Shares of Minda Corporation Ltd. gained more than 3% to trade at ₹550 on Tuesday, September 24, after the company announced its Vision 2030 roadmap, outlining ambitious growth and profitability targets.
The auto component maker is targeting FY30 revenues of ₹17,500 crore ($2 billion), implying a strong 28% CAGR over FY25–30, with Ebitda projected at ₹2,100 crore, reflecting a 30% CAGR. The roadmap also envisions Ebitda margins improving to over 12.5% in FY25.
Brokerage Nuvama responded positively, upgrading its outlook and retaining a ‘Buy’ rating with a revised target price of ₹620 (earlier ₹590), factoring in stronger underlying industry growth and higher per-vehicle content.
Growth levers outlined in Vision 2030
Management highlighted that incremental revenues between FY25–30 would be anchored on:
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Growth in existing businesses (~28%)
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Premiumisation (~14%) with focus on Smart Access, Cockpit Electronics, and EV Harness
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Exports (~9%), especially in North America and Europe
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New products (~12%), including EV offerings, Sunroofs, and Switches
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Acquisitions and other opportunities (~37%)
By FY30, passenger vehicles’ share in revenues is expected to rise to 25% (from 14%), while 2-3 wheelers are projected to decline to 40% (from 47%). Commercial vehicles’ share is seen easing to 25% (from 28%).
Associate firm Flash is also expected to deliver a 20%+ CAGR through new EV products, exports, and cross-selling initiatives.
At the time of writing, Minda Corporation’s market performance reflects strong investor optimism around its growth plans, with analysts expecting sustained traction across domestic and global markets.
