Uno Minda September profit rises 37% as revenue gains 38%

Uno Minda Limited reported unaudited consolidated net profit of Rs 440.81 crore for the quarter ended September 30, 2026, up 37% from Rs 322.79 crore a year earlier, as revenue from operations increased 38% to Rs 6,655.42 crore. Total expenses rose 37%, while the calculated operating margin declined year on year.

What did Uno Minda report for the September 2026 quarter?

Uno Minda reported consolidated net profit of Rs 440.81 crore for the quarter ended September 30, 2026, compared with Rs 322.79 crore in the quarter ended September 30, 2025. The increase of Rs 118.02 crore was about 37%, while profit also exceeded the Rs 315.51 crore reported in the preceding quarter ended June 30, 2026.

Revenue from operations reached Rs 6,655.42 crore, against Rs 4,814.03 crore a year earlier and Rs 5,556.85 crore in the June 2026 quarter. Total income, including other income, rose to Rs 6,659.92 crore from Rs 4,826.96 crore, although other income declined to Rs 4.50 crore from Rs 12.93 crore in the year-earlier quarter.

Profit before tax was Rs 570.79 crore in the September 2026 quarter, compared with Rs 409.25 crore a year earlier. Income-tax expense rose to Rs 129.98 crore from Rs 86.46 crore, comprising current tax of Rs 141.08 crore and a deferred-tax credit of Rs 11.10 crore.

Why did Uno Minda's expenses rise in the quarter?

Uno Minda's expenses increased chiefly because raw-material and component consumption rose to Rs 4,061.85 crore in the September 2026 quarter from Rs 2,870.61 crore a year earlier. This Rs 1,191.24 crore increase was the largest movement among disclosed expense lines and accompanied a Rs 1,841.39 crore increase in revenue from operations.

Purchases of traded goods rose to Rs 383.21 crore from Rs 177.62 crore, while employee-benefit expense increased to Rs 753.25 crore from Rs 635.73 crore. Other expenses grew to Rs 669.71 crore from Rs 534.61 crore, and finance costs increased to Rs 48.70 crore from Rs 45.39 crore.

Depreciation and amortisation was Rs 178.05 crore, compared with Rs 173.42 crore in the September 2025 quarter. Changes in inventories of finished goods, traded goods and work-in-progress represented an expense of Rs 54.13 crore, against Rs 43.70 crore a year earlier, contributing to total quarterly expenses of Rs 6,148.90 crore.

Did Uno Minda's operating margin change year on year?

Uno Minda's calculated operating margin was about 11.1% in the September 2026 quarter, compared with about 11.7% a year earlier. This calculation uses earnings before interest, tax, depreciation and amortisation, or EBITDA, divided by revenue from operations; Uno Minda did not separately report this measure.

Calculated EBITDA was Rs 737.77 crore in the September 2026 quarter, consisting of Rs 511.02 crore profit before the share of associates and joint ventures, exceptional items and tax, plus Rs 48.70 crore of finance costs and Rs 178.05 crore of depreciation and amortisation. The comparable prior-year measure was Rs 564.69 crore on revenue of Rs 4,814.03 crore.

The lower calculated margin coincided with an increase in raw-material and component consumption to about 61% of September-quarter revenue, from about 60% in the year-earlier quarter. Employee-benefit expense was about 11% of revenue in both periods, based on the reported expense and revenue figures.

How did Uno Minda perform in the first half of 2026-27?

Uno Minda reported net profit of Rs 756.32 crore for the six months ended September 30, 2026, compared with Rs 631.82 crore in the corresponding six months of 2025. Revenue from operations increased to Rs 12,212.27 crore from Rs 9,303.12 crore, a rise of about 31%.

Profit before tax for the first half was Rs 973.64 crore, compared with Rs 808.36 crore a year earlier, while tax expense increased to Rs 217.32 crore from Rs 176.54 crore. The share of profit from associates and joint ventures declined to Rs 107.32 crore from Rs 110.63 crore, even as profit before that share rose to Rs 866.32 crore from Rs 697.73 crore.

Net cash generated from operating activities was Rs 711.01 crore during the six months ended September 30, 2026, compared with Rs 677.58 crore in the prior-year period. Investing activities used Rs 736.95 crore, including Rs 806.53 crore spent on property, plant and equipment, investment property, intangible assets, capital work in progress and leasehold land.

What changed in Uno Minda's balance sheet and funding?

Uno Minda's total assets stood at Rs 15,193.16 crore on September 30, 2026, compared with Rs 13,705.36 crore on March 31, 2026. Property, plant and equipment increased to Rs 4,609.74 crore from Rs 4,428.28 crore, while capital work in progress rose to Rs 947.47 crore from Rs 739.35 crore.

Working-capital balances also increased in the six months. Inventories rose to Rs 2,479.27 crore from Rs 2,131.02 crore, and trade receivables increased to Rs 3,371.14 crore from Rs 2,706.27 crore. In the cash-flow statement, the inventory and receivables movements used Rs 348.25 crore and Rs 664.79 crore, respectively.

Total borrowings included Rs 827.77 crore of non-current borrowings and Rs 1,871.87 crore of current borrowings at September 30, 2026, compared with Rs 1,069.26 crore and Rs 1,468.03 crore on March 31, 2026. During the September quarter, Uno Minda issued listed commercial papers of Rs 100.00 crore carrying annual interest of 6.30% and redeemable on December 24, 2026.

Conclusion

Uno Minda's September-quarter results combined 38% revenue growth with a 37% increase in consolidated net profit to Rs 440.81 crore. The rise in raw-material consumption, traded-goods purchases, employee costs and other expenses broadly tracked the expansion in sales, while the calculated EBITDA margin moved to about 11.1% from about 11.7% a year earlier.

The next disclosed operating milestone is the planned start of production in March 2027 for existing capacity of 145,000 units a year, which had nil utilisation at the date of disclosure. Uno Minda also plans phased incremental capacity of 291,000 units a year from Q2 2028, requiring about Rs 85.00 crore and funded through term loans and internal accruals.