Uno Minda Limited has reported financial results for the fourth quarter and full year ending March 31, 2024 with significant growth across its revenue and profit metrics. For Q4 FY24, Uno Minda reported consolidated revenue of INR 3,794 crore, a 31% increase compared to INR 2,889 crore in Q4 FY23.
This strong revenue growth is attributed to the company's diversified product portfolio, including lighting, switches, and alloy wheels, as well as advancements in EV technology, controllers, and sensors. The EBITDA for the quarter stood at INR 474 crore, reflecting a 48% year-over-year increase from INR 319 crore in Q4 FY23. The profit before tax (PBT) rose by 44% to INR 302 crore from INR 209 crore in the same quarter last year. The company’s share of profit after tax (PAT), excluding exceptional income, was INR 269 crore, a substantial 47% increase from INR 183 crore in Q4 FY23.
For the full fiscal year FY24, Uno Minda achieved consolidated revenue of INR 14,031 crore, marking a 25% year-over-year growth from INR 11,236 crore in FY23. The EBITDA for the year was INR 1,585 crore, up 28% from INR 1,242 crore in the previous year. The PAT, excluding exceptional income, for FY24 was INR 860 crore, a 32% increase from INR 654 crore in FY23.
The company's board has recommended a final dividend of INR 1.35 per share, a 35% increase from the previous year, bringing the total dividend for FY24 to INR 2.00 per share. This decision reflects the company's commitment to consistently returning value to its shareholders.
The two-wheeler alloy plant expansion will increase the plant's capacity by 2 million wheels, expected to be commissioned by Q1 FY26, bringing the total annual production capacity to 7.5 to 8 million wheels.
Nirmal K Minda, Chairman and Managing Director of Uno Minda Group highlighted the robust growth in the automotive industry, driven by a preference for vehicles with enhanced safety, comfort, and cleaner mobility features.
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