Uno Minda rises 6% after reporting Q2 results; PAT up 9%, revenue up 17%

UNO Minda shares gained 5.8 per cent on Tuesday and registered an intraday high of Rs 975.7 per share on BSE. The buying interest in the stock came after the company reported Q2 results. 

 

Around 11:57 AM, Uno Minda shares were up 5.71 per cent at Rs 974.95 per share on BSE. In comparison, the BSE Sensex was flat at 79,496.96. The market capitalisation of the company stood at Rs 55,863.21 crore. The 52-week high of the stock was at Rs 1,252.85 per share on BSE and 52-week low of the stock was at Rs 605.05 per share.

 

On Tuesday, during market hours, the auto component maker reported a consolidated net profit of Rs 245 crore, up 9 per cent, as compared to Rs 225 crore a year ago. 

 

 

The company recorded a revenue of Rs 4,245 crore, up 17.2 per cent, as compared to Rs 3,621 crore a year ago. 

 

The Earnings before interest, tax, depreciation, and amortisation (Ebitda) for the second quarter stood at Rs 482 crore as compared to Rs 402 crore a year ago which implies a rise of 20 per cent. 

 

The Ebitda margins of the company for the quarter under review stood at 11.4 per cent as compared to 11.1 per cent.

 

The board also approved further Investment of up to Rs 5 crore in the shares of Uno Minda Auto Spare Parts and Component Trading L.L.C., Dubai to be made by Sam Global Pte Ltd, Singapore, a subsidiary of the company in one or more tranches. 

 

"We have delivered yet another strong quarterly performance, with highest-ever quarterly revenue for the quarter. Our approach towards strengthening customer relationships, forging strategic partnerships and new alliances with a strategic vision; we aim to capture greater market opportunities, cater to the automotive industry, and deliver long-term value," said Sunil Bohra, CFO, Uno Minda Group.

 

Bohra added: Our commitment to research and development (R&D) fuels innovation and the development of new products. Our diverse product portfolio, robust manufacturing capabilities, and advanced technology solutions solidify our position as a preferred global systems manufacturer.

 

UNO Minda is an Indian multinational company that manufactures a wide range of automotive components, primarily focusing on electrical, safety, security, and lighting solutions for the automotive sector.

 

In the past one year, Uno Minda shares have gained 45 per cent against Sensex's rise of 22 per cent.