The Outperformers 2018


A mix of consolidation and diversification is proving to be a good growth formula for Minda Industries

Photographs by Vishal Koul

Nirmal Minda has an amiable air to him. As he walks from his Manesar corporate office to the adjacent switches factory, he greets everyone he meets on the way. The switch factory has all the familiar two and four-wheeler parts being inspected by the workforce on the production lines. This plant has been churning out switching systems for decades, and continues to bring home the bread and butter for the Minda group. But the affable chairman smiles and says, “An old cow can only be milked so much,” as we quiz him on the rationale for the shake-up at Minda group over the past four years.