Year at a Glance
Q1 - New Identity
We are Now Uno Minda
We received approval from Central Government for changing the name of our flagship company from ‘Minda Industries Limited‘ to ‘Uno Minda Limited’
Bagged New Order from EV OEM
We have received incremental order of ~ ₹ 470 Crores Annual Peak value from EV OEMs during the quarter
Kit Value Increase in new facelift Models
Uno Minda kit value has increased in recently launched facelift models from OEMs
Completed 60K PV Alloy Wheel Expansion Plan at Bawal
During the quarter we started commercial operations of 60,000 wheel lines in Bawal
Best Workplace in Auto & Auto Components
We have recently been recognised as amongst the top 50 India’s Best Companies to work for and one of the best workplaces in Auto & Auto Components for Year 2022 by Great Place to Work Institute India
Q2 - Partnerships and New Expansions
JV with Buehler
The board approved formation of JV with 50.1% stake held by Uno Minda to manufacture traction motors for 2W and 3W EVs
JV with Tachi-S
The board has approved formation of JV with 51% stake held by Uno Minda to manufacture recliners and other seating mechanisms in phased manner
New 4W Light Manufacturing Facility
The board has approved the total capex outlay of ₹ 400 Crores
New 4W Switches Manufacturing Facility
The board has approved to setup a new plant at Farukhnagar under the subsidiary, Mindarika Private. Limited at an initial outlay of ₹ 110 Crores
Expansion in 4W Alloy Wheel Capacity
The board has approved another expansion of 60,000 wheels at a project cost of ₹ 190 Crores at Bawal Plant of Minda Kosei Aluminium Wheels Private Limited
Q3-Strengthening EV Specific Products and Exports
TLA with Asentec, Korea
Entered into TLA with Asentec Korea to design, develop, manufacture and market high tech wheel speed sensors in India
Large Order Wins for EV Products
Won incremental order with an annual peak value of approx ₹ 300 Crores comprising offboard charger, Motor-controllers, BMS and DC-DC Converters
Incremental export order from American 2W OEM
Uno Minda strengthens relationship with marquee American 2W OEM with an incremental order for switches and heated grips
Q4-4W Alloy Wheel Business Consolidation
Acquisition of Kosei Joint Venture Entities
Completed acquisition of remaining stake in Minda Kosei Aluminum (MKA), becomes a 100% subsidiary. Announced merger of MKA, KMA and KMM with the Company to drive consolidation and synergies
Commissioning of 30K 4W Alloy Wheel Line in Gujarat
The Company also commissioned 30,000 expansion line in Gujarat expanding its capacity from 295,000 wheels per month to 325,000
New Order Wins for 4W Lighting and EV Products
We continue to build strong order book for 4 lighting as well as for EV specific products