Minda Corporation Limited has announced a strategic partnership with Flash Electronics (India) Pvt. Ltd., involving the acquisition of a 49% equity stake in Flash Electronics for ₹1,372 crore. The partnership aims to strengthen both companies’ positions in the electric vehicle (EV) and automotive electronics markets.
Flash Electronics specializes in automotive engine and powertrain electronics, including products such as motors, motor controllers, and vehicle control units. Minda Corporation, on the other hand, focuses on automotive body electronics and has developed products for the EV sector, including battery chargers, DC-DC converters, and battery telematics.
The collaboration seeks to integrate the strengths of both companies to offer a broader range of products and technologies to the automotive industry. The combined portfolio will include innovations for two- and three-wheeler internal combustion engines (ICEs), as well as solutions for electric powertrains targeting passenger cars and commercial vehicles.
Flash Electronics is projected to achieve revenue exceeding ₹1,500 crore in the 2024-25 fiscal year, with an expected EBITDA margin of 14% and a return on capital employed (ROCE) of over 22%.
The partnership’s products and technologies will be showcased at the Bharat Mobility Expo in New Delhi, scheduled for January 18-21, 2025.
Both companies have expressed confidence in the growth opportunities this collaboration will unlock, emphasizing the potential for innovation and market expansion in the fast-growing automotive sector in India.