UNO Minda Ltd-$ — Q4 FY26 earnings call
Summary generated by AI from the official transcript UNO Minda Ltd-$ filed with BSE on 22 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Uno Minda reported consolidated Q4 FY26 revenue of Rs 5,336 crore, up 18% year-on-year, with EBITDA of Rs 603 crore at an 11.3% margin and profit after tax attributable to shareholders growing 22% to Rs 326 crore. For the full year, revenue reached Rs 19,589 crore, up 17%, with normalized EBITDA growing 16% to Rs 2,182 crore and normalized PAT rising 24% to Rs 1,166 crore. Management discussed new order wins across lighting, seating, infotainment and sunroof businesses, a new greenfield EV powertrain facility in Chhatrapati Sambhajinagar, and commodity and labor cost inflation pressures expected in coming quarters.
3 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Consolidated revenue: INR 5,336 crores (Q4 FY26)
p. 5
“Our consolidated revenues from operations for the quarter stood at INR 5,336 crores, representing a robust 18% year-on-year growth.”
Sunil Bohra, page 5 of the filed PDF · View the filing
EBITDA: INR 603 crores (Q4 FY26)
p. 5
“On profitability front, EBITDA grew by 14% year-on-year to INR 603 crores with healthy EBITDA margins of 11.3%.”
Sunil Bohra, page 5 of the filed PDF · View the filing
Profit after tax attributable to shareholders: INR326 crores (Q4 FY26)
p. 6
“profit after tax attributable to shareholders grew by 22% to INR326 crores compared to INR266 crores in Q4 FY25”
Sunil Bohra, page 6 of the filed PDF · View the filing
Revenue from operations: INR 19,589 crores (FY26)
p. 6
“the revenue from operations for the financial year ending March '26 stood at INR 19,589 crores, translating into a robust year-on-year growth of 17%.”
Sunil Bohra, page 6 of the filed PDF · View the filing
Normalized EBITDA: INR 2,182 crores (FY26)
p. 6
“Normalized EBITDA for the period grew by 16% to INR 2,182 crores, underscoring the operating strength of the business even as we continue to invest in new capacity and future-ready technologies.”
Sunil Bohra, page 6 of the filed PDF · View the filing
Normalized PAT: INR 1,166 crores (FY26)
p. 6
“On a normalized basis, excluding both prior period income and exceptional items, PAT is INR 1,166 crores, representing a strong year-on-year growth of 24% over INR 943 crores in FY25.”
Sunil Bohra, page 6 of the filed PDF · View the filing
Net debt: INR 2,179 crores (as of March 2026)
p. 10
“The net debt as of 31st March stood at INR 2,179 crores compared to INR 2,091 crores as on March '25.”
Sunil Bohra, page 10 of the filed PDF · View the filing
Net debt-to-equity ratio: 0.30 (March 2026)
p. 10
“the balance sheet remains very strong with a net debt-to-equity ratio improving to 0.30 as of March '26 as against 0.34 as of March '25”
Sunil Bohra, page 10 of the filed PDF · View the filing
ROCE: 19.2% (FY26)
p. 10
“We have achieved ROCE of 19.2% and return of equity of 19.1% for FY26.”
Sunil Bohra, page 10 of the filed PDF · View the filing
Total dividend per share: INR 2.65 per share (FY26)
p. 10
“the total dividend for FY26 reaches INR 2.65 per share or roughly INR 153 crores”
Sunil Bohra, page 10 of the filed PDF · View the filing
Switch systems segment revenue: INR 1,343 crores (Q4 FY26)
p. 6
“The segment recorded its highest ever quarterly revenues of INR 1,343 crores, reflecting a robust 17% year-on-year growth and contributing 25% to our group's consolidated turnover.”
Sunil Bohra, page 6 of the filed PDF · View the filing
Casting business revenue: INR 982 crores (Q4 FY26)
p. 7
“The casting business revenues for the quarter reached INR 982 crores, reflecting a strong 14% year-on-year growth and contributing approximately 18% to Uno Minda's consolidated revenues.”
Sunil Bohra, page 7 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
EBITDA margin — around 11% plus/minus 50 basis points · FY27
stated firmly by Sunil Bohra
p. 11
“Despite the ongoing challenges and initial costs in the newly commissioned plants, we continue to expect an annual EBITDA margin of around 11% plus/minus 50 basis points.”
Sunil Bohra, page 11 of the filed PDF · View the filing
Capital expenditure — approximately INR 1,750 crores · FY27
stated firmly by Sunil Bohra
p. 11
“For FY27, we have planned a total capital expenditure of approximately INR 1,750 crores, comprising of around INR 650 crores towards sustaining capex and around INR 1,100 crores towards growth capex and balance towards land acquisition.”
Sunil Bohra, page 11 of the filed PDF · View the filing
4-wheeler switching plant transition — complete transition of Manesar plant to Farrukhnagar · next 6 months
stated firmly by Sunil Bohra
p. 6
“We expect to complete the transition of Manesar plant to Farrukhnagar over the next 6 months.”
Sunil Bohra, page 6 of the filed PDF · View the filing
Physical exports from India — cross INR 1,500 crores mark · next few years
stated conditionally by Sunil Bohra
p. 16
“This INR 600 crores, coupled with all the significant new business wins what we have shared, definitely in next few years, we do expect this to cross INR 1,500 crores mark based on what we know now.”
Sunil Bohra, page 16 of the filed PDF · View the filing
EV powertrain facility (CSN) commissioning — second quarter of FY28
stated firmly by Sunil Bohra
p. 9
“Capital expenditure will be phased over the next 2, 3 years with the facility expected to be commissioned by second quarter of FY28.”
Sunil Bohra, page 9 of the filed PDF · View the filing
Sunroof manufacturing facility commissioning — end of FY27
stated firmly by Sunil Bohra
p. 9
“Construction of the sunroof manufacturing facility is progressing as planned with the commissioning expected by end of FY27.”
Sunil Bohra, page 9 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said there is good customer visibility for the DST and EDU businesses, separate teams handle each plant, and experience from the first plant will carry over to the second.
Answered by Sunil Bohra
Asked by Mukesh Saraf: Why set up a second EV powertrain plant in Maharashtra while the first (Khed) is still under construction, and what gives confidence given the capex scale?
p. 12
“So starting with, first, as I said, the second plant we are putting, we have got very good visibility on the new business for both EDU and the DST.”
Sunil Bohra, page 12 of the filed PDF · View the filing
Management said the quantum was difficult to quantify given it varies by business, and that commodity inflation impact is expected to be sizable in coming quarters as customer price discussions continue.
Answered by Sunil Bohra
Asked by Aditya Jhawar: What was the quantum of debit/credit note adjustments and commodity inflation impact in Q4, and will Q1 see a bigger hit?
p. 14
“But to your point, yes, there will be expected to be an impact in the coming quarters, which are expected to be sizable.”
Sunil Bohra, page 14 of the filed PDF · View the filing
Management confirmed gross margin compression of about 1%, said the trading business impact was small, and acknowledged start-up costs from new plants are already factored into the margin guidance.
Answered by Sunil Bohra
Asked by Siddhartha Bera: What was the impact of the new trading business and lower aluminum pass-through on gross margin, and could there be start-up cost pressure from new plants?
p. 16
“There is a gross margin compression of almost 1%.”
Sunil Bohra, page 16 of the filed PDF · View the filing
Management gave penetration figures and said the labor cost impact from Haryana and Gujarat wage increases is a couple hundred crores.
Answered by Sunil Bohra
Asked by Raghunandhan N. L.: What is the current alloy wheel penetration for 2-wheeler and 4-wheeler segments, and what is the labor cost increase impact?
p. 15
“In terms of penetration trends, the 2-wheeler alloy wheel penetration is somewhere around 70% and 4-wheeler EV alloy wheel penetration is somewhere around 40%.”
Sunil Bohra, page 15 of the filed PDF · View the filing
Management clarified it is an annual enabling resolution across instruments, not a specific fundraise plan.
Answered by Sunil Bohra
Asked by Neel Shah: What is the purpose of the INR2,500 crores fundraising resolution?
p. 19
“But if there is any specific fundraise plan, we will definitely have a separate communication to you. But as of now, there is no plan, and this is more of an enabling resolution.”
Sunil Bohra, page 19 of the filed PDF · View the filing
Risks flagged
Commodity price inflation following geopolitical escalation expected to materially impact coming quarters
p. 14
“In terms of commodity inflation, yes, that as everybody knows, it has started hitting after the geopolitical issue, which has happened.”
Sunil Bohra, page 14 of the filed PDF · View the filing
Sharp labor cost increases in states like Haryana and Gujarat
p. 14
“some of the labor price increases like in Haryana, the prices have been increased by almost 35%, followed by some of the other states like Gujarat”
Sunil Bohra, page 14 of the filed PDF · View the filing
Near-term moderation in alloy wheel penetration due to shift toward entry-level vehicle mix
p. 7
“From a demand standpoint, we are seeing some near-term moderation in alloy wheel penetration in our customers.”
Sunil Bohra, page 7 of the filed PDF · View the filing
Demand softness in 2-wheeler alloy wheels due to customer shift to steel wheels
p. 7
“In the 2-wheeler segment as well, demand softness was observed due to a shift in customer preference in specific programs where steel wheels were adopted in place of previously planned alloy wheels.”
Sunil Bohra, page 7 of the filed PDF · View the filing
Start-up costs from newly commissioned plants
p. 16
“There are challenges in costs, you are right. There will be start-up costs.”
Sunil Bohra, page 16 of the filed PDF · View the filing
Global growth moderation and geopolitical uncertainty affecting commodity prices and inflation
p. 3
“Recent geopolitical escalations in the Middle East have introduced fresh uncertainty, primarily manifesting through commodity price volatility and renewed inflationary pressures.”
Sunil Bohra, page 3 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.