PV recovery, EV potential likely to drive Minda Industries' growth

An engine agnostic portfolio also reduces the EV transition risk

The Minda Industries stock has been on an upward trajectory since the start of May, gaining 22 per cent amid expectations of robust growth led by higher content per vehicle, recovery in passenger vehicle sales, and an expanding engine agnostic product portfolio. 

Acquisitions, such as the one it recently announced of an auto light manufacturer in Uzbekistan, though small but could add to incremental benefits over the long term. Nomura’s Siddhartha Bera and Kapil Singh say: “We expect this acquisition to aid the company earnings per share by 2 per cent in FY23F; however, there may be longer-term strategic benefits depending