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Monday, July 23, 2012

Lumax Industries Ltd:Buy/sell/growth prospects and recommendation,news and results,target and analysis,view and outlook,multibagger

Scripscan:Lumax Industries Ltd
cmp:395
Code:517206

Story:Lumax Industries offers a wide array of complete Automobile Lighting Systems and Solutions, which includes; stellar quality Head Lamps and Tail Lamps, Sundry and Auxiliary Lamps and other related products and accessories for Four Wheeler, Two Wheeler, Trucks, Buses, Earth-movers, Tractors and a variety of diverse applications.Today Lumax accounts for over 60% market share in the Indian Automobile Lighting Business, catalyzed by its over two decades strong technical and financial collaboration with Stanley Electric Company Ltd, Japan, a world leader in Vehicle Lighting and illumination products for Automobiles.Lumax Industries has been a beneficiary of the upswing in automobile sales after the slowdown of 2008-09. More so, because it caters not only to the passenger car segment but also to two-wheelers and the fast growing small LCV segment. During 2010-11, the company was roped in for new launches such as the Alto K10 (as the 100 per cent supplier) and the Toyota Etios.Another promising development was the addition of both Audi and Jaguar Land Rover to its clientele for providing LED High Mount Stop Lamps. Besides, it is bringing in LEDs in front lighting for two-wheelers, and for interior and exterior lighting in four-wheelers shortly. The company also introduced a new technology for achieving different colours without joints in the tail-lamp lens during the year, and began supply of such lamps to the Honda Jazz. It will soon be delivering these to Maruti Suzuki as well. With plastic powder and bulbs being the primary inputs, Lumax was also relatively shielded from the impact of rising price of commodities like rubber, lead, aluminium and steel during this time. However, at 22 times its trailing earnings, valuations look a bit stretched, considering that large-cap auto makers still trade at lower PE multiples. Further upside may hence be limited.

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