- The plant is intended to be commissioned by Q4 FY24
- The group registered its highest-ever quarterly performance recently
As per the latest reports, the board of Uno Minda, a Haryana-based conglomerate engaged in manufacturing, development and sales of diverse auto components, has approved the setting up of a new 4W lighting plant with a total capital expenditure of Rs 400 crore. The amount will be spent over the next five years in a phased manner.
It is learnt that the plant is intended to be commissioned by Q4 FY24, and the outlay in Phase 1 will be Rs 230 crore during the next two years. CMD of Uno Minda, Nirmal K Minda said that the company is evaluating various locations to set up the plant and is expected to finalise it within a quarter.
“We have been taking measured efforts to increase our share of business with OEMs, consistently increase kit value and offer new and advanced technologies. Our efforts have been reaping benefits with consistent outperformance and leadership across all our products,“ he further added.
Uno Minda Group CFO Sunil Bohra said: “Through continuous investment in both our manufacturing capacities and R&D activities, we have been making significant in-roads with OEMs, thereby increasing our revenues and profitability. We have also improved our margin profile supported by operating leverage.”
It is interesting to note that the group witnessed the highest-ever quarterly performance with revenue of Rs 2,877 crore in the second quarter against Rs 2,114 crore. EBITDA was Rs 318 Crore, which is a 40% YoY growth from 2Q22’s Rs 228 crore.
Uno Minda Limited (formerly known as Minda Industries Limited) is a leading Tier 1 supplier of automotive components to various original equipment manufacturers (OEMs) across geographies. The IMT-Manesar-based Group, which was incepted way back in 1958, is now a global player in the automotive sector with overseas manufacturing facilities in Indonesia, Vietnam, Spain, Mexico, Morocco & Colombia as well as Design Offices in Taiwan, Japan & Spain.
