Independent Research Analyst

Mamta Verma

DC India Research

DC India Research LLP (DCIR) is based out of Mumbai, India.

We specialize in providing customized, independent research across listed and unlisted companies in India across equities and credit including sectoral research. Our customers include India focussed PE funds, special situation funds, domestic AMCs, Wealth Advisory& PMS firms, Rating Agencies & Investment Advisors. 

The DCIR board consists of prominent names from the industry as well as CIO’s of Hedge funds.

Equity Bottom-Up

Background – Lumax Industries is a market leader (~35% Mkt sh) in the domestic automotive lighting industry. However consolidated Lumax group (includes SL Lumax, lighting business of Lumax Auto Technologies and Lumax Industries), has combined market share ~50% in the domestic lighting industry. LIL manufacturers head and tail lamps for vehicles across categories like PV, CV and two wheelers. The current opportunity size of this product line in domestic market is close to Rs. 40bn. Over the years…

Background – Lumax Industries is a market leader (~35% Mkt sh) in the domestic automotive lighting industry. However consolidated Lumax group (includes SL Lumax, lighting business of Lumax Auto Technologies and Lumax Industries), has combined market share ~50% in the domestic lighting industry. LIL manufacturers head and tail lamps for vehicles across categories like PV, CV and two wheelers. The current opportunity size of this product line in domestic market is close to Rs. 40bn. Over the years…

Lumax Ind – LED Scale up to Drive Profitability, Healthy BS & Improving RoCE to Support Re-Rating

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 Ind – LED Scale up to Drive Profitability, Healthy BS & Improving RoCE to Support Re-Rating

Background – Lumax Industries is a market leader (~35% Mkt sh) in the domestic automotive lighting industry. However consolidated Lumax group...

DC India Research

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