Lumax Auto Technologies (LUMAXTECH) Q4 23/24 earnings summary

Executive summary

• FY 2023-24 delivered record consolidated revenue and profitability, supported by IAC integration, new customers and business wins with existing customers.

• Consolidated revenue rose 52.74% YoY to ₹2,821.74 crore; EBITDA reached ₹413 crore at a 14.6% margin, and PAT before non-controlling interest increased 49.80% to ₹166.96 crore.

• The outlook remains positive, with expected margin improvement and growth priorities in passenger vehicles, electronics, mechatronics, EV-related opportunities and further acquisitions.

Financial highlights

• Consolidated revenue from customer contracts was ₹2,821.74 crore vs ₹1,847.46 crore in FY23; PBT before exceptional items rose 45.73% to ₹226.73 crore.

• Consolidated EBITDA was ₹413 crore vs ₹224 crore in FY23; EBITDA margin improved to 14.6% from 12.1%.

• PAT before non-controlling interest was ₹166.96 crore vs ₹111.46 crore, up 49.80%; consolidated EPS was ₹19.10 vs ₹13.63, up 40.13%.

• Standalone revenue was ₹1,33,457.26 lakh, PAT ₹9,266.21 lakh and EPS ₹13.60; PAT rose 26.04% YoY.

• Consolidated operating cash flow was ₹265.37 crore; investing cash outflow was ₹249.18 crore and cash and equivalents closed at ₹51.03 crore.

Outlook and guidance

• Management expects margins to improve and remains optimistic about growth in the upcoming fiscal year and beyond, while monitoring the order book.

• Priorities include higher-value passenger-vehicle content, electronics and mechatronics, EV opportunities, ADAS, in-house R&D and localization.

• Organic growth and further acquisitions are planned to expand market share and revenue; IAC integration is expected to support new customer additions and greater wallet share.

• The board recommended a ₹5.50/share dividend, equal to 275% of face value; proposed payout is ₹37.49 crore, or 40.46% of standalone profit.