Share price of this mid-cap EV stock moved up by 3.07 percent on BSE to Rs. 748 in the morning trading session of Friday, compared to its previous closing price of Rs. 725.7, after announcing expansion plans for its Rs. 542 crore alloy wheel plant with a capacity of 1.2 lakh wheels per month.
With a market cap of Rs. 42,654.3 crore, at 10:45 a.m., the shares of UNO Minda Limited were trading in the green at Rs. 742.8, up by 2.17 percent.
In the last six months, the company has delivered positive returns of about 23.9 percent and nearly 46.6 percent in the last one year. So far in 2024, it has given positive returns of around 8.7 percent.
According to the latest regulatory filings with the stock exchanges, UNO Minda Limited secured a large land parcel in IMT Kharkhoda, Haryana, and initiated a ceremony for its upcoming greenfield alloy wheel plant.
The company’s greenfield passenger vehicle alloy wheel plant will have a monthly capacity of 1.2 lakh wheels. The plant with a capital outlay of Rs. 542 crore will be built in a phased manner over the next 5 years, with phase one commissioning in Q2 FY26.
Uno Minda had recently secured an allotment of a strategic land parcel of 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, to support its current and future expansions. A part of this land, around 25 acres, has been allocated for this greenfield Alloy wheel plant.
Uno Minda acquired 86 acres of land at Khed City Industrial Park in Pune last year, followed by a recent acquisition of 37 acres in Hosur, Tamil Nadu, and 94.32 acres at IMT Kharkhoda, Haryana. The company is also in the talks of acquiring a land parcel in Gujarat.
In terms of financials, the company’s revenue from operations increased by 20.8 percent YoY from Rs. 2,915 crore in Q3 FY22-23 to Rs. 3,523 crore in Q3 FY23-24.
The net profit of the company also increased by 17.8 percent to Rs. 205 crore in Q3 FY23-24 from Rs. 174 crore in Q3 FY22-23.
As of December 2023, FIIs hold 7.94 percent of the shares, whereas DIIs hold 16.91 percent of the shares in the company, aggregating to 24.81 percent of the institutional holdings.
Incepted in 1958, Uno Minda Limited, formerly known as Minda Industries Limited, is a leading global manufacturer and supplier of proprietary automotive solutions and systems to original equipment manufacturers (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.
Written by Shivani Singh
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