- 07 Feb 2025
- ICICIdirect Research
UNO MINDA’S TOPLINE PERFORMANCE LARGELY TRACKED ITS TREND OF OUTPERFORMING BASE INDUSTRY VOLUME GROWTH
UNOMINDA - 903 Change: 42.15 (4.90 %)News: On the consolidated basis, at Uno Minda, Topline for the quarter came in at ₹ 4,184 crore, up by 19% YoY. EBITDA in Q3FY25 came in at ₹ 457 crore (up 20% YoY) with corresponding EBTDA margins at 10.9% (up 15bps YoY, but down 44 bps QoQ). PAT for the quarter came in at ₹ 233 crore (up 20% YoY).
View: Uno Minda’s topline performance largely tracked its trend of outperforming base industry volume growth (automotive industry grew by ~6% YoY in production volumes). The company continues to be aggressive on the capacity expansion plans and is proactively securing land parcels in all major auto hubs (spent ₹350 crore) to meet the growing demand from OEMs. In 9MFY25, the company has done a capex of ~₹1,324 crore, with this, net debt increased to ~₹1,950 crores as on 31st Dec’24. It anticipates to grow >= 1.5 times the industry growth rate over the long term. We expect the company to maintain its outperformance trend due to its persistent focus on increasing content and tangible work being done on the EV components front.
Impact: Positive