UNO MINDA to invest ~Rs300 crore to expand manufacturing capacity

26 Aug 2022 , 09:19 AM

Uno Minda Limited (formerly known as Minda Industries Limited), has informed that it is investing around Rs300 crore in expanding its manufacturing capacity of 4W Alloy Wheels and 4W Automotive switches to meet rising demand.

Minda Kosei Aluminum Wheel Private Limited, a subsidiary of Uno Minda will be expanding its 4W Alloy wheel capacity by 60,000 wheels per month to 240,000 wheel per month at its plant in Bawal, Haryana. The additional capital expenditure for the aforesaid capacity expansion will be Rs190 crore. 

Further, the expansion is expected to be commissioned in two phase with first phase of 30,000 wheel per month in December 2023 and remaining in June 2024. 

Mindarika Private Limited (MRPL), another subsidiary of Uno Minda  is setting up a new manufacturing plant at Farrukhnagar (Gurugram, Haryana) to cater to increased demand of 4W Automotive switches from Indian and International customers. 

The cost of the project for setting up Phase 1 of the manufacturing plant at Farrrukhnagar will be ~Rs110 crore and will be completed by September 2023. The phase 1 of the plant will manufacture parts to be used for manufacturing of auto components. The new plant will be strategically situated 15 km away from the existing Manesar plant.

Furthermore, Dubai footprint will entail setting up of a wholly owned subsidiary and an office in Mainland Dubai in order to enhance the company’s market reach in African & Middle East markets with focus on aftermarket segment.

At around 9:17 AM, Uno Minda Ltd is currently trading at Rs569.90 per share up by Rs5.05 or 0.89% from its previous closing of Rs564.85 per share on the BSE.

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