New Delhi, Apr 8 (IANS): Auto component maker Minda Industries has had a stellar performance on Dalal Street in the past five years, accumulating over 500 per cent returns for its stakeholders.

Minda Industries has been supplying automotive solutions to original equipment manufacturers since 1958.

It has 71 manufacturing plants in India, Indonesia, Vietnam, Spain, Morocco, Mexico, Colombia, Germany, and design centres in Taiwan, Japan, and Spain. It also has sales offices in North America, Europe, and ASEAN countries.

A calibrated shift towards electric vehicles and a green fuel-driven world seems to have also lifted the auto component maker's prospects.

The company aims to grow at a 10-15 per cent higher than the market, and to realise this goal, it has taken various initiatives in products and technologies and operations.

Further, the company, in December 2021, signed a joint venture agreement with Germany-based FRIWO AG to further its electric vehicle products to manufacture and supply various electric vehicle components in the Indian subcontinent. Minda Industries will hold a majority stake of 50.1 percent in the joint venture entity.

At present, Minda Industries' market capitalisation is worth Rs 27,278 crore, NSE data showed.