Minda forms strategic partnership with Flash Electronics

Minda Corp. Ltd. the flagship company of Spark Minda Group, has announced a strategic partnership with Flash Electronics to create the fastest growing EV platform in the country.

Both companies have a diversified, yet synergized, product portfolio where Minda Corp. is into Automotive body electronics and Flash is in automotive engine and powertrain electronics. This partnership, going forward, will create a synergetic and wide portfolio for both partners.

Through its differentiated innovation, Flash has been at the forefront in electricals and electronics for two and three-wheeler ICE specialising in ignition electricals and electronics. Being among the early entrants in the field of EV powertrain, Flash is among the market leaders for motor, motor controllers, vehicle control units, etc.  

Flash has developed innovative solutions for electric powertrain, and would be soon launching the same for passenger cars and commercial vehicles.  On the EV side, MCL has developed products like battery chargers, DC-DC converters, power electronics products, battery telematics, etc.  

This move aligns with Minda's long-term business strategy aimed at expanding presence in the auto components industry as a complete systems solution provider, and capturing a greater share of the fast-growing automotive segment in India.

Flash Electronics is expected to achieve revenue over Rs.1500 crores in FY 25 and have been impressively delivering a CAGR of over 17% during past years. The company is expected to deliver EBITDA margin of around 14% and with a steady RoCE of over 22%. As a part of the partnership, Minda will acquire 49% equity stake in Flash Electronics for a cash consideration of INR 1372 Cr.

Read More:

Impact of export controls on AI diffusion under Biden administration

Digital Convergence Technologies & Its Importance in Cybersecurity