UNO Minda Limited — Important, 14-07-2025: General Updates

Uno Minda addressed market speculation about a joint venture with Mahindra to produce rare earth magnets. The company confirmed it actively explores localization opportunities to lessen import dependency. However, Uno Minda stated that discussing specific proposals for rare earth magnets is premature. No such proposal has been put before the Board, indicating that this remains an exploratory business development and is not a finalized plan at this stage.