Lumax Auto Tech Q2 PAT jumps 53% yoy to Rs23cr; Stock trades lower

The company reported a 42% yoy increase in revenue at Rs403cr in the quarter ended September 30, 2021.

November 12, 2021 10:51 IST | India Infoline News Service
Lumax Industries
Lumax Auto Technologies Ltd., on Thursday reported 42% increase in revenue at Rs403cr in the quarter ended September 30, 2021 from Rs284cr in the same quarter of last fiscal. During the first half of the current fiscal company’s revenue increased to Rs663cr from Rs355cr in the first half of the last fiscal.

EBITDA increased 44% yoy from Rs33cr in Q2FY21 to Rs48cr in Q2FY22. For H1FY22 EBITDA was at Rs66cr compared to Rs25cr in H1FY21. The company reported Profit After Tax (PAT) (after MI) at Rs23cr in Q2FY22, a rise of 53% yoy from Rs15cr in Q2FY21. PAT jumped to Rs27cr in H1FY22 from Rs3cr in H1FY21. EPS was at Rs3.43 in Q2FY22 compared to Rs2.25 in Q2FY21. During H1FY22 EPS was at Rs3.93 compared to Rs0.44cr in H1FY21.

At around 10.55 am, Lumax Auto Technologies Ltd was trading at Rs145 per piece down by Rs2.1 or 1.43% from its previous closing of Rs147.10 per piece on the BSE.

Operational Highlights — H1FY22: 
  • Integrated Plastic Modules contributed 27% to overall Revenues followed by Chassis at 19%, Aftermarket at 18%, Gear Shifter at 13%, Lighting products at 12%, Emission at 6% and Others at 5%
  • 2/3‐Wheelers contributed 47% to overall Revenues, Passenger Car at 20%, After Market contributed 18% & CV’s at 9%
Business Update: 
  • On July 2, 2021, the Company signed a Joint Venture agreement with Alps Alpine Co. Limited, Japan to establish a joint venture company for the manufacturing and sale of electric devices and components including software related to automotive industry. The Joint Venture company was incorporated on Sep 21, 2021 by the name "Lumax Alps Alpine India Private Limited".
  • During the quarter, the subsidiary Company, Lumax Mannoh Allied Technologies Limited (LMAT) started export of “Made in India” Automatic Gear Shifters on global platform.
“We have experienced green shoots June onwards, our sales have significantly improved despite supply chain disruptions in the industry. Our Q2FY22 performance was at a historic high single quarter sales. Against the backdrop of the continuing challenges faced by the automotive industry, we continue our focus on technology and work hand in hand with our partners to cater innovative new‐age products to the Indian market. We anticipate improvement in sales in the coming months, however, it is imperative to bring optimisation and efficiencies in production, operations, cost.,” Anmol Jain, MD, Lumax Auto Technologies, said.

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