Lux Industries Ltd

About

Lux Industries Limited was incorporated in 1995 and has emerged as one of the largest players in the hosiery business having a market share of 14% of the organised industry. It is the largest mid-segment hosiery enterprise in India. The Company has more than 100 products across 16 brands to address the growing need of customers. Company’s products are available in ~4,50,000 retail points spread across India.[1]

Key Points

High Marketing Spends [1]
Company spends 8% of turnover in brand building.
Have signed stars like Amitabh Bachchan, Varun Dhawan as brand ambassadors.

See full details
  • Market Cap 10,546 Cr.
  • Current Price 3,507
  • High / Low 4,500 / 1,340
  • Stock P/E 37.0
  • Book Value 336
  • Dividend Yield 0.00 %
  • ROCE 36.4 %
  • ROE 31.2 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 39.79% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.52%

Cons

  • Stock is trading at 10.43 times its book value

Peer comparison

Sector: Textiles Industry: Textiles - Composite

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
277 284 386 262 353 304 402 316 381 533 592 415
235 241 326 226 299 250 337 261 308 426 468 327
Operating Profit 42 43 60 36 53 53 65 55 72 107 125 88
OPM % 15% 15% 16% 14% 15% 18% 16% 17% 19% 20% 21% 21%
Other Income 1 0 5 0 3 -1 1 2 2 2 5 4
Interest 6 5 5 3 3 4 4 4 2 2 2 2
Depreciation 3 3 3 3 3 3 4 4 3 4 5 4
Profit before tax 34 35 57 30 49 46 58 49 69 103 123 85
Tax % 38% 31% 34% 34% 15% 27% 30% 24% 26% 26% 25% 24%
Net Profit 21 24 38 20 42 33 41 38 52 76 92 65
EPS in Rs 8.50 9.63 14.90 7.92 16.65 13.23 16.16 14.87 20.49 30.05 36.54 21.55

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
334 521 547 692 871 909 941 958 1,078 1,209 1,664 1,938 1,921
324 498 515 647 801 828 846 838 923 1,028 1,393 1,555 1,529
Operating Profit 10 22 33 45 69 81 94 120 154 180 271 384 392
OPM % 3% 4% 6% 6% 8% 9% 10% 12% 14% 15% 16% 20% 20%
Other Income 3 0 0 0 1 0 0 2 2 9 6 10 13
Interest 5 7 8 11 17 18 12 22 25 24 20 11 8
Depreciation 1 3 4 4 6 -4 4 7 10 11 15 17 16
Profit before tax 7 13 21 30 47 68 79 92 121 155 243 366 380
Tax % 34% 33% 31% 32% 33% 33% 35% 35% 36% 34% 25% 25%
Net Profit 4 8 14 20 31 45 51 60 78 101 181 273 285
EPS in Rs 1.75 3.31 5.59 8.04 12.40 17.88 20.29 23.62 30.84 40.12 71.57 108.25 108.63
Dividend Payout % 24% 14% 8% 6% 5% 7% 7% 6% 7% 9% 18% 0%
Compounded Sales Growth
10 Years: 14%
5 Years: 16%
3 Years: 22%
TTM: 40%
Compounded Profit Growth
10 Years: 42%
5 Years: 40%
3 Years: 52%
TTM: 83%
Stock Price CAGR
10 Years: %
5 Years: 37%
3 Years: 34%
1 Year: 159%
Return on Equity
10 Years: 30%
5 Years: 30%
3 Years: 31%
Last Year: 31%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
5 5 5 5 5 61 61 5 5 5 6 6
Reserves 17 24 37 56 86 127 174 241 313 409 737 1,004
Borrowings 84 131 132 185 238 279 225 291 329 181 220 101
42 88 95 134 104 181 194 150 224 209 266 355
Total Liabilities 148 249 269 381 432 592 599 686 872 803 1,229 1,466
8 21 20 27 32 37 37 114 126 132 157 194
CWIP 7 0 0 18 20 53 72 11 5 0 1 9
Investments 0 0 0 0 0 0 0 1 1 5 39 75
133 227 248 336 380 502 489 560 740 666 1,032 1,187
Total Assets 148 249 269 381 432 592 599 686 872 803 1,229 1,466

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-24 -21 16 -40 -10 -19 81 21 -2 193 163 393
-10 9 -3 -31 -13 -34 -25 -20 -19 -15 -16 -176
22 40 -8 41 34 79 -90 -1 16 -178 -143 -139
Net Cash Flow -12 28 5 -30 11 26 -34 -0 -5 -0 4 78

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 65 61 56 62 80 97 99 105 132 111 96 85
Inventory Days 129 102 109 186 123 144 161 408 303 193 367 267
Days Payable 78 85 91 117 68 74 90 211 191 125 150 159
Cash Conversion Cycle 116 78 74 131 135 167 169 302 244 179 313 194
Working Capital Days 90 76 77 101 107 134 132 156 176 140 168 124
ROCE % 13% 15% 17% 19% 22% 22% 20% 23% 25% 29% 34% 36%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
73.71 73.71 73.71 73.71 69.51 69.51 69.51 69.51 69.51 69.51 74.39 74.39
1.75 1.65 1.57 1.45 4.14 4.35 3.97 3.55 3.40 3.29 4.81 4.10
1.61 1.93 2.18 2.67 3.06 3.84 4.23 4.50 4.54 4.78 6.44 6.57
22.92 22.70 22.53 22.17 23.29 22.30 22.29 22.44 22.55 22.42 14.36 14.94

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