Minda Corporation edges higher after signing JV pact with Japanese firm Toyodenso

Minda Corporation added 2.80% to Rs 61.74 after the company announced a joint venture with Japan-based Toyodenso Co. for advance automotive switches for the Indian market.

The partnership will provide end-to-end solutions including design, development, manufacturing and marketing of automotive switches for two-wheelers, passenger cars and other automotive segment for the Indian market.

Minda Corporation will have majority stake in the newly formed venture with an investment in the agreed shareholding ratio of 60:40. The new Joint venture has already received orders from customers in India.

This greenfield plant will be set up in Noida, Uttar Pradesh and is expected to commence operations by 2 nd half of FY 202627.

This partnership is strategically aligned to cater to the rising demand for advanced switches in the Indian automotive sector and in line with the company synergistic product portfolio and localization of new products and technologies for the customers.

Ashok Minda, chairman & group CEO, Minda Corporation, said: We are very excited and privileged to partner with Toyodenso, a Global Japanese company with rich legacy of technological innovation.

This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognized technologies into Indias automotive ecosystem.

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

The company's consolidated net profit declined 26.46% to Rs 52.03 crore despite an 8.75% increase in revenue to Rs 1321.26 crore in Q4 FY25 as compared with Q4 FY24.

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