External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Equity Bottom-Up

<p>Lumax Industries (Lumax Inds) reported a muted performance in Q1FY22 with lower-thanexpected revenue at Rs 314 Cr, down by 38% QoQ. Q1FY22 performance was impacted due to regional lockdown and chip shortage resulted in lower OEM production and significant erosion on the margins. Manufacturing revenue was down 39% QoQ to Rs 301 Cr. Mould parts revenue was down 10% QoQ to Rs 13 Cr due to delays in launches by OEM and shortage of components. EBIDTA margin came in much below expectations at 2% vs. 9.8% in Q4FY21 owing to higher raw material cost (extraordinary jump in the prices of electronic components), import content and logistics costs. The weak operating performance led to a loss at the PAT level to Rs 10 Cr vs PAT of Rs 23 Cr in Q4FY21.</p><p>We retain a BUY with a target price revised to Rs 1616 (earlier Rs 1741), implying an upside of 10% from CMP.</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>

Lumax Industries (Lumax Inds) reported a muted performance in Q1FY22 with lower-thanexpected revenue at Rs 314 Cr, down by 38% QoQ. Q1FY22 performance was impacted due to regional lockdown and chip shortage resulted in lower OEM production and significant erosion on the margins. Manufacturing revenue was down 39% QoQ to Rs 301 Cr. Mould parts revenue was down 10% QoQ to Rs 13 Cr due to delays in launches by OEM and shortage of components. EBIDTA margin came in much below expectations at 2% vs. 9.8% in Q4FY21 owing to higher raw material cost (extraordinary jump in the prices of electronic components), import content and logistics costs. The weak operating performance led to a loss at the PAT level to Rs 10 Cr vs PAT of Rs 23 Cr in Q4FY21.We retain a BUY with a target price revised to Rs 1616 (earlier Rs 1741), implying an upside of 10% 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 Pressure Exists But Long-Term Positive View Intact!

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

Edelweiss

<p>Lacklustre show, but strong guidance instils confidence</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>

Lacklustre show, but strong guidance instils confidenceContent 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. Rs Q1FY22 Result Update

<p>We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of 11%.</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>

We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of 11%.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.

<p>Lumax Industries (LUMAX) reported healthy top line growth of 30% YoY/10% QoQ to INR504cr in Q4FY21, while EBITDA grew 48% YoY/4% QoQ to INR50cr.</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>

Lumax Industries (LUMAX) reported healthy top line growth of 30% YoY/10% QoQ to INR504cr in Q4FY21, while EBITDA grew 48% YoY/4% QoQ to INR50cr.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 Ltd - Result Update Q4FY21

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: Near-Term Pressure Exists But Long-Term Positive View Intact!

We retain a BUY with a target price revised to Rs 1616 (earlier Rs 1741), implying an upside of 10% from CMP. Lumax Industries (Lumax Inds)...

Axis Direct

Lumax Industries. Ltd. Rs Q1FY22 Result Update

Lacklustre show, but strong guidance instils confidence

Edelweiss

Result Update:Lumax Industries

We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of...

Axis Direct

Lumax Industries Ltd - Result Update Q4FY21

Lumax Industries (LUMAX) reported healthy top line growth of 30% YoY/10% QoQ to INR504cr in Q4FY21, while EBITDA grew 48% YoY/4% QoQ to INR50cr.

Edelweiss

Result Update:Lumax Industries

We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of...

Axis Direct

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