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Dolat Capital Report
Lumax Auto Technologies Ltd. recorded a strong performance in Q4. Ebitda margin expanded 33 basis points QoQ to 10.9% benefited from operating leverage and strong aftermarket.
Management is observing promising recovery in business and expecting up 20% revenue growth in FY23.
Lumax Auto Tech has Rs 6 billion order book (out of which Rs 3.5 billion are new orders).
Fueled by the improving product mix, new client acquisitions and strong original equipment manufacturers volumes.
With a strong 13/15% revenue/Ebitda compound annual growth rate over FY22‐24E, Lumax Auto Tech is poised for re-rating, as reinvestment and rising capital efficiency to drive value.
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