External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Although revenue came in ahead of our estimates, EBITDA and PAT were lower primarily on account of steep increase in raw material prices.</li><li>The expectations of an improved demand scenario from H2FY21 is encouraging for the company</li><li>We maintain a BUY rating on the stock with a target price of Rs 1,600 valuing it at 16x of FY23E P/E, implying an upside of 12% from CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Although revenue came in ahead of our estimates, EBITDA and PAT were lower primarily on account of steep increase in raw material prices.The expectations of an improved demand scenario from H2FY21 is encouraging for the companyWe maintain a BUY rating on the stock with a target price of Rs 1,600 valuing it at 16x of FY23E P/E, implying an upside of 12% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries: Near-Term Headwinds Persist But Long-Term Outlook Intact

<p>Lumax Industries (Lumax Inds) reported a muted performance in Q1FY22 with lower-thanexpected revenue at Rs 314 Cr, down by 38% QoQ. Q1FY22 performance was impacted due to regional lockdown and chip shortage resulted in lower OEM production and significant erosion on the margins. Manufacturing revenue was down 39% QoQ to Rs 301 Cr. Mould parts revenue was down 10% QoQ to Rs 13 Cr due to delays in launches by OEM and shortage of components. EBIDTA margin came in much below expectations at 2% vs. 9.8% in Q4FY21 owing to higher raw material cost (extraordinary jump in the prices of electronic components), import content and logistics costs. The weak operating performance led to a loss at the PAT level to Rs 10 Cr vs PAT of Rs 23 Cr in Q4FY21.</p><p>We retain a BUY with a target price revised to Rs 1616 (earlier Rs 1741), implying an upside of 10% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Lumax Industries (Lumax Inds) reported a muted performance in Q1FY22 with lower-thanexpected revenue at Rs 314 Cr, down by 38% QoQ. Q1FY22 performance was impacted due to regional lockdown and chip shortage resulted in lower OEM production and significant erosion on the margins. Manufacturing revenue was down 39% QoQ to Rs 301 Cr. Mould parts revenue was down 10% QoQ to Rs 13 Cr due to delays in launches by OEM and shortage of components. EBIDTA margin came in much below expectations at 2% vs. 9.8% in Q4FY21 owing to higher raw material cost (extraordinary jump in the prices of electronic components), import content and logistics costs. The weak operating performance led to a loss at the PAT level to Rs 10 Cr vs PAT of Rs 23 Cr in Q4FY21.We retain a BUY with a target price revised to Rs 1616 (earlier Rs 1741), implying an upside of 10% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries: Near-Term Pressure Exists But Long-Term Positive View Intact!

External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

<p>Lacklustre show, but strong guidance instils confidence</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Lacklustre show, but strong guidance instils confidenceContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries. Ltd. Rs Q1FY22 Result Update

<p>We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of 11%.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of 11%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<p>Lumax Industries (LUMAX) reported healthy top line growth of 30% YoY/10% QoQ to INR504cr in Q4FY21, while EBITDA grew 48% YoY/4% QoQ to INR50cr.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Lumax Industries (LUMAX) reported healthy top line growth of 30% YoY/10% QoQ to INR504cr in Q4FY21, while EBITDA grew 48% YoY/4% QoQ to INR50cr.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lumax Industries Ltd - Result Update Q4FY21

India

Lumax Industries Limited is a key player in the Indian automotive lighting industry, providing end-to-end automotive lighting solutions including headlamps, tail lamps, and auxiliary lamps for two-wheelers, passenger vehicles, and commercial vehicles. The company also offers LED modules and electronic components. Lumax Industries Limited was established in 1945 and is headquartered in Gurugram, India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Lumax Industries (LUMX IN)

Lumax Industries: Near-Term Headwinds Persist But Long-Term Outlook Intact

We maintain a BUY rating on the stock with a target price of Rs 1,600 valuing it at 16x of FY23E P/E, implying an upside of 12% from CMP.

Axis Direct

Lumax Industries: Near-Term Pressure Exists But Long-Term Positive View Intact!

We retain a BUY with a target price revised to Rs 1616 (earlier Rs 1741), implying an upside of 10% from CMP. Lumax Industries (Lumax Inds)...

Axis Direct

Lumax Industries. Ltd. Rs Q1FY22 Result Update

Lacklustre show, but strong guidance instils confidence

Edelweiss

Result Update:Lumax Industries

We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of...

Axis Direct

Lumax Industries Ltd - Result Update Q4FY21

Lumax Industries (LUMAX) reported healthy top line growth of 30% YoY/10% QoQ to INR504cr in Q4FY21, while EBITDA grew 48% YoY/4% QoQ to INR50cr.

Edelweiss

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)