Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q4 FY2024 Earnings Presentation
52 slides from Lumax Industries's earnings presentation, May 26, 2024
Slide 1: Exchange filing cover letter for investor presentation
LIL:CS:IP:2024-25 Date: 26.05.2024 BSE Limited 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 Cod
Slide 2: Lumax Industries Limited Investor Presentation – Q4 & FY2024
Lumax Industries Limited Investor Presentation – Q4 & FY2024 1
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
x DK JAIN Lumax” ss Lumax-DK Jain Group
Slide 5: DK Jain Group
DK Jain Group 6 Engineering Centres 38 in India, Taiwan & Seven Decade Strong Manufacturing Czech Republic Facilities 01 02 03 04 05 06 15 Entities in 7 States Leader in Automotive Over 12,000 ( 1 Overseas Entity in Lighting Gear Shifters Employees Czech Republic) Vehicle interior solutions 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, Lighting Solutions 2/3-wheeler Lighting, Gear Shifters, Transmission Products, Emission Systems, Transmission Prod
Slide 7: Our Group Purpose, Vision & Values
Purpose, Vision & Values We deliver PRIDE and Our PROGRESS with 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 CAR CARE 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 VEHICLE INTERIOR SYSTEMS & PLASTIC FUEL TANKS COMPONENTS 9
Slide 11: Diversified Product Range – Farm Equipment Sector
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 13 The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only
Slide 15: Relationships with Diversified Customers
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 1981: Lumax Industries Pvt Limited established after 1994: Equity participation of Stanley, Japan in 1945: Founded a partnership firm ‘Globe Auto taking over partnership firm Globe Auto Industries Lumax Industries Limited Industries’ as a Trading concern 1984: TA signed with Stanley, Japan
Slide 18: Competitive Advantages
Competitive Advantages Market Leaders Leadership in Lighting Partnerships Product Portfolio With four decades of partnership with Stanley, Japan, the only global auto lighting One of the few players with company to manufacture LED worldwide, largest range of lighting solutions having presence in Jap
Slide 19: Customer Mix Q4 FY24
Customer Mix Q4 FY24 Customer wise Sales Q4FY23 (Rs. 570 Crores)* Customer wise Sales Q4FY24 (Rs. 718 Crores)* Q4 FY23 Q4 FY24 174, 24% 51, 9% 62, 9% 31, 5% 186, 33% 40, 6% 29, 5% 41, 6% 18, 2% 15, 3% 36, 5% 21, 4% 90, 13% 51, 9% 67, 9% 56, 10% 48, 7% 89, 16% 143, 20% 40, 7% MSIL/SMG HMSI HML M&M MS
Slide 20: Customer Mix FY24
Customer Mix FY24 Customer wise Sales FY23 (Rs. 2,228 Crores)* Customer wise Sales FY24 (Rs. 2,559 Crores)* FY23 FY24 207, 9% 181, 7% 690, 27% 84, 4% 731, 33% 143, 6% 122, 5% 142, 6% 64, 3% 73, 3% 75, 3% 126, 5% 333, 13% 199, 9% 223, 9% 306, 14% 275, 12% 458, 18% 191, 7% 164, 7% MSIL/SMG HMSI HML M&
Slide 21: Break-up of Revenue FY24
Break-up of Revenue FY24 Segment Mix LED vs Conventional Product Mix 27% 6% 9% 39% 25% 68% 61% 66% FY24 Passenger Vehicles Two Wheelers Conventional Light LED Light Front Lighting Rear Lighting Others Commercial Vehicles 7% 35% 9% 27% 25% 67% 65% 66% FY23 Passenger Vehicles Two Wheelers Conventional
Slide 22: SL Lumax Limited
SL Lumax Limited Established in 1997 Associate Company with 21.28% holding FY24 Sales In partnership with SL Corporation, Korea, a Rs. 2,703 Crores multinational automotive player with presence in Asia-Pacific, Europe & US Plant in Sriperumbudur near Chennai Key Customers Products Lamps Head Lamp, R
Slide 23: Strong Customer Base
Strong Customer Base … Commercial Four Wheeler Two Wheeler Export Vehicle Tractor /FES … Servicing almost 90% of OE Customers in India … 22 The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only
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 March 2024
Shareholding as of 31st March 2024 Shareholding Breakup Stanley Electric Company Ltd Almost four decades of strong technical & financial collaboration with Stanley Electric Others DK Jain Company Ltd, Japan 25.00% Family 37.50% A world leader in Vehicle Lighting & Stanley Illumination products f
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 81 years of age & holds a MBA degree He is 49 years of age & is a Business Graduate from Illinois He is 45 years of age & holds Bachelors in from Delh
Slide 27: Promoter Group
Promoter Group Mr. Tadayoshi Aoki Mr. Tomohiro Kondo Mr. Yoshitsugu Matsushita Senior Executive Director Non-Executive Director Non-Executive Director He is 57 years old & is a Mechanical He is 58 years old & is a university He is 60 years of age & has a Engineering from Tokoyo Denki graduate
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 over 45 years of experience in Automotive
Slide 29: Professional & Experienced Team
Professional & Experienced Team Mr. Raju B Ketkale Mr. Sanjay Mehta Mr. Vishnu Johri Mr. Naval Khanna Mr. Todd Morgan Group Head – Manufacturing & Group CFO CEO Corporate Head – Taxation Chief Technology & Corporate Planning Age: 57 years Age: 58 years Age: 66 years Innovation Officer Age: 59 years
Slide 30: The Path Ahead
LUMNX The Path Ahead DK JAIN GROUP
Slide 31: Head Lamp – Technology Evolution
Head Lamp – Technology Evolution 2014-18 2019-23 2024 onwards • Introduction of Projector Lamps with Halogen Bulbs • Increasing presence of LED • LED will continue to replace halogen, with for new vehicles launched in India by more number of headlamps. LED projectors are the most some vehicle lines
Slide 32: Signal Lamp – Technology Evolution
Signal Lamp – Technology Evolution 2014 - 2016 2017 2020-23 2022-24 2025 & beyond • Penetration of LED’s into • Moving from just LED tail to • Animated functionality • Micro -Optics and advanced • OLED (Organic LED)… Ultra Tail Lamps with introduction full LED rear lamp including materials that prov
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 DK JAIN GROUP
Slide 36: Strong Growth in Total Income with Healthy Margins
Strong Growth in Total Income with Healthy Margins Standalone Results Revenue Reported EBITDA# 2,637 266 2,320 222 1,851 1,751 179 1,602 167 1,426 148 125 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22^II FY23 FY24 PAT Cash PAT 107 178 168 86 151 136 72 71 112 49 82 17 FY19^I FY20 FY21 FY22^II FY
Slide 37: Expansion funded through Internal Accruals
Expansion funded through Internal Accruals Standalone Results Gross Block Long Term Loan 1,734 154 1,510 1,400 1,214 1,252 1,047 76 79 53 3 0 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 Capex Long Term Debt / Equity 228 0.3 167 149 0.2 136 0.2 0.1 94 42 0.0 0.0 FY19 FY20 FY21 FY22 FY
Slide 38: Healthy Return Ratios
Healthy Return Ratios Standalone Results ROE (%) ROCE (%) 21 32 19 24 25 15 12 13 17 17 15 4 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 Dividend (% of Face Value) EPS (in Rs.) 350 350 115.0 270 92.1 235 77.0 76.0 52.0 135 70 18.0 FY19^I FY20 FY21 FY22 FY23 FY24* FY19 FY20 FY21 FY22^
Slide 39: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. in Crores.) Q4 FY24 Q4 FY23 Y-o-Y Q3 FY24 Q-o-Q FY24 FY23 Y-o-Y Manufacturing Revenue 718.3 569.7 623.5 2,559.3 2,228.2 Molds Revenue 24.4 38.4 8.2 77.3 91.3 Total Operating Revenue 742.7 608.1 22.1% 631.7 17.6% 2,636.6 2,319.5 13.7% Other Income 5.1 4.5 28.
Slide 40: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. in Crores) Mar-24 Mar-23 EQUITY & LIABILITIES Mar-24 Mar-23 Non-current assets Equity Property, plant and equipment 833.5 685.9 Equity Share capital 9.3 9.3 Capital work-in-progress 177.1 43.0 Other equity 530.8 472.1 Right of use assets 107.8 39.4 Investment pro
Slide 41: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. in Crores.) FY24 FY23 PBT 126.1 107.4 Adjustments 108.0 103.3 Operating profit before working capital changes 234.1 210.7 Changes in working capital -85.1 -75.5 Cash generated from operations 149.0 135.2 Direct taxes paid (net of refund) 16.2 24.5 Net
Slide 42: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. in Crores.) Q4 FY24 Q4 FY23 Y-o-Y Q3 FY24 Q-o-Q FY24 FY23 Y-o-Y Manufacturing Revenue 718.3 569.7 623.5 2,559.3 2,228.2 Molds Revenue 24.4 38.4 8.2 77.3 91.3 Total Operating Income 742.7 608.1 22.1% 631.7 17.6% 2,636.6 2,319.5 13.7% Other Income 5.3 4.5 1.
Slide 43: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. in Crores) Mar-24 Mar-23 EQUITY & LIABILITIES Mar-24 Mar-23 Non-current assets Equity Property, plant and equipment 836.1 690.3 Equity Share capital 9.3 9.3 Capital work-in-progress 177.7 43.0 Other equity 662.2 574.2 Right of use assets 113.9 39.4 Sub-total -
Slide 44: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in Crores.) FY24 FY23 PBT 159.2 149.1 Adjustments 77.4 61.6 Operating profit before working capital changes 236.6 210.7 Changes in working capital -88.1 -78.6 Cash generated from operations 148.4 132.2 Direct taxes paid (net of refund) 16.0 24.5 Net
Slide 45: Awards & Recognitions
LUMNX Awards & Recognitions DK JAIN GROUP
Slide 46: Supplier Recognition – MSVC 2024
Supplier Recognition – MSVC 2024 Lumax Group at Maruti Suzuki Vendor Conference 2024 won the Supplier Collaboration Initiatives Award 45
Slide 47: Supplier Recognition Award
Supplier Recognition Award Lumax Industries received the Human Resource Certificate Lumax Industries limited has on account of successful received the Electrical Proprietary implementation of Fixed Term Commodity Award at the Mahindra Employment at Plants in Supplier Excellence Awards in MSVC 2023 h
Slide 48: TPM Award
TPM Award JIPM Award for TPM Excellence - Category A - Chakan plant, 2023 JIPM Award for Excellence in Consistent TPM Commitment - Bengaluru plant, 2023 JIPM Award for Excellence in Consistent TPM Commitment Pantnagar Plant, 2019 Dharuhera Plant won JIPM-TPM award for excellence in Category
Slide 49: 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 & 2022-23 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
Slide 50: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Quality Education’ for the society 49
Slide 51: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Good Health’ for the society 50
Slide 52: 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.