NEW DELHI, Aug. 12th, 2025: Minda Corporation Ltd. has combined its best-ever quarterly earnings with two high-profile joint ventures, highlighting the auto component maker’s ambition to expand its position in premium and connected vehicle systems.
Spark Minda’s flagship reported consolidated revenue of ₹1,386 crore for the April-June quarter, a 6.2% year-on-year increase that exceeded market expectations. The operating profit reached ₹156 crore, resulting in an EBITDA margin of 11.3%, 23 basis points higher than the same period last year. Net profit was ₹65 crore, resulting in a PAT margin of 4.7%.
Switching gears with Toyodenso One of the new partnerships involves Minda forming a joint venture with Japan’s Toyodenso to manufacture advanced automotive switches for two-wheelers, passenger cars, and other vehicle segments in India. Minda will own 60% of the venture, with Toyodenso owning the rest.
The project calls for the construction of a greenfield plant in Noida, Uttar Pradesh, with operations set to begin in the second half of fiscal year 27. Significantly, the JV has already received customer orders, indicating a strong demand for more sophisticated switchgear as vehicles in India increasingly incorporate advanced electronic features.
According to industry analysts, the move positions Minda to gain a larger share of a market segment that is expected to grow rapidly as OEMs upgrade to more premium, technologically advanced vehicle interiors.
Smart Cockpit Play with Qualcomm. The second major collaboration is with the US semiconductor company Qualcomm Technologies to co-develop smart cockpit solutions. The Snapdragon® Cockpit Platform will power the systems, which are designed to combine infotainment, navigation, safety, and connected services into a single, easy-to-use interface.
The collaboration reflects Minda’s strategy of transitioning from traditional component manufacturing to high-value, software-driven automotive systems. The solutions will be aimed at both Indian and export markets, with a focus on OEMs looking to provide connected and intelligent mobility experiences.
Drivers of Record Quarter
Chairman and Group CEO Ashok Minda stated that the first-quarter performance was bolstered by strong demand for two-wheelers, passenger vehicles and commercial vehicles, as well as “operational excellence, technology integration, and customer-centric initiatives.” The company intends to strengthen its position in high-growth markets, increase exports, and invest in new technologies.
According to industry analysts, India’s auto sector is experiencing an upcycle, with automakers adding premium features, connectivity, and safety systems to meet changing consumer preferences and regulatory requirements. The push is creating opportunities for parts manufacturers to supply advanced systems at scale.
Minda has also increased its market share with global OEMs and expanded its export footprint, thanks to investments in R&D and product diversification in mechatronics, information and connected systems, and plastic and interior components.
“The first quarter of FY26 saw a strong performance, supported by resilient demand in key vehicle segments,” Chairman and Group CEO Ashok Minda stated. “Leveraging our focus on operational excellence, technology integration, and customer-centric initiatives, we continued to strengthen our market position. As the year progresses, we will continue to focus on expanding our market reach, increasing exports, and providing long-term value to our stakeholders through consistent execution and strategic initiatives.”
Looking Ahead Minda stated that it intends to maintain growth momentum by investing in new technologies, expanding its presence in high-growth categories, and strengthening strategic alliances to meet changing customer demands.
The Toyodenso joint venture will help the company expand its leadership in automotive switches, while the Qualcomm partnership could position it as a serious player in the rapidly growing connected cockpit segment.
Minda Corporation, founded in 1985, now manufactures mechatronics, information and connected systems, and plastic and interior products for OEMs in India and abroad. Its customers include two- and three-wheeler manufacturers, passenger vehicle manufacturers, commercial vehicle producers, off-road OEMs, and the aftermarket.
Industry context The Indian automotive industry is currently experiencing an upswing, with OEMs investing heavily in premium features, connectivity, and safety technologies to meet changing consumer expectations and regulatory requirements. This shift opens up opportunities for component manufacturers to supply technologically advanced, high-quality systems at scale.
Minda’s decision to combine record earnings with two technology-led joint ventures signals its intention to seize that opportunity and position itself for both domestic growth and increased relevance in global supply chains.
