Lux Industries Ltd continues the growth streak with 49% rise in sales for Q4
- Lux Industries Ltd has a single-point agenda on investment in its people and IT. Corporate governance is at the topmost agenda measures are being taken for adequate Internal Controls.
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.”
Commenting on the Financial Results, Mr. Pradip Kumar Todi, Managing Director said, “Revenue for the quarter is at an all-time high with a top line of around 601 Crore with a growth of 49.02%. EBITDA has shown a record growth and stands at Rs. 128.96 Crores an accelerated growth @ 95.16%, while PAT stands at Rs. 90.64 Crores with the growth of 118.46% respectively for Q4 FY 21. This is mainly attributed to the simultaneous volume and pricing growth across product segments.”
Mentioning the Results and way forward Mr. Saurabh Bhudolia, CFO said, “During the FY 2021, Top line stands at around 1965 Crore with a growth of 17% and PAT has grown @52% with an absolute number of around 269 Crore. Company has generated an operating cash flow of Rs. 388.54 Crore out of which around Rs. 66.11 crore has been used for Capex and around Rs. 112.04 crore to repay the borrowings. On the closing date, the company has a net cash balance of Rs. 84.69 crore, and Gross Cash and Cash Equivalents stands at 261.43 Crore. Our working capital days were reduced to 122 days as compared to 160 days for the FY ended 2020. Our prudent financial decisions have helped us reduce our debt and become a net cash company.”
Lux Industries Ltd has a single-point agenda on investment in its people and IT. Corporate governance is at the topmost agenda measures are being taken for adequate Internal Controls.
Lux which is a dominant player in the men’s innerwear segment is also accelerating its growth driver via new expansions to capture the market share in the ladies and kids segment. With the business of Genx and Lyra getting merged into Lux, the company will have a larger product offering that also offers premium innerwear under the brand ONN and ONE8. Post-merger Lux Industries Ltd. would be among the top companies in terms of volume pan India wise reaching up to 300 million pieces for FY 2021.
Online sales which had more than doubled in the last few quarters and continuously showing this same growth trajectory and is expected to reach to Rs. 100cr mark within next 3 to 4 years. EBOs under the name of Cozy World are the new offerings which will again help to accelerate and achieve the vision.
Disclaimer: This is a company press release. No HT journalist was involved in the creation of this content.