Lumax Auto Technologies Ltd. — Earnings Release 2023

May 30, 2023

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LATL:CS:PR:2023‐24 Date: May 30, 2023

LATL:CS:PR:2023‐24	Date: May 30, 2023
BSE Limited Listing & Compliance Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai ‐ 400001	The National Stock Exchange of India Limited Listing & Compliance Department Exchange Plaza, C‐1 Block G, Bandra Kurla Complex, Bandra(E),Mumbai – 400051
Security Code : 532796	Symbol: LUMAXTECH

Subject: Investor Release of Financial Results for 4th Quarter and Year ended March 31, 2023

Dear Sir/ Ma'am,

Please find enclosed herewith the Investor release being issued by the Company for the 4th Quarter and year ended March 31, 2023.

The aforesaid information shall also be made available on the website of the Company www.lumaxworld.in/lumaxautotech

This is for your Information and Records.

Thanking you,

For Lumax Auto Technologies Limited

Digitally signed by PANKAJ PANKAJ MAHENDRU MAHENDRU Date: 2023.05.30 21:35:31 +05'30'

Pankaj Mahendru Company Secretary Membership No. A28161

Encl: As stated Above

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Investor Release

LUMAX AUTO TECHNOLOGIES LIMITED

Q4 & 12M FY23 Consolidated Results*

• Achieved Highest Ever Quarterly & Annual Revenue

• Q4FY23 revenue at Rs. 493 crs ; up by 18% Y‐o‐Y

• FY23 revenue at Rs. 1,847 crs , a stellar growth by 23% Y‐o‐Y

• Achieved Highest Ever Quarterly & Annual EBITDA

• Q4FY23 EBITDA at Rs. 62 crs ; up by 26% Y‐o‐Y

• FY23 EBITDA at Rs. 224 crs ; up by 37% Y‐o‐Y

• Q4 & 12M FY23 EBITDA margins at 12.6% & 12.1% respectively.

• Q4FY23 PAT at Rs. 24 crs . PAT margins at 4.8%

• FY23 PAT at Rs. 111 crs ; a growth of 36% Y‐o‐Y. PAT stood at 6.0%

Gurugram – 30[th] May, 2023: Lumax Auto Technologies Limited (LATL), a leading full‐service provider in Automotive Components Industry, announced its consolidated and audited financial results for the quarter & year ended as on 31[st] March, 2023.

Key Consolidated Financial Highlights *:

Particulars (Rs. Crs)	Q4FY22	Q4FY23	Y‐o‐Y	12M FY22	12M FY23	Y‐o‐Y
Revenue	417	493	18%	1,508	1,847	23%
EBITDA	49	62	26%	163	224	37%
Margin (%)	11.8%	12.6%		10.8%	12.1%
PBT (before Exceptional items)#	35	38	8%	115	156	36%
Margin (%)	8.4%	7.7%		7.6%	8.4%
PAT (before Minority Interest)	25	24	‐6%	82	111	36%
Margin (%)	6.1%	4.8%		5.4%	6.0%
EPS	3.09	2.74		10.18	13.63

*Includes revenue of Rs. 51 crs, EBIDTA of Rs. 7.4 crs and PAT of Rs. 2.8 crs of IAC India from 10[th] March, 2023 to 31[st] March, 2023

Exceptional items represent certain transaction cost related to the acquisition of stake in IAC India.

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Investor Release

Operational Highlights — FY23:

• Integrated Plastic Modules contributed 26% to overall Revenues followed by Aftermarket at 20% , Gear Shifter at 16%, Fabrication at 13% , Lighting products at 8% , Emission at 7% and Others at 10%

• 2/3‐Wheelers contributed 37% to overall Revenues, Passenger Car at 29% , After Market at 20% , CV’s at 9% and others at 5%

Business Update:

• During the quarter, LATL received requisite approval of amalgamation from Hon'ble National Company Law Tribunal (NCLT) for merger of Lumax Mettalics Private Limited with effect from April 1, 2022.

• During the quarter, LATL had entered into share purchase agreement “SPA” to acquire 75% stake and control interest in IAC International Automotive India Private Limited ("IAC India"), which is engaged in the business of manufacturing automotive components for an aggregate consideration of Rs. 43,528 lakhs. The SPA was executed on March 10, 2023 and accordingly, the results of IAC India have been consolidated from this date.

New Launches made during the quarter:

Category	Customer Name	Model	Product
Passenger Vehicle	MSIL	Fronx	Gear Shifter – MT & AT
		Jimny
	FCA	Jeep	Seat frames
2‐Wheelers	Bajaj	KTM/K1R	Chassis & Frames
Commercial Vehicle	DICV	HD Truck, MD Truck & Buses	Telematic Parts

Awards:

• Pantnagar plant received the Super Platinum Quality Award from Bajaj Auto at the BAVA Convention in January, 2023.

• Bengaluru plant won the Bronze Award for Excellence in Manufacturing ‐ Very Large Category at the ACMA Atmanirbhar Excellence Awards held in March 2023.

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Investor Release

• Lumax Mannoh Allied Technologies (a subsidiary company of LATL) has proudly received two awards in the categories ‐ Inner parts Localisation and Value Analysis at the Maruti Vendor Conference held at Dubai in May, 2023.

Commenting on the results Mr. Anmol Jain, MD, Lumax Auto Technologies said‐ “We are delighted to report another quarter of strong results by achieving our Highest Ever Revenues & EBITDA for FY23. Our revenues & EBITDA for FY23 grew by 23% & 37% respectively on Y‐o‐Y basis. Over the years, we have established a strong legacy forged by deep partnerships with global players and meaningful relationships with our customers through continuous innovation, advancements in technology and Pan‐India State‐of‐the‐ Art operations. The future of auto industry looks promising with increasing demand on the back of rising consumption, higher disposable income & aspirational buying. Auto‐Ancillary industry growth is supported by vehicle premiumization, increased localization and new EV opportunities resulting in higher vehicle content per vehicle.

We have been able to successfully diversify revenues across products and customers giving us large operational efficiencies and operating leverage play. We have also acquired the majority stake in IAC International Automotive India (IAC India) in March 2023, the integration of the systems and processes are happening smoothly, and we believe with potential synergies, cross selling opportunities, technological upgradation & manufacturing excellence, we will be able to achieve greater heights going forward.”

About Lumax Auto Technologies Limited:

Lumax Auto Technologies Ltd. through its wholly owned subsidiaries and joint ventures, has been a manufacturer of wide range of products (Integrated Plastic Modules, 2/3‐wheeler Lighting, Chassis, Gear Shifter, Shift Towers, Emission Systems, Seat Frames, Oxygen Sensors, Electric devices & components). It is a market leader in Design, Testing and Manufacturing of Gear Shifters in India. The Company has a robust distribution network with 23 manufacturing plants across India in all major Auto clusters.

Our key customers include Bajaj Auto, Honda Motorcycles and Scooters, Mahindra & Mahindra, Maruti Suzuki, Tata Motors and Toyota. For more information about the Company, its Group and its businesses, please visit our website http://www.lumaxworld.in/lumaxautotech.com/ .

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Investor Release

Safe Harbour Statement:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward‐looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward‐ looking statements. The company assumes no obligation to update forward‐looking statements to reflect actual results changed assumptions or other factors.

For further details please contact:

Company	Investor Relations Advisors
Lumax Auto Technologies Limited CIN No: L31909DL1981PLC349793 Priyanka Sharma Email id:priyanka.sharma@lumaxmail.com Tel No: +91 98102 66637	Strategic Growth Advisors Pvt Ltd. CIN No: U74140MH2010PTC204285 Shogun Jain / Sagar Shroff Email id: shogun.iain@sgapl.net/ sagar.shroff@sgapl.net Tel No: +91 77383 77756 / +91 98205 19303