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.

Read More
  • Market Cap 11,461 Cr.
  • Current Price 3,811
  • High / Low 4,644 / 1,505
  • Stock P/E 34.6
  • Book Value 389
  • Dividend Yield 0.31 %
  • ROCE 35.6 %
  • ROE 31.0 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.19%

Cons

  • Stock is trading at 9.79 times its book value

Peer comparison

Sector: Textiles Industry: Textiles - Composite

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
284 386 263 352 305 402 317 502 538 596 417 627
242 327 228 301 251 337 262 407 431 472 330 490
Operating Profit 42 59 35 52 54 65 55 95 107 124 87 137
OPM % 15% 15% 13% 15% 18% 16% 17% 19% 20% 21% 21% 22%
Other Income 1 5 0 2 -1 1 2 3 2 5 4 4
Interest 5 5 3 3 4 4 4 3 3 2 3 3
Depreciation 3 3 3 3 3 4 4 4 4 5 4 4
Profit before tax 35 57 29 48 46 58 49 90 102 122 84 134
Tax % 31% 35% 35% 16% 27% 28% 24% 26% 26% 25% 24% 25%
Net Profit 24 37 19 41 33 42 37 67 76 91 64 100
EPS in Rs 9.44 14.59 7.44 16.08 13.21 16.58 14.74 26.62 29.91 36.16 21.34 33.40

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,078 1,207 1,668 1,953 2,178
923 1,029 1,398 1,570 1,723
Operating Profit 154 178 269 382 455
OPM % 14% 15% 16% 20% 21%
Other Income 2 9 6 10 15
Interest 25 24 21 13 11
Depreciation 10 11 15 18 18
Profit before tax 121 152 239 362 441
Tax % 36% 35% 26% 26%
Net Profit 78 99 178 271 331
EPS in Rs 30.84 39.12 70.35 107.47 120.81
Dividend Payout % 7% 9% 19% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 22%
TTM: 43%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 52%
TTM: 84%
Stock Price CAGR
10 Years: %
5 Years: 39%
3 Years: 38%
1 Year: 139%
Return on Equity
10 Years: %
5 Years: %
3 Years: 30%
Last Year: 31%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
5 5 6 8 6
Reserves 313 406 734 999 1,164
Borrowings 329 181 237 124 170
224 209 274 363 448
Total Liabilities 872 802 1,250 1,492 1,788
126 132 162 199 218
CWIP 5 0 1 9 16
Investments 1 5 39 75 37
740 664 1,049 1,208 1,516
Total Assets 872 802 1,250 1,492 1,788

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021
-2 190 153 389
-19 -12 -18 -177
16 -178 -130 -133
Net Cash Flow -5 -0 4 79

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 132 111 97 86
Inventory Days 328 200 382 279
Days Payable 207 129 157 164
Cash Conversion Cycle 253 182 322 201
Working Capital Days 176 139 170 125
ROCE % 28% 33% 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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