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Auto Parts & Equipment company UNO Minda announced Q3FY24 & 9MFY24 results:
Consolidated Q3FY24:
- Consolidated Revenue Growth: Uno Minda reported a consolidated revenue of Rs 3,523 crore for Q3FY24, marking a notable year-over-year (YoY) growth of 21% from Rs 2,915 crore in Q3FY23.
- EBITDA: The EBITDA for Q3FY24 was Rs 380 crore, up by 12% compared to Rs 338 crore in Q3FY23.
- Profit Before Tax (PBT): PBT for Q3FY24 stood at Rs 226 crore, a 5% increase from the Rs 215 crore reported in Q3FY23.
- Profit After Tax (PAT): The company's PAT attributable to Uno Minda for Q3FY24 was Rs 193 crore, which represents a 19% rise from Rs 162 crore in Q3FY23.
Consolidated 9MFY24:
- Revenue Growth: For 9MFY24, consolidated revenues reached Rs 10,237 crore, showing a 23% growth YoY.
- EBITDA: The 9MFY24 EBITDA was Rs 1,111 crore, a 20% increase from the previous year.
- PAT Growth: PAT for 9MFY24 attributable to Uno Minda was Rs 591 crore, a significant rise of 26% YoY.
Dividend Declaration:
- The board has declared an interim dividend of Rs 0.65 per share, which is 32.5% of the face value.
Nirmal K Minda, CMD of Uno Minda Group: "The Company has delivered yet another quarter of stellar growth solidifying our commitment to innovation and customer needs. By relentlessly focusing on cutting-edge technologies and deeply understanding the ever-evolving landscape of OEMs and customers, we have secured a competitive edge. We see immense potential in localization, not just to diversify our product portfolio, but also to actively contribute to the 'Atmanirbhar Bharat' initiative."
Sunil Bohra, CFO of Uno Minda Group: "Our company achieved remarkable financial performance in the last quarter, with a robust 21% year-on-year revenue growth. This success is attributed to our multi-pronged strategy focused on capacity and capability expansion, market share growth, offering smart products/solutions and the transition to a system provider model.
Looking ahead, the commencement and ramp-up of multiple new expansions, coupled with positive industry volume guidance and rising consumer demand for advanced features, bolster our confidence in maintaining this strong momentum."
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