Buy Lumax Auto Technologies; target of Rs 650: Sharekhan

Sharekhan's research report on Lumax Auto Technologies

LATL continue to look for suitable inorganic growth opportunities after the successful integration of IACI. Improvement in the aftermarket segment and increased premiumisation in its 2W order book would augur well for profitability.

Outlook

We maintain BUY on the stock with a revised PT of Rs. 650, based on anticipated improvement in the product mix, increased content per vehicle, and expanded growth opportunities, supported by IACI’s business. The stock trades at a P/E multiple of 16.5x and EV/EBITDA multiple of 7.2x its FY2026 estimates.

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