Uno Minda witnessed a remarkable start on the stock market, with shares soaring by 18% to achieve a fresh all-time high of Rs 1,016. This surge comes as the company announced a partnership with China’s lnovance Automotive aimed at enhancing its electric four-wheeler product range.
The management underscores the significance of this collaboration, stating that it will substantially expand Uno Minda’s e-4W product portfolio, positioning the company to effectively address the growing Indian EV market. Additionally, Uno Minda aims to elevate this partnership into a joint venture, pending necessary approvals.
The selected electric vehicle products include Charging Control Units (CCU), EV inverters, EV motors, and next-generation 3-in-1 electric drive systems (e-Axle). The management expresses its commitment to leading the electric vehicle transformation across all vehicle categories, drawing parallels to its success in the e-2W segment.
In the fiscal fourth quarter, Uno Minda witnessed a significant 59% year-on-year surge in net profit, reaching Rs 289.1 crore. Revenue from operations also experienced notable growth, increasing by 31.3% to Rs 3,794 crore, while EBITDA saw a robust growth of 48.5% during the quarter.
Uno Minda shares have rallied nearly 58% in the last three months, reflecting investor optimism surrounding the company’s strategic initiatives and financial performance.
