Luminex Limited, a leader in Telecommunication Engineering Electrical Engineering Low Tension and High-Tension Electrical Engineering delivered an exceptional financial performance for FY2021/22 by recording an impressive growth in profitability despite the prevailing market volatility and challenging external operating environment.
Luminex reported a turnover of LKR3,121 million for the financial year ended 31st March 2022 up 22 % from the LKR2,554 million achieved in the previous year. Profit increased by 64% to reach LKR 489 Mn in 2022 compared to LKR 299Mn in the previous year.
The Net Profit Ratio also increased from 12% in the previous year to 16% in the current year. Adjusted EPS has also increased from 1.81 per share to 2.94 per share.
Meanwhile EBIT increased by 49.27% from LKR 423Mn in 2021 to LKR 632Mn in 2022. Further Price Earning ration stands at 2.72 time as at 31st March 2022.
Commenting on the recently concluded IPO, Ruwan Fernando – Managing Director of Luminex said: “We are very pleased with the successful oversubscription of the recent IPO and our outstanding financial results despite the grave challenges facing the nation. The company’s strong reputation in the construction, engineering and technology sector and its prudent financial management supported its growth trajectory during the year. Our plans to expand operations beyond the shores of Sri Lanka are taking shape. Looking to the future, the company has commenced discussions with foreign parties to extend their business activities by collaborating with outside parties to grow the business beyond their current geographical area and also to find a solution to mitigate the impact of the current economic crisis.
Inspired by its success within Sri Lanka, the Company plans to expand the operations in the Middle East and expand its geographical footprint further in the near future. Functioning as a pioneering presence in Sri Lanka’s engineering and technology sphere, Luminex is a profitable entity that is geared for growth and counts top companies as clients. It is the primary telecommunication engineering services provider for Sri Lanka Telecom and Dialog Axiata, and a civil engineering service provider for the National Water Supply & Drainage Board and the Ministry of Defense and many private and public sector clients.
Driving breakthroughs in the Telecommunication and Electrical Engineering and the Power Generation sector, the Company is ISO-certified 9001: 2015 Quality Management Certification awarded by DET NORSKE VERITAS (DNV) and EMI 1 ranked by CIDA, which is the highest ranking possible. The Company’s operations are backed by a 500-strong technical workforce across 8 operations centers and 29 project offices.