External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Lumax Industries (Lumax Inds) reported a stellar set of results which was ahead of our estimates.</li><li>The revenue for the quarter stood at Rs 549 Cr (our estimate – Rs 496 Cr), reporting a 9% YoY growth</li><li>We maintain a BUY rating on the stock with a revised target price of Rs 1,450/share (Rs 1,350 earlier) valuing it at 13x of FY24E P/E, implying an upside of 25% from the CMP.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Lumax Industries (Lumax Inds) reported a stellar set of results which was ahead of our estimates.The revenue for the quarter stood at Rs 549 Cr (our estimate – Rs 496 Cr), reporting a 9% YoY growthWe maintain a BUY rating on the stock with a revised target price of Rs 1,450/share (Rs 1,350 earlier) valuing it at 13x of FY24E P/E, implying an upside of 25% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries: Strong Beat on Estimates; Long-Term Outlook Positive

<ul><li>Lumax Industries (Lumax Inds) reported a weak set of results in Q3FY22 which stood below our estimates</li><li>It reported revenue for the quarter at Rs 435 Cr (our estimate – Rs 467 Cr), registering a de-growth of 4% QoQ</li><li>We retain our BUY rating on the stock with a revised target price of Rs 1,350/share (earlier Rs 1,600/share), implying an upside of 26% from the CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Lumax Industries (Lumax Inds) reported a weak set of results in Q3FY22 which stood below our estimatesIt reported revenue for the quarter at Rs 435 Cr (our estimate – Rs 467 Cr), registering a de-growth of 4% QoQWe retain our BUY rating on the stock with a revised target price of Rs 1,350/share (earlier Rs 1,600/share), implying an upside of 26% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries: Near-Term Headwinds Persist; Long-Term Outlook Intact

<ul><li>Lumax Industries Ltd (LIL) is one of the leading players in the domestic automotive lighting industry </li><li>With growth momentum improving, we believe LIL’s product mix will also improve and thereby improve the company’s overall margins.</li><li>We maintain a BUY rating on the stock with a target price of Rs 1,635/share.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Lumax Industries Ltd (LIL) is one of the leading players in the domestic automotive lighting industry With growth momentum improving, we believe LIL’s product mix will also improve and thereby improve the company’s overall margins.We maintain a BUY rating on the stock with a target price of Rs 1,635/share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

Edelweiss Broking Limited

Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India. The company is a subsidiary of Edelweiss Group. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<p>Good quarter with long term growth outlook intact</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Good quarter with long term growth outlook intactContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries Ltd. | Q2FY22 Result Update

<ul><li>Although revenue came in ahead of our estimates, EBITDA and PAT were lower primarily on account of steep increase in raw material prices.</li><li>The expectations of an improved demand scenario from H2FY21 is encouraging for the company</li><li>We maintain a BUY rating on the stock with a target price of Rs 1,600 valuing it at 16x of FY23E P/E, implying an upside of 12% from CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Although revenue came in ahead of our estimates, EBITDA and PAT were lower primarily on account of steep increase in raw material prices.The expectations of an improved demand scenario from H2FY21 is encouraging for the companyWe maintain a BUY rating on the stock with a target price of Rs 1,600 valuing it at 16x of FY23E P/E, implying an upside of 12% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries: Near-Term Headwinds Persist But Long-Term Outlook Intact

India

Lumax Industries Limited manufactures automobile lighting systems and solutions. The Group's products include stellar quality head lamps and tail lamps, side indicators, front combination lamps, blinkers, sundry lamps and auxiliary lamps.

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Lumax Industries (LUMX IN)

Lumax Industries: Strong Beat on Estimates; Long-Term Outlook Positive

We maintain a BUY rating on the stock with a revised target price of Rs 1,450/share (Rs 1,350 earlier) valuing it at 13x of FY24E P/E, implying an...

Axis Direct

Lumax Industries: Near-Term Headwinds Persist; Long-Term Outlook Intact

We retain our BUY rating on the stock with a revised target price of Rs 1,350/share (earlier Rs 1,600/share), implying an upside of 26% from the CMP.

Axis Direct

Pick of the Week: Lumax Industries

Lumax Industries Ltd (LIL) is one of the leading players in the domestic automotive lighting industry. With growth momentum improving, we believe...

Axis Direct

Lumax Industries Ltd. | Q2FY22 Result Update

Good quarter with long term growth outlook intact

Edelweiss

Lumax Industries: Near-Term Headwinds Persist But Long-Term Outlook Intact

We maintain a BUY rating on the stock with a target price of Rs 1,600 valuing it at 16x of FY23E P/E, implying an upside of 12% from CMP.

Axis Direct

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