Uno Minda (532539) Q1 25/26 earnings summary

Executive summary

• Consolidated revenue from operations for Q1 FY26 was INR 4,420 crore, up 16% year-over-year, driven by broad-based growth across product lines and strong export momentum, especially in switches, lighting, and emerging segments like sensors and controllers.

• Net profit after tax attributable to shareholders (normalized) was INR 239 crore, up 21% year-over-year.

• Major milestones included the acquisition of FRIWO, land acquisition at Chhatrapati Sambhajinagar, and the start of localized camera module manufacturing.

• The company completed the acquisition of a 49.90% stake in Uno Minda EV Systems Pvt. Ltd. and e-drive business assets in Germany and Vietnam.

• The Board recommended a final dividend of INR 1.50 per share for FY25, subject to shareholder approval.

Financial highlights

• Revenue from operations (excluding prior period income) grew 16% year-over-year to INR 4,420 crore.

• Normalized EBITDA stood at INR 474 crore, maintaining a margin of 10.7%.

• PAT margin increased to 4.76% from 4.56% year-over-year.

• EPS (diluted) for Q1 FY26 was INR 4.17, up from INR 3.45 in Q1 FY25.

• Finance costs increased to INR 44 crore due to higher borrowings for CAPEX and working capital.

Outlook and guidance

• The company expects continued growth, supported by new capacity ramp-ups, strong export demand, and a robust domestic market.

• Ongoing expansion projects, including new alloy wheel and lighting plants, are expected to drive growth in FY26.

• Anticipates ramp-up in camera module production and OEM sales for EVSE in the next 3-4 months.

• Margin expansion is anticipated in the medium term as new projects stabilize and operating leverage improves.