MINDACORP

What Minda promised, and what happened

Every commitment management made on a call, tracked from the quarter it was made — reaffirmed, revised, diluted or quietly dropped.

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 1 delivered 4 missed 15 open
  • Net Debt to Equity Ratio went quiet said Q4 FY25 Promised: bring down the 0.5x debt to equity to about 0.2x in the next 2 to 3 years Q1 FY27: No specific update on Net Debt to Equity ratio was provided for the third consecutive quarter.
  • Sunroof Business Start of Production (SOP) on track said Q4 FY25 Promised: revenues will be starting from FY27 Q1 FY27: Management confirmed the project is 'completely on track' for the delayed Q2 FY27 SOP, with customer trials approved.
  • FY26 Capex delivered said Q1 FY26 Promised: In FY26, we expect a Capex of about Rs. 350 - 375 crores. Q4 FY26: Achieved. Full year FY26 capex was INR 413 crores, in line with the revised guidance of ~INR 400 crores.

The rest of the ledger

Above is what the last two calls moved. Pro opens all 20 tracked commitments for Minda — every quarter's revision, the source quote behind each one, and the topics management has stopped answering.

See what Pro opens