Lumax Auto Technologies Ltd. — Earnings Release 2024

May 27, 2024

LATL:CS:REG30:2024-25 Date: 27.05.2024

BSE Limited National Stock Exchange of India Limited Listing & Compliance Department Listing & Compliance Department Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1 Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Security Code : 532796 Symbol: LUMAXTECH

Subject: Investor Release of Financial Results for the 4[th] Quarter and Year ended March 31, 2024

Dear Sir/Ma’am,

We are enclosing herewith the Investor Release being issued by the Company, Lumax Auto Technologies Limited for the 4th Quarter and year ended March 31, 2024.

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

This is for your Information and Records.

Thanking you, Yours faithfully, For Lumax Auto Technologies Limited

PANKAJ Digitally signed by PANKAJ MAHENDRU MAHENDRU Date: 2024.05.27 19:20:17 +05'30' Pankaj Mahendru Company Secretary & Compliance Officer ICSI Membership No. A28161

Encl: As stated above

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Investor Release

LUMAX AUTO TECHNOLOGIES LIMITED

Q4 & FY24 Consolidated Results

• ✓ Highest ever quarterly revenues for Q4FY24 at Rs. 757 crs ; up by 54% Y-o-Y

• ✓ For FY24, Revenue at Rs. 2,822 crs ; up by 53% Y-o-Y

• ✓ EBITDA for Q4 at Rs. 110 crs ; up by 77% Y-o-Y , EBITDA margins at 14.5% , up by 190 bps Y-o-Y for Q4FY24.

• ✓ For FY24, EBITDA margins at 14.6% compared to 12.1% in FY23, up by 250 bps

• ✓ Profit after Tax (PAT) before Minority Interest at Rs. 51 crs, up by 116% Y-o-Y for Q4FY24 and Rs. 167 crs, up by 50% Y-o-Y for FY24.

Gurugram – 27[th] May 2024: Lumax Auto Technologies Ltd., a leading full-service provider in Automotive Components Industry, announced its audited financial results for the 4th quarter and full year ended 31st March 2024.

Key Consolidated Financial Highlights are as follows:

Particulars (Rs. Crs)	Q4FY23^	Q4FY24*	Y-o-Y	FY23^	FY24*	Y-o-Y
Revenue	493	757	54%	1,847	2,822	53%
EBITDA	62	110	77%	224	413	84%
Margin (%)	12.6%	14.5%	+190 bps	12.1%	14.6%
PBT (before Exceptional items)	38	62	62%	156	227	46%
Margin (%)	7.7%	8.2%		8.4%	8.0%
PAT before Minority Interest	24	51	116%	111	167	50%
Margin (%)	4.8%	6.8%		6.0%	5.9%
EPS	2.74	6.49		13.63	19.10

Q4FY24 & FY24 includes IAC India Revenue of_ _Rs. 221 Cr & Rs. 886 Cr and EBIDTA of_ _Rs. 45 Cr and 176 Cr* respectively

• ^Includes IAC financials from 10th March 2023 to 31st March 2023 - Revenue of Rs 51 Crs and EBITDA of Rs 7 Crs

Operational Highlights — FY24:

• Integrated Plastic Modules contributed 47% to overall Revenues followed by Aftermarket at 14%, Gear Shifter at 12%, Fabrication at 8%, Emission at 6%, Lighting products at 5% and Others at 8%

• Passenger Cars contributed 48% to overall Revenues, 2/3-Wheelers at 24%, After Market at 14%, CV at 9% and others at 5%

Business Update:

• During the quarter, the step down subsidiary "IAC International Automotive India Private Limited'' {acquired on March 10, 2023 through Lumax Integrated Ventures Private Limited (LIVE), the subsidiary of the Company} has been merged with LIVE with appointed date of March 10, 2023.

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Investor Release

• During the current quarter, the Company has acquired remaining stake in Lumax Ancillary Limited ('LAL') and LAL has become wholly owned subsidiary of the Company w.e.f. January 25, 2024. Further, subsequent to year end, on May 27, 2024 the Board of Directors of the Company has accorded its consent for proposed merger of LAL into the Company with April 01, 2024 as appointed date.

• The Board of Directors of the Company have recommended a dividend of Rs. 5.50/- per equity share for the financial year 2023-24 subject to approval of the shareholders.

New Launches made during the quarter:

Category	Customer Name	Model	Product
2-Wheeler	Bajaj	KTM Duke	Frames
Passenger Vehicle	M&M	Scorpio	Plastic Products

Awards:

• The Pantnagar plant of the Company won JIPM TPM special award in the month of March 2024, the first supplier of Bajaj Auto Cluster to achieve this milestone.

• The Chakan plant of the Company won JIPM TPM award for Excellence in Consistent TPM Commitment in the month of March 2024.

• The Bangalore plant of the Company received “Best QCD Performance Award” at HMSI Annual Supplier Convention held in Mumbai in March 2024.

• The Company along with Subsidiaries received multiple awards at Maruti Suzuki Vendor Conference held in April 24:-

• Supplier Collaboration

• Bangalore Plant for “VAVE”

• Lumax Mannoh for “Financial Prudence”

• IAC India for “New part development”

• The Subsidiary Company, Lumax Alps Alpine received recognition for “Quick resolution of market feedback” from MSIL.

• The Subsidiary Company, IAC India received the Best Cost Management Performance Award at the Mahindra Supplier Excellence Awards in February 2024.

Commenting on the results Mr. Anmol Jain, MD, Lumax Auto Technologies said, " With remarkable growth

in the automotive industry, driven by a surge in PV segment demand and robust 2-wheeler sales, our focus

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Investor Release

on safety, innovation, and lightweighting remains paramount. These strong results are a testament to our customers' trust, enabling us to continue delivering excellence and innovative solutions. The company is positioned as a leader in the industry with strong operational and financial results, owing to its diversified product portfolio and strong partnerships that center on cutting-edge automotive technologies and innovations."

Mr. Vikas Marwah, CEO added that "Lumax Technologies is dedicated to niche technologies and markets, aiming to carve out a unique position in the industry. The company with its multi-product and multi partnerships aims to scaleup its product offerings and explore new avenues in the automotive industry. We are committed to promoting emerging areas like advanced plastics, electronisation to meet the dynamic demands of our customers and the industry.”

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, On-board antennas Electric devices & components, Wiring Harness and Vehicle Interior Components). We are market leaders in Design, Testing and Manufacturing of Gear Shifters & Interior Solutions in India. The Company has a robust pan-India distribution network with 26 manufacturing plants across India in all major Auto clusters.

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

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 forwardlooking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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Investor Release

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