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The plant will manufacture mechanical parts for automotive seats for passenger cars. UMTS has already received orders from original equipment manufacturer (OEM) and is expected to start supplies by Q4 FY24.
UNO Minda is engaged in the business of manufacturing of auto components including lighting, alloywheels, horns, seating systems, seatbelts, switches, sensors, controllers, handle bar assemblies, wheel covers etc. The company caters to both 2 wheelers and 4 wheelers markets and domestic & international markets.
The company’s consolidated net profit jumped 32.3% to Rs 224.99 crore on 25.9% increase in net sales to Rs 3,621.30 crore in Q2 FY24 over Q2 FY23.
The scrip rose 0.93% to Rs 665.80 on the BSE.
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