Announcement • Jun 01
Lumax Auto Technologies Limited, Annual General Meeting, Aug 24, 2026 Lumax Auto Technologies Limited, Annual General Meeting, Aug 24, 2026. Declared Dividend • Jun 01
Dividend of ₹5.50 announced Dividend of ₹5.50 is the same as last year. Ex-date: 6th August 2026 Payment date: 23rd September 2026 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 52% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 31
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹40.91 (up from ₹26.08 in FY 2025). Revenue: ₹49.2b (up 35% from FY 2025). Net income: ₹2.79b (up 57% from FY 2025). Profit margin: 5.7% (up from 4.9% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 22
Lumax Auto Technologies Limited to Report Q4, 2026 Results on May 29, 2026 Lumax Auto Technologies Limited announced that they will report Q4, 2026 results on May 29, 2026 Price Target Changed • Feb 16
Price target increased by 14% to ₹1,644 Up from ₹1,445, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹1,622. Stock is up 200% over the past year. The company is forecast to post earnings per share of ₹39.73 for next year compared to ₹26.08 last year. Reported Earnings • Feb 14
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: ₹12.10 (up from ₹6.58 in 3Q 2025). Revenue: ₹12.9b (up 42% from 3Q 2025). Net income: ₹824.7m (up 84% from 3Q 2025). Profit margin: 6.4% (up from 4.9% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 08
Price target increased by 24% to ₹1,445 Up from ₹1,162, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹1,470. Stock is up 162% over the past year. The company is forecast to post earnings per share of ₹36.20 for next year compared to ₹26.08 last year. Announcement • Feb 02
Lumax Auto Technologies Limited to Report Q3, 2026 Results on Feb 12, 2026 Lumax Auto Technologies Limited announced that they will report Q3, 2026 results on Feb 12, 2026 Announcement • Nov 08
Lumax Auto Technologies Limited Approves Relocation of Accessory Business Lumax Auto Technologies Limited at its board meeting held on November 08, 2025, approved relocation of Accessory business of the Company to a new location within Pant Nagar, Dist. -Udham Singh Nagar, Uttarakhand. Announcement • Oct 18
Lumax Auto Technologies Limited to Report Q2, 2026 Results on Nov 08, 2025 Lumax Auto Technologies Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Nov 08, 2025 Price Target Changed • Oct 13
Price target increased by 12% to ₹1,162 Up from ₹1,041, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹1,160. Stock is up 106% over the past year. The company is forecast to post earnings per share of ₹34.40 for next year compared to ₹26.08 last year. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,285, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 31x in the Auto Components industry in India. Total returns to shareholders of 384% over the past three years. New Risk • Aug 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 04
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹26.08 (up from ₹19.10 in FY 2024). Revenue: ₹36.4b (up 29% from FY 2024). Net income: ₹1.78b (up 37% from FY 2024). Profit margin: 4.9% (up from 4.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 31
Upcoming dividend of ₹5.50 per share Eligible shareholders must have bought the stock before 07 August 2025. Payment date: 23 September 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.6%). Announcement • Jul 21
Lumax Auto Technologies Limited to Report Q1, 2026 Results on Aug 07, 2025 Lumax Auto Technologies Limited announced that they will report Q1, 2026 results on Aug 07, 2025 New Risk • Jul 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to ₹975, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 26x in the Auto Components industry in India. Total returns to shareholders of 477% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹529 per share. New Risk • Jun 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.4% average weekly change). Reported Earnings • May 30
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹26.08 (up from ₹19.10 in FY 2024). Revenue: ₹36.9b (up 31% from FY 2024). Net income: ₹1.78b (up 37% from FY 2024). Profit margin: 4.8% (up from 4.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 07
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to ₹474. The fair value is estimated to be ₹636, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to grow by 70% in the next 2 years. Announcement • Apr 02
Sumedh Murugkar Resigns as Senior General Manager - Marketing & Business Development of Lumax Auto Technologies Limited, Effective February 28, 2025 Lumax Auto Technologies Limited announced that Mr. Sumedh Murugkar, Senior General Manager - Marketing & Business Development (West & South) had resigned from the Company effective from the close of business hours on February 28, 2025 to pursue his interests outside the organisation. Announcement • Mar 01
Lumax Auto Technologies Limited Appoints Mr. Satish Sundaresan as the Chief Technology Officer Lumax Auto Technologies Limited on March 01, 2025, approved the appointment of Mr. Satish Sundaresan as the Chief Technology Officer designated as Senior Management Personnel of the Company with effect from March 03, 2025. Mr. Satish Sundaresan has completed his B.E. in Instrumentation Engineering from Mumbai University and has also pursued programs in Strategy and Business Management from ISB, Hyderabad and General Management Program from IIM, Bangalore. He has worked with renowned and reputed organizations such as Mercedez Benz R&D Pvt. Ltd., Infosys Technologies Ltd., Robert Bosch and Reliance. His last employment was with Elektrobit India as their Chief Strategy Officer. He possesses 24+ years of experience in leadership positions, both in Automotive and Non-Automotive sectors. He is a seasoned automotive technology professional with a strong understanding of the current and emerging global and local technology trends. In his last role as Chief Strategy Officer in Elektrobit India, he was driving revenue growth through innovative product offerings in ADAS, cybersecurity, connected mobility and automated driving. Price Target Changed • Feb 18
Price target increased by 16% to ₹783 Up from ₹673, the current price target is an average from 4 analysts. New target price is 50% above last closing price of ₹523. Stock is up 10% over the past year. The company is forecast to post earnings per share of ₹23.63 for next year compared to ₹19.10 last year. Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: ₹6.58 (vs ₹5.35 in 3Q 2024) Third quarter 2025 results: EPS: ₹6.58 (up from ₹5.35 in 3Q 2024). Revenue: ₹9.15b (up 25% from 3Q 2024). Net income: ₹448.2m (up 23% from 3Q 2024). Profit margin: 4.9% (down from 5.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.9% to ₹548. The fair value is estimated to be ₹452, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 49% in the next 2 years. Buy Or Sell Opportunity • Jan 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.5% to ₹569. The fair value is estimated to be ₹470, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 49% in the next 2 years. Buy Or Sell Opportunity • Nov 27
Now 20% overvalued Over the last 90 days, the stock has fallen 1.6% to ₹521. The fair value is estimated to be ₹433, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹6.29 (vs ₹4.02 in 2Q 2024) Second quarter 2025 results: EPS: ₹6.29 (up from ₹4.02 in 2Q 2024). Revenue: ₹8.58b (up 23% from 2Q 2024). Net income: ₹428.8m (up 56% from 2Q 2024). Profit margin: 5.0% (up from 3.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 13
Lumax Auto Technologies Limited Approves Appointment of Mr. Tetsuhiro Saeki as Senior Management Personnel Designated as Business Development Director-Operations Lumax Auto Technologies Limited approved appointment of Mr. Tetsuhiro Saeki as Senior Management Personnel designated as Business Development Director - Operations with effect from November 13, 2024. Term of appointment- Full Time Employment Mr. Tetsuhiro Saeki holds a degree of Bachelor of Engineering from Kumamoto University, Japan. He has an extensive experience of more than 4 decades in several areas including planning, global sales and production etc. Buy Or Sell Opportunity • Nov 05
Now 21% overvalued Over the last 90 days, the stock has fallen 9.2% to ₹519. The fair value is estimated to be ₹430, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 69% in the next 2 years. Price Target Changed • Sep 25
Price target increased by 11% to ₹675 Up from ₹606, the current price target is an average from 4 analysts. New target price is 18% above last closing price of ₹574. Stock is up 61% over the past year. The company is forecast to post earnings per share of ₹25.18 for next year compared to ₹19.10 last year. Upcoming Dividend • Sep 02
Upcoming dividend of ₹5.50 per share Eligible shareholders must have bought the stock before 09 September 2024. Payment date: 26 October 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.5%). New Risk • Aug 13
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 48% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (48% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Aug 12
Lumax Auto Technologies Limited, Annual General Meeting, Sep 27, 2024 Lumax Auto Technologies Limited, Annual General Meeting, Sep 27, 2024. Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: ₹4.65 (vs ₹3.25 in 1Q 2024) First quarter 2025 results: EPS: ₹4.65 (up from ₹3.25 in 1Q 2024). Revenue: ₹7.73b (up 22% from 1Q 2024). Net income: ₹317.0m (up 43% from 1Q 2024). Profit margin: 4.1% (up from 3.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 02
Lumax Auto Technologies Limited to Report Q1, 2025 Results on Aug 10, 2024 Lumax Auto Technologies Limited announced that they will report Q1, 2025 results at 12:08 PM, Indian Standard Time on Aug 10, 2024 Price Target Changed • Jun 05
Price target increased by 11% to ₹566 Up from ₹510, the current price target is an average from 4 analysts. New target price is 21% above last closing price of ₹468. Stock is up 36% over the past year. The company is forecast to post earnings per share of ₹28.00 for next year compared to ₹19.10 last year. Reported Earnings • May 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹19.10 (up from ₹13.63 in FY 2023). Revenue: ₹28.7b (up 55% from FY 2023). Net income: ₹1.30b (up 40% from FY 2023). Profit margin: 4.5% (down from 5.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 17
Lumax Auto Technologies Limited to Report Q4, 2024 Results on May 27, 2024 Lumax Auto Technologies Limited announced that they will report Q4, 2024 results on May 27, 2024 Price Target Changed • Feb 17
Price target increased by 9.3% to ₹457 Up from ₹418, the current price target is an average from 5 analysts. New target price is 6.3% above last closing price of ₹430. Stock is up 94% over the past year. The company is forecast to post earnings per share of ₹19.90 for next year compared to ₹13.63 last year. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹5.35 (vs ₹3.43 in 3Q 2023) Third quarter 2024 results: EPS: ₹5.35 (up from ₹3.43 in 3Q 2023). Revenue: ₹7.42b (up 67% from 3Q 2023). Net income: ₹364.4m (up 56% from 3Q 2023). Profit margin: 4.9% (down from 5.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 31
Lumax Auto Technologies Limited to Report Q3, 2024 Results on Feb 13, 2024 Lumax Auto Technologies Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Announcement • Dec 27
Lumax Auto Technologies Limited (NSEI:LUMAXTECH) agreed to acquire remaining 85.69% stake in Lumax Ancillary Ltd from Dhanesh Kumar Jain, Deepak Jain and Anmol Jain and others for approximately INR 490 million. Lumax Auto Technologies Limited (NSEI:LUMAXTECH) agreed to acquire remaining 85.69% stake in Lumax Ancillary Ltd from Dhanesh Kumar Jain, Deepak Jain and Anmol Jain and others for approximately INR 490 million on December 26, 2023. Lumax Ancillary reported turnover of INR 1,714,777,000 in FY 2022-23. Board of Lumax Auto Technologies approved the transaction on December 26, 2023. The transaction is expected to be completed by January 2024. Price Target Changed • Nov 12
Price target increased by 8.4% to ₹402 Up from ₹371, the current price target is an average from 4 analysts. New target price is 8.9% above last closing price of ₹369. Stock is up 47% over the past year. The company is forecast to post earnings per share of ₹18.50 for next year compared to ₹13.63 last year. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹4.02 (vs ₹4.27 in 2Q 2023) Second quarter 2024 results: EPS: ₹4.02 (down from ₹4.27 in 2Q 2023). Revenue: ₹7.09b (up 46% from 2Q 2023). Net income: ₹274.0m (down 5.7% from 2Q 2023). Profit margin: 3.9% (down from 6.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 28
Lumax Auto Technologies Limited to Report Q2, 2024 Results on Nov 08, 2023 Lumax Auto Technologies Limited announced that they will report Q2, 2024 results on Nov 08, 2023 Board Change • Aug 30
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Director Diviya Chanana was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 23
Lumax Auto Technologies Limited Approves Dividend for the Financial Year Ended March 31, 2023 Lumax Auto Technologies Limited at its Annual General Meeting held on August 22, 2023, approved to declare a dividend of INR 4.50 per equity share as recommended by the Board of Directors for the financial year ended March 31, 2023. Announcement • Aug 02
Lumax Auto Technologies Limited Proposes Dividend for the Financial Year Ended March 31, 2023, Payable on or Before 20 September, 2023 Lumax Auto Technologies Limited proposed dividend of INR 4.50/- per equity share as recommended by the Board of Directors for the Financial Year ended March 31, 2023 at its Annual General Meeting to be held on August 22, 2023. If dividend on Equity Shares, as recommended by the Board, is approved at the Annual General Meeting, the payment of such dividend will be made on or before September 20, 2023 as under: to all beneficial owners in respect of Shares held in dematerialized form as per details furnished by the Depositories for this purpose as at the end of business hours on August 07, 2023. to all Members in respect of Shares held in physical form, as at the end of business hours on August 07, 2023. The Company has fixed August 07, 2023 as the "Record Date" for ascertaining the list of shareholders eligible for Dividend for Lhe Financial Year 2022-23 and has fixed August 16, 2023 as the "Cut-off Date" for the purpose of determining the members eligible to vote on the resolution(s) set out in the Notice of the AGM or to attend the AGM. Announcement • May 27
Lumax Auto Technologies Limited Announces Executive Changes Lumax Auto Technologies Limited announced that Mr. Raajesh Kumar Gupta has resigned from the Post of Company Secretary and Compliance officer of the Company with effect from close of Working hours of May 26, 2023. Requisite details of resignation of Mr. Raajesh Kumar Gupta have been provided in Annexure -A. Appointment of his successor shall be made in the due course and shall be intimated to the Stock Exchange; and In the Interim, the Company has designated Mr. Ashish Dubey, Chief Financial Officer of the Company as Compliance Officer with effect from May 27, 2023 who will be responsible for ensuring the compliances under Listing Regulations and other applicable laws and regulations. Requisite details for appointment of Mr. Ashish Dubey have been provided in Annexure -A. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹269, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the Auto Components industry in India. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹131 per share. Reported Earnings • Feb 14
Third quarter 2023 earnings released: EPS: ₹3.43 (vs ₹3.16 in 3Q 2022) Third quarter 2023 results: EPS: ₹3.43 (up from ₹3.16 in 3Q 2022). Revenue: ₹4.52b (up 5.7% from 3Q 2022). Net income: ₹233.5m (up 8.2% from 3Q 2022). Profit margin: 5.2% (up from 5.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹211, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Auto Components industry in India. Total returns to shareholders of 124% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹218 per share. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹4.27 (vs ₹3.43 in 2Q 2022) Second quarter 2023 results: EPS: ₹4.27 (up from ₹3.43 in 2Q 2022). Revenue: ₹4.87b (up 21% from 2Q 2022). Net income: ₹290.7m (up 24% from 2Q 2022). Profit margin: 6.0% (up from 5.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Additional Independent Director Diviya Chanana was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 26
Lumax Auto Technologies Limited Declares Announces Dividend for the Financial Year 2021-2022 Lumax Auto Technologies Limited announced a Dividend of INR 3.50 per equity share having face value of INR 2 each for the financial year 2021-2022 was declared in the 41st Annual General Meeting of the Company held on July 22, 2022. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 20% share price gain to ₹286, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 257% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹228 per share. Price Target Changed • Aug 12
Price target increased to ₹244 Up from ₹209, the current price target is an average from 4 analysts. New target price is 5.4% above last closing price of ₹232. Stock is up 48% over the past year. The company is forecast to post earnings per share of ₹14.97 for next year compared to ₹10.18 last year. Announcement • Aug 07
Lumax Auto Technologies Limited Appoints Diviya Chanana as Additional Director Lumax Auto Technologies Limited approved the Appointment of Mrs. Diviya Chanana as Additional Director in capacity of Independent Director effective August 06, 2022. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: ₹3.20 (vs ₹0.50 in 1Q 2022) First quarter 2023 results: EPS: ₹3.20 (up from ₹0.50 in 1Q 2022). Revenue: ₹4.26b (up 64% from 1Q 2022). Net income: ₹218.1m (up ₹184.1m from 1Q 2022). Profit margin: 5.1% (up from 1.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.9%, compared to a 18% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 24
Lumax Auto Technologies Limited Approves the Dividend for the Financial Year Ended March 31, 2022 Lumax Auto Technologies Limited approved the dividend of INR 3.50 per equity share as recommended by the Board of Directors for the financial year ended March 31, 2022, at the AGM held on July 22, 2022. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₹248, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 24x in the Auto Components industry in India. Total returns to shareholders of 210% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹156 per share. Reported Earnings • Jul 02
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: ₹15.1b (up 36% from FY 2021). Net income: ₹694.1m (up 47% from FY 2021). Profit margin: 4.6% (up from 4.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.3%. Over the next year, revenue is forecast to grow 17%, compared to a 22% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 01
Upcoming dividend of ₹3.50 per share Eligible shareholders must have bought the stock before 08 July 2022. Payment date: 20 August 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.9%). Higher than average of industry peers (0.7%). Announcement • May 13
Lumax Auto Technologies Limited, Annual General Meeting, Jul 22, 2022 Lumax Auto Technologies Limited, Annual General Meeting, Jul 22, 2022. Agenda: To consider the Financial Year ended March 31, 2022. Reported Earnings • May 13
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: ₹10.18 (up from ₹6.92 in FY 2021). Revenue: ₹15.2b (up 37% from FY 2021). Net income: ₹694.1m (up 47% from FY 2021). Profit margin: 4.6% (up from 4.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 7.1%, compared to a 18% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year. Announcement • May 12
Lumax Auto Technologies Limited Announces Resignation of Diviya Chanana as Non-Executive Independent Director Lumax Auto Technologies Limited announced that Mrs. Diviya Chanana (DIN: 00737160) has submitted her resignation from the position of the "Non-Executive Independent Director" of the Company with immediate effect. Mrs. Diviya Chanana has been associated with the Company since December 4, 2017. She has given her resignation from the position of the Independent Director of the Company with immediate effect due to the reason of not being able to comply with the requirements of Section 149 of the Companies Act, 2013 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014. Price Target Changed • Apr 27
Price target increased to ₹218 Up from ₹192, the current price target is an average from 3 analysts. New target price is 21% above last closing price of ₹180. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹12.40 for next year compared to ₹6.91 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Avinash Gandhi was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Feb 16
Price target increased to ₹207 Up from ₹192, the current price target is an average from 3 analysts. New target price is 11% above last closing price of ₹187. Stock is up 40% over the past year. The company is forecast to post earnings per share of ₹11.60 for next year compared to ₹6.91 last year. Reported Earnings • Feb 10
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹3.16 (down from ₹3.39 in 3Q 2021). Revenue: ₹4.30b (up 18% from 3Q 2021). Net income: ₹215.7m (down 6.5% from 3Q 2021). Profit margin: 5.0% (down from 6.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 1.9%, compared to a 15% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Dec 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Avinash Gandhi was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS ₹3.43 (vs ₹2.25 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹4.06b (up 43% from 2Q 2021). Net income: ₹233.9m (up 53% from 2Q 2021). Profit margin: 5.8% (up from 5.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year and the company’s share price has also fallen by 6% per year. Upcoming Dividend • Aug 13
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 20 August 2021. Payment date: 30 September 2021. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.6%). Reported Earnings • Aug 09
Full year 2021 earnings released: EPS ₹6.92 (vs ₹7.30 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹11.1b (down 2.9% from FY 2020). Net income: ₹471.3m (down 5.3% from FY 2020). Profit margin: 4.3% (down from 4.4% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Price Target Changed • Jun 18
Price target increased to ₹193 Up from ₹160, the current price target is an average from 2 analysts. New target price is 26% above last closing price of ₹153. Stock is up 106% over the past year. Reported Earnings • Jun 14
Full year 2021 earnings released: EPS ₹6.91 (vs ₹7.30 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹11.3b (down 1.3% from FY 2020). Net income: ₹471.3m (down 5.3% from FY 2020). Profit margin: 4.2% (down from 4.4% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 20
New 90-day high: ₹143 The company is up 34% from its price of ₹107 on 20 November 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹41.36 per share. Reported Earnings • Feb 15
Third quarter 2021 earnings released: EPS ₹3.39 (vs ₹1.70 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹3.65b (up 27% from 3Q 2020). Net income: ₹230.8m (up 99% from 3Q 2020). Profit margin: 6.3% (up from 4.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.