Minda Corp. Plans Rs. 2,000 Cr. CapEx for Next 5 Years
Minda Corporation, an automotive component manufacturing company, will be investing Rs. 2,000 crore as Capital Expenditure (CapEx) over the next five years. The investment will focus on expanding the company’s manufacturing capacity across various business segments.
During the company’s earnings call for Q2 of FY26, Mr. Ajay Agarwal – President, Finance & Strategy at Minda Corp., said, “…[this] investment will be made across the vertical, including die casting SMAD*, in our Minda Toyodenso joint venture**, wiring harness division as well as Minda instrument [100% subsidiary of Minda Corp.]”.
*Starter Motors & Alternators Division of Minda Corp. manufactures starter motors and alternators for different vehicles.
**Minda Corp. and Japan’s Toyodenso formed a 60-40 JV in June 2025 for the production of automotive switches in India for various vehicle segments.
As part of this expansion plan, Minda Corporation will establish two new die-casting plants and one additional facility for manufacturing instrument clusters. The die-casting plants are planned to be developed in Noida and Pune. However, the company has not disclosed further details regarding its CapEx.
Minda Corporation manufactures a wide range of automotive and Electric Vehicle (EV) components, such as on-board chargers, DC-DC converters, high-voltage connectors, EV controllers, battery management systems, wiring harnesses, sensors, and control units.
In addition to its capacity expansion, the company targets to significantly scale its business operations to over triple its revenue to Rs. 17,500 crore by FY30, compared to Rs. 5,056 crore recorded in FY25.
