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Axis Securities Report
Uno Minda Ltd.'s Q1 FY25 revenue grew by 23.4%/0.6% YoY/QoQ, (7.3% Beat) on account of 20%/5% YoY increase in two-wheeler/passenger vehicle industry production volumes respectively with strong performances in lighting, alloy wheels and sensor/motor controller division.
The company’s consolidated Ebitda (3.3% beat) grew by 23.5% YoY (down 14% QoQ), and Ebitda margins (41 basis points Miss) stood at 10.7%, flat YoY but down 181 basis points QoQ, mainly led by lower gross margins. Adjusted profit after tax stood at Rs 211 crore, up 17% YoY but down 30% QoQ. This missed our estimates by 1%, due to higher financing costs and a lower share of profits from associates and joint ventures than expected.
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Automotive Axles Q1 Results Review – Long-Term Gains To Offset Short-Term Pain; Buy On Dips: Axis Securities
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