Lumax Auto Technologies (LUMAXTECH) Q4 21/22 earnings summary

Executive summary

• FY22 delivered record revenue and profit despite COVID waves, semiconductor shortages, commodity inflation and production disruptions.

• Growth was supported by aftermarket demand, product-mix changes, new business from existing customers and a broader product portfolio.

Financial highlights

• Consolidated revenue rose 36% YoY to ₹150,792.43 lakh; PAT increased 60% to ₹8,187.38 lakh; EPS was ₹10.18, up 47%.

• Consolidated PBT before exceptional items and JV losses was ₹11,523.02 lakh, up 60%; PBT after exceptional items was ₹11,290.56 lakh, up 58%.

• Standalone revenue increased 28% to ₹115,703.46 lakh; PAT rose 39% to ₹5,862.62 lakh; EPS was ₹8.60, up 39%.

• Consolidated operating cash flow was ₹8,744.79 lakh versus ₹9,819.01 lakh; cash and cash equivalents ended FY22 at ₹4,840.83 lakh.

• Adjusted for the ₹175.05 lakh exceptional employee-separation cost, consolidated PBT before tax was ₹11,465.61 lakh after JV losses.

Outlook and guidance

• FY23 momentum was described as positive; management expected to execute its strategy, supported by improving OEM offtake, pent-up demand and strong aftermarket demand.

• Major-customer wallet share, import substitution and rising safety, emissions and comfort requirements were identified as growth drivers.

• Indian auto-component industry growth was projected at 20–23% in FY23, supported by international demand and recovery in domestic OEM and aftermarket segments.