Uno Minda Limited has announced its audited financial results for the quarter and year ended March 31, 2026, alongside a detailed investor presentation. The company reported a normalised consolidated net profit of Rs 1,166 crore for FY26, a growth of 24% compared to Rs 943 crore in the previous year. Normalised revenue from operations for the year rose 17% to Rs 19,589 crore from Rs 16,775 crore in FY25. Group revenues, including JVs and associates, increased 17% year-on-year to Rs 25,203 crore for the year. For the fourth quarter, consolidated net profit stood at Rs 326 crore, up 22% from Rs 266 crore in the same period last year, while revenue increased 18% to Rs 5,336 crore. The audio recording of the earnings call held on May 18, 2026, discussing these results with investors, has been uploaded on the company's website at https://www.unominda.com/investor/analyst-call-audio .

Industry and Operating Environment

The Q4 FY26 operating environment was shaped by several key industry dynamics. The two-wheeler segment posted impressive 21% year-on-year growth in Q4 FY26, while passenger vehicles recorded 11% year-on-year growth, with both segments setting new peak annual production volumes. Electric vehicle penetration continued to rise, with e-2W registrations crossing 1.4 million in FY26 at a penetration rate of 6.5%, e-PV registrations reaching 2.0 lakh at 4.2% penetration, and e-3W registrations at 0.8 million with penetration crossing 60%. On the cost side, aluminium prices hit new highs in Q4 FY26, plastic parts and resin prices also increased, and the USD/INR exchange rate crossed 95.50, making raw material imports costlier. Revision in CAFÉ norms effective April 1, 2027, with a manageable five-year glide path, is expected to promote electric vehicles, facilitate LED transition, and encourage lightweighting.

Q4 Consolidated Performance

The company's Q4 consolidated EBITDA stood at Rs 603 crore, reflecting a growth of 14% from Rs 527 crore in Q4 FY25. The EBITDA margin for the quarter was 11.3%. Group revenues including JVs and associates for Q4 stood at Rs 6,829 crore, higher by 15% year-on-year. The following table summarises the key Q4 consolidated metrics:

Full Year Financial Highlights

For the full year FY26, normalised EBITDA grew 16% year-on-year to Rs 2,182 crore, with an EBITDA margin of 11.1%. The Board of Directors has recommended a final dividend of Rs 1.75 per share (87.5%) for the financial year ended March 31, 2026. Including the interim dividend of Rs 0.90 per share already paid, the total dividend for the year aggregates to Rs 2.65 per share. The record date for determining eligibility is Friday, May 29, 2026. The table below presents the full-year consolidated financial comparison:

Five-Year Financial Summary

The investor presentation also provides a five-year consolidated financial summary, highlighting consistent revenue and profitability growth. The table below captures the key metrics:

*Adjusted for prior period income and exceptional expenses relating to Labour Code

Segment-Wise Performance

The investor presentation provides a detailed breakdown of division-wise revenue performance across key product segments for Q4 FY26. The Switches segment reported revenue of Rs 1,343 crore in Q4 FY26, driven by sustained domestic volume growth, increased share of business with underpenetrated customers, and robust growth in 2W exports. The Lighting segment recorded revenue of Rs 1,154 crore, supported by 2W EV growth as the company is a key supplier to multiple electric two-wheeler OEMs. The Castings segment posted revenue of Rs 982 crore, with ramp-up in recently commissioned capacity expansion in both alloy wheel 4W and 2W segments, though near-term moderation in alloy wheel penetration was noted. The following table summarises segment-wise quarterly revenue trends:

The Green Mobility segment, which includes EV Systems, alternate fuel, and EV powertrain businesses, grew to Rs 423 crore in Q4 FY26 from Rs 338 crore in Q4 FY25, driven by increasing CNG penetration and healthy growth in the e-3W charger business. EDU supplies have commenced. The Seating segment reached Rs 381 crore in Q4 FY26, with growth driven by diversification of 2W customers, increased share of business from key customers, supply of suspended seats in the domestic market, and export momentum. New export orders with an annual peak value of approximately Rs 390 crore were secured from three new customers.

Operational Highlights and New Orders

The company announced a second plant for PV EV powertrain in Chhatrapati Sambhajinagar (CSN), Maharashtra, with a project cost of Rs 550 crore and a targeted Start of Production in Q2 FY28. This facility will manufacture Electric Drive Units (EDU) and Dedicated Hybrid Transmission (DHT) systems, and represents the second EV powertrain plant in quick succession following the ongoing setup of its facility in Khed City. Additionally, the company secured a sizeable order for an Android-based Infotainment (IVI) platform with an annual peak value of approximately Rs 600 crore, SOP in Q3 FY29, developed by its in-house R&D centre CREAT, representing approximately 70% of current annual revenues from the business. A large order for 2W Lamps was also secured, valued at approximately Rs 450 crore annually, with SOP in H2 FY28, representing 25% of current annual revenues from the 2W Light segment. The following table summarises key new order wins:

Standalone Financial Results

On a standalone basis, Uno Minda reported net profit of Rs 971.69 crore for FY26, compared to Rs 796.26 crore in FY25. Standalone revenue from operations for the year stood at Rs 14,699.65 crore against Rs 12,455.66 crore in the previous year. For Q4, standalone net profit was Rs 203.09 crore and revenue from operations was Rs 3,930.97 crore. The table below presents key standalone financial metrics:

On a consolidated basis, the full-year net profit after tax stood at Rs 1,284.06 crore against Rs 1,020.57 crore in FY25. Consolidated basic EPS for FY26 was Rs 20.78 and diluted EPS was Rs 20.75, compared to Rs 16.42 and Rs 16.37 respectively in FY25. Consolidated net worth stood at Rs 6,829.57 crore as at March 31, 2026, versus Rs 5,727.20 crore in the prior year. The consolidated debt-equity ratio improved to 0.40 from 0.43, while the interest service coverage ratio stood at 11.60 times versus 10.58 times in FY25.

Board Approvals and Strategic Initiatives

The Board approved several key strategic measures at its meeting held on May 16, 2026. It approved a Detailed Project Report for the expansion and manufacturing of High Voltage Category of 4W EV Powertrain Products (DHT and EDU) with a total project cost of approximately Rs 550 crore, to be carried out through its wholly owned subsidiary Uno Minda Auto Innovations Private Limited (UMAIPL). The Board also approved further investment of approximately Rs 310 crore in the equity capital of UMAIPL, to be invested over the next two years. The proposed capacity addition under this project is 1.85 lakh units per year, with Start of Production targeted at Q2 FY2028. The following table summarises the key project parameters:

Additionally, the Board approved further investment of up to Rs 20 crore in the equity share capital of UnoMinda EV Systems Pvt. Ltd. (UMEVS), a wholly owned subsidiary, in one or more tranches. The Board also approved seeking shareholder authorisation to raise funds of up to Rs 2,500 crore through various instruments including FCCBs, NCDs, QIP, and other permissible securities in domestic and/or overseas markets, in one or more tranches, during a period of one year from the date of passing of the Special Resolution.

Acquisition Update and Auditor Re-Appointments

The Board approved a change in the consideration amount for the acquisition of the remaining 19% equity shares of Minda Onkyo India Private Limited (MOIPL). Uno Minda currently holds 80% equity stake in MOIPL. The revised consideration for the remaining 19% stake is Rs 0.68 per share, compared to the earlier approved Rs 0.65 per share, reflecting a change in fair market value. Post acquisition of the remaining 19% stake, the company will hold 99% shareholding in MOIPL.

On the governance front, the Board re-appointed M/s Protiviti India Member Private Limited as Internal Auditors for FY2026-27, and M/s Jitender Navneet & Co. as Cost Auditors for FY2026-27. The Board also recommended to shareholders the re-appointment of M/s S.R. Batliboi & Co. LLP as Statutory Auditors for a second term of five consecutive years, from the conclusion of the 34th Annual General Meeting till the conclusion of the 39th Annual General Meeting, subject to shareholder approval.

Management Commentary

Mr. Ravi Mehra, Managing Director, stated that the performance validates the company's scale and strategic foresight, noting that FY27 will be a critical milestone year for execution and investment, with seven of eleven current project lines slated for commercial production or ramp-up. Sunil Bohra, CFO, highlighted the robust top-line growth and operational discipline that protected core profitability amidst cost pressures.

Uno Minda 's Co-Managing Director has characterized FY27 as a pivotal year for the company, underscoring a strategic phase defined by major project launches, capacity expansion, and a clear financial roadmap. The company has set an 11% margin guidance for FY27 and announced a total investment of ₹1,750 crore, of which ₹1,100 crore has been earmarked specifically for growth projects. The leadership's outlook reflects a deliberate effort to align the company's growth trajectory with evolving trends in the automotive components industry.

Investment and Margin Targets

Uno Minda's concall update revealed concrete financial commitments underpinning its FY27 strategy. The company's planned capital deployment reflects its intent to scale operations while maintaining profitability discipline.

Strategic Priorities for FY27

According to the Co-MD, Uno Minda is positioning itself to capitalize on several transformative trends shaping the automotive sector. The company's strategy is centered on the following key pillars:

• Localization: Deepening domestic manufacturing capabilities to reduce import dependence and improve cost competitiveness
• Premiumization: Catering to rising consumer demand for higher-specification vehicle features and components
• Safety: Expanding its portfolio of safety-related automotive systems in line with regulatory and market requirements
• Electrification: Strengthening its presence in the electric vehicle components space as the industry transitions toward cleaner mobility

Increasing Vehicle Content Value

A central objective highlighted by the Co-MD is the drive to increase vehicle content value — a metric that reflects the value of components supplied per vehicle. By broadening its product offerings across premiumization, safety, and electrification segments, Uno Minda aims to deepen its engagement with original equipment manufacturers and enhance revenue per vehicle.

Manufacturing Leadership

The Co-MD's commentary also emphasized Uno Minda's intent to strengthen its manufacturing leadership. The combination of capacity expansion and new project launches is expected to reinforce the company's competitive positioning within India's automotive components ecosystem. The focus on localization further supports this objective by building resilient, India-centric supply chains. Overall, the company's articulated strategy for FY27 reflects a broad-based approach to growth, anchored in industry megatrends and supported by a well-defined investment and operational scale-up plan.