Lumax Auto stock leaps 11% on healthy Q2 numbers; PAT zooms 38% YoY

Lumax Auto share price: Automotive components manufacturer Lumax Auto shares soared up to 10.61 per cent to hit an intraday high of Rs 534.45 per share on Thursday, November 14, 2024.

 

The rise in Lumax Auto share price came after the company posted a strong set of numbers in the September quarter of financial year 2025 (Q2FY25).

 

Lumax Auto’s Profit after Tax (PAT) before Minority Interest for Q2FY25 soared 38 per cent Y-o-Y to Rs 52 crore, as against Rs 38 crore in Q2FY24. 

 

The company’s revenue from operations zoomed 20 per cent annually to Rs 842 crore in Q2FY25, from Rs 700 crore in Q2FY24. The company also said that this was the highest ever single quarter revenue.

 

 

At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda) climbed 18 per cent Y-o-Y to Rs 118 crore as against Rs 99 crore in Q2FY24.

 

Ebitda margins, however, squeezed 20 basis points (bps) to 14 per cent, as against 14.2 per cent in Q2FY24. 

 

"We are pleased to report a strong performance this quarter, with revenues reaching Rs 842 crore, representing a growth of 20 per cent compared to Q2FY24. Our Ebitda for the quarter stood at Rs 118 crore, a growth of 18 per cent, with Ebitda margins at 14 per cent. This quarter saw a subdued performance mainly in the Passenger Vehicle segment, due to elections, heatwaves, and an uneven monsoon across the country. Inventory levels for passenger vehicles remained elevated during the quarter. On a positive side, the festive season has seen a demand recovery across segments, as reflected in the monthly OEM figures," said Anmol Jain, MD, Lumax Auto Technologies 

 

During the current quarter, the Board of Directors of the Holding Company in their meeting held on September 14, 2024 have considered and approved the proposed acquisition of Greenfuel Energy Solutions Private Limited through one of its wholly owned subsidiaries Company (i.e. Lumax Resources Private Limited). The acquisition will be completed subject to completion of terms of contract and necessary regulatory approvals. 

 

Earlier in July, the Company filed the Draft Scheme of merger with National Company Law Tribunal (NCLT) of its 100 per cent subsidiary ‘Lumax Ancilliary Limited’ with the Company for efficient utilisation & synergy of resources. The Appointed date of Merger will be April 01, 2024 subject to necessary regulatory approvals. 

 

Outlook

 

The company remains optimistic about the year ahead, as it anticipates improved market visibility and a revival in demand, bolstered by upcoming product launches. These factors position the company well for sustained growth and continued success, Lumax Auto said in a statement.

 

At 12:08 PM, Lumax Auto share was trading 6.53 per cent higher at Rs 514.70 per share. In comparison, BSE Sensex was trading 0.18 per cent lower at 77,549.08 levels.