Lumax Auto Technologies (LUMAXTECH) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 consolidated revenue grew 20% year-over-year to INR 756 crores (₹75,592.97 lakhs), with EBITDA up 20% to INR 105 crores and margins at 14%.

• Net profit for the quarter was INR 42 crores (₹4,165.20 lakhs), with EPS at INR 4.65, up from INR 3.25 in the prior year.

• Product portfolio reclassified into Advanced Plastics, Structures and Control Systems, Mechatronics, and Aftermarket, with robust order books.

• Integration of IAC and Lumax Ancilliary Limited contributed to growth and diversification.

• Management focused on innovation, customer relationships, and increasing wallet share.

Financial highlights

• Consolidated Q1 FY25 revenue: INR 756 crores, up 20% YoY; EBITDA: INR 105 crores, up 20% YoY; EBITDA margin: 14%.

• PAT (minority interest): INR 42 crores, up 38% YoY; PAT margin at 4.2%; tax rate at 26.3%.

• EPS for Q1 FY25: INR 4.65 versus INR 3.25 in Q1 FY24.

• Free cash as of June 30, 2024: INR 416 crores; total debt: INR 660 crores, down from INR 680 crores as of March 31.

• Total comprehensive income for the quarter was ₹5,894.89 lakhs, up from ₹4,656.01 lakhs year-over-year.

Outlook and guidance

• Full-year consolidated revenue growth guidance revised to 15%-20%, with slower growth in Q2 and majority of growth in H2.

• EBITDA margins expected to be sustained at current levels, both including and excluding other income.

• Aftermarket expected to recover and post double-digit growth for the full year.

• Company evaluating impact of Finance (No.2) Bill, 2024, and merger with Lumax Ancilliary Limited is pending regulatory approval.