The board of Uno Minda has approved the setting up of a new 4W lighting plant with a total capital expenditure of INR 400 crore to be spent over the next five years in a phased manner.
The outlay in Phase 1 will be INR 230 crore during the next two years and is intended to be commissioned by Q4 FY '24. The company is evaluating various locations to set up the plant and is expected to finalise it within a quarter, said Nirmal K Minda, CMD, Uno Minda.
“We have been taking measured efforts to increase our share of business with OEMs, consistently increase kit value and offer new and advanced technologies. Our efforts have been reaping benefits with consistent outperformance and leadership across all our products,“ he added.
Uno Minda's new plant announcement has come on the back of the group registering the highest-ever quarterly performance with revenue of INR 2,877 crore in the second quarter against INR 2,114 crore. EBITDA was INR 318 Crore vis-à-vis INR 228 crore in Q2 FY '22, a growth of 40% Y-o-Y. Profit before tax was INR 208 Crore, up from INR 134 Crore in Q2 FY '22.
Sunil Bohra, CFO, Uno Minda Group added, “Through continuous investment in both our manufacturing capacities and R&D activities, we have been making significant in-roads with OEMs, thereby increasing our revenues and profitability. We have also improved our margin profile supported by operating leverage.'
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