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Uno Minda, topline for the quarter came in at ₹ 5,557 crore, up by ~24% YoY

ICICIdirect Research 05 Aug 2026 DISCLAIMER

News: On the consolidated basis, at Uno Minda, topline for the quarter came in at ₹ 5,557 crore, up by ~24% YoY. This is amidst underlying OEM volume growth of ~20%+ (2-W+PV). EBITDA in Q1FY27 came in at ₹ 572 crore with corresponding EBTDA margins at 10.3% (down ~100 bps QoQ). PAT for the quarter came in at ₹ 296 crore (up 2% YoY). 

View: It remains focused on calibrated capacity expansion aligned with OEM growth and EV adoption. Despite temporary commodity and wage-related headwinds, the company maintained its annual margin guidance while continuing to invest aggressively in future growth. More importantly, the commercialization cycle of several large capex projects coincides with a healthy order pipeline spanning seating, lighting, sunroofs and EV systems, which should support sustained growth over the next few years. The company's sizeable project pipeline, ₹500+ crore sunroof order book, continued FY27 capex plan and confidence in achieving 11% ±50 bps EBITDA margins indicate that management remains focused on balancing growth with profitability. The new seating plant has already secured an anchor customer. It anticipates growing >= 1.5 times the industry growth rate over the long term. 

Impact: Positive

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