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Swing Capital

Lux Industries Ltd

NSE: LUXIND BSE: 539542

Lux Industries Limited was incorporated in 1995 having a market share of 15% of the organised industry. It is the largest mid-segment hosiery enterprise in India.Company is engaged in the manufacturing and marketing of innerwear, thermals, and casuals under various brands, with ‘LUX’ being its flagship brand. [1]

₹1,330
52W: ₹805 — ₹1838
PE 35.2 · Book ₹596 · +123% vs book
Market Cap₹3,998 Cr
Stock P/E35.2Price to Earnings
ROCE12.5%Return on Capital
ROE9.81%Return on Equity
Div. Yield0.15%Face Value ₹2

Weaknesses

  • −The company has delivered a poor sales growth of 9.15% over past five years.
  • −Company has a low return on equity of 9.67% over last 3 years.
  • −Dividend payout has been low at 6.37% of profits over last 3 years

Shareholding Pattern

Promoters74.19%
FIIs0.74%
DIIs4.76%
Public20.3%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.19%74.19%74.19%74.19%74.19%74.19%74.19%74.19%
FIIs0.84%1.14%▲0.31.24%▲0.11.21%▼0.00.96%▼0.30.95%▼0.00.89%▼0.10.74%▼0.2
DIIs4.83%4.84%▲0.04.82%▼0.04.84%▲0.04.88%▲0.04.89%▲0.04.88%▼0.04.76%▼0.1
Public20.14%19.81%▼0.319.75%▼0.119.76%▲0.019.97%▲0.219.97%20.03%▲0.120.3%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales638452708535671553819604779673
Expenses580416632490608503743569735636
Operating Profit58367645635076354436
OPM %9%8%11%8%9%9%9%6%6%5%
Net Profit38215635513348242413
EPS ₹12.756.9718.6111.4916.8710.8516.027.957.934.43

AI Insights

Revenue Trend

TTM revenue at ₹2,875Cr, up 11.5% YoY. OPM at 7%.

Debt Position

Borrowings at ₹518Cr. Debt-to-equity ratio: 0.29x. Healthy balance sheet.

Capex Cycle

CWIP at ₹13Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 4.76% (-4.20pp change). FIIs: 0.74% (-1.44pp change). Promoters hold 74.19%.

Margin & Efficiency

ROCE declining from 22% (Mar 2014) to 13% (Mar 2025). Working capital days: 169.

Valuation

PE 35.2x with 12.5% ROCE. Price is 123% above book value of ₹596. Dividend yield: 0.15%.

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