Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q4 FY2023 Earnings Presentation
53 slides from Lumax Industries's earnings presentation, May 29, 2023
Slide 1: Stock exchange cover letter
LIL:CS:IP:2023-24 Date: 29.05.2023 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 – Q4 FY2023
Lumax Industries Limited Investor Presentation – Q4 FY2023
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
LUMNAX Lumax-DK Jain Group LUMAX
Slide 5: DK Jain Group
DK Jain Group Changes done 3 R&D Centres 37 Seven Decade 1 Engineering Centre Manufacturing Strong 2 Design centres in Facilities Taiwan & Czech 01 02 03 04 05 06 15 Entities in 7 Leader in Over 12,000 States Automotive Employees 1 Overseas Entity Lighting & in Czech Republic 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: 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
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: Locations close to Customers
37 Locations close to Customers State Plant # Bawal 2 Dharuhera 1 Haryana Gurugram 4 Manesar 4 Pune 9 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 Tai
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
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 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 Q4 FY23
Customer Mix Q4 FY23 Customer wise Sales Q4FY22 (Rs. 488 Crores)* Customer wise Sales Q4FY23 (Rs. 570 Crores)* Q4 FY22 Q4 FY23 31 , 5% 181 , 32% 3 , 1% 91 , 19% 88 , 15% 182 , 37% 10 , 2% 21 , 4% 15 , 3% 16 , 3% 42 , 9% 49 , 9% 56 , 10% 51 , 10% 89 , 16% 40 , 7% 59 , 12% 34 , 7% MSIL/SMG HMSI HML MS
Slide 20: Customer Mix FY23
Customer Mix Q4 FY23 Customer wise Sales FY22 (Rs. 1,659 Crores)* Customer wise Sales FY23 (Rs. 2,228 Crores)* FY22 FY23 75 , 3% 712 , 32% 23 , 1% 356 , 16% 333 , 20% 609 , 37% 84 , 4% 12 , 1% 62 , 3% 50 , 3% 164 , 7% 134 , 8% 275 , 12% 148 , 9% 306 , 14% 221 , 13% 194 , 9% 129 , 8% MSIL/SMG HMSI HM
Slide 21: Break-up of Revenue FY23
Break-up of Revenue FY23 Segment Mix LED vs Conventional Product Mix 7% 9% 27% 35% 25% FY23 66% 65% 66% Passenger Vehicle Two Wheeler Conventional Light LED Light Front Lighting Rear Lighting Others Commercial Vehicle 7% 11% 28% 33% 25% 65% 67% 64% FY22 Passenger Vehicle Two Wheeler Commercial Vehic
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 Bawal – Electronic Facility Chakan 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 scale. All
Slide 25: Shareholding as of 31st March 2023
Shareholding as of 31st March 2023 Shareholding Breakup Stanley Electric Company Ltd Almost 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 Autom
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 80 years of age & holds a MBA degree from He is 48 years of age & is a Business Graduate He is 44 years of age & holds Bachelors in Delhi university &
Slide 27: Promoter Group
Promoter Group Mr. Tadayoshi Aoki Mr. Toru Tanabe Senior Executive Director Non-Executive Director He is 56 years old & is a Mechanical He is 63 years old & is a graduate Engineering from Tokoyo Denki from Hosei university, Japan University Japan He has over 25 years of rich He is Nominee Di
Slide 28: Supported by Strong Independent Directors
…Supported by Strong Independent Directors Mr. A P Gandhi Mr. Rajeev Kapoor Mr. Dhiraj Dhar Gupta Age: 84 years Age: 70 years Age: 72 years Mechanical Engineer Mechanical Engineer B.Com honours from (hons) from NIIT, SRCC, Delhi University Kurukshetra He has held top leadership positions in He is Ex
Slide 29: Professional & Experienced Team
Professional & Experienced Team Mr. Sanjay Mehta Mr. Vishnu Johri Mr. Naval Khanna Mr. Todd Morgan Group CFO CEO Corporate Head – Taxation Chief Technology & Age: 55 years Age: 65 years Innovation Officer Age: 58 years Experience: 30 Years Experience: 44 years Age: 56 Years Experience: over 30 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
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# 2,320 222 1,851 1,751 179 1,649 1,602 167 1,426 143 148 125 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21^II FY22 FY23 PAT Cash PAT 107 168 151 136 72 71 111 112 63 49 82 17 FY18 FY19^I FY20 FY21^II FY
Slide 37: Expansion funded through Internal Accruals
Expansion funded through Internal Accruals Standalone Results Gross Block Long Term Loan 1,510 76 79 1,400 1,214 1,252 973 1,047 53 5 3 0 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 Capex Long Term Debt / Equity 162 167 0.18 149 0.16 136 0.14 94 42 0.02 0.01 0.00 FY18 FY19 FY20 FY21
Slide 38: Healthy Return Ratios
Healthy Return Ratios Standalone Results ROE (%) ROCE (%) 22 21 32 32 19 24 25 15 12 17 15 4 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 Dividend (% of Face Value) EPS (in Rs.) 350 115 270 230 235 77 76 68 135 52 70 18 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 ^ Tot
Slide 39: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. in Crores.) Q4FY23 Q4FY22 Y-o-Y Q3FY23 Q-o-Q FY23 FY22 Y-o-Y Manufacturing Revenue 569.7 488.1 557.1 2,228.2 1,659.0 Molds Revenue 38.4 61.3 22.4 91.3 92.3 Total Operating Revenue 608.1 549.4 10.7% 579.4 4.9% 2,319.5 1,751.3 34.3% Other Income 4.5 3.5 1.3 14
Slide 40: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. in Crores) Mar-23 Mar-22 EQUITY & LIABILITIES Mar-23 Mar-22 Non-current assets Equity Property, plant and equipment 685.9 664.7 Capital work-in-progress 43.0 47.8 Equity Share capital 9.3 9.3 Right of use assets 39.4 28.4 Other equity 472.1 413.4 Investment prope
Slide 41: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. in Crores.) FY23 FY22 PBT 107.4 46.1 Adjustments 103.3 81.9 Operating profit before working capital changes 210.7 128.0 Changes in working capital -75.5 -9.7 Cash generated from operations 135.2 118.3 Direct taxes paid (net of refund) 24.5 10.3 Net Cas
Slide 42: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. in Crores.) Q4FY23 Q4FY22 Y-o-Y Q3FY23 Q-o-Q FY23 FY22 Y-o-Y Manufacturing Revenue 569.7 488.1 557.1 2,228.2 1,659.0 Molds Revenue 38.4 61.3 22.4 91.3 92.3 Total Operating Income 608.1 549.4 10.7% 579.4 4.9% 2,319.5 1,751.3 34.3% Other Income 4.5 3.5 1.3 1
Slide 43: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. in Crores) Mar-23 Mar-22 EQUITY & LIABILITIES Mar-23 Mar-22 Non-current assets Equity Property, plant and equipment 690.3 664.7 Equity Share capital 9.3 9.3 Capital work-in-progress 43.0 47.8 Right of use assets 39.4 28.4 Other equity 574.2 482.4 Investment pro
Slide 44: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in Crores.) FY23 FY22 PBT 149.1 52.8 Adjustments 61.6 75.2 Operating profit before working capital changes 210.7 128.0 Changes in working capital -78.6 -9.7 Cash generated from operations 132.2 118.3 Direct taxes paid (net of refund) 24.5 10.3 Net Ca
Slide 45: Awards & Recognitions
Lumax? oof 20, e ) Awards & v Ld 9 Recognitions TE a 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: Supplier Recognition Award
Supplier Recognition Award Lumax Industries Limited received the 2nd Runner up Award for the National QC / Kaizen Competition from Mr Takanobu Watabe, Operating Head - Purchase, Honda Cars India at the Annual Supplier Convention organised by HCI Supplier Club in February 2023. 46
Slide 48: ACMA Awards
ACMA Awards Lumax Industries Limited, Gurugram won the Bronze Award for Excellence in NPDD & Localisation - Very Large Category at the ACMA Atmanirbhar Excellence Awards 2022 in March 2023. 47
Slide 49: 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 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, 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 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 / Mr. Sagar Shroff priyanka.sharma@lumaxmail.com shogun.jain@sgapl.