Uno Minda Demonstrates 21% YoY Quarterly Revenue Growth

Mobility Outlook Bureau
08 Feb 2024
03:30 PM
1 Min Read

The stellar performance extends across all product segments, covering established lines such as lighting, switches, and alloy wheels, as well as emerging areas like electric vehicle (EV) technology, controllers, and sensors.

Uno Minda Demonstrates 21% YoY Quarterly Revenue Growth mobility outlook

Uno Minda Limited has reported a robust 21% year-on-year (YoY) growth in its quarterly revenue, showcasing continued financial strength and market resilience. The company's Q3 FY24 consolidated revenue reached INR 3,523 Crore, a substantial increase from INR 2,915 Crore in Q3 FY23.

For the nine-month period ending December 31, 2023, Uno Minda Limited achieved consolidated revenues of INR 10,237 Crore, marking a remarkable YoY growth of 23%. The EBIDTA for the period grew by 20% to INR 1,111 Crore, and the Profit After Tax (Uno Minda’s share) for 9M FY24 reached INR 591 Crore, showing a YoY growth of 26%.

The company's Board of Directors declared an interim dividend of INR 0.65 per share, underscoring Uno Minda's commitment to consistently returning value to shareholders.

Nirmal K Minda, Chairman and Managing Director of Uno Minda Group, expressed satisfaction with the company's performance, stating, '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.

Sunil Bohra, Chief Financial Officer of Uno Minda Group, attributed the success to the company's multi-pronged strategy, including capacity and capability expansion, market share growth, offering smart products and solutions, and transitioning to a system provider model. Looking ahead, Bohra expressed confidence in maintaining the strong momentum with new expansions and positive industry volume guidance.

The company sees immense potential in localisation, not only to diversify its product portfolio but also to actively contribute to the 'Atmanirbhar Bharat' (self-reliant India) initiative, aligning with the broader goals of economic independence and sustainability.

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