Uno Minda Green Mobility revenue doubled to Rs 649 crore

Uno Minda Limited’s Green Mobility revenue rose 102% year on year to Rs 649 crore in Q2 FY27 from Rs 321 crore, lifting its divisional revenue share to 10% from 7%. The quarter included Rs 291 crore of revenue from electric two-wheeler and three-wheeler systems, which grew 53% on rising vehicle penetration and new programmes.

How fast did Uno Minda's Green Mobility revenue grow?

Uno Minda’s Green Mobility revenue more than doubled in Q2 FY27, increasing by Rs 328 crore from Q2 FY26 and extending the sequential rise recorded over the preceding four quarters. Revenue moved from Rs 321 crore in Q2FY26 to Rs 356 crore in Q3FY26, Rs 423 crore in Q4FY26, Rs 542 crore in Q1FY27 and Rs 649 crore in Q2FY27. Its divisional revenue share reached 10% in Q2FY27, compared with 7% a year earlier.

The division grew faster than Uno Minda’s consolidated revenue in Q2 FY27. Consolidated revenue rose 38% year on year to Rs 6,655 crore, while Green Mobility rose 102%; as a result, its revenue mix increased by 3 percentage points. The castings division also gained mix, rising to 22% from 19%, whereas lighting declined to 21% from 23% and others declined to 16% from 20%.

Which businesses drove Uno Minda's Q2 FY27 Green Mobility revenue?

Uno Minda identified rising penetration and new programmes in electric two-wheeler and three-wheeler systems as drivers of Rs 291 crore of Q2 FY27 revenue, up 53% year on year. The presentation separately says that the division’s alternative-fuel business grew with increasing compressed natural gas, or CNG, penetration. It does not provide a separate quarterly revenue figure for the alternative-fuel operations.

The industry context in the presentation showed electric vehicle, or EV, registrations rising more than 70% year on year in Q2 FY27. Electric passenger-vehicle penetration increased to 8% from 5% a year earlier, while electric two-wheeler penetration reached 11.2% from 7.8%. New Corporate Average Fuel Efficiency norms notified from April 1, 2027 are described by management as supporting alternative fuels, EVs, hybrids and technologies that improve energy efficiency.

Green Mobility was the fifth-largest disclosed division by revenue in Q2 FY27, behind switches at Rs 1,609 crore, castings at Rs 1,441 crore, lighting at Rs 1,381 crore and others at Rs 1,099 crore. Its Rs 649 crore revenue exceeded seating revenue of Rs 476 crore. This comparison shows that the mix change was not solely a percentage effect from the rest of the business, as Green Mobility revenue expanded by more than Rs 300 crore from the year-earlier quarter.

How broad is Uno Minda's EV and alternative-fuel portfolio?

Uno Minda’s two-wheeler and three-wheeler EV portfolio covers low-voltage products operating from 48 volts to 96 volts, including traction motors, motor controllers, battery-management systems, DC-DC converters, onboard and off-board chargers, body-control modules and acoustic vehicle alert systems. The company lists a potential kit value of 37,636 rupees for an electric two-wheeler, compared with 11,936 rupees for its existing internal-combustion-engine two-wheeler kit.

For four-wheelers, Uno Minda lists battery disconnect units, wall-mounted charging units, integrated charging control units, e-axles, alternating-current charging cables and acoustic vehicle alert systems. Products described as under production or with orders won include the electric drive unit, also called an e-axle, and low- and high-voltage integrated charging control units that combine an onboard charger, DC-DC converter and power distribution unit. Its alternative-fuel range includes CNG and hydrogen products such as electronic control units, valves and regulators.

Uno Minda says more than 95% of its product portfolio is powertrain agnostic, meaning it can be applied across internal-combustion, alternative-fuel, hybrid and battery-electric vehicles. This broader range includes lamps, alloy wheels, castings, sensors, controllers, seats and safety products. That portfolio positioning sits alongside EV-specific products rather than replacing the conventional component lines that accounted for most of Q2 FY27 revenue.

What EV capacity projects is Uno Minda implementing?

Uno Minda is implementing a Rs 437 crore four-wheeler EV powertrain-products facility at Khed through Uno Minda Auto Innovations, with Rs 218 crore incurred by September 30, 2026 and Phase 1 expected in H2 FY27. The same entity has announced a Rs 549 crore four-wheeler EV powertrain-products facility at Chhatrapati Sambhajinagar, scheduled for Phase 1 in Q2 FY28, with no cost incurred by September 30, 2026.

The project schedule also includes a Rs 210 crore EV casting-products plant at Chhatrapati Sambhajinagar. Uno Minda had incurred Rs 106 crore on that facility as of September 30, 2026, and expects Phase 1 in H2 FY27. These three EV-related projects represent Rs 1,196 crore of announced total cost, within the company’s overall listed project pipeline of Rs 5,287 crore, of which Rs 1,628 crore had been incurred at September 30, 2026.

The wider expansion plan includes a Rs 510 crore aluminium-casting plant in Hosur for structural, general and EV or powertrain applications, as well as about 1.0 million high-pressure die-casting alloy wheels for two-wheelers. Management has stated Phase 1 is due in Q4 FY28, while the existing Hosur operation is planned to relocate to the new location by Q1 FY29. These investments add manufacturing capacity beyond the dedicated powertrain projects and link the EV strategy with castings and wheel production.

Conclusion

Uno Minda’s Q2 FY27 result shows Green Mobility becoming a larger contributor to the group: divisional revenue rose to Rs 649 crore, its share reached 10%, and electric two-wheeler and three-wheeler systems delivered Rs 291 crore. The company is pursuing this growth through EV-specific systems, CNG and hydrogen products, and a broader portfolio it says is largely usable across different powertrains.

The next milestones disclosed by management are the Khed four-wheeler EV powertrain project and the EV casting project, both targeted for Phase 1 in H2 FY27. Investors can also watch the Chhatrapati Sambhajinagar four-wheeler EV powertrain project, whose Phase 1 is scheduled for Q2 FY28, and whether new programmes continue to raise Green Mobility’s revenue mix above the 10% reported in Q2 FY27.