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Lumax Ind: Weak Q1, but road ahead is bright

We advise investors to buy Lumax Ind with a long-term perspective

Nitin Agrawal
August 19, 2020 / 11:41 AM IST
Lumax Ind: Weak Q1, but road ahead is bright

PRO Only Highlights
-  Quarterly performance largely backed by improved realisations
-  Medium-term triggers China plus and protectionist measures for tyre industry
-  Valuations not inexpensive; but improved medium-term outlook

The first quarter of FY21 was a washout for Lumax Industries (CMP: Rs 1,434, MCAP: Rs 1,340 crore) because of the pandemic-triggered disruption in business activities. As a result, the end-to-end lighting solution provider for automobiles posted a weak set of numbers for the reporting quarter. Revenues suffered a significant decline on a year-on-year (YoY) basis, while operating profitability turned negative. However, once the lockdown restrictions were eased, Lumax saw a strong recovery in demand. The LED-based products could be a...

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