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Company Overview
Introduction:
- Established in 2009, Lava International Limited is a key player in the mobile handset industry, headquartered in Noida, India. It originated from a telecommunications venture by Hari Om Rai, Sunil Bhalla, Shailendra Nath Rai, and Vishal Sehgal.
Global Presence:
- Operates in countries including Thailand, Nepal, Bangladesh, Sri Lanka, Indonesia, Mexico, and the Middle East.
- Initiated Africa operations in Egypt in 2016 and is expanding further on the continent.
Market Leadership:
- 4th largest in India
- 2nd largest in Thailand
- 3rd largest in Sri Lanka
- 5th largest in Bangladesh
Business Expansion:
- Operations span across India, South East Asia, the Middle East, and North America.
Product Portfolio:
- Design Capability: Strong in industrial, mechanical, hardware, and software design.
- Brands: Operates under Lava and Xolo.
- Guiding Principle: “Create Possibilities” with a goal to become the first global consumer brand from India.
- Product Range: Includes tablets, feature phones, and smartphones. Offers models in bar and touch form factors at various price points.
- Portfolio Optimization: Streamlined from 50 products to less than 15 (five smartphones and nine feature phones).
Manufacturing and Research Facilities:
- Manufacturing Plants: Two in India.
- In-house Capabilities: Only Indian brand designing devices domestically and conducting PCB SMT in-house.
- Research and Development: In-house R&D center for innovation and product development.
Fundamentals
| Metric | Value | Metric | Value |
|---|---|---|---|
| Current Price | ₹ 55 | Market Cap (in Cr.) | ₹ 2976 |
| Debt to Equity | 0.14 | Face Value | ₹ 5 |
| Book Value | 42.27 | ROE (%) | 8.17 |
| P/B | 1.3 | P/E Ratio | 16 |
| PAN Number | AABCL5987H | EPS | 3.45 |
| ISIN | INE745X01022 | No. Of Shares (in Cr.) | 270.56 |
Promoters & Managements
| Name | Designation |
|---|---|
| Hari Om Rai | Chairman & MD |
| Sunil Raina | Director |
| Sachin Nandwani | CFO |
Profit & Loss Statement
| Metric | 2021 | 2022 |
|---|---|---|
| Revenue | 5523.67 | 5898 |
| Cost of Material Consumed | 1154.6 | 1147.37 |
| Gross Margins (%) | 79.06 | 80.48 |
| Change in Inventory | -127.33 | -103.78 |
| Employee Benefit Expenses | 190.22 | 212.27 |
| Other Expenses | 4054.96 | 4298.11 |
| EBITDA | 240.42 | 323.67 |
| Operating Profit Margin (OPM) (%) | 4.36 | 5.51 |
| Other Income | 10.8 | 20.36 |
| Finance Cost | 28.57 | 44.11 |
| Depreciation & Amortization (D&A) | 39.03 | 96.71 |
| EBIT | 201.39 | 226.96 |
| EBIT Margins (%) | 3.65 | 3.86 |
| Profit Before Tax (PBT) | 183.42 | 203.11 |
| PBT Margins (%) | 3.33 | 3.46 |
| Tax | 10.82 | 16.24 |
| Profit After Tax (PAT) | 172.6 | 186.87 |
| Net Profit Margin (NPM) (%) | 3.13 | 3.18 |
| Earnings Per Share (EPS) | 6.91 | 3.45 |
Financial Ratios
| Metric | 2021 | 2022 |
|---|---|---|
| Operating Profit Margin (%) | 4.36 | 5.51 |
| Net Profit Margin (%) | 3.13 | 3.18 |
| Earnings Per Share (Diluted) | 6.91 | 3.45 |
Balance Sheet: Assets
| Asset Category | 2021 | 2022 |
|---|---|---|
| Fixed Assets | 119.14 | 161.96 |
| CWIP | 3.27 | 56.86 |
| Investments | 13.05 | 75.62 |
| Trade Receivables | 1162.41 | 1292.11 |
| Inventory | 443.86 | 682.87 |
| Other Assets | 688.02 | 1123.92 |
| Total Assets | 2429.75 | 3393.34 |
Balance Sheet: Liabilities
| Liability Category | 2021 | 2022 |
|---|---|---|
| Share Capital | 124.86 | 270.56 |
| FV | 5 | 5 |
| Reserves | 1461.34 | 2016.75 |
| Borrowings | 103.12 | 322.41 |
| Trade Payables | 508.18 | 515.76 |
| Other Liabilities | 232.26 | 267.86 |
| Total Liabilities | 2429.76 | 3393.34 |
| Cash Flow Component | 2021 | 2022 |
|---|---|---|
| Cash Generated From Operations | 180.77 | 94.4 |
| Tax | -28.99 | -39.06 |
| Cash Flow From Operations | 151.78 | 55.34 |
| Purchase of PPE | -68.44 | -191.03 |
| Sale of PPE | 0.43 | 0.01 |
| Cash Flow From Investment | -95.14 | -210.98 |
| Borrowing | -21.75 | 65.14 |
| Equity | 0 | 102 |
| Others From Financing | -27.34 | -2.84 |
| Cash Flow From Financing | -49.09 | 164.3 |
| Net Cash Generated | 7.55 | 8.66 |
| Cash at the Start | 18.63 | 23.87 |
| Cash at the End | 26.18 | 32.53 |
Share Holding Pattern
| Category | 2021 | 2022 |
|---|---|---|
| Promoters | 85.95% | 79.33% |
| Others | 14.05% | 20.67% |
Frequently Asked Questions (FAQ)
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