Lumax Auto Q3 Review - Revenue Beats; Execution Remains A Key: IDBI Capital

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IDBI Capital Report

Lumax Auto Technologies Ltd. Q3 FY21 result was ahead of our expectations on the back of better aftermarket performance and double-digit growth across all subsidiaries.

We believe positive macro factors, vaccination program in place, more cities opening up are improving sentiments are good for retail demand.

We expect domestic two-wheeler/four-wheeler industry to see double-digit growth for FY22 on a low base and the company being a supplier to have a positive impact on their revenue.

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