1406 Financial

Motilal Oswal has initiated coverage on Uno Minda, setting a target price of ₹1,406. The brokerage believes Uno Minda is positioned to benefit from the shift to electric vehicles and higher-value automotive features. The company plans to diversify its product offerings and has set a goal to grow faster than the automotive industry. Significant capital investment in new manufacturing facilities is planned, with seven projects expected to start by FY27. The brokerage forecasts a 19% annual growth rate for revenue and 23% for profit after tax from FY26 to FY28. Investors should monitor project execution timelines and the transition pace to electric vehicles in India.

Motilal Oswal has initiated coverage on Uno Minda, setting a target price of ₹1,406. The brokerage believes Uno Minda is positioned to benefit from the shift to electric vehicles and higher-value automotive features. The company plans to diversify its product offerings and has set a goal to grow faster than the automotive industry. Significant capital investment in new manufacturing facilities is planned, with seven projects expected to start by FY27. The brokerage forecasts a 19% annual growth rate for revenue and 23% for profit after tax from FY26 to FY28. Investors should monitor project execution timelines and the transition pace to electric vehicles in India.