Sharekhan's research report on Lumax Auto Technologies
Acquisition of Greenfuel marks LATL’s foray into alternative fuel segment; acquisition is EPS accretive. The strategic move positions Lumax to capitalize on the anticipated growth of the CNG vehicle market in India.
Outlook
We maintain a Buy rating on the stock with a revised price target (PT) of Rs. 682, on anticipated improvement in product mix, increased content per vehicle, and expanded growth opportunities supported by inorganic growth opportunities. Stock trades at P/E multiple of 17.6x and EV/EBITDA multiple of 7.7x its FY26 estimates.
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