Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q2 FY2023 Earnings Presentation
57 slides from Lumax Industries's earnings presentation, Nov 11, 2022
Slide 1: Exchange cover letter for investor presentation
LIL:CS:IP:2022-23 Date: 11.11.2022 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 C
Slide 2: Investor Presentation – Q2 FY2023
Lumax Industries Limited Investor Presentation – Q2 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: Lumax-DK Jain Group
Lumax-DK Jain Group 3 R&D Centres (India) & 2 32 Seven Decade Design Centres Manufacturing Strong (Taiwan & Czech Facilities Republic) 01 02 03 04 05 06 15 Entities in 6 Leader in Over 10,000 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
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: 32 Locations close to Customers
32 Locations close to Customers State Mfg Locations # Haryana Bawal 2 Dharuhera 1 Gurugram 4 Manesar 3 Maharashtra Pune 8 Waluj 2 Karnataka Bengaluru 3 Gujarat Sanand 2 Facilities Location Mehsana 1 Gurugram, Manesar, R&D Centre Pune Tamil Nadu Sriperumbudur 1 Taiwan & Czech Uttarakhand Haridwar 1 D
Slide 13: 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 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 nearly 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 presen
Slide 19: Customer Mix Q2 FY23
Customer Mix Q2 FY23 Customer wise Sales Q2FY22 (Rs. 438 Crores)* Customer wise Sales Q2FY23 (Rs. 599 Crores)* Q2 FY22 Q2 FY23 71 , 16% 103 , 17% 185 , 31% 157 , 36% 14 , 3% 17 , 3% 26 , 6% 30 , 5% 31 , 7% 49 , 8% 32 , 7% 87 , 14% 82 , 14% 38 , 9% 70 , 16% 46 , 8% MSIL/SMG HMSI HML M&M MSIL/SMG HMSI
Slide 20: Customer Mix H1 FY23
Customer Mix H1 FY23 Customer wise Sales H1 FY22 (Rs. 740 Crores)* Customer wise Sales H1 FY23 (Rs. 1,101 Crores)* H1 FY22 H1 FY23 118 , 16% 176 , 16% 356 , 32% 22 , 3% 273 , 37% 33 , 3% 36 , 5% 56 , 5% 57 , 8% 100 , 9% 61 , 8% 143 , 13% 149 , 14% 66 , 9% 108 , 15% 89 , 8% MSIL/SMG HMSI HML M&M MSIL
Slide 21: Break-up of Revenue Q2 FY23
Break-up of Revenue Q2 FY23 Segment Mix LED vs Conventional Product Mix 6% 10% 28% 36% 24% Q2 FY23 66% 64% 66% Passenger Vehicle Two Wheeler Conventional Light LED Light Front Lighting Rear Lighting Others Commercial Vehicle 7% 10% 30% 34% 26% Q2 FY22 63% 66% 64% Passenger Vehicle Two Wheeler Commer
Slide 22: Break-up of Revenue H1 FY23
Break-up of Revenue H1 FY23 Segment Mix LED vs Conventional Product Mix 6% 10% 29% 35% 24% H1 FY23 65% 65% 66% Passenger Vehicle Two Wheeler Conventional Light LED Light Front Lighting Rear Lighting Others Commercial Vehicle 7% 10% 29% 34% 26% H1 FY22 64% 66% 64% Passenger Vehicle Two Wheeler Commer
Slide 23: SL Lumax Limited
SL Lumax Limited Established in 1997 Associate Company with 21.28% holding FY22 Sales In partnership with SL Corporation, Korea, a multinational automotive player with presence in Rs. 1,960 Crores Asia-Pacific, Europe & US Plant in Sriperumbudur near Chennai Key Customers Products Lamps Head Lamp, R
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 … Dharuhera Pantnagar Bawal Haridwar Gurugram Chakan Bawal – Electronic Facility 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 24 Map not to s
Slide 26: Shareholding as of 30th September 2022
Shareholding as of 30th September 2022 Shareholding Breakup Stanley Electric Company Ltd ▪ Nearly 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 A
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 80 years of age & holds a MBA degree from ▪ He is 47 years of age & is a Business Graduate ▪ He is 43 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 56 years old & is a Mechanical ▪ He is 63 years old & is a graduate ▪ He is 52 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: 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 30: Professional & Experienced Team
Professional & Experienced Team Mr. Sanjay Mehta Mr. Naval Khanna Mr. Todd Morgan Mr. Vineet Sahni Mr. Shrutikant Rustagi Group CFO Corporate Head – Taxation Chief Technology & CEO & Sr Executive Director Chief Financial Officer Age: 55 years Innovation Officer Age: 57 years Age: 65 years Age: 52 Ye
Slide 31: The Path Ahead
The Path Ahead 30
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
LUMAX 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 1,751 179 1,649 1,602 167 1,426 143 148 1,132 125 112 FY18 FY19 FY20 FY21 FY22 H1FY23 FY18 FY19 FY20 FY21^II FY22 H1FY23 PAT Cash PAT 107 168 136 72 111 112 63 49 82 79 40 17 FY18 FY19^I FY20 FY21^II
Slide 38: Expansion funded through Internal Accruals
Expansion funded through Internal Accruals Standalone Results Gross Block Long Term Loan 1,400 1,432 76 1,214 1,252 68 973 1,047 53 5 3 0 FY18 FY19 FY20 FY21 FY22 H1FY23 FY18 FY19 FY20 FY21 FY22 H1FY23 Capex Long Term Debt / Equity 162 167 0.18 149 0.15 0.14 94 42 33 0.02 0.01 0.00 FY18 FY19 FY20 FY
Slide 39: Healthy Return Ratios
Healthy Return Ratios Standalone Results ROE (%) ROCE (%) 22 21 32 32 19 28 18 24 12 17 15 4 FY18 FY19 FY20 FY21 FY22 H1FY23 FY18 FY19 FY20 FY21 FY22 H1FY23 Dividend (%) EPS (in Rs.) 350 115 230 235 77 68 52 135 43 70 18 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 H1FY23 ^ Total Dividend inclu
Slide 40: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. in Crores.) Q2FY23 Q2FY22 Y-o-Y Q1FY23 Q-o-Q H1FY23 H1FY22 Y-o-Y Manufacturing Revenue 599.2 438.4 502.3 1101.5 739.8 Moulds Revenue 20.9 14.2 9.7 30.5 26.8 Total Operating Revenue 620.1 452.7 37.0% 511.9 21.1% 1132.0 766.7 47.6% Other Income 3.9 4.3 4.9 8.9
Slide 41: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. in Crores) Sep-22 Mar-22 EQUITY & LIABILITIES Sep-22 Mar-22 Non-current assets Equity Property, plant and equipment 659.2 664.7 Capital work-in-progress Equity Share capital 9.3 9.3 45.9 47.8 Right of use assets 27.1 28.4 Other equity 438.3 413.4 Investment prope
Slide 42: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. in Crores.) H1FY23 H1FY22 PBT 59.4 6.7 Adjustments 52.9 43 Operating profit before working capital changes 112.3 49.7 Changes in working capital -44.8 -61.5 Cash generated from operations 67.5 -11.7 Direct taxes paid (net of refund) 11.0 6.4 Net Cash f
Slide 43: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. in Crores.) Q2FY23 Q2FY22 Y-o-Y Q1FY23 Q-o-Q H1FY23 H1FY22 Y-o-Y Manufacturing Revenue 599.2 438.4 502.3 1101.5 739.8 Moulds Revenue 20.9 14.2 9.7 30.5 26.8 Total Operating Revenue 620.1 452.7 37.0% 511.9 21.1% 1132.0 766.7 47.6% Other Income 3.9 4.3 4.9 8
Slide 44: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. in Crores) Sep-22 Mar-22 EQUITY & LIABILITIES Sep-22 Mar-22 Non-current assets Equity Property, plant and equipment 659.2 664.7 Capital work-in-progress 45.9 47.8 Equity Share capital 9.3 9.3 Right of use assets 27.1 28.4 Other equity 520.7 482.4 Investment pro
Slide 45: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in Crores.) H1FY23 H1FY22 PBT 75.3 7.8 Adjustments 37.0 41.9 Operating profit before working capital changes 112.3 49.7 Changes in working capital -44.8 -61.5 Cash generated from operations 67.5 -11.7 Direct taxes paid (net of refund) 11.0 6.4 Net Ca
Slide 46: Awards & Recognitions
LUMNX Awards & Recognitions DK JAIN GROUP
Slide 47: Supplier Recognition Award
Supplier Recognition Award Awarded for Overall Performance 2021-22 by Maruti Suzuki India at the Maruti Suzuki Vendor Conference 2022 held in May 2022. 46
Slide 48: CII Awards
CII Awards National Low-Cost Automation Award Won Gold Award in Productivity Improvement by Bangalore Plant in July 2022 47
Slide 49: Awards & Recognitions
Awards & Recognitions The Bengaluru plant of the company was recognised for its outstanding contribution by achieving Zero Defect Supplies for the year 2020 by Toyota Kirloskar Motor Pvt. Ltd. In July 2021. Three teams of the company participated at the 41st CII National Kaizen Competition in Septem
Slide 50: 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 49
Slide 51: 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 52: ACMA Atmanirbhar Excellence Awards
ACMA Atmanirbhar Excellence Awards The Company has bagged 3 Awards at the ACMA Atmanirbhar Excellence Awards 2021 in March 2022. 51
Slide 53: 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 54: 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 ▪ The company bagged The Gold Award at ICQCC for the fourth year in a row in FY21 ▪ Each of our plants located at Haridwar, Bawal & Bengaluru have
Slide 55: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Quality Education’ for the society 54
Slide 56: CSR Initiatives
CSR Initiatives Social Initiatives by Lumax group towards ‘Good Health’ for the society 55
Slide 57: 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.