Uno Minda Records Strong Quarterly Revenue with 23 Percent YoY Growth
At a consolidated level, the company reported a strong revenue growth with revenue of INR 3,818 Cr for Q1 FY 25 as against INR 3,093 Cr for Q1 FY 24, registering a growth of 23 percent.
August 09, 2024. By Aishwarya
At a consolidated level, the company reported a strong revenue growth with revenue of INR 3,818 Cr for Q1 FY 25 as against INR 3,093 Cr for Q1 FY 24, registering a growth of 23 percent. Growth was driven by all product segments especially led by Lighting, Alloy Wheels, Switches, Sensors and Controllers. The company continues to outperform the industry with revenue growth of 23 percent vis-à-vis industry volume growth of 15 percent.
The EBITDA for Q1 FY25 has been reported as INR 408 crores vis-à-vis INR 330 crores in Q1 FY24, growth of 24 percent. PAT (UML Share) for the quarter is INR 199 crores in Q1 FY25 as against INR 173 crores in Q1 FY24, growth of 15 percent.
The company had recently entered into Technical License Agreement with AISIN, a Fortune Global 500 company to manufacture Sunroof in India. The Company has secured order for sunroof from one of the OEM. To support the orders received, the Board has now approved Capex of INR 63 crores for setting up greenfield Sunroof manufacturing facility at Bawal. The plant is expected to start commercial production by Q4 FY 27.
Nirmal K Minda, CMD, Uno Minda Group said," Our journey towards becoming a global automotive technology leader continues to gain momentum as we deliver yet another quarter of robust performance, reinforced by our commitment towards innovation and customer satisfaction. Our focus on strengthening and enriching our product portfolio around PACE megatrends aligns with the Atmanirbhar Bharat initiative, propelling us to a leadership position in the automotive sector. We remain optimistic about the future of automotive and committed to delivering superior value to our stakeholders."
Sunil Bohra, CFO, Uno Minda Group said, " Our Company has reported its highest-ever quarterly revenue, driven by robust growth across its product lines. Our company's strategic focus on incorporating emerging technologies and solutions into its portfolio has been instrumental in driving this exceptional performance. Committed to delivering sustainable value to shareholders, we are at the forefront of shaping India's automotive landscape toward a future characterized by innovation, personalization, connectivity, and environmental sustainability."
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