Uno Minda revenue grows 31%, PAT up 47% – ET Auto

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PAT (Uno Minda’s Share excluding exceptional income) for the quarter is INR 269 cr in Q4 FY24 as against INR 183 cr in Q4 FY23, an increase of 47%.

New Delhi: Uno Minda has announced its results for the quarter and the year ended 31st March 2024. At a consolidated level, the company reported a revenue growth with revenue of INR 3,794 cr for Q4 FY24 as against INR 2,889 cr in Q4 FY23, registering a rise of 31%.

This growth extends across all product segments, encompassing both established lines such as lighting, switches, and alloy wheels, as well as emerging areas like EV technology, controllers, and sensors, the company said in a media release.

The EBITDA for Q4 FY24 has been reported as INR 474 cr vis-à-vis INR 319 cr in Q4 FY23, a growth of 48%. Profit before tax for Q4 FY24 is at INR 302 cr as against INR 209 cr in Q4 FY23.

PAT (Uno Minda’s Share excluding exceptional income) for the quarter is INR 269 cr in Q4 FY24 as against INR 183 cr in Q4 FY23, an increase of 47%.

The Company reported achieved consolidated revenues of INR 14,031 Crores for FY24, registering a growth of 25% on a YoY basis. The EBITDA for the period grew by 28% at INR 1,585 crore. The profit after tax which is Uno Minda’s share excluding exceptional income for FY24 was at INR 860 crore as against INR 654 crore in FY23 reporting a growth of 32%.

The Board has also approved and declared a final dividend of INR 1.35 per share i.e. 67.5% of face value reflecting commitment from the company to returning value to shareholders on consistent basis. Pursuant to additional orders the Board has also approved a capital expenditure of INR 300 crore for the expansion of 2W alloy wheel plant at Supa capacity by 2 million. The enhanced capacity is expected to be commissioned by Q1 FY26. Post expansion, the capacity of 2W alloy wheels will get enhanced to 7.5 to 8 million wheels per annum, the company said.

Nirmal K Minda, CMD, Uno Minda Group said, “The Auto Industry continues to register robust growth with a preference for better features for safety, comfort, and cleaner mobility. Along with passenger vehicles, the two-wheeler segment also joined the growth trajectory in the current quarter. Uno Minda with its diversified product portfolio across the vehicle segment along with a strong focus on emerging automotive technology leads the industry with strong operating and financial performance.”

Sunil Bohra, CFO, Uno Minda Group said, “This industry-leading performance echoes the resounding success of our strategic initiatives. With meticulous capacity expansion, strategic market share acquisition, and pioneering technological advancements, we’ve seamlessly transitioned into a comprehensive system provider. Buoyed by upcoming expansions, positive industry trends, and escalating consumer demand for cutting-edge features, we brim with optimism for continued, sustainable growth.”

  • Published On May 24, 2024 at 11:58 AM IST

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