Uno Minda, a diversified auto component maker, has budgeted roughly Rs 400 crore in capital expenditure (capex) for the next fiscal year, owing to increased demand from car manufacturers.
According to a top Uno Minda official, at least four additional factories are slated to open next year, serving both two-wheeler and four-wheeler enterprises. The group is expected to complete FY22 with a capex investment of 700 crore, mostly due to spending on the new facility.
Sunil Bohra, Group Chief Finance Officer and Group Chief Procurement, said, “For this year, we announced growth capex, which is green field expansion of four new plants. We are putting up a lighting plant for four-wheelers in Gujarat, a new plant for moulding business in Bengaluru, expansion of alloy wheels capacity and expansion of two-wheeler alloy wheel capacity from 4 million wheels to 6 million wheels a year.”
