Lumax Auto Technologies (LUMAXTECH) Q4 18/19 earnings summary

Executive summary

• FY19 consolidated revenue reached ₹1,358.43 cr, up 22% YoY; EBITDA rose 25% to ₹145 cr and PAT attributable to owners increased 35% to ₹65.89 cr.

• Growth was supported by lighting, sheet metal and aftermarket, with a broader product portfolio and operating leverage contributing to profitability.

• Priorities include expanding BS-VI products, aftermarket reach and technology collaborations, while pursuing organic growth and evaluating inorganic opportunities.

Financial highlights

• Consolidated revenue from continuing and discontinued operations was ₹1,358.43 cr versus ₹1,111.47 cr in FY18; FY19 continuing-operations revenue was ₹1,186.98 cr.

• Consolidated EBITDA was ₹145 cr versus ₹116 cr in FY18; PAT after minority interest was ₹65.89 cr versus ₹49 cr.

• Consolidated PBT before exceptional items rose 26% to ₹111.20 cr; reported EPS increased 35% to ₹9.67 per ₹2 share.

• Standalone revenue was ₹823.77 cr; PBT before exceptional items was ₹63.46 cr and PAT was ₹45.45 cr, up 56% YoY.

Outlook and guidance

• Urea tanks and oxygen sensors were expected to enter production in Q4 FY20; LOIs had been received from leading OEMs for both products.

• BS-VI product line had launched; further development targets air-intake systems, urea and fuel tanks, CAC ducts, safety products and future electrification and lightweighting needs.

• Growth drivers identified included lighting traction, gear shifters with passenger-vehicle growth, higher AT/AMT penetration, chassis and swing-arm orders, aftermarket expansion, and new emissions products.

• The JOPP JV was intended to develop and manufacture transmission products, with a state-of-the-art R&D centre in India.