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Axis Securities Report
We interacted with the management of Minda Corporation Ltd. to understand the company's business strategy and growth prospects over the medium term.
Management highlighted that Minda is focussing on global trends which are currently shaping the auto ancillary space. The global trends are driven by connectivity, autonomous, shared mobility and electrification and inline with these trends, Minda has identified its strategic pillars of growth. These are-
focus on enhancing the core business (safety security system, wiring harness, instrument cluster, and die casting),
innovation and technology (In house research and development and joint venture's with global players),
electric vehicle growth opportunities (with focus on EV-agnostic products and increase content per vehicle), and
strengthening passenger vehicle offerings (control systems, sensors, and interior solutions).
The management said it is progressing well in strengthening its business operations through enhancing its technological capability, focusing on cost reduction, and product premiumisation.
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