Lumax Industries Ltd

Lumax Industries Ltd

₹ 2,397 1.00%
04 Mar 4:01 p.m.
About

Lumax Industries Limited is the flagship company of the DK Jain Group. It was founded as a trading company in 1945 and today it has evolved as market leader of automobile lighting in the Indian automotive industry. In 1984, company entered into a technical collaboration with Stanley Electric Co. Ltd., Japan (SECL), which currently holds around 37.5% equity stake in the company. Other 37.5% is held by Indian promoters (D.K. Jain and family). Company has 29 manufacturing facilities across 7 states in India. [1] [2]

Key Points

Product Portfolio
The Co offers a wide array of products comprising automotive lighting systems such as complete Lighting module – Front & Rear, LED Lamps, sundry, auxiliary lamps. [1]

  • Market Cap 2,240 Cr.
  • Current Price 2,397
  • High / Low 2,843 / 1,640
  • Stock P/E 28.5
  • Book Value 521
  • Dividend Yield 1.12 %
  • ROCE 16.3 %
  • ROE 16.2 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 36.6%

Cons

  • Stock is trading at 4.59 times its book value
  • The company has delivered a poor sales growth of 7.06% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
446 504 314 453 435 549 512 620 579 608 618 644 632
398 455 308 416 401 492 469 560 523 560 567 589 574
Operating Profit 48 50 6 37 34 57 43 60 56 48 51 54 58
OPM % 11% 10% 2% 8% 8% 10% 8% 10% 10% 8% 8% 8% 9%
2 16 2 4 -7 -3 4 4 1 -0 3 2 28
Interest 7 6 6 6 5 5 6 7 8 9 10 11 13
Depreciation 17 17 15 16 15 17 19 20 20 21 21 21 23
Profit before tax 26 43 -13 20 7 33 23 37 30 18 23 24 50
Tax % 47% 46% 28% 28% 31% 20% 34% 33% 28% 50% 35% 34% 27%
14 23 -9 14 5 26 15 25 22 9 15 16 36
EPS in Rs 14.61 24.84 -9.96 14.96 4.99 27.92 16.28 26.33 23.29 9.67 15.89 17.11 38.91
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
980 1,063 1,110 1,136 1,252 1,271 1,649 1,851 1,602 1,426 1,751 2,320 2,502
934 1,002 1,059 1,077 1,164 1,170 1,515 1,698 1,443 1,326 1,616 2,112 2,291
Operating Profit 46 61 51 59 89 101 135 154 158 100 135 208 211
OPM % 5% 6% 5% 5% 7% 8% 8% 8% 10% 7% 8% 9% 8%
4 5 7 6 4 6 9 62 10 25 -4 9 32
Interest 12 19 17 14 13 11 8 16 22 29 22 30 42
Depreciation 24 32 37 36 38 41 48 60 64 65 64 80 87
Profit before tax 14 16 4 14 42 55 88 139 82 32 46 107 115
Tax % 5% 13% -103% -16% 10% 16% 28% 23% 12% 46% 23% 34%
13 14 8 17 37 46 63 107 72 17 35 71 76
EPS in Rs 13.70 14.54 8.24 17.73 39.98 49.34 67.65 114.89 77.36 18.23 37.90 75.57 81.58
Dividend Payout % 44% 31% 42% 31% 30% 29% 34% 30% 30% 38% 36% 36%
Compounded Sales Growth
10 Years: 8%
5 Years: 7%
3 Years: 13%
TTM: 11%
Compounded Profit Growth
10 Years: 18%
5 Years: 3%
3 Years: 0%
TTM: -16%
Stock Price CAGR
10 Years: 22%
5 Years: 7%
3 Years: 14%
1 Year: 43%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 11%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 9 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 151 160 164 171 195 238 284 363 375 388 413 472 478
181 176 158 159 127 92 104 140 347 338 401 431 597
372 392 398 424 463 472 737 602 467 540 629 820 868
Total Liabilities 714 737 729 764 794 812 1,134 1,114 1,198 1,276 1,452 1,732 1,953
351 406 385 396 408 419 518 549 653 627 711 743 717
CWIP 50 19 34 26 17 20 34 50 32 47 48 43 179
Investments 5 5 5 5 5 5 5 5 5 5 8 16 16
308 308 306 337 365 368 578 510 508 596 685 930 1,041
Total Assets 714 737 729 764 794 812 1,134 1,114 1,198 1,276 1,452 1,732 1,953

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
67 84 61 59 81 100 140 104 103 76 108 111
-125 -70 -18 -30 -37 -62 -128 -97 -194 -31 -129 -93
57 -34 -46 -13 -59 -39 -11 -6 96 -51 34 -26
Net Cash Flow -1 -20 -3 16 -15 -2 1 1 6 -5 13 -9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 49 38 43 46 53 55 70 44 39 55 48 48
Inventory Days 48 55 35 51 45 58 63 63 75 94 91 96
Days Payable 147 148 130 136 135 163 202 117 131 159 163 142
Cash Conversion Cycle -50 -55 -52 -40 -36 -51 -68 -11 -17 -9 -24 2
Working Capital Days -36 -44 -43 -40 -34 -31 -35 -22 -17 2 4 13
ROCE % 9% 10% 6% 9% 16% 20% 26% 26% 17% 8% 11% 16%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
0.64% 0.61% 0.53% 0.47% 0.25% 0.24% 0.47% 0.65% 0.84% 1.12% 1.15% 1.12%
1.12% 0.97% 0.36% 0.37% 0.36% 0.30% 0.56% 0.57% 0.62% 1.03% 1.27% 1.42%
23.24% 23.42% 24.11% 24.16% 24.39% 24.46% 23.95% 23.79% 23.54% 22.84% 22.57% 22.45%
No. of Shareholders 18,77419,64620,38420,73322,42421,54219,71220,00120,08919,41019,74219,395

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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