Uno Minda Limited reports a robust 21% YoY quarterly revenue growth, demonstrating continued financial strength

• Q3 FY24 Consolidated Revenue of ₹ 3,523 Cr, Y-o-Y growth 21%
• Q3 FY24 Consolidated PAT (Uno Minda share) at ₹ 193 Cr, Y-o-Y growth 19%
• 9M FY24 Consolidated Revenue of ₹ 10,237 Cr, Y-o-Y growth 23%
• The Company board declares Interim dividend of Rs 0.65 per share i.e. 32.5% of face value

Figures in ₹ Crore

Particulars	Q3 FY24	Q2 FY24	QoQ%	Q3 FY23	YoY%	9M FY24	9M FY23	YoY%
Revenue from Operations	3,523	3,621	-3%	2,915	21%	10,237	8,348	23%
EBITDA	380	402	-5%	338	12%	1,111	923	20%
Margin (%)	10.8%	11.1%	-31 bps	11.6%	-83 bps	10.9%	11.1%	-20 bps
PBT before Share of Profit of associates/ JVs	226	258	-12%	215	5%	678	582	16%
Margin (%)	6.4%	7.1%	-70 bps	7.4%	-94 bps	6.6%	7.0%	-35 bps
PAT after share of Profit of associates/ JVs	205	238	-14%	174	18%	623	506	23%
Margin (%)	5.8%	6.6%	-14 bps	6.0%	-74 bps	6.1%	6.1%	2 bps
PAT (UML Share)	193	225	-14%	162	19%	591	471	26%
Margin (%)	5.5%	6.2%	-6 bps	5.6%	-72 bps	5.8%	5.6%	13 bps
EPS (diluted) in ₹	3.37	3.92		2.83		10.32	8.18

 

Gurugram – February 7^th, 2024 – Uno Minda limited (‘Uno Minda’) has announced its results for quarter and nine month period ended 31^st December 2023.  At a consolidated level, the company reported a strong revenue growth with revenue of ₹ 3,523 Cr for Q3 FY24 as against ₹ 2,915 Cr in the Q3 FY23, registering a rise of 21%. The company has continued to demonstrate significant outperformance in current quarter as well compared to Industry volumes. 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 EBITDA for Q3 FY24 has been reported as ₹ 380 Cr vis-à-vis ₹ 338 Cr in Q3 FY23, growth of 12%. Profit before tax for Q3 FY24 is at ₹ 226 Cr as against ₹ 215 Cr in Q3 FY23.

PAT (Uno Minda’s Share) for the quarter is ₹ 193 Cr in Q3 FY24 as against ₹ 162 Cr in Q3 FY23, an increase of 19%.

The Company reported achieved consolidated revenues of ₹ 10,237 Crores for nine month period ended 31^st December 2023, registering a growth of 23% on YoY basis. The EBIDTA for the period grew by 20% at ₹ 1,111 Crores. The profit after tax which is Uno Minda’s share for 9M FY24 was at ₹ 591  Crores as against ₹ 471 Crores in 9M FY23 reporting growth of 26%.

The Board has also approved and declared interim dividend of Rs 0.65 per share i.e. 32.5% of face value reflecting commitment from the company to returning value to shareholders on consistent basis.

Mr Nirmal K Minda, CMD, Uno Minda Group says;

“The Company has delivered yet another quarter of stellar growth solidifying our commitment to innovation and customer needs. By relentlessly focusing on cutting-edge technologies and deeply understanding the ever-evolving landscape of OEMs and customers, we have secured a competitive edge. We see immense potential in localization, not just to diversify our product portfolio, but also to actively contribute to the "Atmanirbhar Bharat" initiative.”

Sunil Bohra, CFO, Uno Minda Group says,

“Our company achieved remarkable financial performance in the last quarter, with a robust 21% year-on-year revenue growth. This success is attributed to our multi-pronged strategy focused on capacity and capability expansion, market share growth, offering smart products/solution and the transition to a system provider model.

Looking ahead, the commencement and ramp-up of multiple new expansions, coupled with positive industry volume guidance and rising consumer demand for advanced features, bolster our confidence in maintaining this strong momentum”

About Uno Minda Limited:  

Uno Minda Limited (formerly known as Minda Industries Limited) is a leading global manufacturer and supplier of proprietary automotive solutions and systems to OEMs as Tier-1. Incepted in 1958, it is one of the leading manufacturers of automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems and alloy wheels in India. It manufactures and supplies over 20 categories of automotive components and systems to leading Indian and international OEMs based in India, Asia, South and North America and Europe. It has a leadership position in India in almost all the products it manufactures. Technology and innovation are the two strong pillars of the organisation, on the basis of which it has continued to lead the emerging trends in the automotive sector, over the past few decades.

The Group is a global player in the automotive sector with overseas manufacturing facilities in Indonesia, Vietnam, Spain, and Mexico, as well as R&D Centres in India, Germany & Spain. It has over 73 manufacturing plants globally and has JVs/Technical Agreements with world renowned manufacturers from Germany, Korea, Japan etc.  

For more information about the Group and its businesses, please visit the website at http://www.unominda.com