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Informist, Tuesday, Aug. 5, 2025

By Janwee Prajapati

MUMBAI – Uno Minda Ltd. is expected to report a marginal on-year growth in its consolidated revenue and net profit for the June quarter, according to brokerages tracking the company. This growth is expected to be driven by an increase in vehicle production and new orders received across multiple vehicle segments.

The auto parts manufacturer is expected to report a consolidated net profit of INR 2.33 billion, up 17% on year, in Apr-Jun, according to the average of estimates from four brokerages. The company's net profit, however, is expected to fall 12.5% on quarter. The highest net profit estimate of INR 2.44 billion is from Nuvama Wealth Management Ltd. while the lowest estimate of INR 2.16 billion is from Kotak Institutional Equities.

The company is expected to report consolidated net sales of INR 43.87 billion, up almost 15% on year but down 3% sequentially. The highest net sales estimate of INR 44.25 billion is from Nomura Equity Research while the lowest estimate of INR 43.51 billion is from Anand Rathi Share and Stock Brokers Ltd.

The increase in revenue is expected to be driven by strong growth in several segments, including seating, switches, casting, lighting, and other sensors and electric vehicle parts. Switches and lighting segments normally account for almost 50% of the company's total revenue. In the previous quarter, the switches segment accounted for 25% of the company's total revenue, and the lighting segment accounted for 22%.

"We expect overall revenues to increase 16% y-y (year-on-year) as production for PV (passenger vehicle) and 2W (two-wheeler) is ~2% (around 2%) flat y-y and other businesses like LMT (light motor transport), EV (electric vehicle) will continue to scale up," Nomura said.

The company's performance is expected to improve due to an increase in production of two-wheelers and passenger vehicles. The ramp-up in new orders across multiple segments and an increase in the number of parts supplied per vehicle is expected to grow the top line, according to Kotak.

Nomura expects Uno Minda to report an earnings before interest, tax, depreciation, and amortisation of INR 4.75 billion for the reporting quarter while Nuvama expects EBITDA at INR 4.73 billion. The EBITDA margin is expected to expand marginally, according to the brokerages. "We expect EBITDA margin to improve by 10 bps yoy (year-on-year) to 10.8% in 1QFY26 (Apr-Jun) due to operating leverage benefit offset by high cost pertaining to new program ramp-ups," Kotak said. However, Nomura expects the EBITDA margin to contract almost 90 basis points sequentially to 10.7%.

The key metrics to monitor include order-book additions and the share of electric vehicles in total revenue, according to Nuvama.

On Tuesday, the company's shares closed at INR 1,103.10 on the National Stock Exchange, up 3.9%. The shares have risen 10.5% since the company announced its March quarter earnings.

Of the 11 brokerage recommendations on the stock available with Informist, nine have a 'buy' or equivalent recommendation on Uno Minda with an average target price of INR 1,115, one has a 'hold' recommendation and one has a 'sell' rating on the stock.

Following are the Apr-Jun consolidated earnings estimates for Uno Minda Ltd., based on reports from four brokerages in the descending order by the estimate of net profit:

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Edited by Tanima Banerjee

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