Conference Call with UNO Minda Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
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." Result PDF
Auto Parts & Equipment company UNO Minda announced Q2FY24 & H1FY24 results: Consolidated Q2FY24: Revenue of Rs 3,621 crore, YoY growth of 26% EBITDA of Rs 402 crore, YoY growth of 26% PBT of Rs 258 crore, YoY growth of 24% PAT (UNO Minda share) at Rs 225 crore, YoY growth of 32% Reported highest-ever quarterly consolidated revenue and PAT Announced setting up a new Greenfield 4Wheeler Alloy wheel Plant with a capacity of 1,20,000 GDC alloy wheels per month in a phased manner Consolidated H1FY24: The Company reported achieved consolidated revenues of Rs 6,714 crore for H1FY24, registering a growth of 24% on a YoY basis. EBIDTA for H1FY24 grew by 25% at Rs 732 crore. Profit after tax which is UNO Minda’s share for H1FY24 was at Rs 398 crore as against Rs 309 crore in H1FY23 reporting a growth of 29%. Nirmal K Minda, CMD, Uno Minda Group says, “Indian automotive industry is experiencing a transformational shift towards premium vehicles, cleaner fuel, and electrification as it navigates a rapidly changing global market. Our continued focus on innovation, customer-centric approach, and strong operational and financial discipline have propelled us to achieve the highest quarterly revenue and profit in yet another quarter. Indian Automotive Industry is on the cusp of tremendous growth in the coming years moving towards its true potential. We are confident of seizing this opportunity and leading the automotive industry not only in our traditional products segment but also emerging technologies thereby creating significant value addition for all our stakeholders." Sunil Bohra, CFO, Uno Minda Group says, “Uno Minda Limited continues to showcase a robust quarterly performance, achieving a remarkable 26% year-on-year revenue growth despite a stagnant industry volume. Our extensive and inventive product range has firmly established us as the preferred supplier for both domestic and international OEMs. We have been consistently bolstering our technological capabilities and production capacities to align with the ever-changing demands of our customers. Our recent greenfield expansion in the 4W alloy wheel segment is another strategic move, positioning us to harness the burgeoning growth opportunities in this market.” Result PDF