Brokerage Initiates Buy on Uno Minda With Rs 815 Target Price

Q2 FY27 Revenue reported at Rs 2,189 Cr, a 43% increase year-on-year.
New order wins exceed Rs 1,000 Cr in lifetime value for TFT instrument clusters.

Reader Takeaway: Strong order pipeline and premium product expansion drive the Buy rating, though elevated input costs remain a pressure point.

What just happened

A major brokerage has initiated coverage on Uno Minda with a 'Buy' rating, projecting a target price of Rs 815. The stock was trading at Rs 685 as of November 3, 2026. The report follows the company's robust Q2 FY27 results, where it posted a net profit of Rs 143 Cr, up 69% year-on-year, and revenue growth of 43%.

Why this matters

The company is successfully executing its 'Vision 2030' strategy. Key catalysts include the commercialization of panoramic sunroofs and the recent securing of major TFT instrument cluster orders. Notably, EV products accounted for 35% of these new order wins, signaling successful diversification into higher-growth segments.

Capacity Expansion

To support rising demand, the company has received approval to set up a greenfield TFT display module facility in Chakan. The project will involve a phased investment of Rs 200 Cr and is expected to reach operational status within 18 months, localizing 70-80% of current TFT component requirements.

Risks to watch

While the growth outlook remains positive, investors should monitor the performance of associate company Flash Electronics. Profitability there has been pressured by rising commodity costs, minimum wage revisions, and higher freight expenses. Although management expects these to be mitigated through pass-through agreements, sustained inflationary pressures could impact margins in the short term.