Auto components maker Uno Minda is aiming an over 25 per cent growth in its aftermarket business in the next 4-5 years as it looks to aggressively tap the segment, a top company official said.
In the quarter ended June 2022, its aftermarket business, also called the B2C segment, accounted for 9 per cent at Rs 223 crore in the overall consolidated revenue of Rs 2,555 crore.
Last week, Uno Minda announced its plans to invest Rs 300-crore in expanding its manufacturing capacity of four-wheeler alloy wheels and 4W automotive switches, to cater to the rising demand, along with setting up a wholly-owned subsidiary and an office in Dubai to enhance its aftermarket business in the Middle-East and Africa region.
The companys aftermarket division currently distributes 12 major product categories and has a distribution network of 8,000 business partners, over 12,000 retailers and 6,000 plus mechanics, according to the companys website.
We are going very aggressive on our aftermarket business, which is about 10-11 per cent of the total revenue. We are very optimistic about this business in addition to our other OEM businesses, Sunil Bohra, Executive Director and Group CFO, Uno Minda told
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