Uno Minda Limited has reported a strong revenue growth of INR 3,523 crore for Q3 FY24 as against INR 2,915 crore for 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 company said.
The EBITDA for Q3 FY24 has been reported as INR 380 crore vis-à-vis INR 338 crore in Q3 FY23, a growth of 12%. Profit before tax for Q3 FY24 is at INR 226 crore as against INR 215 crore in Q3 FY23.
PAT (Uno Minda’s Share) for the quarter is INR 193 crore in Q3 FY24 as against INR 162 in Q3 FY23, an increase of 19%.
The Company reported consolidated revenues of INR 10,237 crore for the nine-month period to December 31, 2023, registering a growth of 23% on YoY basis. The EBITDA for the period grew by 20% to INR 1,111 Crores. The profit after tax which is Uno Minda’s share for 9M FY24 was at INR 591 crore as against INR 471 crore in 9M FY23, a growth of 26%.
The Board has also approved and declared interim dividend of INR 0.65 per share i.e. 32.5% of face value.
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/solutions 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”.