Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q3 FY2024 Earnings Presentation
51 slides from Lumax Industries's earnings presentation, Feb 9, 2024
Slide 1: Exchange filing cover letter for investor presentation
LIL:CS:IP:2023-24 Date: 09.02.2024 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 Security
Slide 2: Lumax Industries Limited Investor Presentation – Q3 & 9M FY2024
Lumax Industries Limited Investor Presentation – Q3 & 9M FY2024
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 winx
Slide 5: DK Jain Group
DK Jain Group 3 R&D Centres 38 Seven Decade 1 Engineering Centre Manufacturing Strong 2 Design centres in Facilities Taiwan & Czech 01 02 03 04 05 06 14 Entities in 7 Leader in Over 12,000 States Automotive Lighting Employees 1 Overseas Entity Gear Shifters in Czech Republic Vehicle interior solutio
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, Transmission Products, Emission systems, Transmission Pro
Slide 7: Our Group 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 VEHICLE INTERIOR SYSTEMS & COMPONENTS 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 VEHICLE INTERIOR SYSTEMS & COMPONENTS 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 Gear Shifter 10
Slide 12: 38 Locations close to Customers
38 Locations close to Customers State Plant # Bawal 2 Dharuhera 1 Haryana Gurugram 4 Manesar 4 Pune 10 Maharashtra Waluj 2 Nashik 1 Karnataka Bengaluru 4 Facilities Location Gurugram, Manesar, Gujarat Sanand & Mehsana 3 R&D Centre Pune Tamil Nadu Sriperumbudur 1 Engineering Pune Haridwar 1 Centre Ta
Slide 13: Fostering Partnerships to Deliver Excellence
Fostering Partnerships to Deliver Excellence Japan Korea Italy Japan Relationship Since 1984 Relationship Since 1997 Relationship Since 2007 Relationship Since 2008 JV for lighting, HVAC panels and JV for lighting and other JV for emission systems JV for gear shifters other electronics automotive pa
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 … 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 – Leading the evolution in Automotive Lighting
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 Stanley, ‘Globe Auto Industries’ as a Trading established after taking over Japan in Lumax Industries Limited concern partnership firm Globe Auto Industries Manufacturing unit setup in 1956-57
Slide 18: Competitive Advantages
Competitive Advantages Market Leaders Leadership in Lighting Partnerships With four decades of partnership with Product Portfolio Stanley, Japan, the only global auto lighting One of the few players with largest company to manufacture LED worldwide, range of lighting solutions & having presence in J
Slide 19: Customer Mix Q3 FY24
Customer Mix Q3 FY24 Customer wise Sales Q3FY23 (Rs. 557 Crores)* Customer wise Sales Q3FY24 (Rs. 623 Crores)* Q3 FY23 Q3 FY24 66 , 11% 155 , 25% 70 , 13% 175 , 31% 38 , 6% 25 , 4% 34 , 5% 33 , 6% 14 , 2% 18 , 3% 16 , 3% 28 , 4% 45 , 7% 45 , 8% 72 , 12% 69 , 12% 75 , 13% 43 , 7% 35 , 6% 125 , 20% MS
Slide 20: Customer Mix 9M FY24
Customer Mix 9M FY24 Customer wise Sales 9MFY23 (Rs. 1,659 Crores)* Customer wise Sales 9MFY24 (Rs. 1,841 Crores)* 9M FY23 9M FY24 184 , 11% 105 , 6% 154 , 8% 53 , 3% 531 , 32% 501 , 27% 90 , 5% 95 , 5% 46 , 3% 53 , 3% 51 , 3% 89 , 5% 145 , 9% 144 , 8% 243 , 13% 217 , 13% 219 , 13% 316 , 17% 142 , 8
Slide 21: Break-up of Revenue 9M FY24
Break-up of Revenue 9M FY24 Segment Mix LED vs Conventional Product Mix 6% 9% 27% 36% 25% 9M FY24 67% 64% 66% Passenger Vehicle Two Wheeler Conventional Light LED Light Front Lighting Rear Lighting Others Commercial Vehicle 6% 9% 28% 34% 24% 9M FY23 66% 66% 67% Passenger Vehicle Two Wheeler Commerci
Slide 22: SL Lumax Limited
SL Lumax Limited Established in 1997 Associate Company with 21.28% holding FY23 Sales In partnership with SL Corporation, Korea, a multinational automotive player with presence in Rs. 2,437 Crores Asia-Pacific, Europe & US Plant in Sriperumbudur near Chennai Key Customers Products Lamps Head Lamp, R
Slide 23: 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 22
Slide 24: From Strategic Locations in Key Auto Belts of India
… From Strategic Locations … Dharuhera Pantnagar Bawal Haridwar Chakan Bawal – Electronic Facility Chakan II Sanand Chinchwad Sanand II SL Lumax Ltd Chennai Bengaluru R&D Centre & Design Centre Gurugram … in Key Auto Belts of India R&D Centre Pune Design Centre Taiwan & Czech Republic 23 Map not to
Slide 25: Shareholding as of 31st December 2023
Shareholding as of 31th December 2023 Shareholding Breakup Stanley Electric Company Ltd Over four decades of strong technical & Others DK Jain financial collaboration with Stanley Electric 25.00% Family Company Ltd, Japan 37.50% A world leader in Vehicle Lighting & Illumination products for Auto
Slide 26: Promoter Group
Promoter Group Mr. Dhanesh Kumar Jain Mr. Deepak Jain Mr. Anmol Jain Chairman Emeritus Chairman & Managing Director Jt. Managing Director He is 48 years of age & is a Business Graduate He is 81 years of age & holds a MBA degree from from Illinois Institute of Technology, USA with He is 44 year
Slide 27: Promoter Group
Promoter Group Mr. Tadayoshi Aoki Mr. Toru Tanabe Mr. Yoshitsugu Matsushita Senior Executive Director Non-Executive Director Non-Executive Director He is 57 years old & is a Mechanical He is 64 years old & is a graduate He is 60 years of age & has a degree Engineering from Tokoyo Denki from Ho
Slide 28: Supported by Strong Independent Directors
…Supported by Strong Independent Directors Mr. A P Gandhi Mr. Rajeev Kapoor Mr. Dhiraj Dhar Gupta Age: 85 years Age: 71 years Age: 73 years Mechanical Engineer Mechanical Engineer B.Com honours from (hons) from NIIT, SRCC, Delhi University Kurukshetra He has held top leadership positions in He has o
Slide 29: Professional & Experienced Team
Professional & Experienced Team Mr. Todd Morgan Mr. Raju B Ketkale Mr. Sanjay Mehta Mr. Vishnu Johri Mr. Naval Khanna Chief Technology & Group Head – Manufacturing & Group CFO CEO Corporate Head – Taxation Innovation Officer Corporate Planning Age: 56 years Age: 58 years Age: 65 years Age: 56 Years
Slide 30: The Path Ahead
The Path Ahead 29
Slide 31: 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 32: 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 33: State of Art Manufacturing Facilities
State of Art Manufacturing Facilities 32
Slide 34: In-house R&D & Validation Facility
…In-house R&D & Validation Facility 33
Slide 35: Financials
LUMNX Financials
Slide 36: Strong Growth in Total Income with Healthy Margins
Strong Growth in Total Income with Healthy Margins Standalone Results Revenue Reported EBITDA# 2,320 222 1,851 1,894 179 171 1,751 167 1,602 148 1,426 125 FY19 FY20 FY21 FY22 FY23 9MFY24 FY19 FY20 FY21 FY22^II FY23 9MFY24^III PAT Cash PAT 107 168 151 136 108 72 71 112 49 42 82 17 FY19^I FY20 FY21 FY
Slide 37: Expansion funded through Internal Accruals
Expansion funded through Internal Accruals Standalone Results Gross Block Long Term Loan 1,702 150 1,510 1,400 1,214 1,252 1,047 76 79 53 3 0 FY19 FY20 FY21 FY22 FY23 9MFY24 FY19 FY20 FY21 FY22 FY23 9MFY24 Capex Long Term Debt / Equity 196 0.33 167 149 136 0.18 94 0.16 0.14 42 0.01 0.00 FY19 FY20 FY
Slide 38: Healthy Return Ratios
Healthy Return Ratios Standalone Results ROE (%) ROCE (%) 21 32 19 24 25 15 20 12 17 10 15 4 FY19 FY20 FY21 FY22 FY23 9MFY24 FY19 FY20 FY21 FY22 FY23 9MFY24 Dividend (% of Face Value) EPS (in Rs.) 350 115 235 270 77 76 135 52 45 70 18 FY19^I FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22^II FY23 9MFY24^III
Slide 39: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. in Crores.) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q 9M FY24 9M FY23 Y-o-Y Manufacturing Revenue 623.5 557.1 633.3 1,841.0 1,658.5 Molds Revenue 8.2 22.3 10.5 52.9 52.9 Total Operating Revenue 631.7 579.4 9.0% 643.8 -1.9% 1,893.9 1,711.4 10.7% Other Income 28.0 1
Slide 40: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. in Crores) Sep-23 Mar-23 EQUITY & LIABILITIES Sep-23 Mar-23 Non-current assets Equity Property, plant and equipment 663.6 685.9 Equity Share capital 9.3 9.3 Capital work-in-progress 178.5 43.0 Right of use assets 36.7 39.4 Other equity 478.0 472.1 Investment prop
Slide 41: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. in Crores.) H1FY24 H1FY23 PBT 47.1 59.4 Adjustments 61.1 52.9 Operating profit before working capital changes 108.2 112.3 Changes in working capital -98.3 -44.8 Cash generated from operations 9.8 67.5 Direct taxes paid (net of refund) 10.7 11.0 Net Cas
Slide 42: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. in Crores.) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q 9M FY24 9M FY23 Y-o-Y Manufacturing Revenue 623.5 557.1 633.3 1,841.0 1,658.5 Molds Revenue 8.2 22.3 10.5 52.9 52.9 Total Operating Income 631.7 579.4 9.0% 643.8 -1.9% 1,893.9 1,711.4 10.7% Other Income 1.5 1
Slide 43: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. in Crores) Sep-23 Mar-23 EQUITY & LIABILITIES Sep-23 Mar-23 Non-current assets Equity Property, plant and equipment 667.9 690.3 Equity Share capital 9.3 9.3 Capital work-in-progress 178.5 43.0 Other equity 598.9 574.2 Right of use assets 36.7 39.4 Sub-total - S
Slide 44: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in Crores.) H1FY24 H1FY23 PBT 71.9 75.3 Adjustments 37.1 37.0 Operating profit before working capital changes 109.0 112.3 Changes in working capital -92.5 -44.8 Cash generated from operations 16.5 67.5 Direct taxes paid (net of refund) 10.7 11.0 Net
Slide 45: Awards & Recognitions
Lumax™ Awards & Recognitions DK JAIN GROUP
Slide 46: Supplier Recognition Award
Supplier Recognition Award Lumax Industries received the Human Resource Certificate on account of successful implementation of Fixed Term Employment at Plants in MSVC 2023 hosted by Maruti Suzuki India Ltd at Dubai on 1st - 2nd May, 2023. 45
Slide 47: 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 48: 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, 2020-21 & 2021-22 The company bagged The Gold Award at ICQCC for the fifth year in a row in FY22 Each of our plants located at Haridwar, Bawal & Bengal
Slide 49: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Quality Education’ for the society 48
Slide 50: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Good Health’ for the society 49
Slide 51: 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 / Mr. Sagar Shroff priyanka.sharma@lumaxmail.com shogun.jain@sgapl.