Minda Corporation Reports Record-Breaking Consolidated Revenue of 1,386 Crore, Operating Profit of 156 Crore, and an Operating Margin of 11.3%
Minda Corporation and Toyodenso Form Strategic Joint Venture for Advanced Automotive Switches
Minda Corporation, a leading Indian automotive component manufacturing company with a significant international footprint, has announced a strategic joint venture (JV) with Toyodenso of Japan. The JV aims to manufacture and sell advanced automotive switches in India, targeting various automotive segments, including two-wheelers, passenger cars, and commercial vehicles.
The new JV will be a 60-40 partnership, with Minda Corporation holding the majority stake. The venture plans to establish a greenfield manufacturing plant in Noida, Uttar Pradesh, expected to commence operations in the second half of fiscal year 2026-27. The plant will produce advanced automotive switches that cater to a diverse range of vehicle types, such as 2/3 wheelers, passenger vehicles, commercial vehicles, off-roaders, and after-market.
Minda Corporation's dedication to research and development (R&D) and collaborations with industry leaders will ensure that the products developed through this JV meet strict international quality standards. The JV has already begun receiving orders from Indian customers.
The new JV is part of Minda Corporation's ongoing efforts to expand its product portfolio and customer base, which includes Indian and global original equipment manufacturers and Tier-1 customers. Minda Corporation's diversified product portfolio includes Mechatronics, Information and Connected Systems, Plastic and Interior products.
For more information about Minda Corporation, visit www.sparkminda.com. Minda Corporation Limited's stock is traded on BSE (538962) and NSE (MINDACORP).
However, it is important to note that this release contains forward-looking statements regarding Minda Corporation's future business developments and economic performance. Actual developments and results may differ materially due to various risks and uncertainties.
Minda Corporation was incorporated in 1985 and is the flagship company of Spark Minda. The company's extensive experience and expertise have allowed it to establish a strong presence in the Indian automotive industry and beyond.
In summary, the JV between Minda Corporation Limited and Toyodenso will focus on manufacturing and selling advanced automotive switches, targeting various automotive segments in India. The venture will set up a greenfield plant in Noida, Uttar Pradesh, operational by H2 FY 2026-27, has already received customer orders, and benefits from Minda Corp’s R&D and technological collaborations for product innovation and quality.
- This strategic joint venture between Minda Corporation and Toyodenso will also involve significant technology investments, as the partnership plans to leverage both companies' research and development capabilities to produce cutting-edge automotive switches.
- The establishment of this joint venture in the Indian automotive industry signifies a substantial business event, as it expands Minda Corporation's product portfolio and aims to cater to a wide range of vehicle segments, thereby potentially boosting the company's finance and revenue streams.
- In the dynamic global automotive industry, investments in advancements and business ventures like the one between Minda Corporation and Toyodenso are pivotal, as they help companies stay competitive while driving innovation and technological progress.
