Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo


Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Buy Lumax Auto Technologies: target of Rs 148: Sharekhan

Sharekhan is bullish on Lumax Auto Technologies has recommended buy rating on the stock with a target price of Rs 148 in its research report dated January 04, 2021.

January 14, 2021 / 08:51 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Lumax Auto Technologies

We expect Lumax Auto to benefit from the recovery in the two-wheeler and four-wheeler industry, a diversified portfolio, richer product mix and increase in content per client. We expect Lumax Auto’s earnings to grow by 59.1% in FY2022E and 26.5% in FY2023E, driven by a 20.2% CAGR during FY2021E-23E and a 140-bps improvement in EBITDA margin. Stock is attractively valued at a P/E multiple of 10.8x and EV/EBITDA multiple of 5.4x its FY2023 estimates.


We maintain our Buy rating on Lumax Auto Technologies Limited (Lumax Auto) with a revised PT of Rs. 148, factoring in better multiples owing to a strong traction in business outlook.

For all recommendations report, click here

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Broker Research
first published: Jan 6, 2021 09:21 am

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