Lumax Industries Q1 Review - Near Term Hiccups, Long Term Positive: Dolat Capital
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Dolat Capital Report
Lumax Industries Ltd. reported a weak set of numbers in Q1 due to regional lockdown and chip shortage.
Revenue/Ebitda de-grew 38%/87% QoQ respectively. Ebitda margin fall by 782 basis points QoQ to 2% due to higher raw material cost and negative operating leverage.
Production is ramping up well with capacity utilisation at 85-90% in August.
Order book for September quarter also looks strong.
Management is looking at 10-15% industry growth in passenger vehicle segment and expects Lumax Industries to outperform industry and targeting revenue growth of 25-30% on the back of new business win and better mix.
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