Uno Minda Records Highest Quarterly Revenue Of Rs. 2,555 Crore

Uno Minda, formerly Minda Industries has announced its results for the quarter ended June 30th 2022. At a consolidated level, the company registered the highest ever quarterly revenue of Rs. 2,555 crore in Q1 FY23 as against Rs. 1,603 cr for the corresponding quarter i.e., Q1 FY22, registering a rise of 59 per cent, while it grew by 6 per cent QoQ compared to Rs. 2,415 cr in Q4FY22. 

The company has witnessed growth in almost all its businesses specially the Alloy Wheel division. The company continues to outperform the industry with a growth of 59 per cent against the industry volume growth of 37 per cent YoY basis. It is pertinent to note that Q1 FY22 was impacted by the Delta Covid wave adversely impacting the Industry volumes during that period.

The EBITDA for Q1 FY23 stands at Rs. 266 cr with a growth of 81 per cent from Rs. 147 cr in Q1 FY22. Profit before tax for Q1 FY23 was at Rs. 159 cr as against Rs. 44 cr in Q1 FY22. PAT (MIL Share) for the quarter is Rs. 139 cr in Q1 FY23 as against Rs. 15 cr in Q1 FY22.

The company also informed that they have started commercial operations of 60,000 wheel per month expansion capacity in Bawal, Haryana as well as in the new lighting plant in Ahmedabad Gujarat.

Uno Minda has been in the forefront of capturing electrification trend in the automotive industry and has built one of the most formidable product portfolio for EV specific components. Starting with a low voltage EV product band of 48V to 72V, the company has now progressed to serve band of 48V to 96V i.e. The company has also started serving mini light commercial vehicles. The company also announced incremental orders wins from EV OEMs having annual peak revenues of Rs.  470 cr. With these orders, the total peak annual value for orders received by the company from EV OEMs till date stands at Rs. 980 cr with almost 52 per cent orders for EV specific products.