Brief Intro
Minda Corporation Limited, the flagship of Spark Minda, has released its Q4 and FY25 financials—delivering solid growth in revenue, a record EBITDA margin, and a future-focused leap into the electric vehicle (EV) space. With a strategic investment in Flash Electronics and consistent shareholder rewards, the company has positioned itself as a strong contender in India’s evolving automotive landscape.
Quick Overview: Minda Corp’s Strong Finish to FY25
| Key Metrics | Q4 FY25 | FY25 (Full Year) |
|---|---|---|
| Revenue | ₹1,321 Cr (8.7% YoY) | ₹5,056 Cr (8.7% YoY) |
| EBITDA | ₹153 Cr | ₹575 Cr |
| EBITDA Margin | 11.6% (Record High) | 11.4% (Up 31 bps YoY) |
| PAT | ₹52 Cr | ₹255 Cr (12.4% YoY Growth) |
| PAT Margin | 3.9% | 5.0% |
Minda Corporation Limited (NSE: MINDACORP, BSE: 538962), the flagship of Spark Minda, has wrapped up FY25 with impressive growth, margin expansion, and a game-changing entry into the EV segment. Let’s break down how Q4 and FY25 unfolded for this automotive tech major.
Financial Breakdown: Q4 FY25 vs Q4 FY24
| Metric | Q4 FY25 | Q4 FY24 | YoY Change | Q3 FY25 | QoQ Change |
| Operating Revenue | ₹1,321 Cr | ₹1,215 Cr | +8.7% | ₹1,253 Cr | +5.5% |
| EBITDA | ₹153 Cr | ₹139 Cr | +10.3% | ₹144 Cr | +6.5% |
| EBITDA Margin | 11.6% | 11.4% | +17 bps | 11.5% | +11 bps |
| Profit Before Tax (PBT) | ₹65 Cr | ₹92 Cr | -29.6% | ₹90 Cr | -28.2% |
| PBT Margin | 4.9% | 7.5% | -263 bps | 7.2% | -226 bps |
| Profit After Tax (PAT) | ₹52 Cr | ₹71 Cr | -26.5% | ₹65 Cr | -19.7% |
| PAT Margin | 3.9% | 5.8% | -185 bps | 5.1% | -121 bps |
Despite a dip in profitability margins on a sequential basis, Minda Corp’s revenue and EBITDA growth reaffirm its operational efficiency and adaptability in a dynamic market.
EV Moves: Strategic Partnership with Flash Electronics
One of the most notable highlights of the quarter was Minda Corp’s bold foray into EV electronics. In Q4 FY25, the company acquired a 49% equity stake in Flash Electronics, aiming to co-create India’s fastest-growing EV platform.
- Minda Corp Strength: Expertise in body and access electronics
- Flash Electronics: Focused on engine and powertrain electronics
This strategic partnership brings together complementary capabilities that can power next-gen electric vehicles with integrated and smart solutions.
CEO Speaks
“FY2025 was a year of consistent execution and strategic progress. We remained focused on building core capabilities, integrating advanced technology, and fostering deep customer relationships. The Flash partnership is a testament to our innovation-led mindset.”
— Ashok Minda, Chairman and Group CEO
Shareholder Rewards: Final Dividend Declared
In recognition of its shareholders, the board has proposed a final dividend of 45% (₹0.90 per share). Including the interim payout, the total dividend for FY25 stands at 70% (₹1.40 per share). This reflects Minda Corp’s confidence in its financial stability and commitment to value creation.
FY25 vs FY24: Full-Year Performance Snapshot
| Metric | FY25 | FY24 | YoY Growth |
| Revenue | ₹5,056 Cr | ₹4,651 Cr | +8.7% |
| EBITDA | ₹575 Cr | ₹514 Cr | +11.7% |
| EBITDA Margin (%) | 11.4% | 11.1% | +31 bps |
| Profit Before Tax | ₹336 Cr | ₹308 Cr | +8.8% |
| PBT Margin (%) | 6.6% | 6.6% | Flat |
| Profit After Tax | ₹255 Cr | ₹227 Cr | +12.4% |
| PAT Margin (%) | 5.0% | 4.9% | +15 bps |
Conclusion: Accelerating Into the Future
Minda Corp’s performance in FY25 was not just about numbers—it was about direction. With steady revenue growth, record-breaking margins, and a clear push toward EV innovation, the company is transforming itself into a future-ready mobility solutions provider. The partnership with Flash Electronics further positions it at the forefront of the EV revolution.
In an industry shifting gears, Minda Corp is not just moving with the tide—it’s setting the pace.