Lumax Auto Q4 PAT nearly halves to Rs6cr; stock trades in green

The Q4 PAT was down by a whopping 43% from Rs11cr in the corresponding period of the previous year.

Jun 18, 2020 11:06 IST India Infoline News Service

Lumax Industries
Lumax Auto's consolidated net profit nearly halved to Rs6cr in the March 2020 (Q4FY20) quarter. The Q4 PAT was down by a whopping 43% from Rs11cr in the corresponding period of the previous year. Meanwhile, revenue declined by 10% to Rs301cr in the quarter from Rs273cr in Q4FY19.

EBITDA decreased by 26% yoy to Rs28cr in the period versus Rs21cr in Q4FY19.

Here are some key highlights of the FY20 result:

Revenue stood at Rs1,141cr for FY20 as against Rs1,187cr in FY19, down by 4% only against industry downfall of 15%. This is due to almost flat growth in Bajaj Auto Ltd. and Aftermarket division which contributes about 55% of total revenue. The revenue was affected by countrywide lockdown due to Covid-19.

In FY20, EBITDA margin stands at 9.5% as against 10.4% in FY19. The contraction in the margin is on account of lower profitability in Lumax Cornaglia Auto Technologies Pvt. Ltd. & Lumax Gill Austem Auto Technologies Pvt. Ltd., subsidiaries of the Company.

PAT stood at Rs50cr in FY20 versus Rs53cr of FY19. The Company has opted for reduced tax rates, the impact of which has been taken in Q2 FY20.

EPS stands at Rs7.30 per share for 12M FY20 as against Rs7.81 per share in 12M FY19.

Talking about Covid-19 impact, Lumax said, the pandemic has impacted the normal business operations of the Group by way of interruption in production, supply chain disruption, unavailability of personnel, closure of production facilities etc. during the lock-down period which started from March 23, 2020. However, production and supply of goods have commenced during the month of April and May 2020 on various dates at all the manufacturing locations of the Company. The Company is taking utmost care of its staff and workforce by undertaking various precautionary measures to smoothly manage the operations, which also include work from home facility.

At around 11.50, Lumax stock was trading at Rs73 per piece up by 1% on Sensex.

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