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Uno Minda shares surge over 9% on strong Q2 earnings

Uno Minda is poised to commence operations at its four-wheeler lighting plant in Pune by Q3 FY25.

November 12, 2024 / 13:55 IST
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    Shares of Uno Minda surged over 9 percent following a robust Q2FY25 earnings report, showing solid growth in both net profit and revenue.

    By 1.50 PM, the stock was trading 9 percent higher at Rs 1,003. The stock gained 46 percent year-to-date, far outpacing the Nifty 50's 10 percent rise in the same period.

    For Q2FY25, Uno Minda's consolidated net profit climbed 23 percent quarter-on-quarter and 15 percent year-on-year to Rs 245.2 crore, while revenue from operations grew 11 percent QoQ and 17 percent YoY, reaching Rs 4,244.8 crore. EBITDA rose by 20 percent year-on-year to Rs 482 crore, with an EBITDA margin expansion to 11.36 percent from 11.09 percent in the year-ago period.

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    In terms of operational highlights, Uno Minda initiated production at its new greenfield plant in Farrukhnagar and has plans to shift its Manesar facility by Q3FY27. The company is also poised to commence operations at its four-wheeler lighting plant in Pune by Q3 FY25.

    While Uno Minda continues to perform well, the company is facing challenges in its European operations. Its European subsidiary, Clarton Horn, is under pressure from headwinds in the European auto market, with the agricultural vehicle segment proving particularly challenging for exports.

    Uno Minda is a major player in the auto components industry, catering to both international and domestic markets with a diversified portfolio spanning acoustics, switches, castings, lighting, and more, serving both OEMs and the replacement market.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Nov 12, 2024 01:55 pm

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