---
title: "Minda Finance Ltd (539303) — Share Price, Financials & Analysis"
symbol: "539303"
company: "Minda Finance Ltd"
canonical: "https://tapetide.com/stocks/539303"
isin: "INE197E01018"
bse_code: "539303"
generated_at: "2026-10-13T10:59:16.804Z"
---

# Minda Finance Ltd (539303)

Canonical page: https://tapetide.com/stocks/539303

## Company

- **BSE Code:** 539303
- **ISIN:** INE197E01018
- **Stock Type:** EQUITY
- **Listed Since:** 2018-02-19
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** mindafinance.com

## About

Minda Finance is engaged in the business of Lease, Finance and Investments.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Stock is trading at 0.08 times its book value

### Weaknesses

- The company has delivered a poor sales growth of 1.24% over past five years.
- Company has a low return on equity of -1.04% over last 3 years.
- Contingent liabilities of Rs.7.55 Cr.
- Earnings include an other income of Rs.2.30 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 15% | — | — |
| revenue growth | 39% | -5% | 1% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.53 | 0.81 | 0.4 | 0.69 | 0.42 | 0.71 | 0.47 | 0.56 | 0.48 | 1.58 |
| Expenses | 0.1 | 0.07 | 0.12 | 0.07 | 0.1 | 0.12 | 0.12 | 0.11 | 0.09 | 0.07 |
| Operating Profit | 0.43 | 0.74 | 0.28 | 0.62 | 0.32 | 0.59 | 0.35 | 0.45 | 0.39 | 1.51 |
| OPM % | 81.13 | 91.36 | 70 | 89.86 | 76.19 | 83.1 | 74.47 | 80.36 | 81.25 | 95.57 |
| Other Income | 0.78 | 0.04 | -0.02 | 0.01 | 0.02 | 0.04 | -0.03 | 2.33 | 0 | 0 |
| Interest | 0.34 | 0.87 | 0.24 | 0.36 | 0.35 | 0.74 | 0.46 | 0.42 | 0.45 | 0.3 |
| Depreciation | 0 | 0 | 0 | 2.37 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0.87 | -0.09 | 0.02 | -2.1 | -0.01 | -0.11 | -0.14 | 2.36 | -0.06 | 1.21 |
| Tax % | 20.69 | 0 | 150 | 2.86 | 0 | 0 | 0 | 0.42 | 50 | 9.92 |
| Net Profit | 0.54 | -0.49 | 0.19 | -2.47 | -0.82 | -0.89 | -1.13 | -3.44 | -0.41 | 1.47 |
| EPS in Rs | 2.7 | -2.45 | 0.95 | -10.15 | -3.35 | -4.45 | -4.65 | -14.15 | -1.7 | 6.05 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1.31 | 2.21 | 2.07 | 2.76 | 4.51 | 3.19 | 2.35 | 3.09 |
| Expenses | 0.22 | 0.46 | 0.4 | 0.42 | 1.33 | 2.8 | 0.47 | 0.39 |
| Operating Profit | 1.09 | 1.75 | 1.67 | 2.34 | 3.18 | 0.39 | 1.88 | 2.7 |
| OPM % | 83.21 | 79.19 | 80.68 | 84.78 | 70.51 | 12.23 | 80 | 87.38 |
| Other Income | 0.02 | 0 | -0.45 | 0 | 0 | 0.04 | 2.02 | 2.3 |
| Interest | 0.17 | 0.87 | 0.45 | 0.35 | 1.09 | 2.05 | 1.96 | 1.63 |
| Depreciation | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0.94 | 0.87 | 0.77 | 1.99 | 2.09 | -1.62 | 1.94 | 3.37 |
| Tax % | 26.6 | 32.18 | 57.14 | 34.17 | 22.97 | 13.58 | 0.52 | — |
| Net Profit | 0.69 | 0.61 | 0.33 | 0.87 | 2.37 | -2.61 | -1.29 | -3.51 |
| EPS in Rs | 3.45 | 3.05 | 1.65 | 4.35 | 11.85 | -10.95 | -8.45 | -14.45 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 27.34 | 27.95 | 28.26 | 42.14 | 43.36 | 40.09 | 38.81 |
| Borrowings | 31.76 | 30.89 | 41.97 | 46.33 | 50.92 | 36.74 | 24.97 |
| Other Liabilities | 0.14 | 0.16 | 0.11 | 0.9 | 3.06 | 24.34 | 22.75 |
| Total Liabilities | 61.24 | 61 | 72.34 | 91.37 | 99.34 | 103.17 | 88.53 |
| Fixed Assets | 0.01 | 0 | 0 | 0 | 0.01 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 39.72 | 43.19 | 46.62 | 49.07 | 48.45 | 47.4 | 50.06 |
| Other Assets | 21.51 | 17.81 | 25.72 | 42.3 | 50.88 | 55.77 | 38.47 |
| Total Assets | 61.24 | 61 | 72.34 | 91.37 | 99.34 | 103.17 | 88.53 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -7.99 | 1.82 | 0 | -4.04 | -6.96 | -15.82 | 14.95 |
| Cash from Investing Activity | -3.19 | -3.32 | 0 | 2.73 | 1.65 | 1.08 | -5.71 |
| Cash from Financing Activity | 14.96 | -1.73 | 0 | 15.25 | 2.35 | 6.25 | -11.77 |
| Net Cash Flow | 3.78 | -3.22 | 0 | 13.94 | -2.96 | -8.49 | -2.53 |
| Free Cash Flow | -7.99 | 1.82 | 0 | -4.04 | -6.97 | -15.82 | 14.95 |
| CFO/OP | -728 | 126 | 0 | -144 | -204 | -3928 | 874 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 14.86 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 14.86 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 579.54 | 82.58 | 1.76 | 277.72 | 107.64 | -2652.26 | -3126.57 |
| ROCE % | — | 2.85 | 2.51 | 2.86 | 3.38 | 0.49 | 5.56 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 55.46% | 60.33% | 65.23% | 70.12% | 70.12% |
| Public | 44.54% | 39.67% | 34.77% | 29.88% | 29.88% |
| No. of Shareholders | 74 | 74 | 73 | 72 | 72 |

### Quarterly

| Category | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 55.46% | 60.33% | 60.33% | 60.33% | 60.33% | 65.23% | 70.12% | 70.12% | 70.12% | 70.12% | 70.12% | 70.12% |
| Public | 44.54% | 39.67% | 39.67% | 39.67% | 39.67% | 34.77% | 29.88% | 29.88% | 29.88% | 29.88% | 29.88% | 29.88% |
| No. of Shareholders | 74 | 74 | 73 | 73 | 72 | 73 | 72 | 72 | 72 | 72 | 72 | 72 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-02-10 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fd0d771b-117a-49cd-951b-b382a258243d.pdf) |
| 2026-02-05 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e55de4e1-6b1f-4a6a-8c37-4c60c90dedd2.pdf) |
| 2026-02-03 | [Board Meeting Outcome for Outcome Of Board Meeting](https://www.bseindia.com/xml-data/corpfiling/AttachHis/56958d6f-53fd-4d79-8539-5900d573437d.pdf) |
| 2026-02-03 | [Outcome Of Board Meeting](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8e9d19a2-cfe9-4357-b3c0-d188b7522786.pdf) |
| 2026-02-03 | [Disclosure under Regulation 30A of LODR](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3623679a-a16e-419e-9356-76fa8d550d8b.pdf) |
| 2021-01-13 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3c9e6a27-326e-47f0-9316-40a89f515e0f.pdf) |
| 2021-01-13 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3c9e6a27-326e-47f0-9316-40a89f515e0f.pdf) |
| 2020-12-30 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c9a78e29-9f3f-442c-b40b-d09f8d1a7d99.pdf) |
| 2020-12-30 | [Closure of Trading Window](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c9a78e29-9f3f-442c-b40b-d09f8d1a7d99.pdf) |
| 2020-11-26 | [Revised Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0691C734_DB56_48F4_AB98_43502217404A_155348.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8fffa34e-175b-435a-a9b3-1587cead58f7.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c73fcc88-bee6-4d49-b841-65afdd76a702.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/23033021-c3fa-425c-94ae-893a9b8002e5.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/524774/73139524774.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/524774/69106524774_04_08_21.pdf) |
| Mar 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/524774/5247740320.pdf) |
| 2020 | [Annual Report 2020](https://www.bseindia.com/bseplus/AnnualReport/539303/66237539303.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/524774/5247740319.pdf) |
| Mar 2019 | [Annual Report 2019](https://www.bseindia.com/bseplus/AnnualReport/539303/5393030319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/524774/5247740318.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fd0d771b-117a-49cd-951b-b382a258243d.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/46e0aa60-0a2f-4ad1-b7a9-6dae04f50967.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/712d368f-13c1-4845-9bb1-06cf94c49700.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1b2b31ba-32d4-4cbe-8b2e-b1447fd97f78.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/22f12028-c3d8-4640-8579-2e5346e8640a.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/feb890d3-c961-4011-b912-8e56f62cfaf4.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dda29014-2e8a-44a1-979d-205bd033717f.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d5f74e5d-5943-4316-a821-8b982c8c5cf2.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7cba1b12-a3e4-4a48-ac13-69c824cdd8f4.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0a399348-73dc-4f60-94cb-8059e21003d6.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-06-27 | Credit rating update — CRISIL |
| 2025-06-26 | Credit rating update — CRISIL |
| 2025-03-13 | Credit rating update — ICRA |
| 2024-04-01 | Credit rating update — ICRA |
| 2024-03-28 | Credit rating update — CRISIL |
| 2023-03-31 | Credit rating update — ICRA |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T10:59:16.804Z.