Lumax Auto Technologies (LUMAXTECH) Q4 20/21 earnings summary

Executive summary

• FY21 consolidated revenue declined 2.89% YoY to ₹1,10,792.85 lakh amid COVID-related shutdowns; EBITDA rose 5% to ₹11,610.52 lakh, with a 10.3% margin, up 80 bps.

• A strong second-half recovery, product diversification and cost management supported resilience; management viewed the long-term outlook positively while flagging pandemic uncertainty.

Financial highlights

• Consolidated revenue from operations was ₹1,10,792.85 lakh versus ₹1,14,091.38 lakh in FY20; reported decline was 2.89%.

• Consolidated EBITDA was ₹11,610.52 lakh versus ₹10,875.45 lakh; continuing-operations PAT before minority interest was ₹5,115.41 lakh versus ₹5,100.44 lakh.

• Consolidated PAT attributable to owners from continuing operations was ₹4,712.96 lakh versus ₹4,978.60 lakh; continuing-operations EPS was ₹6.91 versus ₹7.30.

• Standalone revenue was ₹90,294.89 lakh, down 4.18%; continuing-operations PBT was ₹5,566.82 lakh and PAT ₹4,208.73 lakh, versus ₹6,125.05 lakh and ₹5,127.38 lakh, respectively.

• Consolidated other comprehensive income included a ₹3,925.98 lakh gain on FVTOCI equity securities; standalone profit included a ₹221.78 lakh gain on sale of assets.

Outlook and guidance

• Priorities: maintain product diversity, pursue partner synergies, strengthen the order book and seek leadership across segments, with a roadmap toward global markets.

• Strategy emphasizes R&D, technology and innovation to expand in global automotive markets; management cited a strong order book and products in development.

• Industry FY22 growth projections cited were 22% for passenger vehicles, 28% for commercial vehicles, 18% for two- and three-wheelers and 13% for tractors.