Lumax Inds hits 20% upper circuit

A leading maker of auto components, Lumax Industries hit the 20% upper circuit at Rs.407.40 today on the back of its scintillating Q1FY16 performance.

The company announced its performance on 24^th July and it was a great set of numbers. YoY, net sales for the first quarter was at Rs.315 crore, up 16%. Net profit more than doubled to Rs.11 crore and this is already almost 70% of entire FY15 net profit of Rs.16 crore. Clearly, if the same trend continues, it will end current fiscal on a super bumper note.

Promoters stake stands at Rs.73.63% and equity is pretty small at Rs.9.35 crore. Reserves stands at Rs.156 crore.