The change from 'normal phones' to 'smart phones' brought in many ways a revolution in our lives! A somewhat similar change is coming to the automobile industry globally and to the Indian market.

Minda iConnect Pvt. Ltd. has been incorporated in September 2014 with a vision to contribute to this change and deliver enhanced value to car owners and automobile manufacturers by offering end to end 'connected car' solutions.

Our brand name 'Carot' is inspired from 'carrot' (meaning reward...we don't really like 'stick'!), and a great tool to upgrade your car into a smart car! For the geeks in us it also means 'Car on track'.

Our focus is in providing useful functionality on owner's smart phone to make car ownership more enjoyable, safer and a convenient experience!

We are a part of UNOMINDA Group - technology leaders in automobile components industry. As a group we are a leading supplier of automotive solutions to almost all Indian car manufacturers and many international ones as well.

We have manufacturing facilities in various locations in India and also in Indonesia, Vietnam and Spain. We have international offices in Japan, North America, Europe and China.


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    New Delhi-May 26, 2015- Minda Industries Limited, a Tier 1 Auto Components Supplier announced its audited financial results for the quarter and year ended 2014-2015.The company recorded standalone revenues of 1,370 Cr for the full year as compared to 1,108 Cr for the full year March 31, 2014, thereby recording a growth of 24% on corresponding quarter. Consolidated revenues for the full year FY2014-2015 is record 2,227 against 1,706 Cr posted in FY2013-2014,a significant increase of 31% YOY. Know More >>

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Press Release 2015

Rs. Cr FY15(1) FY14(2) YOY% FY13 FY15 FY14 YOY % FY13
Revenue 2,227 1,706 31% 1,340 1,370 1,108 24% 1,056
EBITDA 154.3 77.8 98% 93.5 113.5 76.2 49% 87.2
Margin% 6.9% 4.6% 7.0% 8.3% 6.9% 8.3%
PBT Before Exceptional Item 68.8(3) 11.4 502% 39.1 65.8(4) 32.2 105% 41.4
PAT 68.0 7.2 847% 28.3 53.2 27.1 96% 30.3
EPS (Rs.) 42.8 4.5 17.7 33.5 17.0 19.0
ROCE 15% 6% 12% 16% 7% 12%
ROE 18.6% 2.3% 9.1% 14.3%(5) 8.1% 9.7%

Strong Performance and revenue growth takes Minda Industries Ltd. past milestone of 2,000 Cr

MIL registered consolidated revenue of ¬2,227 Cr in FY2015 as against Rs. ¬1,706 Cr in 2014,growth of 31%. EBITDA of Rs.154 Cr, growth of 49% YoY with margin expanding by 237 bps, to margin of 6.9% from4.6% in FY14. Profit after Tax after MI and Share of Profit from Associate grew multi-fold from . 7.2 Cr in previous year to 68.0 Cr in FY15. EPS at Rs. 42.7 per share in FY15 from . 4.5 per share in previous year.

MIL registered standalone revenue of 1,370 Cr in FY15 as against Rs. 1,108 Cr in FY14, growth of 24%. EBITDA of .113 Cr, growth of 98% YoY from Rs.76 Cr in FY14. Margin expanded by 140 bps, to margin of 8.3% in FY15 from 6.9% in previous year. Profit after Tax almost doubled from . 27 Cr in FY14 to .53 Cr in FY15. EPS at Rs. 33.5 per share in FY15 from Rs. 17.0 per share in previous year.

Consolidated Return on Capital Employed has improved from 6% in FY14 to 15% in FY15. Whereas, Standalone return on capital employed has improved from 7% inn FY14 to 16% in FY15.

Consolidated Return on Equity has improved from 2.3% in FY14 to 18.6% in FY15. Whereas, Standalone Return on Equity has improved from 8.1% inn FY14 to 14.3% in FY15.

This growth has been on account of strong performance of the standalone entity and backed by improved performance of its subsidiaries. This was further augmented by increase in overseas business in the current financial year.


The board has declared dividend of Rs. 6 per share,(including the interim dividend of Rs. 2.5 per share, declared in February 10, 2015) i.e., 60% on face value of Rs. 10 per equity share.

Business Update & FY 2015 in perspective:

  • Switch division has started exporting to PIAGGIO (Europe) which has revenue potential of Rs. 20 Cr p.a
  • Lighting Division expanded its Lamp Division in Manesar, to cater to upcoming models of Maruti Suzuki for Head Lamp, Tail Lamp, Fog Lamp and other Small Lamps.
  • Operations of Clarton Horns turned around to become profitable in FY15
  • Synergy benefits have started to play out leading to improved margins
  • UNO MINDA has been granted patents by Japan Patent Association for Illuminated Handle Bar Switches, for SMD LED based illumination Technology and LED based illumination Technology. Now, the company has 3 patents granted in Japan.
  • Company entered into joint venture with Panasonic for its battery business.
  • Uno Minda entered in JV agreement with Kosei Group Co. Japan
    • Expanding its presence in alloy wheels by setting up new facility of 60,000 wheels per month at Bawal, Haryana
    • The plant is expected to start commercial production in FY17
  • As part of broader reorganization at the consolidated level, MIL is increasing its stake in PT Minda Asean Automotive (Indonesia) &SAM Global Pte Ltd, Singapore (100% holding company of PT Minda Vietnam Company) to 51%.


UNO MINDA, NK Minda Group, a technology leader in Auto Components Industry, is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures automobile components for Original Equipment Manufacturers (OEMs). It is today a 32 billion INR (US$525 million) Group and is rapidly expanding with increased market share in its product lines.

The Group is a global player in automotive sector with manufacturing facilities in Indonesia, Vietnam & Spain and Offices in Japan, Europe and China. It has 37 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufactures in Japan, Italy and India. Its continuous effort is to deliver high technology and quality products to its valued customers in worldwide area.

For more information about the Group and its businesses, please visit website at

Contact information

Corporate Communications (Ms. Devika Gupta), UNO MINDA, NK Minda Group;
TEL: +91-9953463511
E-mail: ;