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Last Updated: April 2, 2026, 3:20 am
Author: Getaka|Social: XLinkedIn

Minda Corporation Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹419.77Overvalued by 18.33%vs CMP ₹514.00

P/E (42.4) × ROE (12.1%) × BV (₹102.00) × DY (0.27%)

₹213.62Overvalued by 58.44%vs CMP ₹514.00
MoS: -140.6% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹455.1223%Over (-11.5%)
Graham NumberEarnings₹166.1616%Over (-67.7%)
Earnings PowerEarnings₹24.6911%Over (-95.2%)
DCFCash Flow₹122.2414%Over (-76.2%)
Net Asset ValueAssets₹102.037%Over (-80.1%)
EV/EBITDAEnterprise₹261.939%Over (-49%)
Earnings YieldEarnings₹120.307%Over (-76.6%)
ROCE CapitalReturns₹166.687%Over (-67.6%)
Revenue MultipleRevenue₹211.425%Over (-58.9%)
Consensus (9 models)₹213.62100%Overvalued
Key Drivers: Wide model spread (₹25–₹455) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 8.4%

*Investments are subject to market risks

Investment Snapshot

64
Minda Corporation Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health69/100 · Strong
ROCE 12.7% GoodROE 12.1% GoodD/E 0.42 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.76% (6mo) Slight increasePromoter holding at 64.8% Stable
Earnings Quality60/100 · Moderate
OPM stable around 11% SteadyWorking capital: -28 days (improving) Efficient
Quarterly Momentum68/100 · Strong
Revenue (4Q): +17% YoY GrowingProfit (4Q): +4% YoY Positive
Industry Rank55/100 · Moderate
P/E 42.4 vs industry 101.1 Cheaper than peersROCE 12.7% vs industry 15.1% AverageROE 12.1% vs industry 122.8% Below peers3Y sales CAGR: 19% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:20 am

Market Cap 12,292 Cr.
Current Price 514
Intrinsic Value₹213.62
High / Low 644/445
Stock P/E42.4
Book Value 102
Dividend Yield0.27 %
ROCE12.7 %
ROE12.1 %
Face Value 2.00
PEG Ratio5.04

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Minda Corporation Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Minda Corporation Ltd 12,292 Cr. 514 644/44542.4 1020.27 %12.7 %12.1 % 2.00
JBM Auto Ltd 13,270 Cr. 561 790/47761.2 59.90.15 %14.2 %16.1 % 1.00
Lumax Auto Technologies Ltd 10,861 Cr. 1,594 1,824/44942.3 1550.35 %19.0 %20.2 % 2.00
ASK Automotive Ltd 8,590 Cr. 436 578/37130.3 58.80.34 %27.6 %26.6 % 2.00
Pricol Ltd 6,556 Cr. 538 695/36830.8 93.00.37 %22.9 %17.6 % 1.00
Industry Average5,187.70 Cr573.81101.13154.700.78%15.11%122.81%5.59

All Competitor Stocks of Minda Corporation Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,0681,0751,0751,1961,1661,2151,1921,2901,2531,3211,3861,5351,560
Expenses 9549589601,0651,0361,0761,0611,1431,1091,1681,2301,3571,377
Operating Profit 114117115131130139132147144153156178184
OPM % 11%11%11%11%11%11%11%11%11%12%11%12%12%
Other Income 52222108129333-1
Interest 11121415141210111234333129
Depreciation 34393941424446515057565758
Profit before tax 74696377769284969065719397
Tax % 26%-80%27%24%33%25%26%26%29%36%26%27%33%
Net Profit 521224559527164746552658584
EPS in Rs 2.195.101.892.462.202.962.693.112.712.182.733.543.58

Last Updated: March 3, 2026, 9:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,5901,9652,4352,0602,5943,0922,8132,3682,9764,3004,6515,0565,803
Expenses 1,4631,7782,2061,8682,3162,7972,5582,1482,6803,8374,1344,4805,132
Operating Profit 127188229192278295256220296463517576671
OPM % 8%10%9%9%11%10%9%9%10%11%11%11%12%
Other Income 442329272780-238-8561615329
Interest 283937304051543932425769127
Depreciation 48607458748811894112138166204228
Profit before tax 96111147131191236-15480208298308336325
Tax % 18%24%25%22%25%28%29%39%12%1%27%29%
Net Profit 7988110102143169-20053192284227255286
EPS in Rs 3.794.285.124.886.827.45-8.792.218.0311.909.5010.6812.03
Dividend Payout % 5%9%10%10%9%9%-4%29%12%10%15%13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)11.39%25.00%-7.27%40.20%18.18%-218.34%126.50%262.26%47.92%-20.07%12.33%
Change in YoY Net Profit Growth (%)0.00%13.61%-32.27%47.47%-22.01%-236.53%344.84%135.76%-214.35%-67.99%32.41%

Minda Corporation Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:18%
3 Years:19%
TTM:10%
Compounded Profit Growth
10 Years:11%
5 Years:27%
3 Years:15%
TTM:4%
Stock Price CAGR
10 Years:22%
5 Years:47%
3 Years:31%
1 Year:-12%
Return on Equity
10 Years:12%
5 Years:13%
3 Years:14%
Last Year:12%

Last Updated: Unknown

Balance Sheet

Last Updated: December 10, 2025, 3:05 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 20414242424545484848484848
Reserves 3504065075806941,1459251,0941,2781,5381,9282,1502,392
Borrowings 5725215625497286856255325117185401,6141,536
Other Liabilities 3704536603775875667326547319059111,0621,206
Total Liabilities 1,3121,4221,7711,5482,0512,4422,3272,3282,5673,2093,4274,8745,181
Fixed Assets 5275717195307117325706138871,0261,2071,5071,544
CWIP 15151374162128183285638590
Investments 25295126139165176180644513481,4761,508
Other Assets 7468071,0348181,1841,5241,5521,5171,5831,6471,8091,8062,039
Total Assets 1,3121,4221,7711,5482,0512,4422,3272,3282,5673,2093,4274,8745,181

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -18304226487020945086167387287544
Cash from Investing Activity + -136-53-158-158-200-402-137-19212-425116-1,409
Cash from Financing Activity + 133-238-2967122203-24965-16174-358788
Net Cash Flow -201339-43-81164-42183744-76
Free Cash Flow -102223134-90-12491304-455913936202
CFO/OP -1%175%116%41%41%91%197%48%73%91%75%111%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-445.00-333.00-333.00-357.00-450.00-390.00-369.00-312.00-215.00-255.00-23.00575.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 675965668064646870546360
Inventory Days 70707891105861089793756667
Days Payable 93941047910379139124110958396
Cash Conversion Cycle 443640798271334153344631
Working Capital Days -34-76143-19-6251331-28
ROCE %12%16%16%12%18%16%-7%10%12%16%15%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 64.72%64.72%64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%64.84%
FIIs 5.06%5.74%5.53%3.73%5.07%6.07%7.62%7.98%8.33%8.83%8.72%9.09%
DIIs 11.83%11.88%13.20%16.81%20.60%20.63%18.87%18.42%18.48%18.17%18.52%18.43%
Public 16.68%15.99%14.78%12.99%7.90%6.86%7.07%7.16%6.77%6.58%6.35%6.08%
Others 1.68%1.65%1.65%1.62%1.59%1.59%1.59%1.59%1.57%1.57%1.56%1.56%
No. of Shareholders 90,24292,32096,38798,2381,00,68989,45993,90696,70192,13893,52696,34992,368

Shareholding Pattern Chart

No. of Shareholders

Minda Corporation Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Small Cap Fund 7,153,067 1.47 402.617,303,5922026-02-23 05:30:26-2.06%
Axis Small Cap Fund 5,769,277 1.27 324.725,769,2772025-04-22 17:25:260%
Kotak Small Cap Fund 5,440,130 1.87 306.25,227,4692026-02-22 09:46:094.07%
Aditya Birla Sun Life Value Fund 2,981,058 2.69 167.793,059,6912026-02-22 09:46:09-2.57%
Axis Multicap Fund 2,871,254 1.78 161.612,847,3232026-02-23 05:45:040.84%
Axis Large & Mid Cap Fund 1,710,572 0.63 96.281,618,5182026-02-22 09:46:095.69%
Edelweiss Balanced Advantage Fund 1,639,058 0.7 92.25N/AN/AN/A
SBI Automotive Opportunities Fund 1,626,388 1.83 91.541,030,5002026-02-22 09:46:0957.83%
Aditya Birla Sun Life Small Cap Fund 1,392,774 1.64 78.39983,8612025-12-08 00:50:3241.56%
Axis India Manufacturing Fund 1,212,878 1.39 68.27N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 10.859.6512.108.162.33
Diluted EPS (Rs.) 10.689.4911.908.012.29
Cash EPS (Rs.) 18.5616.3618.1012.415.96
Book Value[Excl.RevalReserv]/Share (Rs.) 91.9582.6766.3655.4647.78
Book Value[Incl.RevalReserv]/Share (Rs.) 91.9582.6766.3655.4647.78
Revenue From Operations / Share (Rs.) 211.56194.61179.92124.5199.08
PBDIT / Share (Rs.) 25.4022.1819.9713.3310.47
PBIT / Share (Rs.) 16.8515.2414.198.656.55
PBT / Share (Rs.) 14.0412.9012.498.725.05
Net Profit / Share (Rs.) 10.019.4212.327.722.05
NP After MI And SOA / Share (Rs.) 10.699.5111.908.032.21
PBDIT Margin (%) 12.0011.3911.0910.7010.56
PBIT Margin (%) 7.967.837.886.946.61
PBT Margin (%) 6.636.636.947.005.10
Net Profit Margin (%) 4.734.846.846.192.06
NP After MI And SOA Margin (%) 5.054.886.616.442.22
Return on Networth / Equity (%) 11.6211.4917.9314.474.62
Return on Capital Employeed (%) 13.7915.5917.3413.2012.03
Return On Assets (%) 5.236.608.827.462.26
Long Term Debt / Equity (X) 0.190.060.100.060.08
Total Debt / Equity (X) 0.610.170.340.290.42
Asset Turnover Ratio (%) 1.221.401.291.201.01
Current Ratio (X) 0.851.801.251.531.44
Quick Ratio (X) 0.551.320.791.061.06
Inventory Turnover Ratio (X) 9.138.454.424.012.87
Dividend Payout Ratio (NP) (%) 12.9213.429.277.9713.25
Dividend Payout Ratio (CP) (%) 7.177.766.245.034.78
Earning Retention Ratio (%) 87.0886.5890.7392.0386.75
Cash Earning Retention Ratio (%) 92.8392.2493.7694.9795.22
Interest Coverage Ratio (X) 9.039.4811.7310.316.99
Interest Coverage Ratio (Post Tax) (X) 4.565.038.235.913.50
Enterprise Value (Cr.) 14137.2710151.185530.405002.912390.53
EV / Net Operating Revenue (X) 2.802.181.291.681.01
EV / EBITDA (X) 23.2919.1511.5915.709.55
MarketCap / Net Operating Revenue (X) 2.552.151.201.661.02
Retention Ratios (%) 87.0786.5790.7292.0286.74
Price / BV (X) 5.875.063.243.732.11
Price / Net Operating Revenue (X) 2.552.151.201.661.02
EarningsYield 0.010.020.050.030.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Minda Corporation Ltd. is a Public Limited Listed company incorporated on 11/03/1985 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1985PLC020401 and registration number is 020401. Currently Company is involved in the business activities of Manufacture of padlocks, locks, keys, hinges and the like, hardware for buildings, furniture, vehicles etc.. Company's Total Operating Revenue is Rs. 4144.30 Cr. and Equity Capital is Rs. 47.80 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - OthersA-15, Ashok Vihar, Phase-I, Delhi Delhi 110052Contact not found
Management
NamePosition Held
Mr. Ashok MindaChairman & Group CEO
Mr. Aakash MindaExecutive Director
Mr. N K ModiExecutive Director
Mr. Laxman RamnarayanIndependent Director
Ms. Pratima RamIndependent Director
Mr. Ravi SudIndependent Director
Mr. Gajanan V GandheIndependent Director

FAQ

What is the intrinsic value of Minda Corporation Ltd and is it undervalued?

As of 13 April 2026, Minda Corporation Ltd's intrinsic value is ₹213.62, which is 58.44% lower than the current market price of ₹514.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.1 %), book value (₹102), dividend yield (0.27 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Minda Corporation Ltd?

Minda Corporation Ltd is trading at ₹514.00 as of 13 April 2026, with a FY2026-2027 high of ₹644 and low of ₹445. The stock is currently in the middle of its 52-week range. Market cap stands at ₹12,292 Cr..

How does Minda Corporation Ltd's P/E ratio compare to its industry?

Minda Corporation Ltd has a P/E ratio of 42.4, which is below the industry average of 101.13. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Minda Corporation Ltd financially healthy?

Key indicators for Minda Corporation Ltd: ROCE of 12.7 % is moderate. Dividend yield is 0.27 %.

Is Minda Corporation Ltd profitable and how is the profit trend?

Minda Corporation Ltd reported a net profit of ₹255 Cr in Mar 2025 on revenue of ₹5,056 Cr. Compared to ₹192 Cr in Mar 2022, the net profit shows an improving trend.

Does Minda Corporation Ltd pay dividends?

Minda Corporation Ltd has a dividend yield of 0.27 % at the current price of ₹514.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Minda Corporation Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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