Uno Minda Limited's Board of Directors convened on March 30, 2026, approving strategic senior management restructuring and renewable energy investments totaling INR 750.20 lacs. The meeting, held from 12:00 noon to 01:45 P.M., addressed key organizational changes and sustainability initiatives in compliance with SEBI (LODR) Regulations, 2015.

Senior Management Restructuring

The Board approved significant role transitions for three senior executives, effective April 01, 2026. These changes reflect the company's strategic realignment and leadership development initiatives.

Leadership Profiles

Mr. Rakesh Kher brings over 40 years of diverse experience in strategy, business transformation, manufacturing, and project management. He holds a B.Tech. from REC Rourkela, M.Tech. from IIT Kharagpur, and MBA from FMS, Delhi. His association with Uno Minda began in 2004, where he has played a pivotal role in expanding the product portfolio and strengthening customer relationships.

Mr. Vishal Kaul is an accomplished business leader with over 25 years of experience across automotive aftermarket, consumer electronics, and industrial products. He holds a Post-Graduate Programme in Management from Indian School of Business, Hyderabad, and a Bachelor of Engineering (Mechanical) from V.J.T.I., University of Mumbai.

Mr. Vishnu Johri brings over 30 years of experience in operations, business development, and strategic management in automotive and manufacturing sectors. He holds a BE (Hons) in Mechanical Engineering from BITS, Pilani, and has held senior positions at Tata Motors, Maruti Udyog Ltd, Hero Motors, and LUMAX.

Renewable Energy Investment Initiative

The Board approved investments up to INR 750.20 lacs in Special Purpose Vehicles for sourcing renewable energy through wind and solar power. This initiative covers units located in Haryana and Tamil Nadu, demonstrating the company's commitment to sustainable operations.

SPV Performance Overview

The target SPVs are engaged in setting up, generating, and distributing renewable energy from power plants in India. For FY 2024-25, RC Green Powers Private Limited reported turnover of INR 565.25 lacs, while the other three SPVs reported nil turnover.

Strategic Impact and Implementation

The renewable energy investments will enable Open Access renewable power for the company and its subsidiaries' units in Haryana and Tamil Nadu, increasing their share of power consumption through sustainable sources. The acquisitions will provide up to 30% equity stakes in the respective SPVs based on proportionate capacity allocation.

The investment will be completed through cash consideration in one or more tranches, with an indicative completion timeline of Q2 2026-27. These transactions do not fall within related party transactions, and no governmental or regulatory approvals are required for the acquisitions.

These strategic decisions underscore Uno Minda Limited's focus on leadership development and environmental sustainability, positioning the company for enhanced operational efficiency and reduced carbon footprint across its manufacturing operations.

Uno minda Limited has disclosed that its subsidiary Minda Westport Technologies Limited (MWTL) has received a customs order involving significant financial demands related to the classification of imported components used in CNG system manufacturing.

Customs Order Details

The Principal Commissioner of Customs (ICD Patparganj), New Delhi, issued an order regarding alleged CTH/HSN misclassification of imported components used in manufacturing parts for vehicle CNG systems. The order was received by MWTL on March 27, 2026 around 04:35 P.M. (IST).

Company Response and Impact Assessment

MWTL has expressed disagreement with the findings of the customs order and plans to file an appeal against the decision. The company maintains that the classification issues raised by the customs authority are not justified.

Financial and Operational Impact

Despite the substantial amount involved in the customs demand, Uno Minda Limited has stated that it does not foresee any material impact on its financial, operational, or other activities. This assessment suggests the company believes it has strong grounds for its appeal and expects a favorable outcome.

Regulatory Compliance

The disclosure was made under Sub-Para 20 of Para A of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The communication was signed by Tarun Kumar Srivastava, Company Secretary & Compliance Officer, and submitted to both NSE and BSE exchanges.

Background Context

The customs order specifically relates to components imported for manufacturing parts used in vehicle CNG systems, indicating the issue affects MWTL's core business operations in the clean energy automotive sector. The misclassification allegation suggests differences in opinion between the company and customs authorities regarding the appropriate tariff classification of these imported components.