Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q2 FY22 Earnings Presentation
53 slides from Lumax Industries's earnings presentation, Nov 12, 2021
Slide 1: Exchange filing cover letter
LUMnx LIL:CS:IP:2021-22 Date: 12.11.2021 BSE Limited The National Stock Exchange of India Limited Listing & Compliance Department Listing & Compliance Department Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1 Block G, Dalal Street, Mumbai - 400001 Bandra Kurla Complex, Bandra (E), Mumbai - 400051 Se
Slide 2: Lumax Industries Limited Investor Presentation – Q2 FY21-22
Lumax Industries Limited Investor Presentation – Q2 FY21-22
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Lumax Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: Lumax-DK Jain Group
LUMAX Lumax-DK Jain Group % LUMAX GROUP
Slide 5: DK Jain Group
DK Jain Group 4 R&D Centres 33 Seven Decade (India) & 1 Manufacturing Strong Design Centre Facilities (Taiwan) 01 02 03 04 05 06 15 Entities Leader in Over 9,000 in 8 States Automotive Employees Lighting & Gear Shifters 4
Slide 6: Two Listed Entities
Two Listed Entities Lumax Industries Limited Lumax Auto Technologies Limited Products & Services Products & Services End-to-end Automotive Integrated Plastic modules, 2-wheeler Chassis, 2/3- Lighting Solutions wheeler Lighting, Gear Shifters, Emission systems, Transmission Products, Seat Frames, Aft
Slide 7: Purpose, Vision & Values
Purpose, Vision & Values We deliver PRIDE and PROGRESS with Our POSITIVITY Group Purpose Respect Integrity Our Passion Values Excellence Building an ADMIRED HIGH PERFORMANCE Global Organisation in Our whom all stakeholders Vision have ABSOLUTE TRUST 6
Slide 8: Diversified Product Range – 4-wheelers
Diversified Product Range – 4-wheelers Destination Boards & Urea Tanks for Commercial Vehicle Aftermarket products 7
Slide 9: Diversified Product Range – 2-wheelers
Diversified Product Range – 2-wheelers 8
Slide 10: Diversified Product Range – Commercial Vehicles
Diversified Product Range – Commercial Vehicles 9
Slide 11: Diversified Product Range – Farm Equipment Sector (FES)
Diversified Product Range – Farm Equipment Sector (FES) Revolving Lamp Rear Fender Lamp Engine lamp Head Lamp Work Lamp Front Fender Lamp 10
Slide 12: Fostering Partnerships to Deliver Excellence
Fostering Partnerships to Deliver Excellence Japan Korea Italy Relationship Since 1984 Relationship Since 1997 Relationship Since 2007 JV for lighting, HVAC panels and JV for lighting and other JV for emission systems other electronics automotive parts 50% in Lumax Cornaglia Auto 37.5% in Lumax Indu
Slide 13: Locations close to Customers
33 Locations close to Customers State Mfg Locations # Haryana Bawal 1 Dharuhera 1 Gurugram 3 Manesar 4 Maharashtra Pune 9 Waluj 3 Karnataka Bengaluru 2 Gujarat Sanand 1 Facilities Location Mehsana 1 Gurugram, Manesar, R&D Centre Tamil Nadu Sriperumbudur 1 Pune Design Centre Taiwan Andhra Anantapur 1
Slide 14: Relationships with Diversified Customers
Relationships with Diversified Customers Two Wheeler Four Wheeler Commercial Vehicle Tier 1 The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only 13
Slide 15: Relationships with Diversified Customers … Strong After Market Exports Presence
Relationships with Diversified Customers Tractor/FES Export Defence & Aero Space … Strong After Market Exports Presence The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only 14
Slide 16: Lumax Industries Limited
Lumax Industries Limited Leading the evolution in Automotive Lighting 15
Slide 17: Milestone
Milestone 1945: Founded a partnership firm 1981: Lumax Industries Pvt Limited 1994: Equity participation of ‘Globe Auto Industries’ as a Trading established after taking over Stanley, Japan in Lumax Industries concern partnership firm Globe Auto Limited Industries 1956-57: Set-up dedicated unit for
Slide 18: Competitive Advantages
Competitive Advantages Market Leaders Leadership in Lighting Partnerships With more than three & half decades of Product Portfolio partnership with Stanley, Japan, the only One of the few players with largest global auto lighting company to manufacture range of lighting solutions & LED worldwide, ha
Slide 19: Customer Mix Q2 FY22
Customer Mix Q2 FY22 Rs. in Crores Customer wise Sales Q2FY21 (Rs.376 Crores)* Customer wise Sales Q2FY22 (Rs.438 Crores)* Q2 FY21 Q2 FY22 15 , 4% 58 , 15% 104 , 24% 157 , 36% 138 , 37% 21 , 6% 6 , 1% 31 , 7% 32 , 7% 31 , 8% 48 , 13% 38 , 9% 70 , 16% 65 , 17% MSIL/SMG HMSI HML M&M TATA HCIL Others M
Slide 20: Customer Mix H1 FY22
Customer Mix H1 FY22 Rs. in Crores Customer wise Sales H1FY21 (Rs.450 Crores)* Customer wise Sales H1FY22 (Rs.740 Crores)* H1 FY21 H1 FY22 19 , 4% 73 , 16% 170 , 38% 160 , 22% 273 , 37% 16 , 2% 25 , 5% 57 , 8% 35 , 8% 61 , 8% 61 , 14% 66 , 9% 108 , 14% 66 , 15% MSIL/SMG HMSI HML M&M TATA HCIL Others
Slide 21: Q2 FY22 Segment Mix LED vs Conventional
Break-up of Revenue Q2 FY22 Segment Mix LED vs Conventional Product Mix 7% 10% 30% 34% 26% Q2 FY22 63% 64% 66% Passenger Vehicle Two Wheeler Commercial Vehicle Conventional Light LED Light Front Lighting Rear Lighting Others 9% 5% 35% 25% 35% Q2 FY21 60% 65% 66% Passenger Vehicle Two Wheeler Convent
Slide 22: H1 FY22 Segment Mix LED vs Conventional
Break-up of Revenue H1 FY22 Segment Mix LED vs Conventional Product Mix 7% 10% 29% 34% 26% H1 FY22 64% 66% 64% Passenger Vehicle Two Wheeler Commercial Vehicle Conventional Light LED Light Front Lighting Rear Lighting Others 6% 9% 33% 35% 24% H1 FY21 61% 65% 67% Passenger Vehicle Two Wheeler Convent
Slide 23: SL Lumax Limited
SL Lumax Limited Established in 1997 Associate Company with 21.28% holding FY21 Sales In partnership with SL Corporation, Korea, a multinational automotive player with presence in Rs. 1,477 Crores Asia-Pacific, Europe & US Plants in Sriperumbudur near Chennai and Anantapur in Andhra Pradesh Key Cust
Slide 24: Strong Customer Base
Strong Customer Base … Four Wheeler Two Wheeler Commercial Vehicle Export Tractor /FES … Servicing almost 90% of OE Customers in India … The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only 23
Slide 25: From Strategic Locations in Key Auto Belts of India
… From Strategic Locations … Pantnagar Dharuhera Bawal Haridwar Gurugram Chakan Manesar Chinchwad Sanand SL Lumax Ltd Anantapur, A.P. SL Lumax Ltd Chennai Bengaluru R&D Centre & Design Centre … in Key Auto Belts of India R&D Centre Gurugram Pune Map not to scale. All data, information and maps are p
Slide 26: Shareholding as of 30th September 2021
Shareholding as of 30th September 2021 Shareholding Breakup Stanley Electric Company Ltd Over three and a half decades of strong Others DK Jain technical & financial collaboration with Stanley 25.00% Family Electric Company Ltd, Japan 37.50% A world leader in Vehicle Lighting & Illumination prod
Slide 27: Promoter Group
Promoter Group Mr. Dhanesh Kumar Jain Mr. Deepak Jain Mr. Anmol Jain Chairman Emeritus Chairman & Managing Director Jt. Managing Director He is 79 years of age & holds a MBA degree from He is 46 years of age & is a Business Graduate He is 42 years of age & holds Bachelors in Delhi university &
Slide 28: Promoter Group
Promoter Group Mr. Tadayoshi Aoki Mr. Toru Tanabe Mr. Kenjiro Nakazono Senior Executive Director Non-Executive Director Executive Director He is 55 years old & is a Mechanical He is 62 years old & is a graduate He is 51 years old & is a graduate Engineering from Tokoyo Denki from Hosei univers
Slide 29: Supported by Strong Independent Directors
…Supported by Strong Independent Directors Mr. A P Gandhi Mr. Rajeev Kapoor Mr. Dhiraj Dhar Gupta Age: 83 years Age: 69 years Age: 71 years Mechanical Engineer Mechanical Engineer B.Com honours from (hons) from NIT, SRCC, Delhi University Kurukshetra He has held top leadership positions in He was MD
Slide 30: Professional & Experienced Team
Professional & Experienced Team Mr. Vineet Sahni Mr. Sanjay Mehta Mr. Naval Khanna Mr. Todd Morgan CEO & Sr Executive Director Group CFO Corporate Head – Taxation Chief Technology & Age: 56 years Age: 54 years Innovation Officer Age: 63 years Experience: over 30 Years Experience: 29 Years Age: 54 Ye
Slide 31: The Path Ahead
LUMAX The Path Ahead GROUP
Slide 32: Rear Lamp – Technology Evolution
Rear Lamp – Technology Evolution 2014 - 2016 2017 2020-23 2022-24 2025 & beyond • Penetration of • Moving from just • Animated • Diffractive Optics • OLED (Organic LED’s into Tail LED tail to full LED functionality including that provide an LED)… Ultra thin Lamps with rear lamp gliding/progressive i
Slide 33: Head Lamp – Technology Evolution
Head Lamp – Technology Evolution 2014-17 2019-21 2022 onwards • Introduction of Projector Lamps • Increasing presence of LED • LED will continue to replace with Halogen Bulbs for new headlamps. LED projectors are the halogen, with some vehicle lines vehicles launched in India by most desired appeara
Slide 34: State of Art Manufacturing Facilities
State of Art Manufacturing Facilities 33
Slide 35: In-house R&D & Validation Facility
…In-house R&D & Validation Facility 34
Slide 36: Financials
LUMNX Financials
Slide 37: Strong Growth in Total Income with Healthy Margins
Strong Growth in Total Income with Healthy Margins Standalone Results Revenue Reported EBITDA# 1,851.5 1,649.4 1,601.6 178.7 167.4 1,426.0 143.0 1,270.9 124.5 106.8 766.7 49.8 FY17 FY18 FY19 FY20 FY21 H1FY22 FY17 FY18 FY19 FY20 FY21^II H1FY22 PAT Cash PAT 167.7 135.9 107.4 111.1 72.3 87.5 81.6 63.2
Slide 38: Expansion funded through Internal Accruals
Expansion funded through Internal Accruals Standalone Results Gross Block Long Term Loan 1,214 1,252 1,266 79.0 1,047 973 812 52.9 13.0 5.0 2.7 0.0 FY17 FY18 FY19 FY20 FY21 H1FY22 FY17 FY18 FY19 FY20 FY21 H1FY22 Capex Long Term Debt / Equity 162.0 167.4 0.20 0.14 94.0 70.0 42.1 0.05 14.0 0.02 0.01 0
Slide 39: Healthy Return Ratios
Healthy Return Ratios Standalone Results ROE (%) ROCE (%) 21.6 21.1 32.0 32.0 18.0 18.8 26.0 24.0 15.1 4.3 7.7 2.4 FY17 FY18 FY19 FY20 FY21 H1FY22 FY17 FY18 FY19 FY20 FY21 H1FY22 Dividend (% of Face Value) EPS (in Rs.) 350 114.9 230 235 77.3 67.7 145 49.3 70 18.2 5.0 FY17 FY18 FY19^ FY20 FY21 FY17 F
Slide 40: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. in Crores) Q2 FY22 Q2 FY21 Y-o-Y H1 FY22 H1 FY21 Y-o-Y Manufacturing Revenue 438.4 375.9 16.6% 739.8 449.8 64.5% Molds Revenue 14.2 21.4 26.8 25.5 Total Operating Revenue 452.7 397.3 13.9% 766.7 475.3 61.3% Other Income 4.3 4.6 6.6 7.5 Total Income 457.0 4
Slide 41: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. in Crores) Sep-21 Mar-21 EQUITY & LIABILITIES Sep-21 Mar-21 Non-current assets Equity Property, plant and equipment 565.2 581.2 Capital work-in-progress 113.3 47.0 Equity Share capital 9.3 9.3 Right of use assets 29.8 30.7 Other equity 450.9 451.1 Investment pr
Slide 42: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs in Cr) H1FY22 H1FY21 PBT 7.8 -44.1 Adjustments 41.9 47.2 Operating profit before working capital changes 49.7 3.1 Changes in working capital -61.5 -34.4 Cash generated from operations -11.7 -31.3 Direct taxes paid (net of refund) 6.4 -7.3 Net Cash fro
Slide 43: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. in Crores.) Q2 FY22 Q2 FY21 Y-o-Y H1 FY22 H1 FY21 Y-o-Y Manufacturing Revenue 438.4 375.9 16.6% 739.8 449.8 64.5% Molds Revenue 14.2 21.4 26.8 25.5 Total Operating Revenue 452.7 397.3 13.9% 766.7 475.3 61.3% Other Income 4.3 4.6 6.6 7.5 Total Income 457.0 40
Slide 44: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. in Crores) Sep-21 Mar-21 EQUITY & LIABILITIES Sep-21 Mar-21 Non-current assets Equity Property, Plant and Equipment 565.2 581.2 Capital work-in-progress 113.3 47.0 Equity Share capital 9.3 9.3 Right of use assets 29.8 30.7 Other equity 386.6 387.8 Investment prop
Slide 45: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs in Cr) H1FY22 H1FY21 PBT 6.7 -37.1 Adjustments 43.0 40.2 Operating profit before working capital changes 49.7 3.1 Changes in working capital -61.5 -34.4 Cash generated from operations -11.7 -31.3 Direct taxes paid (net of refund) 6.4 -7.3 Net Cash from
Slide 46: Awards & Recognitions
LUMNX Awards & Recognitions GROUP
Slide 47: Supplier Recognition Award
Supplier Recognition Award Winner of the Best Delivery Management Award at the 22nd HMSI Supplier Convention 2021 in March 2021 Bengaluru facility was recognised for its outstanding contribution by achieving Zero Defect Supplies for the year 2020 by Toyota Kirloskar Motor Pvt. Ltd. in 2021 Won the O
Slide 48: TPM Award
TPM Award JIPM Award for Excellence in Consistent TPM Commitment Pantnagar Plant, 2019 Dharuhera Plant won JIPM-TPM award for excellence in Category A for year 2019 JIPM-TPM Excellence Award Bengaluru Plant, 2019 JIPM-TPM Excellence Award Bawal Plant, November 2017 JIPM-TPM Excellence Awar
Slide 49: ACMA Technology Summit & Awards – November 2019
ACMA Technology Summit & Awards – November 2019 Dharuhera Won the Gold Award in Excellence in Inclusive Growth - A Make in India Drive - Very Large Category Won the Bronze Award in Excellence in Manufacturing - Very Large Category Chakan won the Silver Award in Excellence in New Product Design &
Slide 50: Awards & Recognition
Awards & Recognition Won the prestigious Gold award for Top 100 best annual report for excellence within its industry for FY 2018-19 & 2019-20 Lumax Industries Limited bagged The Gold Award at ICQCC for the third year in a row in FY20 Each of our plants located at Haridwar, Bawal & Bengaluru h
Slide 51: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Quality Education’ for the society 50
Slide 52: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Good Health’ for the society 51
Slide 53: For further information, please contact:
For further information, please contact: Company: Investor Relations Advisors: Lumax Industries Limited Strategic Growth Advisors Pvt. Limited CIN: L74899DL1981PLC012804 CIN: U74140MH2010PTC204285 Ms. Priyanka Sharma Mr. Shogun Jain / Ms. Akashi Modi priyanka.sharma@lumaxmail.com shogun.jain@sgapl.n