Uno Minda delivers yet another quarter of stellar performance in Q4FY24

Uno Minda limited ('Uno Minda') has announced its results for quarter and the year ended 31st March 2024. At a consolidated level, the company reported a strong revenue growth with revenue of Rs. 3,794 Cr for Q4 FY24 as against Rs. 2,889 Cr in the Q4 FY23, registering a rise of 31%. 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 Q4 FY24 has been reported as Rs. 474 Cr vis-a-vis Rs. 319 Cr in Q4 FY23, growth of 48%. Profit before tax for Q4 FY24 is at Rs. 302 Cr as against Rs. 209 Cr in Q4 FY23.

PAT (Uno Minda's Share excluding exceptional income) for the quarter is Rs. 269 Cr in Q4 FY24 as against Rs. 183 Cr in Q4 FY23, an increase of 47%.

The Company reported achieved consolidated revenues of Rs. 14,031 Crores for FY24 registering a growth of 25% on YoY basis. The EBIDTA for the period grew by 28% at Rs. 1585 Crores. The profit after tax which is Uno Minda's share excluding exceptional income for FY24 was at Rs. 860 Crores as against Rs. 654 Crores in FY23 reporting growth of 32%.

The Board has also approved and declared final dividend of Rs 1.35 per share i.e. 67.5% of face value reflecting commitment from the company to returning value to shareholders on consistent basis.

Pursuant to additional orders the Board has also approved capital expenditure of Rs 300 Crores for expansion of 2W Alloy wheel plant at Supa capacity by 2.00 Mn. The enhanced capacity is expected to commission by Ql FY26. Post expansion, capacity of 2W alloy wheel will get enhanced to 7.5 to 8 Mn Wheels per annum.

Mr Nirmal K Minda, CMD, Uno Minda Group says; "Auto Industry continue to register robust growth with preference to better features for safety, comfort and cleaner mobility. Along with passenger vehicle, two-wheeler segment also joined the growth trajectory in current quarter. Uno Minda with its diversified product portfolio across the vehicle legment along with strong focus on ·emerging automotive technology leads the industry with strong operating and financial performance."

Sunil Bohra, CFO, Uno Minda Group says, "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."

Shares of UNO Minda Limited was last trading in BSE at Rs. 845.35 as compared to the previous close of Rs. 835.60. The total number of shares traded during the day was 177919 in over 7033 trades.

The stock hit an intraday high of Rs. 876.30 and intraday low of 835.10. The net turnover during the day was Rs. 151921840.00.

Source : Equity Bulls

Keywords

UNOMinda INE405E01023 Q4FY24 FY2024 ResultUpdate FY24