Lux Industries Ltd reports 50% YoY growth in Q2

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Guwahati: Major hosiery producer/exporter Lux Industries Ltd has posted a profit after tax (PAT) of Rs 100.04 crore, which marks a year-on-year growth of 50 percent, in the quarter ending September 30 of the current fiscal.

The key highlights of the company’s unaudited financial results for the quarter and half-year ended September 30, 2021, are as follows:

The revenue of Rs 630.86 crore shows a y-o-y growth of 25 percent: the EBIDTA of Rs 141 crore marks a y-o-y growth of 44 percent: the PAT of Rs 100.04 50 percent, according to a company press statement

Commenting on the financial results, Ashok Kumar Tod, Chairman, Lux Industries Ltd. said, “Lux is one of the leading organized players m the industry has enhanced its operating efficiencies and was well poised to grab the market share across the product challenging situations, we had a fill rate of 95 percent against an industry average of 80 percent, which is a testament to our well-penetrated distribution network and strategic relationships.”

He further said, “During the quarter gone by we have also witnessed significant green shoots in demand due to the lifting of lockdown restrictions in most States, accelerated vaccination drives, growth in e-commerce, and resumption crore shows a y-o-y growth of in the global supply chain.

On his part, Pradip Kumar Todi, Managing Director, Lux Industries Ltd, said, “We have reported a strong performance in the first half of FY22 with our revenues growing by 28 percent year-on-year driven by healthy demand traction across all our product categories. The rising adoption of branded innerwear products across our customer base has led to our revenue from economy and mid-premium categories increasing by 16 percent and 25 percent respectively as compared to the same period last year.”

He added, “Our broad-based growth was accompanied by a rise in our EBITDA and PAT margins at 22.05 percent and 15.57 percent respectively. which is one of the highest in the industry. Our plan to incur a capital expenditure of Rs 110 crore is on track. We will continue the journey of investing in innovation and capability in a building that will yield our gains in market share and operating model efficiency.

Meanwhile, the board of directors at its meeting held recently has declared an interim dividend of 600 percent, Le Rs 12 per equity share.