UNO Minda Ltd. share price target

We downgrade our rating from “BUY” to ‘ACCUMULATE on the stock, as we expect elevated capex, minimal immediate revenue delta from localization, and a cautious domestic demand outlook in the near term.

We maintain our HOLD on the stock and recommend a buy on dips strategy.

Despite the slow ramp-up in electric vehicles, the company is actively increasing its kit value across all segments meticulously through capacity expansion and strategic tie-ups. UNO Minda has always outperformed the underlying benchmark auto production by 1.5-2x growth. We expect the channel inventory correction has shown signs of improvement in the...

We recommend a BUY on the stock with a target price of Rs 900/share, implying an upside of 10% from the CMP.

We maintain our BUY rating on the stock.

We maintain our BUY rating on the stock.

Uno Minda posted healthy Q2 results with outperformance vs MSIL accelerating further and logging a ~6% beat on consolidated EBITDA.

We maintain our BUY rating on the stock.

We maintain our BUY rating on the stock.

Uno Minda Ltd. (UML) was established in 1985, serves as a key provider of automotive solutions and systems for Original Equipment Manufacturers, marking its significant presence in the automotive industry's supply chain for over 60 years through innovative product offerings. The company stands out as a top-tier producer in several domains, including automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems, and alloy wheels.

Focus on capacity expansion along with strong execution capability, we maintain our BUY rating on the stock.

With a continuing focus on capacity expansion along with strong execution capabilities, we revise our rating from HOLD to BUY.

We value the company at 8x FY25E EV/EBITDA to arrive at a target price of Rs 1,400/share. We maintain our BUY recommendation on the stock.