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Informist, Friday, Nov. 7, 2025

By Adhithya Aji

MUMBAI - Uno Minda Ltd. is expected to report double-digit on-year growth in its consolidated net profit and revenue for the September quarter, according to brokerages tracking the company. The auto component company's growth in the reporting quarter is expected to be driven by an increase in automobile production volumes, new order wins, and higher demand for product segments, analysts said.

The company is expected to report a consolidated net profit of INR 2.81 billion for the September quarter, up nearly 19% on year but down over 3% sequentially, according to the average of estimates from six brokerages. The highest estimate for Uno Mindia's bottom line is INR 3.50 billion by Anand Rathi Share and Stock Brokers Ltd. and the lowest is INR 2.20 billion by Axis Securities Ltd.

The company's net sales for the reporting quarter are expected to be INR 47.95 billion, up nearly 13% on year and nearly 7% sequentially, according to the average of six estimates. The estimates for Uno Minda's top line range from INR 50.26 billion by Anand Rathi Share and Stock Brokers to INR 43.62 billion by Axis Securities Ltd.

The year-on-year growth in Uno Minda's revenue is expected to be driven by higher production volumes of two-wheelers and passenger vehicles. The auto parts maker's revenue will likely increase 18% on year, led by high single-digit on-year growth in two-wheeler production volumes and ramp-up of new order wins across multiple segments, Kotak Securities Ltd. said.

The company's on-year revenue growth is likely be supported by strong demand in seating, switches, casting, lighting, and other segments, according to Nuvama Wealth Management Ltd. In the June quarter, the company's switches segment earned revenue of INR 11.11 billion, which is 25% of the company's top line. The lighting segment earned revenue of INR 10.13 billion, which contributed 23% to the company's top line.

The company's earnings before interest, tax, depreciation, and amortisation for the reporting quarter is estimated at INR 5.33 billion, according to the average of five estimates. The highest estimate for Uno Minda's EBITDA is INR 5.80 billion from Emkay Global Financial Services Ltd. and the lowest estimate is INR 4.73 billion from Axis Securities Ltd.  

Brokerages estimate the Haryana-based company's EBITDA margin to contract on year. Higher fixed costs related to the company's new plants is expected to weigh on the metric, according to Nuvama. In the June quarter, the company had approved capital expenditure of INR 2.10 billion for setting up casting products related to electric vehicles and a plant in Chhatrapati Sambhajinagar, Maharashtra.   

"We expect EBITDA margin to decline by 36 bps (basis points) YoY (year-on-year) on higher 2W (two-wheeler)  production volumes, operating leverage, and cost control initiatives, being partly offset by ramp-up costs," Axis Securities said.

The company will detail its September quarter earnings Friday. Order book additions and the share of electric vehicle business in its revenue are the key variables to monitor, Nuvama said.

Of the 12 brokerage reports available on the company with Informist, nine have a 'buy' rating and two have a 'sell' rating. The average target price for 'buy' calls is INR 1,156.

At 1226 IST, shares of the company were down nearly 1% at INR 1,243.90 on the National Stock Exchange. The stock is nearly 14% higher since the announcement of the company's June quarter earnings on Aug. 6.

Following are the Jul-Sept earnings estimates for Uno Minda from six brokerages in descending order of the estimate of net profit in INR million:

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