Lumax Industries Ltd

About

Lumax Industries is engaged in the business of manufacture of various types of automotive lighting equipment.

  • Market Cap 1,166 Cr.
  • Current Price 1,247
  • High / Low 1,696 / 678
  • Stock P/E 38.7
  • Book Value 411
  • Dividend Yield 1.88 %
  • ROCE 16.8 %
  • ROE 19.1 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 31.62%
  • Debtor days have improved from 51.16 to 39.47 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor growth of 7.11% over past five years.
  • Tax rate seems low
  • Contingent liabilities of Rs.1327.69 Cr.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
380 371 559 482 505 432 433 402 429 383 387 78
349 338 513 441 464 391 402 364 386 340 354 113
Operating Profit 30 33 46 41 41 41 31 38 43 43 34 -35
OPM % 8% 9% 8% 8% 8% 10% 7% 10% 10% 11% 9% -45%
Other Income 5 2 1 0 11 42 9 1 3 1 4 3
Interest 1 1 4 3 4 4 5 5 5 6 6 8
Depreciation 11 12 14 13 14 14 19 15 16 16 16 14
Profit before tax 22 22 30 25 34 65 16 20 25 22 15 -53
Tax % 17% 21% 38% 29% 20% 22% 24% 29% 25% 26% -53% 47%
Net Profit 18 17 19 17 27 51 12 14 19 16 23 -28
EPS in Rs 19.47 18.45 20.00 18.57 29.21 54.13 12.99 14.90 20.27 17.42 24.75 -30.22
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
521 632 862 980 1,063 1,110 1,136 1,252 1,271 1,649 1,851 1,602 1,278
499 588 801 934 1,002 1,059 1,077 1,164 1,170 1,515 1,698 1,443 1,193
Operating Profit 22 44 61 46 61 51 59 89 101 135 154 158 85
OPM % 4% 7% 7% 5% 6% 5% 5% 7% 8% 8% 8% 10% 7%
Other Income 6 8 -5 4 5 7 6 4 6 9 62 10 11
Interest 9 11 9 12 19 17 14 13 11 8 16 22 25
Depreciation 22 34 24 24 32 37 36 38 41 48 60 64 62
Profit before tax -4 6 24 14 16 4 14 42 55 88 139 82 9
Tax % 55% 7% 24% 5% 13% -103% -16% 10% 16% 28% 23% 12%
Net Profit -2 6 18 13 14 8 17 37 46 63 107 72 30
EPS in Rs -1.73 6.33 19.22 13.70 14.54 8.24 17.73 39.98 49.34 67.65 114.89 77.36 32.22
Dividend Payout % -58% 47% 31% 44% 31% 42% 31% 30% 29% 34% 30% 30%
Compounded Sales Growth
10 Years:10%
5 Years:7%
3 Years:8%
TTM:-28%
Compounded Profit Growth
10 Years:28%
5 Years:34%
3 Years:16%
TTM:-60%
Stock Price CAGR
10 Years:16%
5 Years:24%
3 Years:-10%
1 Year:-3%
Return on Equity
10 Years:17%
5 Years:21%
3 Years:22%
Last Year:19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
9 9 9 9 9 9 9 9 9 9 9 9
Reserves 131 134 145 151 160 164 171 195 238 284 363 375
Borrowings 129 101 99 181 176 158 159 127 92 104 140 347
185 211 343 372 392 398 424 463 472 737 602 467
Total Liabilities 455 454 597 714 737 729 764 794 812 1,134 1,114 1,198
221 240 265 351 406 385 396 408 419 518 549 653
CWIP 39 30 33 50 19 34 26 17 20 34 50 32
Investments 4 4 4 5 5 5 5 5 5 5 5 5
192 181 295 308 308 306 337 365 368 578 510 508
Total Assets 455 454 597 714 737 729 764 794 812 1,134 1,114 1,198

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
40 85 87 67 84 61 59 81 100 140 104 103
-69 -44 -50 -125 -70 -18 -30 -37 -62 -128 -97 -194
28 -41 -13 57 -34 -46 -13 -59 -39 -11 -6 96
Net Cash Flow -1 0 24 -1 -20 -3 16 -15 -2 1 1 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 2% 7% 16% 9% 10% 6% 9% 16% 20% 26% 26% 17%
Debtor Days 44 45 56 49 38 43 46 53 55 70 44 39
Inventory Turnover 4.96 6.84 9.26 8.44 7.66 9.09 8.94 8.24 7.03 7.17 6.66 4.85

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
73.53 74.65 74.93 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
0.63 0.74 0.79 0.85 0.78 0.72 0.63 0.63 0.72 0.73 0.67 0.64
0.29 0.55 0.56 1.14 1.08 1.23 1.18 1.00 0.90 0.93 1.05 1.00
25.55 24.06 23.72 23.01 23.14 23.05 23.19 23.37 23.38 23.34 23.28 23.36

Documents