99.10 -0.35 (-0.35%)
NSE Oct 22, 2020 15:31 PM
Volume: 10,181

HDFC Securities
LATL has a lean balance sheet with low leverage (0.1x), a consistent dividend payout record (20%+ dividend payout) and an efficient working capital cycle (14 days). We value the stock at Rs. 681 (15xFY19E EPS). Maintain BUY Lumax Autotechs (LATL) 1QFY18 numbers were mixed bag. Revenue at Rs. 2.35bn (-11% YoY) dragged by revenue from lighting (owing to decline in Bajaj Auto volume) and aftermarket sales. EBITDA at Rs 202mn (-1% YoY, in line estimates) with improved margin of 8.6 %(+82bps YoY). APAT at Rs 92mn (-22% YoY) dragged by fall in other income and higher tax.
Lumax Auto Technolog.. has an average target of 114.00 from 1 broker.
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