Business News | Lumax Q1 Revenue Jumps Four Times to Rs 314 Crore

New Delhi [India], Aug 7 (ANI): Automobile lighting major Lumax Industries has reported revenue of Rs 314 crore for Q1 FY22 as against Rs 78 crore in the same period of previous fiscal.

In Q4 FY21, however, the revenue had totalled Rs 504 crore.

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The company reported consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 9 crore and loss after tax and share of associate at Rs 10 crore in Q1 FY22 due to Covid-19 resurgence impacting operations and sales.

Lumax said the share of LED lighting stands at 34 per cent of company's total revenues while conventional lighting stands at 66 per cent.

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The segment mix for Q1 FY22 as a percentage of total revenues stood at 65 per cent for passenger vehicles, 28 per cent for two-wheelers and 7 per cent for commercial vehicles.

The company said it has received new orders worth Rs 250 crore from original equipment manufacturers for their new upcoming models as well as localisation of lamps of existing models.

Chairman and Managing Director Deepak Jain said the company has a well-defined strategy in place to drive growth and achieve profitability.

"We are making decisive investments in technology leading to the path of innovation which differentiates us from our peers and our expanding customer portfolio is example of that," he said.

Lumax has 10 manufacturing plants in the country strategically located near manufacturing locations of major OEMs. It is one of the major suppliers to Hero Motocorp, Honda Motorcycle and Scooter India, Honda Cars, Mahindra and Mahindra, Maruti Suzuki, MG Motors, Tata Motors, TVS and others.

(ANI)

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