316 per cent returns: This multibagger auto components & equipments company commissions new EV systems plant on pre-orders!
The stock is up by 70 per cent in 2 years and 316 per cent over the last 3 years.
Uno Minda Ltd, the flagship company of the N.K. Minda Group is one of the most diversified auto component manufacturers in India; informed that the company has commissioned its new EV systems plant under its subsidiary Uno Minda Buehler Motor Private Limited (UMBM) in Bawal, Haryana. The plant will manufacture traction motors/BLDC motors for EV 2-wheeler and 3-wheeler. UMBM has already received orders from original equipment manufacturers (OEMs) and is expected to start supplies by Q3 FY24.
The company is a technology leader in the auto components industry and a leading tier-1 supplier of proprietary automotive solutions to OEMs. The Group is headquartered in Manesar, Haryana. It has engineering, research, and development centres in Manesar, Pune & Sonipat.
According to the financials, UNO Minda has a market cap of over Rs 33,000 crore with a 3-year stock price CAGR of 61 per cent. In Q1FY24, the net sales increased by 21.06 per cent to Rs 3,093 crore, the operating profit increased by 24.06 per cent to Rs 330 crore and the net profit increased by 20 per cent to Rs 180 crore compared to Q1FY23.
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On Monday, shares of UNO Minda Ltd plunged 1.08 per cent to Rs 583.55 per share with an intraday high of Rs 591.95 and an intraday low of Rs 572.85. The stock’s 52-week high is Rs 609.80 and its 52-week low is Rs 433.
The stock is up by 70 per cent in 2 years and 316 per cent over the last 3 years. Investors should keep an eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.