Minda Corporation has accepted the resignation of Pardeep Mann as its Company Secretary and Compliance Officer, effective August 21, 2026. The automotive components manufacturer disclosed the change in key managerial personnel to stock exchanges on August 21, 2026.

Mann will be relieved from his duties at the close of business hours on August 21, 2026. In his resignation letter addressed to the Board of Directors, Mann cited personal reasons for stepping down from the position.

Regulatory Disclosure

The company made the disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both the National Stock Exchange of India Ltd. and BSE Limited.

The detailed disclosure required under Regulation 30 of the SEBI (LODR) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, was enclosed with the intimation. A copy of Mann’s resignation letter containing the detailed reason for resignation was also provided as required under clause 7C of Part A of Schedule III of SEBI (LODR) Regulations, 2015.

Ajay Agarwal, Group CFO and President-Finance & Strategy, signed the communication on behalf of the company.

Minda Corporation Limited shareholders approved the company’s financial results for FY26 at its 41st Annual General Meeting held on August 21, 2026. The meeting also saw the re-appointment of Chairman Ashok Minda and statutory auditors S.R. Batliboi & Co. LLP.

The Board recommended a final dividend of ₹0.80 per equity share, representing a 40% payout on face value. Shareholders approved the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026.

Financial Performance

Minda Corporation reported consolidated revenue of ₹6,185 crore for FY26, marking a 22.3% year-on-year increase from ₹5,056 crore in FY25. The group achieved its highest-ever EBITDA of ₹721 crore, reflecting a margin expansion of 29 basis points to 11.7%. Profit after tax rose 38% to ₹358 crore, up from ₹255 crore in the previous fiscal.

Group revenue, including associates and joint ventures, stood at ₹9,015 crore. The company secured lifetime orders worth more than ₹10,000 crore during the fiscal.

Strategic Partnerships

The company highlighted two new joint ventures formed in FY26:

• A partnership with Turntide Drives Ltd., signed on March 9, 2026, to offer localized EV motor solutions. Minda holds a 49% stake.
• A joint venture with Toyodenso, established in June 2025, focusing on automotive switches. Minda holds a 60% stake with an initial investment of ₹150 crore.

Balance Sheet & Leverage

As of March 31, 2026, net worth increased to ₹2,659 crore from ₹2,202 crore in FY25. Gross debt declined to ₹1,212 crore from ₹1,344 crore, while cash and cash equivalents rose to ₹147 crore. Net debt improved to ₹1,065 crore from ₹1,247 crore.

The net debt-to-equity ratio decreased to 0.4x from 0.6x in FY25. Return on capital employed (ROCE) expanded to 23.1% from 20.0% in both FY24 and FY25.

What the Numbers Show

The divergence between revenue growth (22%) and PAT growth (38%) indicates significant operating leverage in FY26. This acceleration was supported by an expansion in EBITDA margins by 29 basis points to 11.7%, suggesting that cost management or product mix shifts contributed disproportionately to bottom-line gains relative to top-line expansion.

Corporate Governance

The AGM was conducted via video conferencing under SEBI and MCA guidelines. Quorum was met with 357 members attending. Statutory auditors confirmed no qualifications or adverse remarks in their report. The remuneration of Chandra Wadhwa & Co. as cost auditors was ratified.