Ramp-up of production at the new 4W lighting plant

New 4W lighting plant in Gujarat supported this growth, commissioned at the end of last financial year and started ramping up with increase in volumes of associated model.

Approval for scheme of arrangement between Harita Fehrer Limited (HFRL) and Minda Storage Batteries Private Limited (MSBPL)

NCLT approved the scheme of Arrangement of two wholly owned subsidiaries, Harita Fehrer Limited (HFRL) and Minda Storage Batteries Private Limited (MSBPL).

Consolidation of the P&L of Kosei Minda Aluminium (KMA) and Kosei Minda Mould (KMM)

The Company has also taken management and operational control of KMA and KMM w.e.f. 1 April 2023. Consequently, KMA and KMM P&L are also consolidated from the current quarter.

Commissioned two new EV plants

• EV systems plant under FRIWO JV commissioned in Q1 FY 2023-24

• Supplies have started and ramp-up is expected in the coming quarters

• Second EV systems plant under Buehler JV was commissioned in August 2023

Highest-ever quarterly production in both 4-wheelers and 2-wheelers alloy wheels

• Commissioning of capacity expansions for 2W alloy wheels

• Ramp-up of the recently commissioned 30k 4-wheeler alloy wheel line in Gujarat and robust OEM demand

Increase stake in Minda Westport Technologies Limited (MWTL)

The Board approved the increase of stake in MWTL from 50% to 76% and cemented Uno Minda as the market leader in alternate fuel systems.

New greenfield plant for 4-wheeler alloy wheels

• Setting up a new greenfield plant with a capacity of 1,20,000 wheels per month

• The project is to be executed over 5 years in three phases

Completed acquisition of ~ 86 acres of land in Khed City, Pune

In discussions for the acquisition of three additional similar land parcels in the north, west, and south of India.

Commissioning of enhanced capacity of 2 Million 2-wheelers alloy wheels

• Commissioned the third line on 23 December 2023

• All three lines aggregating to an additional capacity of 2 Million are now fully operational and ramping up

Order win for EV motors from E2-wheelers OEM

• Received new orders having annual peak revenue of around ₹ 250 Crores from EV OEMs

• Notable orders include off-board chargers from 3-W OEMs

• EV motor orders from two more new-age EV OEMs

Expanding the e4-wheeler-specific portfolio with TLA and StarCharge for EVSE

• Entered into a Technical License Agreement with Starcharge Energy to manufacture and sale electric vehicle supply equipment (EVSE)

• Comprises wall-mounted AC chargers designed for convenient home charging

Secured a large parcel of land at the upcoming auto hub in Kharkhoda

The Company secured a land parcel of 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions.

Increased stake in Minda Westport to 76%. To be consolidated from Q1 FY 2024-25

Increased stake on 18 April 2024 in Joint Venture with Westport to 76% to accelerate growth in growing CNG and another alternate fuel market

Expansion of Alloy Wheels for 2-wheelers by 2 Million units with an investment of ₹ 300 Crores

Increase capacity from ~ 6 Million to 8 Million per annum.