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

Automobile lighting major 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link


DStv Premiership: FIVE matches scheduled for Wednesday, 10 August 2022

The second round of fixtures in the 2022/23 DStv...

Why Does My Grandson Think I Should Pay Him for Missing Our Family Vacation?

I am treating my family to a special vacation...

Casper the ghostly octopus has kept scientists enthralled since 2016

Back in 2016, scientists photographed an octopus far deeper...

BTS’ In The Soop reality show house will now be opened to the public : Bollywood News – Bollywood Hungama

The lavish villa where the South Korean juggernaut BTS stayed in when filming the reality series BTS In the Soop will...

Prophet Remarks Row: SC Clubs & Transfers All FIRs Filed Against Nupur Sharma to Delhi Police

The Supreme Court on Wednesday transferred all FIRs lodged in several states against suspended BJP spokesperson Nupur Sharma over her remarks on the Prophet...