Uno Minda limited has announced its results for quarter and nine month period ended 31st 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 31st 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.
Nirmal K Minda, CMD, Uno Minda Group, said, “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, said, “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”
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