Uno Minda delivered a strong Q2FY27 with revenue rising 38.3% to Rs 6,655 crore and net profit climbing 33.5% to Rs 431 crore. Growth was broad-based, led by a 102% surge in Green Mobility revenue. Axis Securities has upgraded the target price to Rs 1,525, highlighting the firm's robust order pipeline and ongoing capacity expansion as key growth drivers.
Uno Minda Q2 Profit Jumps 33% With Strong Revenue Growth
Consolidated revenue stood at Rs 6,655 crore, marking a 38.3% year-on-year increase.
Adjusted PAT reached Rs 431 crore, surpassing broker estimates by 12.9%.
Reader Takeaway: Robust growth across all business segments and EV expansion are driving performance despite potential commodity cost fluctuations.
What just happened
Uno Minda reported strong financial results for the quarter ending September 2026. The company achieved a consolidated revenue of Rs 6,655 crore, a significant jump from the previous year. Net profit also grew by 33.5% to Rs 431 crore, comfortably beating market expectations. The Green Mobility segment was a standout, recording a 102% year-on-year revenue increase.
Why this matters
The results demonstrate the company's ability to maintain margin resilience through operating leverage. With an EBITDA margin of 11%, Uno Minda is successfully navigating higher input costs. The company's diverse portfolio—ranging from switches and lighting to casting and green mobility—provides a balanced revenue stream, reducing reliance on any single vertical.
Strategic Developments
Expansion remains a priority with a massive Capex pipeline of up to Rs 5,300 crore. Key projects include a new Rs 85 crore investment in sunroof capacity and significant scaling of alloy wheel production. The company aims to reach a 4W alloy wheel capacity of 9 million units, up from the current 6.3 million.
Risks to watch
Investors should closely track the commissioning timelines for the new manufacturing facilities. Additionally, fluctuations in aluminium prices and other raw materials remain a critical factor that could influence EBITDA margins in the coming quarters.
What to track next
Watch for updates on the Bawal sunroof capacity commissioning by the end of FY27 and any new order wins in the EV space. Management's ability to maintain the targeted 11% EBITDA margin will be a key performance indicator.