Lumax Industries Ltd

About [ edit ]

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. # #

Key Points [ edit ]
  • Market Cap 1,418 Cr.
  • Current Price 1,517
  • High / Low 1,820 / 1,188
  • Stock P/E 78.1
  • Book Value 493
  • Dividend Yield 0.46 %
  • ROCE 7.73 %
  • ROE 4.00 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 32.72%

Cons

  • Stock is trading at 3.08 times its book value
  • The company has delivered a poor sales growth of 2.63% over past five years.
  • Company has a low return on equity of 12.83% for last 3 years.
  • Contingent liabilities of Rs.1327.69 Cr.
  • Debtor days have increased from 46.14 to 55.37 days.
Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
482 505 432 433 402 429 383 387 78 397 446 504
441 464 391 402 364 386 340 354 118 362 398 456
Operating Profit 41 41 41 31 38 43 43 34 -40 35 48 49
OPM % 8% 8% 10% 7% 10% 10% 11% 9% -51% 9% 11% 10%
Other Income 4 3 39 11 4 5 4 6 3 5 11 16
Interest 3 4 4 5 5 5 6 6 8 8 7 6
Depreciation 13 14 14 19 15 16 16 16 14 17 17 17
Profit before tax 28 26 62 18 23 26 25 17 -59 15 35 42
Tax % 28% 20% 22% 23% 27% 24% 25% 6% 46% 50% 44% 46%
Net Profit 20 21 49 14 17 20 19 16 -32 7 20 23
EPS in Rs 21.44 22.33 52.02 15.24 17.72 21.48 20.22 17.50 -33.81 7.73 21.20 24.28

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,252 1,271 1,649 1,851 1,602 1,426
1,164 1,170 1,515 1,698 1,443 1,327
Operating Profit 89 101 135 154 158 99
OPM % 7% 8% 8% 8% 10% 7%
Other Income 4 17 19 57 19 27
Interest 13 11 8 16 22 28
Depreciation 38 41 48 60 64 65
Profit before tax 41 65 98 134 92 33
Tax % 10% 16% 27% 23% 22% 45%
Net Profit 52 54 71 104 72 18
EPS in Rs 55.66 58.16 76.34 111.03 76.92 19.42
Dividend Payout % 22% 25% 30% 32% 31% 36%
Compounded Sales Growth
10 Years:%
5 Years:3%
3 Years:-5%
TTM:-11%
Compounded Profit Growth
10 Years:%
5 Years:-19%
3 Years:-37%
TTM:-75%
Stock Price CAGR
10 Years:17%
5 Years:16%
3 Years:-11%
1 Year:22%
Return on Equity
10 Years:%
5 Years:15%
3 Years:13%
Last Year:4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
9 9 9 9 9 9
Reserves 259 300 353 426 437 451
Borrowings 127 92 104 140 347 338
463 478 751 615 490 564
Total Liabilities 859 880 1,217 1,190 1,283 1,362
408 419 518 549 653 627
CWIP 17 20 34 50 32 47
Investments 69 79 88 81 90 92
365 362 577 510 508 596
Total Assets 859 880 1,217 1,190 1,283 1,362

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
81 100 140 104 103 76
-37 -62 -128 -97 -194 -31
-59 -39 -11 -6 96 -51
Net Cash Flow -15 -2 1 1 6 -5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 19% 24% 22% 17% 8%
Debtor Days 53 55 70 44 39 55
Inventory Turnover 7.82 8.00 6.82 5.40 4.28

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
0.85 0.78 0.72 0.63 0.63 0.72 0.73 0.67 0.64 0.64 0.64 0.61
1.14 1.08 1.23 1.18 1.00 0.90 0.93 1.05 1.00 0.81 1.12 0.97
23.01 23.14 23.05 23.19 23.37 23.38 23.34 23.28 23.36 23.55 23.24 23.42

Documents