Lumax Industries Ltd. share price target

We maintain a BUY rating on the stock with a revised target price of Rs 1,450/share (Rs 1,350 earlier) valuing it at 13x of FY24E P/E, implying an upside of 25% from the CMP.

As per the data published by SIAM, driven by subdued demand in both passenger vehicles and two-wheeler wheeler segments, the overall auto-industry production at around 58.6 lakh units in Q3FY22 took a hit of some 17% in...

We retain our BUY rating on the stock with a revised target price of Rs 1,350/share (earlier Rs 1,600/share), implying an upside of 26% from the CMP.

Background: Lumax Industries, part of DK Jain group, is the largest automotive lighting company in India. It manufactures Head lamps, Tail lamps, Sundry & Auxiliary lamps. Lumax has technological & financial collaboration with Stanley Electric of Japan. Stanley holds 37.5% in Lumax Industries and is its largest shareholder. Lumax provides high quality automotive lighting solutions for four wheelers, two wheelers, CVs & Tractors. It has 27 manufacturing locations across...

We maintain a BUY rating on the stock with a target price of Rs 1,635/share.

We maintain a BUY rating on the stock with a target price of Rs 1,635/share.

Good quarter with long term growth outlook intact

Background: Lumax Industries, part of DK Jain group, is the largest automotive lighting company in India. It manufactures Head lamps, Tail lamps, Sundry & Auxiliary lamps. Lumax has technological & financial collaboration with Stanley Electric of Japan. Stanley holds 37.5% in Lumax Industries and is its largest shareholder. Lumax provides high quality automotive lighting solutions for four wheelers, two wheelers, CVs & Tractors. It has 27 manufacturing locations across...

We maintain a BUY rating on the stock with a target price of Rs 1,600 valuing it at 16x of FY23E P/E, implying an upside of 12% from CMP.

We retain a BUY with a target price revised to Rs 1616 (earlier Rs 1741), implying an upside of 10% from CMP.

Background: Lumax Industries, part of DK Jain group, is the largest automotive lighting company in India. It manufactures Head lamps, Tail lamps, Sundry & Auxiliary lamps. Lumax has technological & financial collaboration with Stanley Electric of Japan. Stanley holds 37.5% in Lumax Industries and is its largest shareholder. Lumax provides high quality automotive lighting solutions for four wheelers, two wheelers, CVs & Tractors. It has 27 manufacturing locations across...

Lacklustre show, but strong guidance instils confidence

Lumax Industries (LUMAX) reported healthy top line growth of 30% YoY/10% QoQ to INR504cr in Q4FY21, while EBITDA grew 48% YoY/4% QoQ to INR50cr.

We expect the company to report Revenues/PAT at a CAGR of 8%/12% over FY20-23E. We retain BUY with a target price of Rs 1741, implying an upside of 11%.

Background: Lumax Industries, part of DK Jain group, is the largest automotive lighting company in India. It manufactures Head lamps, Tail lamps, Sundry & Auxiliary lamps. Lumax has technological & financial collaboration with Stanley Electric of Japan. Stanley holds 37.5% in Lumax Industries and is its largest shareholder. Lumax provides high quality automotive lighting solutions for four wheelers, two wheelers, CVs & Tractors. It has 27 manufacturing locations across...

We retain our BUY rating with a revised TP of Rs1,790 as we remain confident of Lumax Industries' (LMXI) well-diversified client mix and strong backing of Stanley. While 3QFY21 revenue lagged the industry production growth by a whisker, we think that that accounts like Tata Motors and Hero MotoCorp (HML), which are displaying strong growth, should offset any decline arising from an unfavourable model mix. LMXI is not facing any semiconductor issues due to Stanley's global support and this auger well for the company. We stick to our view that LMXI being...

Background: Lumax Industries, part of DK Jain group, is the largest automotive lighting company in India. It manufactures Head lamps, Tail lamps, Sundry & Auxiliary lamps. Lumax has technological & financial collaboration with Stanley Electric of Japan. Stanley holds 37.5% in L umax Industries and is its largest shareholder. Lumax provides high quality automotive lighting solutions for four wheelers, two wheelers, CVs & Tractor s. It has 27 manufacturing...