Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q4 FY2021 Earnings Presentation
64 slides from Lumax Industries's earnings presentation, Jun 12, 2021
Slide 1: Cover letter to stock exchanges
Lumax®™ LIL:CS:IP:2021-22 Date : 12.06.2021 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, uae Bandra (E), Mumba — 400
Slide 2: Investor Presentation – Q4 & FY 2021
Lumax Industries Limited Investor Presentation – Q4 & FY 2021
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: 75 Glorious Years of Lumax DK Jain Group
75 Glorious Years of Lumax DK Jain Group 3
Slide 5: DK Jain Group
DK Jain Group Leader in Automotive Lighting & Seven Decade Strong Gear Shifters 15 Entities in 8 States 33 Manufacturing Facilities 4 R&D Centres (India) Over 9,000 Employees & 1 Design Centre (Taiwan) 4
Slide 6: Two Listed Entities
Two Listed Entities Lumax Industries Limited Group Revenue Break Up (%) Products & Services FY21 Revenue of Rs. 2,700 Cr End-to-end Automotive Lighting Solutions HVAC Panels and other electronic components Partnerships • Stanley – Japan 6% 53% • SL Corporation - Korea Lumax Auto Technologies Limited
Slide 7: Purpose, Vision & Values
Purpose, Vision & Values LUMAX # DK JAIN OUR GROUP PURPOSE We celiver pride and progress wih positivity Lumax” Lumax* OUR VALUES Resvect Integrity Passion Excellence Lumax OUR VISION Baising iadmired high performance hal organisation ir vebom all s# keh olds have absolute trust. DK JAIN
Slide 8: Diversified Product Range – 4-wheelers & CV
Diversified Product Range – 4-wheelers & CV Telematics Products & Services Antennas HVAC Panel Transmission Products 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 JV FOR LIGHTING, HVAC PANELS JV FOR LIGHTING AND OTHER JV FOR EMISSION SYSTEMS AND OTHER ELECTRONICS AUTOMOTIVE PARTS Relationship Since 1984 Relationship Since 1997 Relationship Since 2007 37.5% in Lumax 78.72% in SL Lumax 50% in Lumax
Slide 13: Fostering Partnerships to Deliver Excellence
Fostering Partnerships to Deliver Excellence ISRAEL SPAIN JAPANJV FOR SALE OF TELEMATICS PRODUCTS AND SERVICES JV FOR OXYGEN SENSORS Relationship Since 2017 Relationship Since 2017 50% in Lumax Ituran Telematics Pvt. Ltd. Relationship Since 2014 49% in Lumax FAE Technologies Pvt. Ltd. GERMANY JAPAN
Slide 14: 33 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 Anantpur 1
Slide 15: Enhanced 360° Customer View
Enhanced 360°Customer View Understand the Customer A real understanding of varying customer needs & the capability to deliver outstanding results Environmental Conscious Experienced Team Environment-conscious work Highly Qualified & Experienced practices workforce of dedicated professionals Te
Slide 16: 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 15
Slide 17: 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 16
Slide 18: Lumax Industries Limited
Lumax Industries Limited Driving Leadership in Automotive Lighting
Slide 19: Milestone
Milestone 1985: Setup a manufacturing unit in 1981: Lumax Industries Gurugram, Haryana. Pvt Limited established The company went 1945: Founded a after taking over partnership firm public & is listed on partnership firm Globe the stock exchange 1997-98 ‘Globe Auto Industries’ Auto Industries as a Tra
Slide 20: Milestone
Milestone …2005 -2020 a period of strategic expansion 2010: Setup a manufacturing plant in Haridwar, Uttarakhand 2007: Further Equity 2018-20 participation by Stanley, 2011: Setup Japan manufacturing plants in Bawal, Haryana; Sanand, 2008: Setup Gujarat & Bidadi, manufacturing plant in Karnataka. Al
Slide 21: 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 22: Product Mix Q4FY21
Product Mix Q4FY21 Product wise Sales Q4FY20 (Rs. 334 Crores)* Product wise Sales Q4FY21 (Rs. 490 Crores)* 10% 10% 24% 25% 66% 65% Front Lighting Rear Lighting Others Front Lighting Rear Lighting Others Front Lighting – Head Lamp & Fog Lamp Rear Lighting –Tail Lamp & High Mount Stop Lamp * Excludes
Slide 23: Product Mix FY21
Product Mix FY21 Product wise Sales FY20 (Rs. 1,471 Crores)* Product wise Sales FY21 (Rs. 1,375 Crores)* 9% 9% 25% 25% 66% 66% Front Lighting Rear Lighting Others Front Lighting Rear Lighting Others Front Lighting – Head Lamp & Fog Lamp Rear Lighting –Tail Lamp & High Mount Stop Lamp * Excludes Moul
Slide 24: Segment Mix Q4FY21
Segment Mix Q4FY21 Segment wise Sales Q4FY20 (Rs. 334 Crores)* Segment wise Sales Q4FY21 (Rs. 490 Crores)* 5% 6% 28% 32% 62% 67% Passenger Vehicles 2-Wheelers Commercial Vehicles Passenger Vehicles 2-Wheelers Commercial Vehicles * Excludes Mould Sales 23
Slide 25: Segment Mix FY21
Segment Mix FY21 Segment wise Sales FY20 (Rs. 1,471 Crores)* Segment wise Sales FY21 (Rs. 1,375 Crores)* 5% 6% 29% 32% 66% 62% Passenger Vehicles 2-Wheelers Commercial Vehicles Passenger Vehicles 2-Wheelers Commercial Vehicles * Excludes Mould Sales 24
Slide 26: Customer Mix Q4FY21
Customer Mix Q4FY21 Customer wise Sales Q4FY20 (Rs. 334 Crores)* Customer wise Sales Q4FY21 (Rs. 490 Crores)* 116 , 24% 162 , 33% 130 , 39% 71 , 21% 10 , 3% 20 , 4% 17 , 5% 33 , 7% 29 , 9% 40 , 8% 73 , 15% 30 , 9% 47 , 14% 45 , 9% Figures in Rs. Crores MSIL/SMG HMSI HML M&M TATA HCIL Others MSIL/SMG
Slide 27: Customer Mix FY21
Customer Mix FY21 Customer wise Sales FY20 (Rs. 1,471 Crores)* Customer wise Sales FY21 (Rs. 1,375 Crores)* 275 , 19% 561 , 38% 271 , 20% 489 , 36% 63 , 4% 57 , 4% 92 , 7% 78 , 5% 115 , 8% 133 , 9% 143 , 217 , 152 , 11% 199 , 14% 10% 15% Figures in Rs. Crores MSIL/SMG HMSI HML M&M TATA HCIL Others M
Slide 28: LED Lighting vs Conventional Lighting
LED Lighting vs Conventional Lighting Product wise Sales FY20 (Rs. 1,471 Crores)* Product wise Sales FY21 (Rs. 1,375 Crores)* 34% 34% 66% 66% Conventional Lighting LED Lighting Conventional Lighting LED Lighting * Excludes Mould Sales 27
Slide 29: SL Lumax Limited
SL Lumax Limited SL Lumax Limited Associate Company with 21.28% holding Sales Plants in Sriperumbudur near Chennai and FY21 – Rs. 1,477 Crores Anantapur in Andhra Pradesh In partnership with SL Corporation, Korea, a multinational automotive player with presence in Asia-Pacific, Europe & US Key Custo
Slide 30: Strong Customer Base
Strong Customer Base … Four Wheeler Two Wheeler Commercial Vehicle Export Tractor /FES … Servicing almost 90% of OE Customers in India … 29 The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only
Slide 31: From Strategic Locations in Key Auto Belts of India
… From Strategic Locations … Pantnagar Dharuhera Bawal Haridwar Gurugram Chakan Manesar Chinchwad Sanand SL Lumax Ltd Andhra Pradesh 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 pr
Slide 32: State of Art Manufacturing Facilities
State of Art Manufacturing Facilities 31
Slide 33: State of Art Manufacturing Facilities
State of Art Manufacturing Facilities 32
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: In-house Design Studio
.. In-house Design Studio 35
Slide 37: Share Holding as of 31st March 2021
Share Holding as of 31st March 2021 Shareholding breakup Stanley Electric Company Ltd Over three and a half decades of strong technical & financial collaboration with Stanley Electric DK Jain Company Ltd, Japan Others 25.00% Family 37.50% A world leader in Vehicle Lighting & Illumination products fo
Slide 38: Promoter Group
Promoter Group Mr. Dhanesh Kumar Jain Mr. Deepak Jain Mr. Anmol Jain Chairman Emeritus Chairman & Managing Director Jt. Managing Director He is 78 years of age & holds a MBA He is 46 years of age & is a Business Graduate He is 42 years of age & holds degree from Delhi university & has from Ill
Slide 39: 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 He is 62 years old & is a He is 51 years old & is a Mechanical Engineering from graduate from Hosei graduate from graduate from T
Slide 40: Supported by Strong Independent Directors
…Supported by Strong Independent Directors Mr Vikrampati Mr. A P Gandhi Mr. Rajeev Kapoor Mr. Dhiraj Dhar Gupta Mr. Ratan Kapur Ms. Ritika Modi Singhania • He is 83 years old & is a • He is 69 years old and • He is 71 years old and • He is 64 years old & is • She is 55 years old and • He is 56 years
Slide 41: Professional & Experienced Team
Professional & Experienced Team Mr. Vineet Sahni Mr. Sanjay Mehta Mr. Naval Khanna Mr. Todd Morgan Mr. Shrutikant Rustagi CEO & Sr Executive Director Group CFO Corporate Head – Taxation Chief Technology & Chief Financial Officer Age: 56 years Age: 53 years Age: 63 years Innovation Officer Age: 50 Ye
Slide 42: The Path Ahead
LUMNAX The Path Ahead
Slide 43: Rear Lamp – Technology Evolution
Rear Lamp – Technology Evolution Split type Tail Lamp Tail Lamp with LED All LED Tail Lamp 3D LED Tail lamp Adaptive rear Lighting Signature and Tail function 2011-12 2013-mid of 2014 End of 2014 - 2015 2016 2017 onwards • Tail lamps were • New Styling • Penetration of • Almost all the new • All the
Slide 44: Head Lamp – Technology Evolution
Head Lamp – Technology Evolution Head Lamp with Bulb Projector Head Lamp All LED Head Lamp Head Lamp with bulb + Led Head Lamp with LED Projector DRL and LED DRL 2011-13 2014-15 2016-17 2017 onwards • Head Lamps with Halogen Bulbs • Introduction of Projector Lamps • Almost all the models were • The
Slide 45: Leveraging on our Strengths for LED Market
Leveraging on our Strengths for LED Market The Market Scenario Increased styling demands Creating revenue Influencing the cost of by OEMs to individualise & opportunities for Tier I lighting cluster differentiate suppliers Partnership with Stanley Electric - Stanley is one of the Auto Lighting compa
Slide 46: Financials
LUMNAX Financials
Slide 47: Q4FY21 Highlights – Consolidated
Q4FY21 Highlights – Consolidated Revenue EBIDTA* PAT 9.7% 11.5% 13.0% 11.2% 4.2% 4.5% Y-o-Y Performance +30% +73% +39% 504 65 23 387 16 38 Q4FY20 Q4FY21 Q4FY20 Q4FY21 Q4FY20 Q4FY21 11.2% 13.0% 4.4% 4.5% Q-o-Q Performance +31% +15% +13% 504 65 23 446 20 50 Q3FY21 Q4FY21 Q3FY21 Q4FY21 Q3FY21 Q4FY21 Rs
Slide 48: FY21 Highlights - Consolidated
FY21 Highlights - Consolidated Revenue EBIDTA* PAT 10.3% 8.7% 4.5% 1.3% 1,602 165 72 1,426 125 18 FY20 FY21 FY20 FY21 FY20 FY21 # Numbers updated as per IND-AS Rs. Crores * Including other income FY21 EBITDA includes Rs. 12 cr. subsidy income 47
Slide 49: Strong Growth in Total Income with Healthy Margins
Strong Growth in Total Income with Healthy Margins Standalone Results Revenue Reported EBITDA# 8.19% +54 Bps 8.73% +3% 1,851.5 +4% 1,649.4 1,601.6 1,426.0 178.7 1,270.9 167.4 143.0 124.5 106.8 FY17* FY18* FY19* FY20* FY21* FY17* FY18* FY19* FY20* FY21* PAT Cash PAT 3.54% -235 Bps 1.19% -2% -22% 167.
Slide 50: Expansion funded through Internal Accruals
Expansion funded through Internal Accruals Gross Block Long Term Loan 1,214 1,252 52.9 1,047 973 812 13.0 5.0 2.7 0.0 FY17* FY18* FY19* FY20* FY21* FY17* FY18* FY19* FY20* FY21* Capex Long Term Debt / Equity 162.0 167.4 0.14 94.0 70.0 0.05 42.1 0.02 0.01 0.00 FY17* FY18* FY19* FY20* FY21* FY17* FY18
Slide 51: Healthy Return Ratios
Healthy Return Ratios ROE (%) ROCE (%) 21.6 21.1 32.0 32.0 18.0 18.8 26.0 24.0 15.1 4.3 FY17* FY18* FY19* FY20* FY21* FY17* FY18* FY19* FY20* FY21* Dividend (% of Face Value) EPS (in Rs.) 350 114.9 230 235 77.3 67.7 145 49.3 70 18.2 FY17* FY18* FY19*^ FY20* FY21* FY17* FY18* FY19* FY20* FY21* (Propo
Slide 52: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. in Crores.) Q4 FY21 Q4 FY20 Y-o-Y FY21 FY20 Y-o-Y Manufacturing Revenue 490.0 333.9 46.7% 1,374.6 1,471.0 -6.5% Molds Revenue 14.4 53.4 51.3 130.6 Total Operating Revenue 504.4 387.3 30.2% 1,426.0 1,601.6 -11.0% Other Income 15.9 4.1 25.2 7.4 Total Income
Slide 53: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. in Crores) Mar-21 Mar-20 EQUITY & LIABILITIES Mar-21 Mar-20 Non-current assets Equity Property, plant and equipment 581.2 612.6 Capital work-in-progress 47.0 32.2 Equity Share capital 9.3 9.3 Right of use assets 30.7 23.8 Other equity 451.1 437.1 Investment pro
Slide 54: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs in Cr) FY21 FY20 PBT 33.1 91.7 Adjustments 85.9 79.3 Operating profit before working capital changes 118.9 171.0 Changes in working capital -46.6 -52.0 Cash generated from operations 72.4 119.0 Direct taxes paid (net of refund) -3.8 15.7 Net Cash from
Slide 55: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. in Crores.) Q4 FY21 Q4 FY20 Y-o-Y FY21 FY20 Y-o-Y Manufacturing Revenue 490.0 333.9 46.7% 1,374.6 1,471.0 -6.5% Molds Revenue 14.4 53.4 51.3 130.6 Total Operating Revenue 504.4 387.3 30.2% 1,426.0 1,601.6 -11.0% Other Income 15.9 4.1 25.2 9.7 Total Income 52
Slide 56: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. in Crores) Mar-21 Mar-20 EQUITY & LIABILITIES Mar-21 Mar-20 Non-current assets Equity Property, Plant and Equipment 581.2 612.6 Capital work-in-progress 47.0 32.2 Equity Share capital 9.3 9.3 Right of use assets 30.7 23.8 Other equity 387.8 375.1 Investment prope
Slide 57: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs in Crores) FY21 FY20 PBT 31.5 82.0 Adjustments 87.4 89.1 Operating profit before working capital changes 118.9 171.0 Changes in working capital -46.6 -52.0 Cash generated from operations 72.4 119.0 Direct taxes paid (net of refund) -3.8 15.7 Net Cash fr
Slide 58: Awards & Recognitions
LUMNAX Awards & Recognitions
Slide 59: Awards & Recognition
Awards & Recognition Lumax Industries Limited, Dharuhera won JIPM-TPM award for excellence in Category A for year 2019 Lumax Industries Limited, Dharuhera won the Gold Award in Excellence in Inclusive Growth - A Make in India Drive - Very Large Category at the ACMA Technology Summit & Awards held in
Slide 60: Awards & Recognition
Awards & Recognition Lumax Industries Limited, Chakan won the Silver Award in Excellence in New Product Design & Development at the ACMA Technology Summit & Awards in November, 2019. Lumax Industries Limited, Pantnagar won the Gold Award in Excellence in Supplier Development - Very Large Category at
Slide 61: Awards & Recognition
Awards & Recognition Lumax Industries Limited bagged The Gold Award Won the prestigious Gold award for Top 100 best at ICQCC for the third year in a row in FY20. annual report for excellence within its industry for Each of our plants located at Haridwar, Bawal & FY 2018-19 & 2019-20 Bengaluru have b
Slide 62: TPM Award
TPM Award JIPM Award for Excellence in Consistent TPM JIPM-TPM Excellence Award Bengaluru Plant, Commitment Pantnagar Plant, 2019 2019 JIPM-TPM Excellence Award Pantnagar Plant, JIPM-TPM Excellence Award Bawal Plant, March 2014 November 2017 61
Slide 63: CSR Initiatives
CSR Initiatives Towards its endeavour to give back to society, the group has taken various initiatives towards Education of the underprivileged. Four schools in the NCR region, close to its facilities have been adopted, starting with improving its infrastructure, to facilitating the annual fee so as
Slide 64: 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