Nuvama Institutional Equities has reiterated a Buy rating on Minda Corporation, while cutting the target price to ₹630 from ₹650, reflecting marginal adjustments to future earnings projections.
The brokerage noted that Minda Corp delivered a Q4 EBITDA beat, underlining its robust operational performance. Despite the slight downward revision in estimates, Nuvama believes the outlook remains bright, driven by the company’s positioning in premiumisation, regulatory tailwinds, and electric vehicle (EV) penetration.
Nuvama has trimmed its FY26E and FY27E EPS estimates by 8% and 3%, respectively, attributing the cuts to lower revenue assumptions and equity dilution.
For the long term, the firm has factored in a revenue CAGR of 15% and EBITDA CAGR of 19% over FY25–27E, supported by ongoing demand shifts in the auto component space. The company is also expected to deliver a healthy average Return on Invested Capital (RoIC) of 16% over the forecast period.
Disclaimer: The views and recommendations expressed above are those of the brokerage firm. Business Upturn does not endorse or offer any investment advice.
