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Anand Rathi Report
With 17%/52% YoY revenue/profit after tax growth, Lux Industries Ltd. ended FY21 on a sound footing.
Driven by greater profitability and better working capital, free cash flow jumped ~135% YoY.
In the year, market-share gains continued with a ~15% market share in organised men's innerwear.
On its profitable growth trajectory, we are upbeat on the company's long-term growth prospects for its strong brand equity, launches and long-standing operations in innerwear.
Its merger will unlock synergies to further propel growth.
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