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Lumax Auto Tech shows positive yearly growth to Rs3.4cr in Q1FY22

The company reported consolidated revenue at Rs260cr in Q1 and EBITDA margin at 7.2%.

August 12, 2021 11:38 IST | India Infoline News Service
Lumax Industries
Lumax Auto Technologies Ltd., a leading full‐service provider in Automotive Components Industry, on Wednesday announced its consolidated un‐audited financial results for the quarter ended June 30, 2021. The company’s revenue stood at Rs260cr for Q1FY22 as against Rs388cr for Q4FY21. The revenue for Q1FY21 stood at Rs71cr.

Profit after Tax & Minority interest reported was Rs3.4cr in Q1FY22 against loss of 12.31cr in Q1FY21 and PAT of 21.02cr in Q4FY21. The company reported EBITDA of Rs18.6cr and EBITDA margin at 7.2%, the company said in a filing.

“Q1FY22 operations adversely affected; down by 33% from Q4FY21 due to resurgence of COVID‐19,” the company said.

Operational Highlights — Q1FY22: 
  • Integrated Plastic Modules contributed 26% to overall Revenues followed by Chassis at 21%, Gear Shifter at 14%, Lighting products at 13%, Aftermarket at 13%, Emission at 7% and Others at 6%
  • 2/3‐Wheelers contributed 48% to overall Revenues, Passenger Car at 21%, After Market contributed 13%, & CVs 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.
  • Business Programmes worth Rs120cr (over a period of 2 years) awarded during the quarter.
“Sudden spike in COVID cases once again led to regional lockdowns during the quarter and production of most of the OEMs and aftermarket division was adversely affected. This wasthe key reason for degrowth by 33% in Q1FY22 revenue from QIVFY21.   We are cautiously optimistic for the upcoming quarter with expectation of revival in demand. The monsoon has started off well across the nation and economic activities are opening up gradually. We are closely observing the challenges industry is facing currently and putting extra efforts to keep the operations running with least obstacles,” Anmol Jain, MD, Lumax Auto Technologies, said.

“The technology landscape is changing rapidly in the automotive industry. We see evolution and adoption of information and communication related technologies at an unprecedented scale. We ensure that our partners are experts in their field of technology with a history of innovation and product leadership. We aspire to drive growth through this transformation in a sustainable manner,” he added.

At around 11.40 am, Lumax Auto Technologies Ltd was trading at Rs157.30 per piece up by Rs0.7 or 0.45% from its previous closing of Rs156.60 per piece on the BSE.

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