Lumax Industries stock falls 15% post Q4 earnings; shareholders to get final dividend of Rs 27 per share

Shares of Lumax Industries Ltd slipped over 15% today after the firm reported a 27.24% fall in consolidated profit to Rs 20.75 crore for the fourth quarter ended March 2023 against a net profit of Rs 28.52 crore in the corresponding quarter of the previous fiscal. Lumax Industries stock fell 15.36% to Rs 1710.25 against the previous close of Rs 2020.65 on BSE. The small cap stock has risen 63.34% in one year and gained 12% since the beginning of this year. Total 4,000 shares of the auto component firm changed hands amounting to turnover of Rs 73.25 lakh. Market cap of the firm fell to Rs 1764.20 crore.

In terms of technicals, the relative strength index (RSI) of the stock stands at 57.5, signaling it's trading neither in the overbought zone nor in the oversold zone. Lumax Industries stock has a one-year beta of 1.1, indicating high volatility during the period. Lumax Industries shares are trading higher than the 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

The firm reported a 10.69% rise in revenue to Rs 608.10 crore in the March 2023 quarter against Rs 549.37 crore in the March 2022 quarter. However, EBITDA slipped 15% to Rs 48.92 crore in Q4 against Rs 57.44 crore in the March quarter of 2022.    

On an annual basis, net profit zoomed 153% to Rs 103.08 crore for the fiscal ended March 2023 against Rs 40.72 crore for the fiscal ended March 2022. Revenue climbed 32.44% to Rs 2319 crore in the March 2023 fiscal against Rs 1751 crore for the fiscal ended March 2022.

Lumax Industries is engaged in the business of manufacturing, trading and supply of auto components, mainly automotive lighting systems for four-wheeler and two-wheeler vehicles. It offers a range of automobile lighting systems and solutions, comprising lighting solutions for front and rear (head lamps and tail lamps), sundry and auxiliary lamps, among other lighting-related products. It also makes accessories for four-wheelers, two and three-wheelers, trucks, buses, tractors, farm equipment, and for various other diverse applications.

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