Nomura and Goldman Sachs have reiterated buy ratings on auto-components maker Uno Minda following its March-quarter results, highlighting robust growth visibility from premiumisation, electric-vehicle adoption and expansion into high-value segments such as ADAS sensors and controllers.
Nomura kept its target price at Rs 1,242, implying a potential upside of roughly 27 percent from the current market price of around Rs 980. The brokerage said fourth-quarter earnings beat consensus estimates and that ongoing investments position the company to tap “significant potential” in emerging segments. At 37.1 times FY27 forecast EPS, Nomura views the valuation as attractive given the growth runway.
Goldman Sachs maintained a target price of Rs 1,260—around 28 percent upside—calling the quarter “in line” with revenue and EBITDA marginally ahead of its expectations. Management indicated the 80-basis-point drag on fourth-quarter margins from greenfield start-up costs should begin to ease from the first quarter of FY26, with profitability picking up from the second to third quarters. Goldman expects modest margin expansion on 20 percent topline growth in FY26.
Both brokerages agree Uno Minda remains a direct beneficiary of industry tailwinds such as premiumisation and EV penetration, with execution in newer verticals likely to sustain momentum.
| Brokerage | Rating | Target price | Implied upside vs CMP |
|---|---|---|---|
| Nomura | Buy | Rs 1,242 | about 27 percent |
| Goldman Sachs | Buy | Rs 1,260 | about 28 percent |
Disclaimer: This news report is for information only and does not constitute investment advice.
