In a bid to add new products, Minda Industries has invested Rs 450 crore. Moreover, the company has entered into several new segments like fuel cap, die-casting, battery, CNG/LPG kits. This is its strategy to increase content per vehicle to step up engagement with automakers.
The company garners close to 44 per cent revenues from the switch business, 26 per cent from horns, 18 per cent from lights and the balance 12 per cent from other businesses. The company has invested Rs 150 crore in four upcoming plants to expand the lighting business.
Minda is the third-largest company in the local auto-lighting business, with 18 per cent market share.
