Lumax Inds spurts after Q4 PAT climbs 49% YoY to Rs 34 cr

Lumax Industries surged 14.92% to Rs 1035 after the company's consolidated net profit rose 49.74% to Rs 33.99 crore on 8.92% rise in net sales to Rs 549.37 crore in Q4 March 2022 over Q4 March 2021.

On a consolidated basis, profit before tax, exceptional items & share of profit/(loss) of associate fell 7.9% year-on-year to Rs 39.50 crore in Q4 March 2022.

EBITDA fell 7% to Rs 61 crore during the period under review. EBITDA margin stood at 11.1% in Q4 March 2022 lower than 13% in Q4 March 2021.

Total expenses rose 9.42% to Rs 498.71 crore. Cost of material consumed rose 2.50% to Rs 308.26 crore while employee benefits expenses fell 6.71% to Rs 59.61 crore.

For the full year, net profit surged 197.13% to Rs 53.93 crore on 22.81% increase in net sales to Rs 1751.31 crore in the year ended March 2022 over the year ended March 2021.

For FY22, the share of LED lighting stands at 33% of total revenues & of conventional lighting at 67%. The product mix as a percentage of total revenue stood at 64% for front lighting, 25% for rear lighting & 11% for others. The segment mix as a percentage of total revenues stood at 65% for passenger vehicles, 28% for two wheelers & 7% for commercial vehicles.

Deepak Jain, chairman & managing director, Lumax Industries, said: "The year gone by was a challenging year for the automotive sector with multiple challenges faced due to impact of Covid-19 and short supply of semi-conductors during the latter half of the year. However, we were able to withstand all these challenges and register a growth of 23% for FY 2122. We have been constantly working on innovating newer products across our product basket and are optimistic of adding new customers and gain wallet share among the existing customers."

During the quarter, the company commenced the commercial production of automotive electronic components at its new manufacturing plant situated at Bawal, Haryana on 12 January 2022. The company has also started commercial production at its New Sanand plant situated at Gujarat on 29 March 2022.

Lumax Industries, a flagship company of D.K. Jain Group, is an experienced player in the automotive lighting industry. It supplies to OEMs including Hero MotoCorp, HMSI, Honda Cars, Mahindra & Mahindra, Maruti Suzuki, MG Motors, Tata Motors, TVS and others.

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