Uno Minda zooms 26% in November, stock nears record high; here's why

Uno Minda's share price hit a 52-week high of ₹1,367.50, gaining 4% on the NSE in Monday's intraday deals.

Share price of Uno Minda surged 4% to ₹1,367.50 on the NSE.

Deepak Korgaonkar Mumbai

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Uno Minda share price movement

Uno Minda’s share price hit a 52-week high of ₹1,367.50, gaining 4 per cent on the National Stock Exchange (NSE) in Monday’s intraday deals in an otherwise tepid market. Thus far in November, the stock price of the auto parts & equipments company rallied 26 per cent, against a 8 per cent rise in the Nifty Auto index.

At 01:00 PM, Uno Minda quoted 3.5 per cent higher at ₹1,362.90 on the NSE, compared to a 0.24 per cent decline in the Nifty 50. The stock quoted close to its record high of ₹1,381.95 on the NSE.

What’s driving Uno Minda stock’s price?

Uno Minda, a global technology leader in automotive components and systems manufacturing, delivered another record quarter with its highest-ever quarterly revenue and profit. The performance reflects strong business momentum, broad-based growth across product segments and continued progress in scaling its manufacturing capacities and technology-led businesses, the company said.

For Q2FY27, Uno Minda reported a consolidated revenue of ₹6,655 crore, registering a strong 38 per cent year-on-year (YoY) growth compared to ₹4,814 crore in Q2FY26.

The revenue growth was broad-based, driven by volume expansion, increasing value addition and a favourable product mix across key business segments, including switches, lighting, alloy wheels and seating. The rapidly expanding Green Mobility comprising of electric vehicle (EV) systems and alternate fuel businesses also contributed to the overall growth momentum. Additionally, the ramp-up of recently commissioned facilities and incremental capacities supported the strong performance, Uno Minda said.

The company reported 33 per cent YoY growth in earnings before interest, tax, depreciation and amortization (EBITDA) of ₹733 crore in Q2FY27 as against ₹552 crore in Q2FY26. Profit after tax jumped 38 per cent YoY at ₹420 crore in Q2FY27, compared to ₹304 crore in Q2FY26. The growth in profitability reflects the strength of the company's diversified business portfolio and sustained operating performance, Uno Minda said.

With a diversified business portfolio, a strong investment pipeline and increasing opportunities across technology-led product segments, the management of Uno Minda is confident of sustaining the company’s growth momentum while maintaining focus on profitability, operational excellence and long-term shareholder value creation.

Brokerages view on Uno Minda

Uno Minda remains optimistic on H2FY27 demand, driven by festive demand, new launches and premiumisation. Growth visibility is supported by 16 projects under execution/ramp-up and a strong order pipeline across EV powertrain, lighting, seating and automotive electronics. Management reiterated the FY27 EBITDA margin guidance of 11.0 per cent (±50 bps). The ₹5,200–5,300 crore capex pipeline is expected to generate asset turns of 1.8–2.0x and pre-tax ROCE of 18–20 per cent by the third full year of production, analysts at Axis Securities said in the result update.

The brokerage firm maintains a BUY rating on Uno Minda with a target price of ₹1,525 per share, supported by strong growth visibility from new order wins, EV expansion, capacity additions and a diversified, powertrain-agnostic product portfolio.

Having successfully scaled its E2W portfolio across chargers, controllers and motors, Uno Minda is now expanding into high-value 4W EV powertrain products through its proposed partnership with China’s Inovance Automotive. The first facility at Khed, Pune, is scheduled to commence operations in H2FY27, while a second facility at Chhatrapati Sambhajinagar—backed by an anchor-customer order—is planned for EDUs and DHT systems. The portfolio could add ~₹1.15–2 lakh of content per vehicle and materially expand the company’s addressable opportunity across Indian original equipment manufacturers (OEMs), although regulatory approval for the technology partnership in China remains a near-term monitorable, analysts at Equirus Securities said.

The brokerage firm remains constructive on Uno Minda, backed by strong quarter performance, its strong execution track record, and ongoing capacity expansion across multiple segments. Analysts expect the company to deliver a 19 per cent revenue CAGR over FY26–FY29E, significantly outperforming the broader auto industry. Given its consistent industry-leading performance, Equirus Securities maintains a LONG rating with a September 2027 target price of ₹1,531, based on 40x Sep'28E EPS.Disclaimer: Views and outlook in this report belong to the brokerages and analysts cited. They do not reflect the views of Business Standard. Readers are advised to exercise discretion.