Lumax Industries Q2 Review - On The Recovery Path: Dolat Capital
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Dolat Capital Report
Lumax Industries Ltd. reported a strong set of numbers in Q2 due to strong revenue from Honda Motorcycle and Scooter India Pvt. Ltd. and Maruti Suzuki India Ltd. and addition of new clients.
Revenue grew 14% YoY to Rs 4.5 billion. Ebitda margin stood at 8.2%, higher raw material cost was offset by operating efficiencies.
Despite near term hiccups for supply of semi-conductor, Lumax Industries is hopeful for sharp recovery in H2 aided by new launches and easing off supply chain.
Expecting revenue of Rs 8.5 billion-Rs 9 billion in H2 FY22(down 5 to down 8% YoY).
In near term margin pressure to continue due to higher raw material cost (extraordinary jump in prices of electronic component), higher import content.
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