Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q2 FY2024 Earnings Presentation
51 slides from Lumax Industries's earnings presentation, Nov 7, 2023
Slide 1: Exchange filing cover letter for investor presentation
LIL:CS:IP:2023-24 Date: 07.11.2023 BSE Limited The National Stock Exchange of India Listing & Compliance Department Limited Phiroze Jeejeebhoy Towers, Listing & Compliance Department Dalal Street, Exchange Plaza, C-1 Block G, Mumbai - 400001 Bandra Kurla Complex, Bandra (E), Mumbai-400051 Security C
Slide 2: Lumax Industries Limited Investor Presentation – Q2 & H1 FY2024
Lumax Industries Limited Investor Presentation – Q2 & H1 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
LUMNAX Lumax-DK Jain Group % LUMAX
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: Locations close to Customers
37 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 ‘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 Q2 FY24
Customer Mix Q2 FY24 Customer wise Sales Q2FY23 (Rs. 599 Crores)* Customer wise Sales Q2FY24 (Rs. 633 Crores)* Q2 FY23 Q2 FY24 16 , 3% 32 , 5% 64 , 11% 185 , 31% 33 , 5% 32 , 5% 191 , 30% 30 , 5% 18 , 3% 17 , 3% 31 , 5% 22 , 4% 51 , 8% 49 , 8% 82 , 14% 87 , 14% 109 , 17% 86 , 14% 46 , 8% 50 , 8% MSI
Slide 20: Customer Mix H1 FY24
Customer Mix H1 FY24 Customer wise Sales H1FY23 (Rs. 1,101 Crores)* Customer wise Sales H1FY24 (Rs. 1,218 Crores)* H1 FY23 H1 FY24 28 , 3% 67 , 6% 114 , 10% 88 , 7% 356 , 32% 61 , 5% 346 , 28% 56 , 5% 35 , 3% 33 , 3% 34 , 3% 62 , 5% 100 , 9% 99 , 8% 143 , 13% 149 , 14% 190, 16% 171, 14% 89 , 8% 99 ,
Slide 21: Break-up of Revenue H1 FY24
Break-up of Revenue H1 FY24 Segment Mix LED vs Conventional Product Mix 5% 9% 29% 36% 25% H1 FY24 66% 64% 66% Passenger Vehicle Two Wheeler Conventional Light LED Light Front Lighting Rear Lighting Others Commercial Vehicle 6% 10% 29% 35% 24% H1 FY23 65% 65% 66% Passenger Vehicle Two Wheeler Commerc
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 … Servicing almost 90% of OE Customers in India
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 – Chakan 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 30th September 2023
Shareholding as of 30th September 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 A
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 80 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 56 years old & is a Mechanical ▪ He is 64 years old & is a graduate ▪ He is 59 years of age & has a degree Engineering from Tokyo Denki from Hos
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 has o
Slide 29: Professional & Experienced Team
Professional & Experienced Team Mr. Raju B Ketkale Mr. Naval Khanna Mr. Sanjay Mehta Mr. Vishnu Johri Group Head – Manufacturing & Corporate Head – Taxation Group CFO CEO Corporate Planning Age: 65 years Age: 56 years Age: 57 years Age: 58 years Experience: 44 years Experience: 30 Years Experience:
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
LUMAX Financials 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 1,602 167 1,426 148 1,262 125 111 FY19 FY20 FY21 FY22 FY23 H1FY24 FY19 FY20 FY21^II FY22 FY23 H1FY24 PAT Cash PAT 107 168 151 136 72 71 112 73 49 82 31 17 FY19^I FY20 FY21^II FY22
Slide 37: Expansion funded through Internal Accruals
Expansion funded through Internal Accruals Standalone Results Gross Block Long Term Loan 1,510 1527 162 1,400 1,214 1,252 1,047 76 79 53 3 0 FY19 FY20 FY21 FY22 FY23 H1FY24 FY19 FY20 FY21 FY22 FY23 H1FY24 Capex Long Term Debt / Equity 167 0.33 149 136 94 0.18 0.16 0.14 42 21 0.01 0.00 FY19 FY20 FY21
Slide 38: Healthy Return Ratios
Healthy Return Ratios Standalone Results ROE (%) ROCE (%) 21 32 19 24 25 15 13 21 12 17 15 4 FY19 FY20 FY21 FY22 FY23 H1FY24 FY19 FY20 FY21 FY22 FY23 H1FY24 Dividend (% of Face Value) EPS (in Rs.) 350 115 270 230 235 77 76 135 52 33 70 18 FY18 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 H1FY24
Slide 39: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. in Crores.) Q2FY24 Q2FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Manufacturing Revenue 633.3 599.2 584.3 1217.5 1101.5 Molds Revenue 10.5 20.9 34.2 44.7 30.5 Total Operating Revenue 643.8 620.1 3.8% 618.5 4.1% 1262.2 1132.0 11.5% Other Income 1.8 3.9 2.8 4.5
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.) Q2FY24 Q2FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Manufacturing Revenue 633.3 599.2 584.3 1217.5 1101.5 Molds Revenue 10.5 20.9 34.2 44.7 30.5 Total Operating Income 643.8 620.1 3.8% 618.4 4.1% 1262.2 1132.0 11.5% Other Income 1.8 3.9 2.8 4.
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.