Minda Corporation Limited, the flagship company of Spark Minda, announced its financial results for the fourth quarter and full year ended March 31, 2023. The company delivered better than industry growth with a double digit EBITDA margin for the 11th straight quarter.
Minda Corporation strengthened its position as a leading provider of Telematics software and ADAS solutions through strategic partnerships with LocoNav and Daesung Eltec. In the last quarter, it filed 20 patents, increasing its total patent count to more than 250. Minda Corporation is able to sustain growth due to quality, customer-centricity, and innovation.
Mr. Ashok Minda, Chairman and Group CEO said, “As we move forward, we will focus on customer-centricity, driving innovation, and advancing research and development to deliver exceptional value to all our stakeholders.The automotive industry experienced satisfactory performance, with domestic auto market growth driven by urban sales, while exports faced challenges due to geopolitical factors. Two-wheeler demand remained sluggish due to affordability and fuel costs. The coming FY will witness the company pursuing excellence and surpassing expectations to ensure the delivery of exceptional value to our stakeholders.