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Nirmal Bang Report
Minda Corporation Ltd. is a leading automotive components supplier catering to all key segments of passenger vehicles, two-wheelers, commercial vehicles and tractors with a diverse product portfolio consisting of security systems, wiring harness, die-casting, instrument clusters, die-casting, sensors, telematics, etc.
We expect Minda Corp's safety and security division to benefit from premiumisation in two-wheelers and believe that the existing product portfolio (largely electric vehicle agnostic) will benefit as the industry transitions to EVs, with large potential to increase its content per vehicle.
New products developed for EV applications and the demand upcycle in commercial vehicles (positively impacts the wiring harness division) will further boost its revenue growth in the next three years.
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