The shares of the leading Original Equipment Manufacturers gained up to 10 percent after the company’s net profit and revenue increased by 71 percent and 64 percent YoY, respectively in the third quarter.
With a market capitalization of Rs 3,066.76 crore, the shares of Lumax Auto Technologies Ltd were trading at Rs 450.00 per share, increasing around 8.39 percent as compared to the previous closing price of Rs 415.15 apiece.
Looking into the company’s Performance, Lumax Auto Technologies Ltd’s revenue increased by 5 percent on a quarter-on-quarter basis from Rs. 700 crores in Q2FY24 to Rs. 732 crores in Q3 FY24. Furthermore, revenue jumped by 64 percent year on year from Rs. 445 crores in Q3FY23 to Rs.732 crores in Q3FY24.
Lumax Auto Technologies Ltd’s net profit increased by 26 percent on a quarter-on-quarter basis from Rs.38 crores in Q2FY24 to Rs. 48 crores in Q3FY24. Further, net profit increased by 71 percent yearly from Rs. 28 crores in Q3FY23 to Rs.48 crores in Q3FY24.
In 2023, the business acquired a 75% share in IAC at an equity valuation of Rs 587 Crore India, a well-established Tier 1 interior systems and components supplier to key automobile OEMs in India, and in 2024, Lumax acquired a 100% stake in Lumax Ancillary Ltd. These acquisitions signify well for future expansion.
The company’s success is built on its strong presence and market dominance in important brands. The SUV sector, which accounts for 40 percent of the Indian market, is a key driver of growth.
As of FY22-23, The company has 23 cutting-edge manufacturing facilities in 5 states, resulting in a strong portfolio and accurate product mix. LATL’s global presence is boosted by its 9 foreign relationships.
The company’s strategic aim is to strengthen LATL’s expertise in a variety of automobile components, including instrument panels, cockpits, consoles, door and trim systems, headliners, and overhead systems. The company enhances its position in the business by expanding its offerings to include inside soft trims, exterior hard trims, and tailgate trims.
Lumax Auto Technologies Ltd manufactures and supplies automotive lamps, plastic molded parts, and frame chassis for two, three, and four-wheeler segments.
Written by:- Abhishek Singh
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