MINDA

the management outlined its ‘Vision 2030’ at the Meet. Our visit highlighted Minda’s ongoing transformation from a traditional component maker into a systems solutions provider, underpinned by 3x higher R&D spend over the last 4Y, a growing IP portfolio (>310 in FY25), and strong EV-ready capabilities. Strategic priorities include expanding capacity with ~Rs20bn planned capex till FY30, scaling adjacencies via JVs (sunroofs with HCMF, switches with Toyodenso, EV components with SANCO), and deepening engagement with global OEMs across the 2W/3W, PV, CV and aftermarket segments. The roadmap aligns well with mobility megatrends, such as electrification, connectivity, software-defined vehicles, and premiumization, while Flash’s integration strengthens its electronics and powertrain capabilities in EVs along with a global footprint. It rose by 8% today.