Profit before tax for Q4 FY23 was at Rs 209 crore as against Rs 175 crore in Q4 FY22, up 20% YoY.

On full year basis, the company's consolidated net profit surged 83.7% to Rs 653.55 crore on 35.2% increase in net sales to Rs 11,236.49 crore in FY23 over FY22.

The board recommended a dividend of Re 1 per equity share for the financial year 2022-23, subject to approval of the shareholders.

Nirmal K Minda, CMD, Uno Minda Group said, “Fiscal year 2023 has been a year of rebound and robust growth for the automotive sector. We have outperformed industry across all products categories with our diversified product portfolio. We at Uno Minda, always look to focus on greater customer satisfaction and high-quality products, this with comb/nation of increasing demand for premium variants keep us well placed to capitalize on this opportunity. With ongoing R&D, incremental capex and our strategic expansion, we are committed to increasing the wallet share from our existing customers and focus on adding new customers to our universe.”

Sunil Bohra, CFO, Uno Minda Group said, “Uno Minda's healthy growth is a result of efficient planned strategy to achieve a sustainable growth in the industry in combination with our diverse product portfolio and strong customer base. We continue to focus on providing localized products to the market and add new and technologically advanced products to our basket. We remain optimistic of outperforming the Industry in the years to come.”

Meanwhile, the board approved fund raising upto Rs 1,500 crore through issue of securities including foreign currency convertible bonds, other financial instruments/securities convertible into equity shares, any secured or unsecured bonds/non-convertible debentures (NCDs)/other permissible debt securities by way of a public or private placement including but not limited to qualified institutions placement (QIP) in one or more tranches.

Further, the board of directors approved to make further investment upto Euro 1.1 million in the equity shares of Global Mazinkert S.L, (overseas wholly owned subsidiary of the company) in order to support Global Mazinkert through long term capital. Global Mazinkert S.L, is engaged in the acoustic business.

Uno Minda (formerly Minda Industries) is one of the leading manufacturers of automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems and alloy wheels.

The scrip tumbled 4.91% to Rs 534.20 on the BSE.