Uno Minda gained 1.95% to Rs 739.85 after the firm bagged an allotment of 94.32 acres strategic land parcel at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions.
The company will build a greenfield passenger vehicle alloy wheel plant with a capacity of 120,000 wheels per month on the land parcel. The plant with a capital outlay of Rs 542 crore will be set up in a phased manner over the next 5 years with phase-1 commissioning in Q2 FY26.Nirmal K Minda, CMD, Uno Minda Group said, "Over the past two decades, our company has achieved sustained growth, resulting in multiple plants at various locations. To propel ourselves to the next leg of growth, we are embarking on a strategic expansion plan.
This plan involves the establishment of large-scale, technologically advanced megafactories alongside the consolidation of existing facilities for enhanced operational efficiency and economic optimization. As part of this plan, we started construction of mega 4W lighting in Pune Khed city last year and now groundbreaking for the 4W Alloy wheel plant at IMT Kharkhoda.
Uno Minda is a leading global manufacturer and supplier of proprietary automotive solutions and systems to OEMs as Tier-1. The company is one of the leading manufacturers of automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems and alloy wheels in India.
The companys consolidated net profit jumped 19.43% to Rs 193.46 crore on 20.83% increase in revenue from operations to Rs 3,522.91 crore in Q3 FY24 over Q3 FY23.
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