Uno Minda, has reported a remarkable 47% year-on-year (YoY) increase in consolidated profit, reaching ₹269 crore in the fourth quarter of FY24. This significant rise comes in comparison to the ₹183 crore profit recorded in the same period last year. The company’s revenue from operations also saw substantial growth, climbing 31% to ₹3,794 crore in Q4 FY24, up from ₹2,889 crore in Q4 FY23, according to an official release.
Nirmal K Minda, Chairman and Managing Director of Uno Minda Group, highlighted the robust growth in the auto industry, emphasizing the increasing preference for enhanced safety features, comfort, and cleaner mobility. “The auto industry continues to register robust growth with a preference for better features for safety, comfort, and cleaner mobility. Along with the passenger vehicle segment, the two-wheeler segment also joined the growth trajectory in the current quarter. Uno Minda, with its diversified product portfolio across the vehicle segment and strong focus on emerging automotive technology, leads the industry with strong operating and financial performance,” Minda stated.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q4 FY24 stood at ₹474 crore, marking a 48% increase from ₹319 crore in Q4 FY23. Sunil Bohra, Chief Financial Officer of Uno Minda Group, expressed his optimism regarding the company’s strategic initiatives and future growth. “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,” Bohra commented.
Looking ahead, Uno Minda has planned a capital expenditure of ₹300 crore for the current financial year to expand the two-wheeler alloy wheel plant at Supa. This expansion aims to increase the plant’s capacity by 2 million wheels per year, with the enhanced capacity expected to be commissioned by the first quarter of FY26. Post-expansion, the capacity of two-wheeler alloy wheels will be enhanced to 7.5 to 8 million wheels per year, the company announced.
