Minda Corporation shares today: Shares of Minda Corporation surged sharply on Wednesday following a ‘Buy’ rating upgrade by Nuvama and a revised target price of Rs 620 from Rs 590, driven by the company’s Vision 2030 roadmap and robust growth prospects.
At 9:36 AM, Minda shares were trading 8.46 per cent higher at Rs 579.35, after touching an intraday high of Rs 588.35, outperforming the broader market, with the BSE Sensex down 0.41 per cent at 81,762.76.
Analysts see strong long-term upside
Nuvama expects Minda Corporation to deliver 14 per cent revenue CAGR and 16 per cent EBITDA CAGR over FY25-28E, supported by premiumisation, EV adoption, and strategic acquisitions, reinforcing a healthy long-term earnings trajectory.
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Nuvama has given a ‘buy’ rating on the stock with a revised target price of Rs 620 from Rs 590.
Revenue growth backed by multiple levers
Minda Corporation has set an ambitious FY30 revenue target of Rs 17,500 crore, implying a 28 per cent CAGR over FY25-30E. EBITDA is projected at Rs 2,100 crore, reflecting a 30 per cent CAGR. Nuvama has increased FY26-28E EBITDA estimates by 1-4 per cent, citing stronger industry growth and rising per-vehicle content.
The management expects incremental revenues to come from multiple levers: existing businesses (~28 per cent), premiumisation (~14 per cent), higher exports (~9 per cent), new products (~12 per cent), and other opportunities including acquisitions (~37 per cent). Premiumisation efforts will focus on Smart Access, Cockpit Electronics, and EV Harness segments, while exports are expected to accelerate in North America and Europe.
New product launches include EV offerings (Rs 300 crore in FY30E versus Rs 50 crore in FY25), sunroofs (Rs 500 crore versus zero), and switches (Rs 650 crore versus zero). The company has entered a technology licensing agreement with SANCO, China, and a joint venture with Toyodenso, Japan, to expand automotive switch and EV components production. A new sunroof plant with HCMF, Taiwan, is expected to contribute to revenue from FY28E.
