The company saw significant growth in almost all of its businesses, including the alloy wheel division. The company continues to outperform its industry counterparts with a growth rate of 59% and industry volume growth of 37% respectively.
EBITDA Q1 FY23 was INR 266, Cr. This is an increase of 81% from INR147 Crore in Q1 FY22.
Profit before tax in Q1 FY23 was INR159 Cr as opposed to INR44 Cr for Q1 Fiscal22. Meanwhile, INR 15 Crore for Q1 Financial 22. The PAT for Q1 FY23 was Rs 133.5 crore.
Nirmal K Minda, CMD, Uno Minda, said, “Despite some tough times in the last few years, the auto sector is poised for growth with gradual release of supply-side constraints, a variety of new launches across OEMs and product segments. Has happened. , and higher acceptance and penetration of electric vehicles in the market. At Uno Minda, we are well positioned to ride this new wave of growth with our diversified and technologically advanced product portfolio.
The company also said that it has commenced commercial operations to expand its capacity for an additional 60,000 wheels per month. Bawal, Haryana as well as new lighting plant. Ahmedabad, Gujarat.
With a low voltage EV product range of 48V – 72V, the company now has a service band of 48V – 96V. It also started servicing mini-light commercial trucks.
The company also announced incremental orders from OEMs of electric vehicles with an annual revenue of over Rs 470 crore. With these orders, there is a total maximum annual value of Rs 980 crore for the orders received from EV OEMs. About 52% of these orders were for EV-specific items.
Sunil Bohra, CFO, Uno Minda, said, “Uno Minda has grown steadily over the years. We have maintained our strong performance during Q1 FY23. The company was able to grow its business by increasing kit prices, increasing SOBs and customers, and exploring new technology products. With the EV industry gaining momentum and our readiness to serve best-in-class products, we are optimistic about capturing a major share of the market going forward.
Read also:
The company also announced that it has achieved INR 106.6 Crore in EBITDA margin for the second consecutive quarter. This is due to increased operating efficiency and an EBITDA margin of 10.6%. This is an annual growth rate of 246%.