Profit Sheets

Lux Industries Ltd soars 11%, hits new high on robust March quarter results

May 27, 2021 06:06 PM

Lux Industries Ltd soars 11%, hits new high on robust March quarter results
Lux Industries Ltd income from operations during the quarter under review jumped 49 per cent year on year (YoY) at Rs 601 crore against Rs 404 crore

Lux Industries Ltd  Concerning the current situation, Mr. Ashok Kumar Todi, Chairman said, “While demand remains strong, the supply situation is likely to be adversely impacted by disruptions from COVID-19 lockdowns in India. We will remain agile to address the challenges and drive consistent, competitive, and cash accretive growth over the medium to long term.

The export market is showing a strong traction and majority of requirement is coming towards India. Strategy towards expansion is in place to increase the manufacturing and supply chain capacity to tab the market share in the ladies and kids segment.”

Lux Industries Ltd income from operations during the quarter under review jumped 49 per cent year on year (YoY) at Rs 601 crore against Rs 404 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins improved 507 basis points (bps) at 21.45 per cent against 16.38 per cent in the year-ago quarter.

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Higher Ebitda margins were on account of an increased share of value-added products and overall cost efficiency measures, including advertisement expenditure.

The management said the performance has been driven by progressive improvement in demand and consumption across the innerwear industry. The company witnessed healthy traction for economy and mid-premium categories and saw a gradual pickup in premium and export segment.

However, the management expects the April-June quarter (Q1FY22) to be relatively weak due to the pandemic and expect to improve gradually from the second quarter. The economic recovery will be back on track in the next few months as the company had witnessed in Q2 and Q3 of FY21.

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