Minda Corporation posts record Q1 2026 earnings; shares fall

Minda Corporation reported record quarterly earnings for the first three months of fiscal 2026, though its shares slipped in after-hours trading as investors focused on management’s cautious outlook.

The company, which supplies automotive components to domestic and international original equipment manufacturers, posted a net profit of ₹1.2 billion ($14.4 million) for Q1 2026, up 42% year-over-year and surpassing its previous record set in Q4 2025. Revenue rose 28% to ₹7.8 billion, driven by strong demand in passenger vehicle and two-wheeler segments.

Despite the strong financial performance, Minda’s stock fell 2.1% in extended trading after executives warned of margin pressures from rising raw material costs and supply chain disruptions. Managing Director Ashok Minda stated that while order books remain robust, input cost inflation could weigh on profitability in the second half of the fiscal year.

The company also highlighted its expansion into electric vehicle (EV) components, with a 15% increase in R&D spending to ₹320 million, aimed at capturing growth in the domestic EV market. However, management did not revise its full-year guidance, citing uncertainty around semiconductor availability and global macroeconomic conditions.

Analysts at local brokerage firms noted that while the quarterly beat was encouraging, the lack of upward guidance limited investor enthusiasm. Several maintained neutral ratings on the stock, citing valuation concerns amid elevated raw material prices.

Minda Corporation’s shares closed at ₹1,245 on the BSE on Friday, down 0.8% before the earnings announcement, and slipped further in after-hours trading.