Minda Kosei Aluminum Wheel, one of the key subsidiary of Uno Minda, will be expanding its 4W Alloy wheel capacity by 60,000 wheels per month to 240,000 wheel per month at its plant in Bawal, Haryana.

The additional capital expenditure for the aforesaid capacity expansion will be Rs 190 crore. The expansion is expected to be commissioned in two phase with first phase of 30,000 wheel per month in December 2023 and remaining in June 2024.

The expansion will cater to increased demand fuelled by increasing application factor. Alloy wheels have also emerged as one of the most sought after accessory for 4W buyers in India.

Mindarika (MRPL), another key subsidiary of Uno Minda, is setting up a new manufacturing plant at Farrukhnagar (Gurugram, Haryana) to cater to increased demand of 4W Automotive switches from Indian and International customers. The project cost for setting up Phase 1 of the manufacturing plant at Farrrukhnagar will be approximately Rs 110 crore, which will be completed by September 2023.

The phase 1 of the plant will manufacture part products to be used for manufacturing of auto components. The new plant will be strategically located 15 km from the existing Manesar plant deriving significant operational synergies. This location will also have sufficient land availability for any future expansion.

Dubai footprint will entail setting up of a wholly owned subsidiary and an office in Mainland Dubai in order to enhance the company's market reach in African & Middle East markets with focus on aftermarket segment. UAE being auto hub for MEA and CIS with high customer inflow will facilitate aftermarket business development in the region.

Uno Minda (formerly Minda Industries) is a leading global supplier of proprietary automotive solutions and systems to OEMs as Tier-1. It is one of the leading manufacturers of automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems and alloy wheels in India.

The company's consolidated net profit surged to Rs 138.79 crore in the quarter ended June 2022 as against Rs 15.42 crore during the previous quarter ended June 2021. Sales rose 59.45% to Rs 2555.19 crore in Q1 FY23 over Q1 FY22.