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Informist, Friday, May 15, 2026

By Prateem Rohanekar

MUMBAI – Uno Minda Ltd. is expected to report a sharp rise in its net profit and total sales for the March quarter. Brokerages are confident about Uno Minda's sales volume rising due to rise in production of two-wheeler and passenger vehicles during the quarter.

The company's consolidated net profit for the March quarter is expected at INR 3.17 billion, up nearly 19% on year, the average of estimates from seven brokerages showed. The company's net sales for the reporting quarter are expected at INR 53.71 billion, up around 19% on year.

Elara Securities (India) Pvt. Ltd. has the highest estimate for the company's net profit at INR 3.5 billion and Equirus Securities Pvt. Ltd. has the lowest at INR 2.67 billion. Elara Securities also has the highest estimate for the company's net sales at INR 54.80 billion and Equirus has the lowest at INR 52.28 billion.

Uno Minda is one of the companies to outperform its peers on increasing products, expansion in segments, expansion in geographies, and inorganic expansion, as per Elara Securities.

Equirus' low estimates come despite the brokerage expressing confidence in the company's production volume. The brokerage expects the company's revenue to grow 15% on year supported by healthy production volume growth in the two-wheeler and passenger vehicle segments during the quarter.

Kotak Securities Ltd. expects Uno Minda's consolidated revenues to increase 20% on year led by an increase in two-wheeler and passenger vehicles production volumes and the ramp-up of new order wins across multiple segments. Nomura also expects the company's overall revenues to increase 18% on year driven by higher passenger vehicle and two-wheeler production.

Uno Minda's earnings before interest, tax, depreciation, and amortisation are estimated at INR 6.08 billion, the average of estimates by brokerages showed. This represents an over 15% on-year rise and around 10% sequential rise in the company's EBITDA. Elara Securities has the highest estimate for the company's EBITDA at INR 6.40 billion and Equirus has the lowest estimate at INR 5.76 billion.

Uno Minda's management commentary on the company's capacity ramp up and domestic industry growth is important for investors to watch out for, as per Equirus. Is it important for investors to watch for the commentary?

The company is scheduled to announce its earnings for the March quarter on Saturday.

Friday, shares of Uno Minda closed at INR 1,121.80 on the National Stock Exchange, slightly lower. The stock has depreciated nearly 9% since the company reported its December quarter earnings on Feb. 5.

Of the six brokerage reports on the company available with Informist, all brokerages have a 'buy' or equivalent recommendation on the stock with an average target price of INR 1,426. This is nearly 27% higher than the current market price.

Following are the March quarter earnings estimates for Uno Minda from seven brokerages in descending order of the estimate of net profit in INR billion:

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Edited by Akul Nishant Akhoury

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