Sunil Bohra Group CFO and CEO (Safety and Comfort Systems) Uno Minda
In Q1FY24, the company’s revenue surged by 21 per cent on YoY basis to ₹3,093 crore while the net profit zoomed by 24 per cent on YoY basis to ₹173 crore. What were the contributing factors to your performance?
Uno Minda has been consistently reporting robust growth every quarter. We continued our growth momentum in Q1FY24 as well. Our diversified product portfolio built over decades with focus on world-class quality and advance technologies has been the key reason for such a sustained outperformance. During the last quarter we have witnessed growth amongst all our product segments led by automotive lighting, alloy wheel and electric vehicle-specific products. We recently commissioned a new four-wheeler lighting plant in Gujarat and a new EV-specific components plant in Farukhnagar, Haryana. Both these plants are ramping up production with increase in volumes from underlying orders. With a good start, the rest of the year also looks promising with multiple plant commissioning and start of production for various new orders.
How does the acquisition of Minda Kosei Aluminium fit into the long-term objectives of the company?
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