Spark Minda reports record FY26 revenue, strengthens EV technology partnerships

Spark Minda reported its highest-ever annual revenue and operating profit for FY26, driven by strong demand across all vehicle segments and a focus on advanced automotive technologies. The company achieved consolidated revenue of Rs 6,185 crore in FY26, marking a 22.3% increase year-on-year. EBITDA rose 25.5% to Rs 721 crore, with margins improving to 11.7%. Profit after tax grew by 40.3% year-on-year to Rs 358 crore.

Key Highlights

• Spark Minda posted record annual revenue of Rs 6,185 crore in FY26
• EBITDA rose 25.5 percent to Rs 721 crore with margins at 11.7 percent
• Profit after tax increased 40.3 percent year-on-year to Rs 358 crore
• Formed joint ventures with Toyodenso and Turntide Technologies for advanced EV solutions

Financial Performance Highlights

In the March quarter, Spark Minda's revenue increased 29% year-on-year to Rs 1,704 crore. Quarterly EBITDA reached Rs 203 crore, with margins at 11.9%. Profit after tax for the quarter stood at ₹124 crore. The company attributed its financial growth to robust demand, especially in the two-wheeler and commercial vehicle segments.

Chairman and Group CEO Ashok Minda stated that FY26 was marked by consistent execution and steady progress, despite a dynamic market environment. He highlighted the company's ability to maintain strong demand and improve profitability through operational efficiency and technology adoption.

Strategic Technology Partnerships

During FY26, Spark Minda strengthened its global technology roadmap by forming two strategic joint ventures. The company partnered with Japan’s Toyodenso to develop advanced automotive switches. It also signed a joint venture with UK-based Turntide Technologies to introduce next-generation EV powertrain solutions tailored for the Indian market.

These partnerships aim to bring advanced global technologies closer to India, supporting localization and strengthening domestic supply chains. The initiatives align with the government’s ‘Make in India’ program, which encourages the adoption and production of advanced automotive technologies within the country.

Business Operations and Industry Context

Spark Minda, through its subsidiary Minda Corporation, operates across mechatronics, information and connected systems, and plastic and interior solutions. The company serves two-wheelers, passenger vehicles, commercial vehicles, and aftermarket applications.

Industry experts note that investments in India’s passenger vehicle sector are increasingly focused on electric vehicles, exports, and premiumization. Spark Minda plans to leverage upcoming fuel efficiency and commercial vehicle safety mandates to drive further growth. The company’s recent partnerships and technology upgrades position it to benefit from these industry trends.

Haryana, where Spark Minda has significant operations, is emerging as a hub for electric vehicles and advanced mobility solutions. The region is expected to play a key role in supporting the company’s future growth in the EV and advanced electronics segments.

Also Read: Bharat Forge Q4 FY26 results: Net profit drops 17.5% despite strong revenue growth

CarBike 360 Says

Spark Minda’s record-breaking FY26 performance underscores its strategic focus on innovation and future-ready mobility solutions. With expanding EV technology partnerships and sustained financial growth, the company is well-positioned to capitalize on the rapidly evolving automotive landscape. As electrification gains momentum, Spark Minda’s proactive approach is likely to play a key role in shaping its long-term growth trajectory.