EBITDA for Q3 FY23 stood at Rs 338 crore vis-à-vis Rs 235 crore in Q3 FY22, a growth of 44% Y-o-Y. EBITDA margin stood at 11.6% in Q3 FY23, up 29 bps Q-o-Q and up 66 bps Y-o-Y.

Profit before tax for Q3 FY23 was at Rs 215 crore as against Rs 141 crore in Q3 FY22, up 52% Y-o-Y.

The board approved an interim dividend of Rs 0.50 per share.

Further, the board has in principally approved acquiring remaining stake i.e. 22.64% currently held by joint venture partner Kosei to make Minda Kosei Aluminum, a wholly owned subsidiary. The purchase consideration for 22.64% stake for Rs 115.50 crores. Post-acquisition, while joint venture for MKA will be terminated, the company will enter into Technology Licensing Agreement (TLA) with Kosei to ensure continuity of technology support. The transaction is targeted to be completed on or before 31 March 2023.

Nirmal K Minda, CMD, Uno Minda Group said: "the Automotive industry experienced a healthy revival in FY23, aided by economic activity, increased mobility and improved discretionary spending. Uno Minda is well placed to capitalize on the developments proposed in the recent budget with it's focus on localization delivering best-in-class products to both existing and potential customers. Our ability to deliver new and premium products is fuelled with continuous R&D, aiding in increasing our share of business with the OEM's across variants."

Sunil Bohra, CFO, Uno Minda Group said, "Our consolidated revenues for Q3FY23 stood at Rs.2,915 Crs, a growth of 34% on Y-o-Y basis backed by diversified product portfolio, increasing content per vehicle and cross selling of our products among customers. On the back of technological upgradation and new launches in pipeline by various OEM's, we are all geared up to capitalize on the long-standing relationship with customers. Application of 4W alloy wheel is increasing gradually to bridge the penetration gap in comparison to developed countries provides ample growth opportunities in coming years. Our proposed additional investment in Minda Kosei will help us to further capitalize on this growing opportunity hence will be value accretive to shareholders."

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.