Rs 2,600 Crore Order Book: EV Company Signs Technology Licensing Agreement with Sanco to Provide Electrical Distribution Systems Solutions for EV Market!
DSIJ Intelligence / 04 Sep 2024/ Categories: Mindshare, Multibaggers, Trending
The lifetime order book surpassed Rs 10,000 crore, with 30 per cent from the EV segment. We filed 26 new patents in FY24.
Minda Corporation Limited, a Small-Cap flagship company of Spark Minda, has announced the signing of a Technology Licensing Agreement with Sanco Connecting Technology, China, a leader in Electric Vehicle (EV) connection systems. This agreement will expand Minda Corp's product portfolio in the rapidly growing EV industry, particularly in the area of Electrical Distribution Systems (EDS).
Under this partnership, Minda Corp and Sanco will collaborate to locally develop EV connecting systems, including charging gun assemblies with sockets and accessories, bus bars, cell contact systems, Power Distribution Units (PDU), and Battery Distribution Units (BDU).
This collaboration is a significant step towards enabling Minda Corp to design, develop, and manufacture advanced EDS solutions for EV customers in India. Additionally, it will strengthen the vertical integration capabilities of Minda Corp’s Wiring Harness Division, further solidifying its position as a key player in the EV supply chain ecosystem.
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Today, the shares of Minda Corporation closed at around Rs 540 per share on the BSE. The company’s current market capitalization stands at Rs 13,704 crore. Additionally, the shares have delivered an impressive return of over 154 per cent in just 2 years.
As per the Quarterly Results, in the Q1 FY25, Minda Corporation recorded a revenue of Rs 1192 crore compared to Rs 1075 crore. It reported an operating profit of Rs 132 crore. The net profit stood at Rs 64 crore. Looking at the annual performance, the company generated a revenue of Rs 4651 crore in FY24 compared to Rs 4300 crore representing a gain of 8.16 per cent. The operating profit for FY24 was Rs 517 crore with a net profit of Rs 227 crore compared to a profit of Rs 284 crore in FY23. The company declared a final dividend of Rs 0.90 for FY24.
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Disclaimer: The article is for informational purposes only and not investment advice.