Minda Industries Limited was incorporated on 16 September 1992 as the flagship company of the Minda Group. The company is engaged in the business of manufacturing of auto electrical parts and components including auto electrical parts such as switches lightings batteries and blow moulded products and ancillary services. As on 31 March 2018 the Company has 15 direct subsidiaries 7 step-down subsidiaries and 4 associate including 2 partnership Arms. In addition to this there are 6 joint venture Companies as on 31 March 2018.The company designs develops and manufactures switches for 2/3 wheelers and off-road vehicles. In addition the company manufactures batteries for 2/3/4 wheelers and off-road vehicles. The company enjoys more than 70% market share in the 2/3-wheeler segment in India and is amongst the top few globally. It has established 8 state of the art facilities spread across the length & breadth of India and one in the ASEAN region and employs more than 2800 people. Its products range include Switch 2W/HBA sensors actuators controllers Switch 4W/HVAC mirrors lighting HLL Motors horns compressed natural gas (CNG)/liquid petroleum gas (LPG) kits batteries blow molding components wheel covers seat belts seating and systems and cigar lighter. Its two-wheeler's switches include handle bar system assembly electronic systems brake switch gearshift switch and modular switch. Its off road switches include rotary switches starter switches plunger switches and rocker switches. Its automotive lighting products include tail lamp side indicator lamps headlamps front fog lamp rear fog lamps warning triangles work lamp and interior lamp. MIL has automotive battery brand Vroom. In April 2011 the Company sold Minda Realty & Infrastructure Ltd.During FY 2014-15 the Company's Lighting Division at Manesar Haryana expanded its manufacturing capacity for production of Tail Lamp for K-10 Model for one of its major clients namely Maruti Suzuki India Limited. The said expansion was completed on schedule and commercial production commenced from the month of September 2014.During the year 2014-15 a joint venture agreement (JVA) of the company's Battery Division was signed with Panasonic Corporation Japan. As per the terms of JVA the running business of Battery division will be hived off on or before longstop date of 30 April 2015. In this regard the Board has reviewed and revised the hiving off date from 30 April 2015 to 1 July 2015. In the joint venture the company will be having equity of 40% and the remaining 60% will be held by Panasonic Group. The necessary approval for hiving off Battery Division was obtained from the shareholders through Postal Ballot in the month of December 2014. On 29 March 2016 the Company acquired 30% shareholding in Kosei Minda a manufacturer of Alloy Wheels and other accessories / parts for automobile industry. On 30 March 2016 the Company acquired 51% shareholdings in Minda TG Rubber a manufacturer of brake hose fuel hose and their components accessories and fittings.In June 2016 Minda Industries Limited acquired global lighting business of Spain Based Rinder group (including its facilities in India Spain and Columbia) for Euro ~20 Million. During the year 3500000 3% Cumulative Redeemable Preference shares of Rs10 each were redeemed on 20 February 2017 as per the approved terms.During the year equity share of the company having face value of Rs10 each fully paid-up was sub-divided into 5 Equity shares having face value of Rs2 each fully paid up with effect from 14 September 2016 being the Record Date.On 3 April 2017 the Company allotted 7092125 equity shares of Rs2 each to eligible qualified institutional buyers at issue price of Rs423 per equity share aggregating to Rs999.97 Lacs under QIP.During the year under review the Company has entered into Joint Venture Agreement on April 27 2017 with Tung Thih Electronic Co. Ltd. Taiwan (TTE) to design develop and manufacture of Driving Assistance Products and Systems (DAPS) in the shareholding ratio of 50:50.