wheeler maker for a 3.5 Kw charger, lifetime value exceeding Rs. 400 crore; production planned for Q1 next year.
First-ever power footstep order from an anchor passenger vehicle customer.
Sunroof production started in Q2 FY27.

Credit rating

Upgraded from AA− to AA, which the company says reflects an improved credit profile.

Industry backdrop

Indian auto production rose 18.2% in Q2 FY27 (9.22 to 10.90 million units). CVs grew 33.9%, PVs 24.9%, 3Ws 24.2%, 2Ws 16.5% and tractors 6.8%.

Company profile

FY26 consolidated revenue was Rs. 6,185Cr and group revenue Rs. 9,016Cr (including associates and JVs), with 42 manufacturing plants.

What it may mean

The presentation points to growth well ahead of the industry, a rising EV share and new multi-year orders. Lifetime order values are spread over several years and depend on vehicle volumes.

10%EV share of company revenue

EV share of company revenue: 10%.

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