Lumax revenue up 30% at Rs 504 crore in Q4FY21; revenue drops 11%

Automobile lighting major Lumax Industries has reported revenue of Rs 504 crore for Q4 FY21 as against Rs 387 crore in the same period of previous fiscal, marking a 30 per cent increase.

For fiscal year 21, revenue dropped by 11 per cent to Rs 1,426 crore from Rs 1,602 crore in FY20 due to nationwide lockdown in the first quarter.

The company reported consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 65 crore in Q4 FY21 as against Rs 38 crore for Q4 FY20, up by 73 per cent. This was due to one-time impact of subsidy income of Rs 12 crore.

For FY21, the company reported consolidated EBITDA of Rs 125 crore against Rs 165 crore for FY20, down by 25 per cent.

Profit after tax and share of associate stood at Rs 23 crore in Q4 FY21 as against Rs 16 crore in Q4 FY20, up by 39 per cent. For FY21, the same stood at Rs 18 crore as against Rs 72 crore in FY20.

The board of directors has recommended a final dividend of Rs 7 per equity share for FY21.

Deepak Jain, Chairman and Managing Director, said the financial year 2020-21 was all about sustaining the business and profitability and the company managed to do so.

"We are preferred suppliers to Indian OEMs and we have achieved this level of expertise in terms of technology and a sharp focus on innovation and product development," he said.

"We stand competitive in the global market. At Lumax, we will continue to witness improved demand across our product portfolio."

Lumax has 10 manufacturing plants in the country strategically located near manufacturing locations of major OEMs. It is one of the major suppliers to Hero Motocorp, Honda Motorcycle and Scooter India, Honda Cars, Mahindra and Mahindra, Maruti Suzuki, MG Motors, Tata Motors, TVS and others.