Uno Minda Ltd has reported its highest quarterly revenue for the quarter ended June 30, 2024, released on Wednesday. The company has delivered a strong 23% year-on-year (YoY) jump in its consolidated revenue from operations at ₹3,818 crore for Q1FY25 as against ₹3,093 crore in the same period last year.

The revenue growth was led by all of the company’s product segments, especially the lighting, alloy wheels, switches, sensors and controllers businesses. Uno Minda continues to outperform the industry with revenue growth of 23% in Q1 FY25, compared to an industry volume growth of 15%.

Its consolidated profit after (PAT) recorded a 15% YoY growth in the June 2024 ended quarter at ₹199 crore. In the corresponding quarter, Uno Minda posted a net profit of ₹173 crore. However, on a sequential basis, its net profit fell sharply by 31% from ₹289 crore reported in the preceding quarter.

At the operating level, the auto component maker reported consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) of ₹408 crore in the first quarter of this fiscal compared to ₹330 crore in the year-ago period, marking a 24% surge YoY.
The company’s EBITDA margin remained at 10.7% in the reporting quarter, the same as the previous year’s reading, while shedding significantly by 181 basis points (bps) from 12.5% in the corresponding period of the previous fiscal year.

Uno Minda’s PAT margin, however, declined 37 bps YoY and 241 bps on a quarter-on-quarter (QoQ) basis to 5.2% in Q1 FY25.

The auto components manufacturer has recently entered into a Technical License Agreement with AISIN, a Fortune Global 500 company, for the manufacture of Sunroof in India. The order for the sunroof has been bagged from one of the original equipment manufacturers (OEMs).

To support the orders received, Uno Minda’s Board has approved a capex of ₹63 crore for setting up a greenfield sunroof manufacturing facility at Bawal, which is likely to begin its commercial production by the fourth quarter of FY27, the company said in the earnings release on August 7, 2024.

“Our Company has reported its highest-ever quarterly revenue, driven by robust growth across its product lines. Our company’s strategic focus on incorporating emerging technologies and solutions into its portfolio has been instrumental in driving this exceptional performance,” said the CFO of Minda Group, Sunil Bohra on Wednesday.

Uno Minda traded 2.27% higher at ₹992.05 per piece on the BSE during the afternoon session at around 3 pm on Wednesday.