Lumax Industries Q4 PAT rises 39% to Rs23cr in Q4FY21; Stock dips ~2%

Q4FY21 Revenue at Rs504cr, up by 30% yoy. EBITDA margin (excluding one-time impact of subsidy income of Rs12cr) at 10.6% for Q4FY21. Final Dividend declared at Rs7 per equity share.

Jun 14, 2021 11:06 IST India Infoline News Service

Lumax Industries
Automotive lighting and illumination company, Lumax Industries Limited on Saturday announced its audited financial results for the year ended March 31, 2021.

The company’s revenue stood at Rs504cr for Q4FY21 as against Rs387cr in Q4FY20 up by 30%. For FY21, revenue stood at Rs1,426cr as against Rs1,602cr in FY20 down by 11%, mainly due to nationwide lockdown in Q1FY21.

Excluding Mould sales, the revenue for Q4FY21 stood at Rs490cr as compared to Rs334cr in Q4FY20, up by 47% as against industry growth of 27%. The revenue for FY21 stood at Rs1,375cr for FY21 as compared to Rs1,471cr in FY20, down by 7% against industry de-growth of 14%.

The company reported consolidated EBITDA of Rs65cr in Q4FY21 as against Rs38cr for Q4FY20, up by 73%. The growth was higher due to one-time impact of Subsidy income amounting to Rs12cr in the Q4FY21 due to sanctioning of scheme from the government for a period of ten years effective from July 19.

For FY21, the company reported consolidated EBITDA of Rs125cr in FY21 against Rs165cr for FY20, down by 25%. EBITDA margin for Q4FY21 excluding subsidy income stood at 10.6% as against 9.7% for Q4FY20, up by 90 bps. The margin for FY21 stood at 8.7% as against 10.3% for FY20.

Profit after Tax & share of associate stood at Rs23cr in Q4FY21 as against Rs16cr in Q4FY20, up by 39%. For FY21, the same stood at Rs18cr as against Rs72cr in FY20.

For FY21, the Board of Directors have recommended a final dividend of Rs. 7 per equity share.

“Auto industry faced headwinds during the year. Leading OEMs had to put their operations on halt multiple times during the year. The situation started seeming better from the start of calendar year 2021 and by the time it reached starting of financial year 2021-22, within 3 months new challenges emerged owing to lockdown. In this challenging time, Lumax managed to maintain its margins and our revenue was down only by 11% on full year basis. FY21 was all about sustaining the business and profitability and we managed to strengthen our business,” Deepak Jain, Chairman & Managing Director, Lumax Industries Limited, said.

“Today we are preferred suppliers to Indian OEMs and we have achieved this level of expertise in terms of technology and a sharp focus on innovation and product development. We stand competitive in the global market. At Lumax, we shall continue to witness improved demand across our product portfolio,” Jain added.

At around 11.47 AM, Lumax Industries Ltd was trading at Rs1,629.45 per piece down by Rs29.95 or 1.8% from its previous closing of Rs1,659.40 per piece on the BSE.

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