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Lumax Auto Technologies Ltd announces Q3 & 9MFY19 Consolidated Results

Posted On: 2019-02-10 12:43:35

Lumax Auto Technologies Ltd., a leading full-service provider in Automotive Components Industry, announced its unaudited Financial Results for the Quarter and Nine Month ended December 31st, 2018. The Financial Results has been prepared as per Ind-AS.

9M FY19 Consolidated Performance

- Revenue (Net of taxes) up by 31% YoY to Rs. 1,021 Cr
- EBITDA grew by 37% YoY to Rs. 113 Cr; Margin at 11.1%
- PBT (before exceptional items) grew by 44% YoY to Rs. 90 Cr; Margin at 8.8%
- PAT (after MI) grew by 51% YoY to Rs. 54 Cr; Margin at 5.3%

- The consolidated revenue stood at Rs. 1,021 Cr for 9M FY19 as against Rs. 780 Cr in 9M FY18 up by 31% YOY led by strong volume growth from the OEM's and supported by growth in aftermarket.

- EBITDA margin for Q3 FY19 has increased by 60 basis points to 11.3% against 10.7% in last year, largely on account of better operating efficiencies, implementation of bill to ship concept by Bajaj Auto and improved performance of the JV's / aftermarket.

- EBITDA margin for 9MFY19 stands at 11.1% as against 10.6% in 9MFY18

- The Profit after Tax and Minority Interest stood at Rs. 54 Cr in 9M FY19 as against 36 Cr in 9M FY18.

- EPS stands at Rs. 7.87 per share for 9M FY19 as compared to Rs. 5.21 in 9M FY18.

During the quarter, the Company's Board of Directors has approved the merger of Lumax DK Auto Industries Ltd., a wholly owned subsidiary Company with your Company. On approval of the scheme by the Jurisdictional Hon'ble Company Law Tribunal, it will be effective from April 1, 2018.

Commenting on the results Mr. Anmol Jain, MD, Lumax Auto Technologies said "All the major OEM's have reported a mixed growth due to multiple concerns like mismatch of festive season, variation in fuel price, new insurance norms, tighter liquidity, higher interest cost, moderate economic activity etc. leading to passive sentiments among the consumers. There were price hikes as well as discounts strategy during the festive seasons but unable to make greater impact on the end customer behavior.

Despite soft performance by the industry, we are delighted to report a healthy growth of 31% YoY basis for the 9MFY19 on back of continued progress in every quarter. Our operational efficiencies have been enhanced over the past few quarters led by multiple cost control programmes. Our diverse product mix, strong brand recall and long-lasting relationship with our customer has been our forte behind our success. We foresee our team will continue to outperform industry in coming quarters."

Shares of LUMAX AUTO TECHNOLOGIES LTD. was last trading in BSE at Rs.141.35 as compared to the previous close of Rs. 144.7. The total number of shares traded during the day was 182 in over 13 trades.

The stock hit an intraday high of Rs. 143.7 and intraday low of 141.35. The net turnover during the day was Rs. 25831.


Source: Equity Bulls

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