The D.K. Jain Group’s flagship firm Lumax Industries Limited is India’s most established and innovative operator in the automotive lighting business. In addition to Hero MotoCorp, HMSI, Mahindra & Mahindra, Maruti Suzuki, MG Motors, Tata Motors, Toyota, TVS, and others, Lumax is a significant supplier to OEMs. 

The Board of Directors made “Recommendation of Final Dividend of Rs. 27 /- per Equity Share (270%) of the Face Value of Rs. 10/- for the Financial Year 2022-23 subject to the approval of Shareholders in the ensuing Annual General Meeting of the Company; The dividend, if approved by the Shareholders, will be paid within 30 days of approval/declaration,” said Lumax Industries in a stock exchange filing.

During Q4FY23, the company recorded net revenue from operations of ₹608 Cr up by 11% YoY from ₹549 Cr in Q4FY22. During the quarter ended March 2023, its EBITDA stood at ₹53 Cr down by 12% YoY from ₹61 Cr during the quarter ended March 2022.

Lumax Industries said its net profit reached ₹21 Cr during the quarter under review down by 27% YoY from ₹29 Cr recorded in the year-ago quarter, and its EPS dropped to ₹22.20 from ₹30.51.

During the year ended March 31st, 2023, its net revenue stood at ₹2,320 Cr up by 32% YoY from ₹1,751 Cr during the financial year ended March 31st 2022. The company said its EBITDA stood at ₹222 Cr up by 50% YoY from ₹148 Cr in the previous financial year. During 12MFY23 the net profit of Lumax Industries reached ₹103 Cr up by 153% YoY from ₹41 Cr in 12MFY22.

“Commenting on the performance Mr. Deepak Jain, Chairman & Managing Director, Lumax Industries Limited said, “As the automotive landscape undergoes rapid transformation, we remain focused at consistently delivering advanced solutions that address the evolving needs of customers and industry demands. Leveraging our deep expertise and state-of-the-art manufacturing capabilities, with a diverse portfolio of products that ensure enhanced performance, safety, and sustainability across the automotive value chain.”

“Vehicle premiumization, shift to EVs and rising disposable income are key drivers for our growth. Strategic partnerships with leading technology companies around the world help us maintain a competitive edge. With our continued investments in R&D and technologically advanced product portfolio, we are well positioned to outperform the industry growth,” Deepak Jain further added.

On Friday, the shares of Lumax Industries closed on the BSE at ₹2020.65 apiece up by 0.76% from the previous close of ₹2005.45. The stock touched a 52-week-high of ₹2,101.45 on (28/04/2023) and a 52-week-low of ₹976.15 on (26/05/2022), indicating that at the current market price, the stock is trading 107% above the 1 year low and 3.84% below the 1 year high.

Check out the latest news from India and around the world. Latest India news on Business, income tax, gst, icai, company, Bollywood, Politics, Business, Cricket, Technology and Travel.

Leave a comment

Your email address will not be published. Required fields are marked *