Transcript of the earnings call held on May 18, 2026
UNOMINDA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
UNO Minda reported its highest ever quarterly revenues of INR 5,336 crore (18% YoY) and PAT of INR 326 crore (22% YoY) for Q4 FY26. Full year FY26 revenue stood at INR 19,589 crore (17% growth) with normalized PAT of INR 1,166 crore (24% growth). Management guided for FY27 EBITDA margins of 11% ±50 bps despite expecting commodity inflation impact and labor cost increases (35% in Haryana) in coming quarters. The company announced a new greenfield EV powertrain facility in Maharashtra (INR 550 crore capex) and won several major orders: 2-wheeler lighting (INR 450 crore annual peak), seating exports (INR 390 crore), IVI system (INR 600 crore), and 2-wheeler display unit (INR 200 crore). Planned FY27 capex is INR 1,750 crore with 7 of 11 ongoing projects commencing production or ramping up. Net debt-to-equity improved to 0.30 with ROCE at 19.2%.
Strong order wins and capacity expansion plans provide multi-year growth visibility. The FY27 margin guidance of 11% ±50 bps includes expected startup costs for new plants, indicating near-term headwinds from commodity inflation and labor cost increases that management is working to mitigate through customer price negotiations.