Spark Minda Takes a Leap Forward in EV with a significant Battery Charger Order valued at INR 750 crores from a leading OEM

Minda Corporation Limited (referred to as "Minda Corp" or the "Company"; NSE: MINDACORP, BSE: 538962), the flagship company of Spark Minda has secured a significant contract from a leading OEM to produce Battery Chargers for Electric Vehicles (EVs). The lifetime value of the order is INR 750 crores. This big order win underscores company's commitment towards sustainable mobility and enhances its range of EV offerings.

Speaking about this significant achievement, Mr. Aakash Minda, Executive Director said, "This prestigious order is a testament to Spark Minda's robust EV product portfolio and our focus on customercentricity. This milestone underlines our commitment towards promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry".

The awarded product will be manufactured at Spark Minda's state-of-the-art, Spark Minda Green Mobility Systems Private Limited (a wholly owned subsidiary of Minda Corporation Limited) facility at Pune.

During the last financial year, electric vehicles accounted for nearly 20% of the total orders win. This project will further solidify Spark Minda's stewardship towards green and connected mobility and underlines company's position as forward-looking, future-ready organization, dedicated to revolutionizing the automotive sector through innovation and technological excellence.

Shares of Minda Corporation Limited was last trading in BSE at Rs. 291.50 as compared to the previous close of Rs. 294.35. The total number of shares traded during the day was 60189 in over 1696 trades.

The stock hit an intraday high of Rs. 298.95 and intraday low of 288.40. The net turnover during the day was Rs. 17646305.00.

Source : Equity Bulls

Keywords

MindaCorporation INE842C01021 SparkMinda OrderWin OEM BatteryChargers ElectricVehicles