Lux Industries
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Formerly | Biswanath Hosiery Mills Ltd. (1957–1995) |
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Company type | Kolkata, West Bengal , India |
Key people | Ashok Todi (Chairman) |
Revenue | ₹ 2312 cr (FY 2021–22) |
Lux industries, previously known as Biswanath Hosiery Mills, is an Indian underwear company headquartered in Kolkata, West Bengal, India. Its offerings include various kinds of hosiery products for men, women and children. It is one of the oldest underwear companies in India.[citation needed]
History
Lux Industries was set up as the Biswanath Hosiery Mills in 1957 by the late Girdharilalji Todi. Girdharilalji's sons took over the operating responsibilities in 1964. The next 20 years saw the company growing 100 times in size through a series of marketing and manufacturing innovations. This included launching the Consumer Coupon Scheme in 1992 (Mazedar Mauka). In the same year, Lux became the first company in the industry to use celebrity
Company analysis
According to the Individual - Audited financial statement for the Year of 2010, total net operating revenues increased with 13.96%, from INR 295.77 tens of millions to INR 337.06 tens of millions. Operating result increased from INR 10.72 tens of millions to INR 12.58 tens of millions which means 17.35% change. The results of the period increased 111.48% reaching INR 4.42 tens of millions at the end of the period against INR 2.09 tens of millions last year. Return on equity (Net income/Total equity) went from 11.01% to 19.89%, the Return On Asset (Net income / Total Asset) went from 2.79% to 4.17% and the Net Profit Margin (Net Income/Net Sales) went from 0.71% to 1.31% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 378.22% compared to 296.47% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 2.48 to 3.17 when compared to the previous year. [1]
Latest news
Capital markets regulator Sebi on Monday barred 14 entities for indulging in insider trading and ordered impounding ill-gotten gains of Rs 2.94 crore in the matter of Lux Industries Ltd.
Those banned by Sebi include Udit Todi, the son of the managing director of Lux, and is currently holding the post of executive director in the company, according to an interim order.
The surveillance alert system of Sebi had detected suspicious trading pattern in the scrip of Lux around the announcement dated May 25, 2021 regarding the audited financial results for the quarter and financial year ended March 31, 2021, wherein substantial increase in profits both on a quarter-on-quarter as well as a year-on-year basis was observed. [2]
References
- ^ "Lux Industries Ltd. | India | Company Profile". www.securities.com. Archived from the original on 1 March 2013.
- ^ "Sebi bans 14 entities in Lux Industries insider trading case". Business Standard India. Press Trust of India. 25 January 2022.