Investors’ interest in the counter can be attributed to the fact that the company’s revenue exposure to overseas markets is limited to just over 10% and the US doesn’t figure in its top five export destinations. Also, it has manufacturing facilities in Indonesia, Vietnam, Germany, Spain and Mexico. This shields the company from higher US tariffs.
The company’s strong performance on bourses comes at a time when it has undertaken change in key management personnel. On Wednesday, it announced the appointment of Sanjeev Kulkarni as the new CEO and Garima Garg as the new HR head.
On the operations front, Uno Minda has guided for a capital expenditure (capex) of ₹1,600-₹1,700 crore for FY26. Of this, three-fourths will be growth capex while the remaining will be used towards existing operations. The company has acquired land in Chhatrapati Sambhajinagar for ₹130 crore. It has also announced a capex of ₹210 crore for electric vehicle (EV) four-wheel casting components. This will be a backward integration for the upcoming EV plant at the same location.
On a year-on-year basis, Uno Minda’s revenue from operations and net profit grew by 18% and 46% to ₹4,489 crore and ₹291 crore, respectively in the June 2025 quarter driven by strong double-digit growth in switches, lighting, seating, and other divisions. Operating margin before depreciation and amortisation (Ebitda margin) improved by 142 basis points to 12.1%, mainly due to accounting for prior period state incentives, gross margin expansion and lower other expenses and partially offset by higher employee costs. In February, the company took complete control of UnoMinda EV Systems by acquiring 49.9% from the join venture partner FRIWO AG. This would provide access to intellectual property rights and research and development in e-drive technologies.
Emkay Global Financial Services has raised FY26-27 earnings per share (EPS) by about 2% to factor in sustained margin improvement. “North America exports are less than 2% of total revenue; tariff hit (will be) negligible,” it added. Asit C Mehta has increased the EPS estimate by over 4% for FY26 and FY27. The broking firm expects revenue, Ebitda and net profit to grow 14-18% over FY25-28.
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