Uno Minda announced that ICRA has assigned the rating ICRA AA+; Stable on the company's non-convertible debenture programme of Rs 400 crore. Powered by Capital Market - Live

Uno Minda has appointed Vishnu Johri as Group Function Head -Manufacturing Excellence, Quality & Industry 4.0 (under the category of Senior Management Personnel) with effect from 04 December 2024.Powered by Capital Market - Live

Net profit of Uno Minda rose 8.96% to Rs 245.15 crore in the quarter ended September 2024 as against Rs 224.99 crore during the previous quarter ended September 2023. Sales rose 17.22% to Rs 4244.79 crore in the quarter ended September 2024 as against Rs 3621.30 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales4244.793621.30 17 OPM %11.3611.09 - PBDT486.93436.45 12 PBT336.07311.05 8 NP245.15224.99 9 Powered by Capital Market - Live

The Board of Uno Minda at its meeting held on 12 November 2024 has approved the further Investment of upto Rs. 5 (Five) crore in the shares of Uno Minda Auto Spare Parts and Component Trading L.L.C., Dubai to be made by Sam Global, Singapore, Wholly Owned Subsidiary of the Company in one or more tranches. Powered by Capital Market - Live

The headline equity benchmarks traded with minor losses in early afternoon trade. The Nifty traded below the 24,150 mark after hitting the day's high of 24,242.00 in early trade. Auto shares witnessed selling pressure for the fourth consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 105.45 points or 0.13% to 79,404.13. The Nifty 50 index lost 34.20 points or 0.14% to 24,107.10. The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index added 0.32%. The market breadth was negative. On the BSE, 1,905 shares rose and 1,909 shares fell. A total of 118 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.54% to 14.19. The Nifty 28 November 2024 futures were trading at 24,208, at a premium of 100.90 points as compared with the spot at 24,107.10. The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 26.25 lakh contracts at the 25,000 strike price. Maximum Put OI of 44.4 lakh contracts were seen at 23,000 strike price. Buzzing Index: The Nifty Auto index slipped 0.86% to 23,526.35. The index fell 2.53% in four consecutive trading sessions. Cummins India (down 2.66%), Bosch (down 2.33%), Tata Motors (down 1.67%), Sundram Fasteners (down 1.62%), Ashok Leyland (down 1.34%), Bajaj Auto (down 1.12%), Samvardhana Motherson International (down 1.06%), Apollo Tyres (down 0.84%), Eicher Motors (down 0.77%) and Maruti Suzuki India (down 0.69%) declined. On the other hand, Tube Investments of India (up 0.97%), Exide Industries (up 0.86%) and TVS Motor Company (up 0.42%) edged higher. Stocks in Spotlight: Uno Minda jumped 6.59% after the company's consolidated net profit rose 8.96% to Rs 245.15 crore on 17.21% jump in revenue from operation to Rs 4,244.79 crore in Q2 FY25 over Q2 FY24. Triveni Turbine rallied 5.71% after the company's consolidated net profit jumped 41.59% to Rs 90.9 crore on 29.22% rise in net sales to Rs 501.1 crore in Q2 FY25 over Q2 FY24.Powered by Capital Market - Live

The revenue growth was driven by all product segments especially led by lighting, alloy wheels, switches, sensors and controllers. The company continues to outperform the industry with revenue growth of 17% vis-a-vis industry volume growth of 9%. Profit before tax for Q2 FY25 was at Rs 344.61 crore, up 10.78% as against Rs 311.05 crore in Q2 FY24. EBITDA jumped 19.90% year on year to Rs 482 crore in the quarter ended 30 September 2024. EBITDA margin improved to 11.4% in Q2 FY25 as compared with 11.1% reported in Q2 FY24. On half year basis, the company's consolidated net profit grew by 11.67% to Rs 444.18 crore on 20.08% increased in revenue from operations to Rs 8062.30 crore in H1 FY25 over H1 FY24. Nirmal K Minda, CMD, Uno Minda Group says, We are committed to drive sustainable growth and innovation in the automobile market with a greater focus on localisation and technology advancement. Our focused approach has yielded significant results with company achieving new milestone every quarter. As India emerges as a global automotive hub, we are well-positioned to capitalize on this growth with our diversified portfolio catering all vehicle segments. We remain committed to investing in cutting-edge technologies to drive future growth.' Sunil Bohra, CFO, Uno Minda Group says, We have delivered yet another strong quarterly performance, with highest-ever quarterly revenue for the quarter. Our approach towards strengthening customer relationships, forging strategic partnerships and new alliances with a strategic vision; we aim to capture greater market opportunities, cater to the automotive industry, and deliver long-term value. Our commitment to R&D fuels innovation and the development of new products. Our diverse product portfolio, robust manufacturing capabilities, and advanced technology solutions solidify our position as a preferred global systems manufacturer.' Meanwhile, the company's board of directors has approved the further investment of upto Rs 5 crore in the shares of Uno Minda Auto Spare Parts and Component Trading L.L.C., Dubai to be made by Sam Global, Singapore, wholly owned subsidiary of the company in one or more tranches. 100% investment shall be made by SAM Global PTE, Singapore. The proposed investment is expected to be completed in or more tranches within a period of 3 years. Uno Minda (formerly Minda Industries) is one of the leading manufacturers of automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems and alloy wheels.Powered by Capital Market - Live

UNO Minda will hold a meeting of the Board of Directors of the Company on 12 November 2024Powered by Capital Market - Live

The frontline indices traded with modest gains in morning trade. The Nifty traded above the 26,050 mark and hit record high of 26,067. IT shares gained after declining in the past trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex rose 236.62 points or 0.28% to 85,400.13. The Nifty 50 index added 62.85 points or 0.24% to 26,067. The Sensex and Nifty clocked an all-time high of 85,433.31 and 26,067, respectively in morning trade. In the broader market, the S&P BSE Mid-Cap index fell 0.50% and the S&P BSE Small-Cap index shed 0.34%. The market breadth was positive. On the BSE, 1,545 shares rose and 2,063 shares fell. A total of 163 shares were unchanged. Buzzing Index: The Nifty IT index gained 0.67% to 42,243. The index shed 0.67% in the past trading session. Persistent Systems (up 0.95%), HCL Technologies (up 0.78%), LTIMindtree (up 0.73%), Wipro (up 0.6%), Infosys (up 0.59%), Mphasis (up 0.56%) and Tata Consultancy Services (up 0.46%) advanced. On the other hand, Coforge (down 0.91%), L&T Technology Services (down 0.1%) and Tech Mahindra (down 0.09%) edged lower. Stocks in Spotlight: Uno Minda shed 0.63%. The company said that its arm has entered into agreement with Korea-based Hyundai Mobis to manufacture licensed products like speakers. Cipla added 0.02%. The company's UK-based arm has signed a pact to acquire a 6.9% stake held by Jiangsu Xidi Pharma in a China-based unit post-acquisition Jiangsu to become a wholly owned step-down subsidiary of the company. JBM Auto fell 0.50%. The firm said that it has incorporated unit JBM Electric Vehicles in Singapore to carry on the business in the automotive sector for electric vehicles internationally.Powered by Capital Market - Live

Minda Onkyo India, subsidiary of Uno Minda has entered into a technical license agreement with Hyundai Mobis Co., Korea on 25 September 2024 for manufacturing of licensed products i.e. speakers.Powered by Capital Market - Live

Uno Minda announced its expansion in Indonesia and India. The company's wholly owned subsidiary, PT Minda Asean Automotive (PTMA), has secured additional orders, including orders for long tail lamps for passenger cars from OEMs in Indonesia. To meet this growing demand, Uno Minda will establish a new manufacturing facility in Indonesia, expected to be operational by Q4 FY26. Uno Minda has been a significant player in the Indonesian market since 2005, when it established its first manufacturing facility. PTMA currently supplies components and systems to major two-wheeler OEMs in the country. The new plant will enable Uno Minda to diversify its product offerings and cater to the growing demand for passenger car components. Once the new plant is commissioned, the existing plant will also be relocated to the new site to consolidate operations and achieve economies of scale. The total capital expenditure for the new plant is estimated at Rs 210 crore. In addition to its Indonesian expansion, Uno Minda is also expanding domestic capacities. The Company's one of the key subsidiary Uno Mindarika Private ( UMRPL) had recently set up a new plant in Farrukhnagar, Gurugram, Haryana. In phase 1 of this new plant, it had set up manufacturing facilities for part products to be used for manufacturing of automotive switches. UMRPL will be shifting existing manufacturing plant from Manesar, Nawada Fatehpur, Haryana to Farrukh Nagar, Haryana in Phase-II with an Investment of Rs 120 crore. The phased relocation will be completed by Q3 FY27, ensuring uninterrupted supply to customers and provide flexibility for future growth. In addition to the above expansion in Indonesia and India, the company's joint venture company, Toyoda Gosei Minda India, through its subsidiary Toyoda Gosei South India, will be setting up a new plant in Harohalli, Karnataka. This facility will manufacture safety systems (airbags, steering wheels, etc.) and interior and exterior products (console boxes, etc.) to meet the increased demand. The total capital expenditure for this new plant in Harohalli is estimated at Rs 283 crore, with operations expected to commence in Q1 FY27. Powered by Capital Market - Live