Uno Minda (532539) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 consolidated revenue rose 38% YoY to ₹6,655.42 crore; EBITDA increased 33% to ₹733 crore and PAT attributable to owners, excluding exceptional items, rose 38% to ₹420 crore.

• Consolidated net profit was ₹440.81 crore; revenue including JVs and associates increased 32% YoY to ₹8,186 crore.

• Growth was supported by value-added products, higher volumes, capacity additions and scaling EV and alternate-fuel businesses.

Financial highlights

• Q2 revenue from operations was ₹6,655.42 crore versus ₹4,814.03 crore; H1 revenue was ₹12,212.27 crore, up 32% YoY.

• Q2 EBITDA was ₹733 crore, up 33% YoY; H1 EBITDA was ₹1,305 crore, up 27%.

• Q2 PAT attributable to owners was ₹420 crore, up 38%; H1 was ₹716 crore, up 32%.

• Consolidated Q2 net profit was ₹440.81 crore versus ₹322.79 crore; H1 net profit was ₹756.32 crore versus ₹631.82 crore.

• Q2 diluted EPS was ₹7.25, up 38% YoY; H1 diluted EPS was ₹12.39, up 31%.

Outlook and guidance

• FY27 EBITDA margin guidance remains 11% ±50 bps; commodity-cost changes are intended to be passed through to customers.

• Indian automotive growth momentum is expected to continue in H2 FY27, supported by festive and wedding demand and new launches.

• Margin improvement is expected from operating leverage and higher gross contribution as new-business prices reset against higher input-cost bases.

• Inovance’s Khed City plant is expected to be commissioned by fiscal year-end; three EV charger programs are expected to support growth in coming quarters.

• New projects target pre-tax ROCE of 18%-20% in their third full year of production; blended project EBITDA is expected within the current profitability range.