New Delhi, September 15: Uno Minda has approved manufacturing investments totalling about ₹1,415 crore across four projects in Haryana, Tamil Nadu, Karnataka and Maharashtra, alongside plans to raise up to ₹600 crore through non-convertible debentures and maintain a ₹500 crore revolving commercial paper limit.
The company’s board, at its meeting on September 14, approved detailed project reports for a two-wheeler alloy wheel plant at Kharkhoda in Haryana, a greenfield casting facility at Hosur in Tamil Nadu and a capacity expansion at the Bengaluru plant of subsidiary Uno Minda Kyoraku Limited.
The board also approved the DPR of Toyoda Gosei South India Private Limited (TGSIN) for a new facility at Chhatrapati Sambhajinagar in Maharashtra. TGSIN is a subsidiary of Toyoda Gosei Uno Minda India Pvt Ltd, an associate of Uno Minda.
The largest of the four projects is the proposed TGSIN facility at Chhatrapati Sambhajinagar, involving an estimated investment of about ₹670 crore. The plant will manufacture interior and exterior automotive products, airbags, hoses and body sealing parts.
TGSIN currently has annual capacity of 4.5 lakh units with utilisation of around 90 per cent. The project will add 1.5 lakh units of annual capacity in phases, with start of production targeted for the fourth quarter of FY2029.
Uno Minda has separately approved an estimated ₹510 crore greenfield casting facility at Hosur. The plant will manufacture products for engine, EV and powertrain, structural and general applications, as well as two-wheeler alloy wheels. The company said the land required for the project has already been acquired.
The casting division currently has annual capacity of 13,255 MT and is operating at 100 per cent utilisation. The new project will add 20,557 MT of annual capacity in phases, with start of production planned for the fourth quarter of FY2028.
Existing casting operations at Hosur are also proposed to be consolidated and relocated to the new facility by the first quarter of FY2029.
At Kharkhoda, Uno Minda will invest about ₹155 crore in a two-wheeler alloy wheel plant with annual capacity of 3.3 million wheels. The project includes relocation of 2 million units of existing capacity from Supa in Maharashtra, resulting in an incremental capacity addition of 1.3 million wheels annually.
Uno Minda’s existing two-wheeler alloy wheel business has capacity of 8 million wheels a year and is operating at around 70 per cent utilisation. The additional capacity is planned to be added in phases, with start of production targeted for the fourth quarter of FY2028.
The Kharkhoda plant will be developed on an existing land parcel adjacent to several of Uno Minda’s operational and under-construction facilities.
The board has also cleared an approximately ₹80 crore expansion at the Bengaluru plant of Uno Minda Kyoraku Limited. The facility currently has annual capacity of 3.28 million units and is operating at 91.90 per cent utilisation.
The expansion will add 1.38 million units of annual capacity, with start of production targeted for the first quarter of FY2028.
All four manufacturing projects are proposed to be financed through a combination of term loans and internal accruals.
Separately, Uno Minda’s board approved issuance of listed non-convertible debentures of up to ₹600 crore in one or more tranches through private placement. The debentures are proposed to be listed on either BSE or the National Stock Exchange.
Details including tenure, coupon, payment schedule and security structure will be determined by the company’s NCD Committee.
The board also approved issuance of listed or unlisted commercial papers from time to time within a revolving limit of up to ₹500 crore.
