The shares of one of the leading automotive component manufacturers surged by 9.4 percent, hitting a 52-week high price of ₹498 per share following a large deal valued at ₹134.50 crore.
Lumax Auto Technologies Ltd. belongs to a small-cap category of stock with a market capitalization of ₹3,308 crores. And its stock has gained 30% in the last six months and 86% in a year.
On February 29, there was a large deal on the exchange, amounting to ₹134.50 crore. Approximately 30 lakh shares, equivalent to a 4.4 percent stake in the company, were traded at an average price of ₹455 per share. The deal’s floor price indicated a 1 percent discount compared to the stock’s previous close, as reported by Moneycontrol.
Lumax Auto Technologies Ltd. was incorporated in 1981. It is engaged in manufacturing and supplying automotive lamps, plastic moulded parts, and frame chassis to two, three, and four-wheeler segments. It has partnerships with 7 global players, like Yokowo (Japan), JOPP (Germany), and a few others.
On a year-on-year basis, revenue slightly increased by 65%, from ₹445 crore in Q3 FY23 to ₹732 crore in Q3 FY24. The net profit climbed by 71% during the same time, from ₹ 28 crore to ₹48 crore.
As of the recent December quarter, the company’s promoter holds a 55.98 percent stake, while foreign institutional investors hold a 15.89 percent stake and domestic institutional investors hold an 8.32 percent stake.
The company’s revenue is diversified across various product categories, with 24% coming from Integrated Plastic Modules, 22% from the Aftermarket business segment, 13% from fabrications, 10% from the lightning business segment,, and 16% from the Shifter business segment
Written by Omkar Chitnis
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