Lumax Industries Ltd

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

Pros:
Company has good consistent profit growth of 63.72% over 5 years
Company has been maintaining a healthy dividend payout of 31.29%
Cons:
The company has delivered a poor growth of 10.78% over past five years.
Earnings include an other income of Rs.62.43 Cr.

Peer Comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
304 295 385 340 380 371 559 482 518 432 433 402
279 270 359 316 349 338 513 441 477 391 402 364
Operating Profit 26 26 26 25 30 33 46 41 41 41 31 38
OPM % 8% 9% 7% 7% 8% 9% 8% 8% 8% 10% 7% 10%
Other Income 2 2 2 2 5 2 1 0 11 42 9 1
Interest 3 3 2 1 1 1 4 3 4 4 5 5
Depreciation 10 11 10 11 11 12 14 13 14 14 19 15
Profit before tax 14 14 16 14 22 22 30 25 34 65 16 20
Tax % 13% 5% 29% 33% 17% 21% 38% 29% 20% 22% 24% 29%
Net Profit 12 13 11 9 18 17 19 17 27 51 12 14
EPS in Rs 12.97 14.12 11.72 9.94 19.47 18.46 20.01 18.57 29.20 54.13 12.99 14.91
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
520 521 632 862 980 1,063 1,110 1,136 1,252 1,271 1,649 1,851 1,785
486 499 588 801 934 1,002 1,059 1,077 1,164 1,170 1,515 1,698 1,634
Operating Profit 34 22 44 61 46 61 51 59 89 101 135 154 151
OPM % 7% 4% 7% 7% 5% 6% 5% 5% 7% 8% 8% 8% 8%
Other Income 12 6 8 -5 4 5 7 6 4 6 9 62 62
Interest 7 9 11 9 12 19 17 14 13 11 8 16 17
Depreciation 19 22 34 24 24 32 37 36 38 41 48 60 62
Profit before tax 20 -4 6 24 14 16 4 14 42 55 88 139 134
Tax % 30% 55% 7% 24% 5% 13% -103% -16% 10% 16% 28% 23%
Net Profit 14 -2 6 18 13 14 8 17 37 46 63 107 104
EPS in Rs 14.45 0.00 5.83 18.25 12.73 13.77 7.64 16.61 39.98 49.33 67.65 114.89 111.23
Dividend Payout % 26% -58% 47% 31% 44% 31% 42% 31% 30% 29% 34% 30%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.52%
5 Years:10.78%
3 Years:13.92%
TTM:-0.36%
Compounded Profit Growth
10 Years:47.65%
5 Years:63.72%
3 Years:28.94%
TTM:45.39%
Return on Equity
10 Years:15.40%
5 Years:20.27%
3 Years:22.81%
Last Year:24.01%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
9 9 9 9 9 9 9 9 9 9 9 9
Reserves 134 131 134 145 151 160 164 171 195 238 284 363
Borrowings 88 129 101 99 181 176 158 159 127 92 104 140
162 194 221 345 380 407 418 450 487 525 795 662
Total Liabilities 393 464 465 599 721 752 749 790 819 865 1,192 1,174
138 221 240 265 351 406 385 396 408 419 518 549
CWIP 44 39 30 33 50 19 34 26 17 20 34 50
Investments 47 4 4 4 5 5 5 5 5 5 5 5
164 200 192 297 315 323 325 363 389 422 635 569
Total Assets 393 464 465 599 721 752 749 790 819 865 1,192 1,174

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
36 40 85 87 67 84 61 59 81 100 140 104
-78 -69 -44 -50 -125 -70 -18 -30 -37 -62 -128 -97
30 28 -41 -13 57 -34 -46 -13 -59 -39 -11 -6
Net Cash Flow -12 -1 0 24 -1 -20 -3 16 -15 -2 1 1

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 11% 2% 7% 16% 9% 10% 6% 9% 16% 20% 26% 26%
Debtor Days 48 44 45 56 49 38 43 46 53 55 70 44
Inventory Turnover 8.96 7.08 9.70 12.68 11.38 10.74 11.99 12.15 11.68 11.52 11.58 9.93