Uno Minda all lit up with more content per car and focus on electric vehicles

economictimes.indiatimes.com:

Uno Minda, a large-cap supplier of lighting, switching, acoustics and seating solutions to global automobile companies, has outpaced the industry growth aided by improving content per vehicle through premium offerings, introducing new products and expanding the electric vehicles (EVs) segment.

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The 18% annual growth in its revenue over the past five years was nearly two-and-a-half times better than the industry average. The company reported a strong business traction in FY24 with 25.2% growth in revenue at ₹14,064.7 crore while expanding its operating margin (Ebitda margin) by 20 basis points to 11.3%. The stock has gained 37% over the past three months, which includes a 16% gain in the past eight trading sessions after its March quarter result declaration.
The company's lighting and light metal technology (LMT) divisions, which together contribute nearly 50% to the revenue, were major growth drivers. Lighting revenue rose by 44% year-on-year in the March quarter helped by increasing adoption of app-controlled connected tail lamps by car makers and capacity expansion. The LMT segment recorded 43% growth during the quarter, supported by robust demand in two-wheeler and four-wheeler alloy wheels.

The impact of premiumisation across vehicle segments is evident from the significant increase in the company's kit value, which reflects the value of parts supplied for a vehicle. In the premium bike segment, the kit value rose