The company's consolidated revenue from operations jumped by Rs 2,889 crore in Q4 FY23 as compared to Rs 2,415 crore in the same period a year ago.
19 May 2023 | 2344 Views | By Autocar Professional Bureau
Auto component maker Uno Minda reported a 27% growth in its consolidated profit after tax (PAT) at Rs 183 crore for the fourth quarter ended March 2023. The company posted Rs 144 crore in consolidated PAT in the same quarter a year ago.
Meanwhile, its consolidated revenue from operations ...
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Auto component maker Uno Minda reported a 27% growth in its consolidated profit after tax (PAT) at Rs 183 crore for the fourth quarter ended March 2023. The company posted Rs 144 crore in consolidated PAT in the same quarter a year ago.
Meanwhile, its consolidated revenue from operations jumped by Rs 2,889 crore in Q4 FY23 as compared to Rs 2,415 crore in the same period a year ago.
During the quarter under review, the company's EBITDA stood at Rs 319 crore as compared to Rs 276 crore in Q4 FY22.
According to Nirmal Minda, CMD, Uno Minda Group, the last fiscal year has been a year of rebound and robust growth for the automotive sector. He also mentioned that the company has outperformed the industry across all product categories on the back of its diversified product portfolio.
"With ongoing R&D, incremental capex, and our strategic expansion, we are committed to increasing the wallet share of our existing customers and focusing on adding new customers to our universe," Minda added.
For the full year FY23, the company's consolidated PAT grew 8 percent at Rs 654 crore as against Rs 356 crore in FY22.
The company's consolidated revenue in FY23 also rose by 35 percent at Rs 11,236 crore as against Rs 8,313 crore in the previous financial year. The EBITDA for FY23 stood at Rs 791 crore as compared to Rs 885 crore, up 40 percent.
As per Sunil Bohra, CFO, Uno Minda Group, the company's healthy growth is a result of an efficient, planned strategy to achieve sustainable growth in the industry in combination with its diverse product portfolio and strong customer base.
"We continue to focus on providing localized products to the market and add technologically advanced products to our basket. We remain optimistic of outperforming the industry in the years to come," he added.
Fundraise:
Uno Minda is planning to raise funds of about Rs 1500 crore, by way of debt issue, qualified institutional placement etc.
"(The sum will be raised) in one or more tranches, during a period of one year from the date of passing of Special Resolution by the Members of the Company, for the company's growth strategy and to augment the long term resources of the company for meeting the funding requirements of its business activities and general corporate and other purposes.
Uno Minda (formerly known as Minda Industries) offers a range of products across various verticals of auto components, such as switching systems, acoustic systems, and alloy wheels, among others.