Dolat Capital
Lumax Autotech (LATL) reported 4QFY20 numbers below estimates. Revenue de-grew 10%YoY to Rs 2.72bn due to production cut taken by various OEM for BS6 transition and impact of lockdown. EBIDTA margin contracted 330bps YoY to 5.4%, due to negative operating leverage, weaker product mix (low replacement revenue) and one off expenses (Rs.50mn towards legal and due diligence expenses). Adjusted EBITDA stood at 7.2%. Going ahead, we expect a quicker recovery in the 2W segment and...
Lumax Auto Technologies Ltd. is trading above all available SMAs
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