Diversifying auto products and localisation push drives FY2023 growth for Uno Minda

Diversifying auto products and localisation push drives FY2023 growth for Uno Minda

Automotive tier 1 supplier Uno Minda has announced its results for Q4 and FY2023. The company clocked consolidated revenue of Rs 11,236 crore for FY2023, up 35 percent, as against Rs 8,313 crore a year ago. The EBITDA came at Rs 1,242 crore, up 40 percent and net profit of Rs 654 crore versus Rs 356 crore in FY2022.

For Q4 FY2023, the revenue came at Rs 2,889 crore, up 20 percent as against Rs 2,415 crore a year ago. The EBITDA was Rs 319 crore, up 16 percent and a net profit of Rs 183 crore versus Rs 144 crore a year ago.

Nirmal K Minda, CMD, Uno Minda Group said, “Fiscal year 2023 has been a year of rebound and robust growth for the automotive sector. We have outperformed industry across all products categories with our diversified product portfolio. With ongoing R&D, incremental capex and our strategic expansion, we are committed to increasing the wallet share from our existing customers and focus on adding new customers to our universe.” 

Sunil Bohra, CFO, Uno Minda Group said, “Uno Minda’s healthy growth is a result of efficient planned strategy to achieve a sustainable growth in the industry in combination with our diverse product portfolio and strong customer base. We continue to focus on providing localised products to the market and add new and technologically advanced products to our basket. We remain optimistic of outperforming the Industry in the years to come.”

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