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UNO Minda Appoints Vivek Shripad Joshi as CEO for LPS Domain
UNO Minda has appointed Mr. Vivek Shripad Joshi as the CEO of its Light Metal and Powertrain Systems (LPS) domain, effective April 19, 2026. Mr. Joshi brings over 28 years of global automotive manufacturing experience from firms like Sundaram Clayton and Endurance Technologies. A structured three-month transition period has been established where the current CEO, Mr. Kundan Kumar Jha, will assist in the handover before moving into a strategic role. This leadership change is aimed at driving profitable growth and lean manufacturing within a critical business segment.
Key Highlights
Mr. Vivek Shripad Joshi appointed as CEO-LPS Domain effective April 19, 2026
Mr. Joshi possesses over 28 years of experience in automotive manufacturing and business transformation
A 3-month collaborative transition period planned with outgoing CEO Mr. Kundan Kumar Jha
Mr. Joshi's previous experience includes leadership roles at Sundaram Clayton, Ryobi Die Casting (USA), and Endurance Technologies
The appointment focuses on strengthening the LPS domain's productivity and long-term stakeholder value
๐ผ Action for Investors
Investors should view this as a positive move to strengthen senior leadership with a highly experienced industry veteran. Monitor the LPS domain's performance over the next 2-3 quarters to assess the impact of this leadership transition.
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Uno Minda Announces Senior Management Reshuffle and โน7.5 Crore Renewable Energy Investment
Uno Minda Limited has announced a strategic reshuffle of its senior management, effective April 1, 2026, including the elevation of Mr. Vishal Kaul to CEO of the Aftermarket Domain. Simultaneously, the Board approved an investment of up to โน750.20 lacs to acquire up to 30% equity in four Special Purpose Vehicles (SPVs) for sourcing renewable energy. These investments are aimed at increasing the share of solar and wind power at the company's units in Haryana and Tamil Nadu. The renewable energy transition is expected to be completed by Q2 2026-27, reflecting the company's commitment to ESG goals and cost optimization.
Key Highlights
Mr. Vishal Kaul elevated to CEO - Aftermarket Domain, succeeding Mr. Rakesh Kher who moves to Chief Strategy Officer.
Mr. Vishnu Johri appointed as COO - 4W Lighting and ASEAN region to drive operational excellence.
Approved investment of โน750.20 lacs for up to 30% stake in four renewable energy SPVs (Hexa Energy and RC Green Powers).
The renewable energy projects target power sourcing for manufacturing units in Haryana and Tamil Nadu.
Management changes and investment tranches are scheduled to take effect from April 1, 2026.
๐ผ Action for Investors
Investors should view the management changes as a sign of planned leadership succession and internal talent development. The renewable energy investment, while small in financial terms, is a positive move toward long-term operational cost reduction and ESG compliance.
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Uno Minda to Invest โน7.50 Crore in 4 Renewable Energy SPVs; Reshuffles Senior Management
Uno Minda's board has approved an investment of up to โน750.20 lacs to acquire up to 30% equity in four renewable energy SPVs. This strategic move is aimed at sourcing wind and solar power for its manufacturing units in Haryana and Tamil Nadu to enhance ESG compliance and reduce energy costs. Simultaneously, the company announced a leadership reshuffle effective April 1, 2026, elevating Vishal Kaul to CEO of the Aftermarket Domain. These transitions and investments are expected to be completed by Q2 FY 2026-27.
Key Highlights
Investment of up to โน750.20 lacs to acquire up to 30% stake in four renewable energy SPVs.
Target entities include Hexa Energy MH7, RC Green Powers, Hexa Energy MH11, and Hexa Energy MH2.
Vishal Kaul elevated to CEO-Aftermarket Domain; Rakesh Kher transitions to Chief Strategy Officer.
Vishnu Johri appointed as COO for 4W Lighting and ASEAN region to drive operational growth.
The renewable energy acquisitions are slated for completion by the second quarter of FY 2026-27.
๐ผ Action for Investors
The investment is a positive step toward long-term energy cost optimization and sustainability. Investors should monitor the performance of the aftermarket segment under the new leadership of Vishal Kaul.
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UNO Minda Subsidiary Faces โน51.14 Crore Customs Tax and Penalty Demand
UNO Minda's subsidiary, Minda Westport Technologies Limited (MWTL), has received an adverse order from the Principal Commissioner of Customs regarding HSN misclassification of imported CNG system components. The order demands a tax payment of โน25.57 crore along with a matching penalty of โน25.57 crore, totaling approximately โน51.14 crore plus applicable interest. The company has stated it disagrees with the findings and intends to file an appeal against the order. While the amount is significant, the management does not currently foresee a material impact on the overall financial or operational activities of the parent entity.
Key Highlights
Tax demand of โน25,56,79,094 issued due to alleged HSN misclassification of imported components.
Penalty of โน25,56,79,094 levied by the Principal Commissioner of Customs, New Delhi.
Total financial implication exceeds โน51.14 crore excluding applicable interest.
The dispute involves components used in the manufacturing of vehicle CNG systems.
Subsidiary MWTL to contest the order through an official appeal process.
๐ผ Action for Investors
Investors should monitor the legal proceedings of the appeal as a final adverse ruling would impact the subsidiary's profitability. However, the current operational impact on UNO Minda remains limited.
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Uno Minda Faces Rs 126.19 Cr Tax Demand and Rs 12.62 Cr Penalty for GST HSN Misclassification
Uno Minda Limited has received a significant tax demand from the GST authorities in Salem, Tamil Nadu, totaling approximately Rs 126.19 crore. The demand arises from alleged HSN misclassification covering the period from November 2017 to October 2023. In addition to the tax, the company has been slapped with penalties amounting to Rs 12.62 crore plus applicable interest. While the company intends to contest the order and claims no material impact, the total liability exceeds Rs 138 crore.
Key Highlights
Tax demand of Rs 42.38 crore and penalty of Rs 4.24 crore for the period Nov 2017 to March 2020
Tax demand of Rs 83.81 crore and penalty of Rs 8.38 crore for the period April 2020 to Oct 2023
Total aggregate tax and penalty demand stands at approximately Rs 138.81 crore plus interest
The company intends to contest the order on its merits through appropriate legal channels
Management currently does not foresee any material impact on financial or operational activities
๐ผ Action for Investors
Investors should monitor the outcome of the company's appeal as the demand amount is significant. While the company is contesting, any unfavorable final ruling could impact the bottom line in future quarters.
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ICRA Reaffirms Uno Minda's AA+ Rating; Enhances Rated Amount to Rs. 2,500 Crore
ICRA has reaffirmed Uno Minda Limited's long-term credit rating at AA+ with a Stable outlook and its short-term rating at A1+. The total rated amount has been enhanced from Rs. 2,400 crore to Rs. 2,500 crore to support the company's growth initiatives. The company demonstrated strong operational performance with a 17% YoY revenue growth in 9M FY2026, maintaining a healthy financial profile with a gearing of 0.4x and interest coverage of 12.2x. Despite a large capex plan of Rs. 1,500-1,600 crore for FY2026, ICRA expects the credit profile to remain robust due to strong order inflows and market leadership.
Key Highlights
ICRA reaffirmed [ICRA]AA+ (Stable) for long-term facilities and [ICRA]A1+ for short-term instruments.
Total rated bank facilities and debt instruments increased to Rs. 2,500 crore from Rs. 2,400 crore.
9M FY2026 revenues grew by approximately 17% YoY, achieving highest-ever quarterly revenue in Q3 FY2026.
Planned FY2026 capex of Rs. 1,500-1,600 crore for capacity expansion in lighting, alloy wheels, and EV systems.
Strong debt coverage indicators with interest coverage at 12.2x and Total Debt/OPBDITA at 1.3x as of September 2025.
๐ผ Action for Investors
The rating reaffirmation and stable outlook confirm the company's strong creditworthiness and ability to fund its aggressive expansion through internal accruals. Investors can remain confident in the company's growth trajectory and its leadership position in the auto-component sector.
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Uno Minda Faces โน138.8 Crore GST Demand and Penalty Over HSN Misclassification
Uno Minda Limited has received a tax demand order from the GST authorities in Salem, Tamil Nadu, totaling approximately โน126.19 crore in taxes and โน12.62 crore in penalties. The order covers two periods from November 2017 to October 2023 and pertains to alleged HSN misclassification. While the company intends to contest the order legally, the total potential liability exceeds โน138.8 crore plus interest. Management currently maintains that this will not have a material impact on financial or operational activities.
Key Highlights
Total tax demand of โน126.19 crore across two periods from 2017 to 2023
Combined penalty of โน12.62 crore imposed due to HSN misclassification
Specific tax demand of โน83.81 crore for the more recent period (April 2020 - October 2023)
Company to contest the order on merits; no immediate material impact foreseen
๐ผ Action for Investors
Monitor for any provisions the company might make in its next quarterly earnings regarding this tax dispute. The outcome of the legal contest will be crucial for long-term liability assessment.
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Uno Minda Q3 FY26 Revenue Up 20% to โน5,018 Cr; Adjusted PAT Grows 28% YoY
Uno Minda reported its highest-ever quarterly revenue of โน5,018 crores for Q3 FY26, marking a 20% YoY growth driven by strong performance in lighting and alloy wheels. Adjusted PAT (excluding a โน28 crore exceptional provision for new labor codes) rose 28% YoY to โน298 crores. The company is aggressively expanding capacity with new plants in Indonesia and Kharkhoda to leverage favorable trade deals like the India-US and India-EU FTAs. Management remains optimistic as EBITDA margins held steady at 11% despite higher depreciation from recent capitalizations.
Key Highlights
Consolidated revenue reached a record โน5,018 crores, up 20% YoY from โน4,184 crores.
Adjusted PAT stood at โน298 crores (up 28% YoY) after accounting for a โน28 crore labor code provision.
Share of profit from joint ventures nearly doubled to โน74 crores compared to โน40 crores in Q3 FY25.
Commissioned major facilities including 4W lighting in Indonesia and Phase 1 of the Kharkhoda alloy wheel plant.
Auto PLI scheme allocations for FY27 increased to โน5,940 crores, providing a tailwind for future growth.
๐ผ Action for Investors
Investors should maintain a positive outlook given the company's consistent outperformance of industry growth and strategic capacity expansions. The focus on premium segments like alloy wheels and lighting continues to drive margin resilience.
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UNO Minda Q3 FY26 Consolidated Net Profit Rises 18% YoY to โน300.48 Crore
UNO Minda reported a strong year-on-year performance for the quarter ended December 31, 2025, with consolidated revenue growing 20% to โน5,018.06 crore. Consolidated net profit for the quarter stood at โน300.48 crore, up from โน254.37 crore in the same period last year, despite a minor sequential dip from Q2. For the nine-month period, the company demonstrated robust growth with net profit climbing 27.5% to โน932.30 crore. The company maintains a stable financial position with a standalone debt-equity ratio of 0.40.
Key Highlights
Consolidated revenue for Q3 FY26 reached โน5,018.06 crore, a 20% increase over โน4,183.99 crore in Q3 FY25.
Net profit for the quarter grew 18% YoY to โน300.48 crore, though it declined slightly from โน322.79 crore in Q2 FY26.
Nine-month consolidated revenue surged to โน14,321.18 crore compared to โน12,246.29 crore in the previous year.
Basic Earnings Per Share (EPS) for the quarter improved to โน4.80 from โน4.05 in the corresponding quarter last year.
Standalone debt-equity ratio remains healthy at 0.40, indicating disciplined capital management.
๐ผ Action for Investors
Investors should view the strong year-on-year growth as a sign of continued market outperformance in the auto-component sector. Monitor the slight sequential margin compression to see if it stems from raw material costs or product mix shifts.
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Uno Minda Q3 FY26 PAT up 28% to โน298 Cr; Announces โน764 Cr Alloy Wheel Expansion
Uno Minda reported a strong Q3 FY26 with consolidated revenue growing 20% YoY to โน5,018 crore, driven by core segments and emerging tech like EV systems and ADAS. Profitability improved significantly with PAT rising 28% to โน298 crore and EBITDA margins expanding slightly to 11.0%. The company declared an interim dividend of โน0.90 per share and announced a major โน764 crore greenfield expansion in the 4W alloy wheel segment. This expansion aims to add 1.8 million wheels per annum capacity over the next four years to capture higher market share in the LPDC technology segment.
Key Highlights
Consolidated Revenue grew 20% YoY to โน5,018 Cr in Q3 FY26
Consolidated PAT (excluding exceptional items) increased 28% YoY to โน298 Cr
Board declared an interim dividend of โน0.90 per share (45% of face value)
Approved โน764 Cr capex for a new 1.8 million p.a. capacity 4W alloy wheel plant
EBITDA margins improved by 10 bps YoY to 11.0% with EBITDA at โน554 Cr
๐ผ Action for Investors
Investors should view the strong double-digit growth and margin expansion as a sign of successful premiumization and EV adoption. The large capex in alloy wheels indicates strong future demand visibility from OEMs, supporting a positive long-term outlook.
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Uno Minda Q3 FY26: Revenue Up 20% to โน5,018 Cr, PAT Grows 28% YoY
Uno Minda reported a strong performance for Q3 FY26, with consolidated revenue growing 20% YoY to โน5,018 Cr. Net profit (UML share) saw a robust 28% increase to โน298 Cr, supported by stable EBITDA margins of 11.0%. The company is aggressively expanding its capacity with a total capex pipeline of โน3,155 Cr, including new facilities for EV powertrains and alloy wheels. Operational highlights include the full acquisition of UMBM and the commissioning of a new lighting plant in Indonesia.
Key Highlights
Consolidated revenue grew 20% YoY to โน5,018 Cr, while Group revenue (including JVs) rose 21% to โน6,476 Cr.
PAT (excluding exceptional items) increased by 28% YoY to โน298 Cr for the quarter.
EBITDA margins improved slightly to 11.0% from 10.9% in the previous year.
Total capex pipeline of โน3,155 Cr across 11 projects, including a โน764 Cr 4W alloy wheel facility.
Acquired remaining stake in UMBM (Buehler motors JV), making it a 100% subsidiary.
๐ผ Action for Investors
The company's strong double-digit growth and massive capex plan signal robust long-term prospects. Investors should maintain a positive outlook as the company benefits from auto premiumization and the EV transition.
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UNO Minda Declares Interim Dividend of Rs 0.90 per Share; Sets Record Date for Feb 11, 2026
UNO Minda Limited has declared an interim dividend of Rs 0.90 per equity share for the financial year 2025-26, representing a 45% payout on the face value of Rs 2. The Board of Directors has fixed February 11, 2026, as the record date to determine eligible shareholders. Following recent SEBI amendments, the company will now process all dividend payments exclusively through electronic modes, discontinuing the use of physical cheques or warrants. Shareholders must ensure their bank and KYC details are updated by the record date to receive the credit.
Key Highlights
Interim dividend of Rs 0.90 per equity share declared for FY 2025-26
Dividend payout represents 45% of the face value of Rs 2 per share
Record date for determining eligibility is fixed as Wednesday, February 11, 2026
Mandatory electronic-only dividend payment as per SEBI notification dated Nov 18, 2025
๐ผ Action for Investors
Investors should ensure they hold the stock before the ex-dividend date to be eligible for the payout. Additionally, verify that bank account and KYC details are updated with your Depository Participant to avoid payment delays.
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Uno Minda to Invest โน764 Crore for New 1.8M Alloy Wheel Capacity in Maharashtra
Uno Minda's board has approved a significant capital expenditure of โน764 crore to establish a new 4-wheeler alloy wheel manufacturing facility in Chhatrapati Sambhajinagar, Maharashtra. The plant is designed for a total capacity of 1.80 million alloy wheels per annum, to be commissioned in a phased manner. Alongside this expansion, the company declared an interim dividend of โน0.90 per share (45%) for FY 2025-26. For the quarter ended December 31, 2025, the company reported standalone revenue of โน3,746.62 crore and a net profit of โน156.20 crore.
Key Highlights
Approved fresh capital expenditure of โน764 crore for a new manufacturing facility in Maharashtra
Targeted annual capacity of 1.80 million 4-wheeler alloy wheels to be achieved in phases
Declared interim dividend of โน0.90 per equity share (45%) with record date of February 11, 2026
Standalone revenue for Q3 FY26 rose to โน3,746.62 crore compared to โน3,136.22 crore YoY
Standalone net profit for the quarter stood at โน156.20 crore after an exceptional impairment of โน11.76 crore
๐ผ Action for Investors
The significant investment in the high-growth alloy wheel segment signals strong long-term demand visibility and is a positive for the stock. Investors should monitor the execution timeline of the new facility and the impact of the interim dividend payout.
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UNO Minda Declares Rs 0.90 Dividend & Approves Rs 764 Cr Capex for New Alloy Wheel Plant
UNO Minda has declared an interim dividend of Rs 0.90 per share for FY 2025-26, setting February 11, 2026, as the record date. Alongside the dividend, the board approved a major expansion project in Maharashtra for a new alloy wheel plant with a total investment of Rs 764 crore. For Q3 FY26, the company reported a standalone revenue of Rs 3,746.62 crore, marking a 19.5% YoY growth, while net profit stood at Rs 156.20 crore. The flat profit growth was impacted by a one-time exceptional impairment charge of Rs 35.18 crore related to its subsidiary.
Key Highlights
Interim dividend of Rs 0.90 per share (45% of face value) with record date Feb 11, 2026
Approval of Rs 764 crore capex for a new manufacturing facility in Chhatrapati Sambhajinagar
New plant to have an annual capacity of 1.80 million Alloy Wheels, to be scaled in phases
Standalone revenue for Q3 FY26 increased to Rs 3,746.62 crore from Rs 3,136.22 crore YoY
Net profit for the quarter was Rs 156.20 crore, impacted by a Rs 35.18 crore impairment charge
๐ผ Action for Investors
Investors should view the massive capex as a long-term growth driver in the premium alloy wheel segment. The dividend provides immediate yield, while the strong revenue growth suggests robust demand despite the one-time impairment hit.
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Uno Minda Q3 Revenue Up 19% YoY; Declares โน0.90 Dividend & โน764 Cr Capex for Alloy Wheel Plant
Uno Minda reported a strong 19.4% YoY growth in standalone revenue for Q3 FY26, reaching โน3,746.62 crore. The company declared an interim dividend of โน0.90 per share (45% of face value) with a record date of February 11, 2026. A major expansion was approved for a new 4-wheeler alloy wheel plant in Maharashtra with a โน764 crore investment and 1.80 million annual capacity. While revenue grew, net profit remained flat at โน156.20 crore, primarily due to a โน35.18 crore exceptional item related to subsidiary impairments.
Key Highlights
Standalone Revenue from operations grew 19.4% YoY to โน3,746.62 crore for the quarter ended Dec 31, 2025.
Approved โน764 crore capital expenditure for a new 4-wheeler alloy wheel plant with 1.80 million annual capacity in Maharashtra.
Declared an interim dividend of โน0.90 per equity share for FY 2025-26.
Net profit for the quarter stood at โน156.20 crore, impacted by a โน35.18 crore exceptional impairment charge.
Nine-month standalone revenue reached โน10,768.68 crore compared to โน9,082.43 crore in the previous year.
๐ผ Action for Investors
Investors should focus on the robust top-line growth and the aggressive โน764 crore expansion plan which signals strong demand in the alloy wheel segment. The flat net profit is a result of one-time exceptional items rather than operational weakness, making the stock a watch for long-term growth.
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UNO Minda to Consider Interim Dividend on Feb 5; Tax & KYC Update Deadline Feb 11
UNO Minda's Board of Directors will meet on February 5, 2026, to consider and recommend an interim dividend for the financial year ending March 31, 2026. The company has issued a communication to shareholders to update their KYC and submit tax declarations by February 11, 2026, to ensure correct TDS application. Resident shareholders with a valid PAN will attract a 10% TDS for dividends over โน10,000, whereas a 20% rate applies if PAN is missing. Following SEBI's latest mandate, all dividend payments will now be processed solely through electronic modes.
Key Highlights
Board meeting scheduled for Feb 5, 2026, to consider interim dividend for FY 2025-26.
Submission deadline for tax declarations and KYC updates is Feb 11, 2026.
TDS rate of 10% for resident individuals with PAN on dividends exceeding โน10,000.
Non-resident withholding tax rate of 20% plus surcharge, with potential for lower treaty rates.
Mandatory electronic payment of dividends; physical cheques and warrants have been discontinued per SEBI norms.
๐ผ Action for Investors
Ensure your PAN and bank account details are updated with your Depository Participant or RTA by February 11, 2026, to avoid higher tax deductions. Monitor the February 5 board meeting outcome for the specific dividend amount and record date.
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Uno Minda to Acquire 30% Stake in Hexa Sunshine SPV for โน6.50 Cr to Source Renewable Power
Uno Minda Limited and its subsidiary UMKL have approved a combined investment of โน6.50 crores to acquire up to a 30% equity stake in Hexa Sunshine Private Limited. This Special Purpose Vehicle (SPV) is dedicated to generating renewable energy, specifically wind and solar power. The acquisition is intended to supply green energy to the company's manufacturing units in Gujarat via an open-access arrangement. This strategic move aims to increase the share of renewable energy in the company's power mix and is expected to be completed by Q3 FY 2026-27.
Key Highlights
Total investment of โน6.50 crores for up to 30% equity stake in the renewable energy SPV.
Uno Minda to invest โน5.25 crores, while subsidiary Uno Minda Kyoraku Ltd (UMKL) will invest โน1.25 crores.
The SPV will provide solar and wind power to units in Gujarat to optimize energy costs and ESG compliance.
The acquisition process is slated for completion by the third quarter of the 2026-27 financial year.
Hexa Sunshine Private Limited is a newly incorporated entity (April 2024) with NIL turnover as of FY 2024-25.
๐ผ Action for Investors
Investors should view this as a positive step toward operational sustainability and long-term cost management. While the investment amount is small relative to the company's size, it reflects a disciplined approach to ESG goals.
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Uno Minda completes acquisition of 49.90% stake in Uno Minda Buehler Motor
Uno Minda Limited has completed the acquisition of 1,18,26,300 equity shares, representing a 49.90% equity stake, in Uno Minda Buehler Motor Private Limited (UMBM) from Buehler Motor GmbH, Germany. With this acquisition, UMBM has become a Wholly Owned Subsidiary of Uno Minda Limited. This strategic move will allow Uno Minda to have complete control over UMBM's operations and future growth. Investors should monitor how this acquisition contributes to Uno Minda's overall revenue and profitability in the coming quarters.
Key Highlights
Acquisition of 1,18,26,300 equity shares
Acquired 49.90% equity stake in Uno Minda Buehler Motor Private Limited
Uno Minda Buehler Motor Private Limited becomes a Wholly Owned Subsidiary
๐ผ Action for Investors
Investors should closely monitor the integration of Uno Minda Buehler Motor Private Limited and its impact on Uno Minda's future earnings. Keep an eye on any synergies or cost savings resulting from this acquisition.
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UNO Minda terminates Joint Venture Agreement with Buehler Motor GmbH
Uno Minda Limited has announced the termination of its Joint Venture Agreement with Buehler Motor GmbH. This decision led to the execution of a Joint Venture Termination Agreement, a Share Purchase Agreement, and an amended Technical License Agreement (TLA) between Uno Minda Buehler Motor Private Limited (UMBM) and Buehler. The termination will be effective upon fulfilling conditions in the Share Purchase Agreement and completion of Buehler's stake acquisition. According to the company, the termination of the joint venture agreement will not have a material impact on the business.
Key Highlights
Joint Venture Termination Agreement executed on December 06, 2025.
Share Purchase Agreement executed among Uno Minda Limited, UMBM and Buehler on December 06, 2025.
Amended Technical License Agreement (TLA) between UMBM and Buehler executed on December 06, 2025.
Termination effective upon fulfillment of conditions in the Share Purchase Agreement.
๐ผ Action for Investors
Investors should monitor the completion of the Share Purchase Agreement, as the termination is contingent upon it. While the company anticipates no material impact, keep an eye on future performance.
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UNO Minda to acquire 49.90% stake in Uno Minda Buehler for โน10,64,367
UNO Minda Limited will acquire the remaining 49.90% equity stake in its joint venture, Uno Minda Buehler Motor Private Limited (UMBM), from Buehler Motor GmbH for โน10,64,367. Post-acquisition, UMBM will become a wholly-owned subsidiary. The company will also invest up to โน40 Crores in UnoMinda EV Systems Pvt. Ltd. (UMEVS), a wholly-owned subsidiary, to support its working capital needs. The acquisition of UMBM is expected to be completed in Q4 FY26.
Key Highlights
Acquisition of 49.90% equity stake in Uno Minda Buehler Motor Private Limited
Consideration for acquisition is โน10,64,367
Investment of up to โน40 Crores in UnoMinda EV Systems Pvt. Ltd.
Uno Minda Buehler Motor Private Limited turnover for FY25 was โน516.13 Lakhs
๐ผ Action for Investors
Investors should monitor the progress of the acquisition and the impact of the investment in UnoMinda EV Systems on the company's future growth.