BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Lumax Auto Technologies Ltd. reported broadly in line numbers for Q1 FY21. Revenue de-grew 75% YoY to Rs 710 million on-account of nationwide lockdown in large part of Q1 FY21.
Negative operating leverage turned Ebitda negative to Rs 125 million. Utilization level in Q1 was 25%, July 75%, August 90% plus and September expected to be flat YoY.
Current Inventory level stood at 50 days as compared to normal level of approximately 30 days.
Going ahead, we expect a quicker recovery in the Two-Wheeler segment resulting in ramp up in lighting and sheet metal business, incremental revenue from urea tank and aftermarket revenue which will aid earnings from Q2 FY21 onwards.
Revenue contribution for Lumax Auto Technologies from Two and Three Wheelers-52%, passenger vehicle 13%, Aftermarket 15%, commercial vehicle 10% and others 10%.
The company has taken various cost cutting initiatives which will aid in margin expansion in the coming quarters.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR