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Lumax Auto Technologies Ltd. Interim / Quarterly Report 2020
62451_rns_2019-08-10_b77791c4-5f34-44ba-905f-eea934cff3a6.pdf
Interim / Quarterly Report
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LATL:CS:PR:2019-20 Date : 10.08.2019
Ist Floor, Rotunda Building Listing Department PJ. Towers, Dalal Street, Fort Exchange Plaza, C-1 Block G, Mumbai -
BSE Limited The National Stock Exchange of India Limited 400 001 Bandra Kurla Complex, Bandra (E), Mumbai - 400051
Company Code : 532796 Company Code: LUMAXTECH
Sub.: Investor Release
Sir/Ma'am,
We are enclosing herewith the Investor Release being issued by the Company, Lumax Auto Technologies Limited.
The Investor Release will also be made available on the website of the Company www.|umaxworld.in/lumaxautotech.
This is for your information and records.
Thanking you,
Yours faithfully,
For LUMAX AUTO TECHNOLOGIES LIMITED
ANIL TYAGI COMPANY SECRETARY M.NO. A16825
Encl.: as above
CIN:
Lumax Auto Technologies Limited 2nd Floor, Harbans Bhawan-II, T +9111 49857832 Commercial Complex, Nangal Raya. E shares@|umaxmail.com New Delhi-110046 *
Investor Release
LUMAX AUTO TECHNOLOGIES LIMITED
Q1FY20 Consolidated Results
Gurugram – 10th August 2019: Lumax Auto Technologies Ltd., a leading full-service provider in Automotive Components Industry, announced its Un-audited Financial Results for the Quarter ended 30th June, 2019.
Q1FY20 Consolidated Performance on basis of Continuing Business Operations
- Revenue up by 3% YoY to Rs. 288 Cr
- EBITDA including Other Income & share of profit or loss from the JV's stood at Rs. 29 Cr; Margin at 10.0%
- PBT Rs. 18 Cr Margin at 6.2%
- PAT (after MI) Rs. 11 Cr; Margin at 3.9%
| Particulars (Rs. Crs) | Q1 FY19* | Q1 FY20 | YoY% | Q4 FY19* | QoQ% | FY19* |
|---|---|---|---|---|---|---|
| Revenue | 280 | 288 | 3% | 301 | -5% | 1,187 |
| EBITDA** | 30 | 29 | -3% | 28 | 1% | 124 |
| Margin (%) | 10.6% | 10.0% | 9.4% | 10.4% | ||
| PBT (before exceptional items) | 23 | 18 | -22% | 19 | -6% | 94 |
| Margin (%) | 8.2% | 6.2% | 6.4% | 7.9% | ||
| PBT (after exceptional items) | 23 | 18 | -22% | 18 | -3% | 88 |
| Margin (%) | 8.2% | 6.2% | 6.1% | 7.4% | ||
| PAT (after MI) | 14 | 11 | -19% | 11 | 6% | 53 |
| Margin (%) | 5.0% | 3.9% | 3.5% | 4.5% | ||
| EPS | 2.04 | 1.65 | -19% | 1.55 | 6% | 7.81 |
Key Consolidated Financial Highlights (Continuing Operations) are as follows:
* excluding discontinued operations of PCB business
** includes other Income and share of profit or loss from the JV's.
- The consolidated revenue stood at Rs. 288 Cr for Q1FY20 as against Rs. 280 Cr in Q1FY19, up by 3% inspite of 11% reduction in auto industry which is due to increased sales to Bajaj Auto Ltd. and higher sales in Aftermarket division.
- EBITDA margin for Q1FY20 stands at 10.0% as against 10.6% in Q1FY19. The contraction in margin is on account of lower profitability in Lumax Cornaglia Auto Technologies Pvt. Ltd. & Lumax Gill Austem Auto Technologies Pvt. Ltd., subsidiaries of the Company.
- The Profit after Tax and Minority Interest stood at Rs. 11 Cr in Q1FY20 as against Rs. 14 Cr in Q1FY19.
- EPS stands at Rs. 1.65 per share for Q1FY20 as compared to Rs. 2.04 in Q1FY19
Investor Release
• During the previous year, the Company had decided to discontinue & dispose the inventories and plant and machinery relating to the PCB business. As a result, during the current quarter, inventories have been sold at cost and fixed assets relating to the same have been sold at profit of Rs. 9.48 Cr.
Operational Highlights – Q1FY20:
- Lighting Products contributed to 27% to overall Revenues followed by Chassis at 17%, Integrated Plastic Modules & After Market at 16% each and Gear Shifter at 12%
- 2/3 Wheeler contributed to 52% to overall Revenues, Passenger Cars contributed to 21%, After Market 16% & CV's 7%
Business & Customer Update:
The Company has made following new launches during the quarter: -
| Category | Customer Name | Model | Product | |
|---|---|---|---|---|
| Mahindra & Mahindra | Scorpio | Gear Shift Lever | ||
| Passenger Vehicle | MG Motors | Hector | Air Intake System –Diesel +Gasoline |
Awards & Recognitions:
• The Bengaluru plant of the Company successfully completed 1st Stage Assessment of JIPM TPM Audit on June 8, 2019
Commenting on the results Mr. Anmol Jain, MD, Lumax Auto Technologies said "The Indian Automotive industry is undergoing a prolonged slowdown resulting in subdued performance of the auto OEMs. In terms of segmental performance, the Passenger Vehicles segment has been the worst hit by the slowdown. As per SIAM, vehicle wholesale across all the categories declined by 12.35% to 61 lakh units during the April to June quarter as compared to 69 lakh units during the same period last year.
Lumax Auto Technologies is a diversified automotive ancillary company. The impact of the slowdown is also reflected in our first quarter performance. We are taking all the necessary measures to mitigate the impact of this adverse industry scenario and believe our strategy to increase our share of Business with OEMs on back of a diversified product portfolio will play well in the coming quarters. Lumax Auto Technologies through constant innovation and partnerships with leading players has distinguished itself from other players and created a niche in the industry. We therefore, remain confident to overcome these challenging times."
Investor Release
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 (Lighting Modules, Chassis, Integrated Plastic Modules, Gear Shifters, Intake systems, Seat Structure, etc). We are market leaders in Design, Testing and Manufacturing of Gear Shifters in India. The Company has a robust pan-India distribution network with 14 manufacturing plants across India in all major Auto clusters.
Our key customers include Bajaj Auto, Honda Motorcycles and Scooters, Maruti Suzuki, Honda Cars, Toyota, Daimler, V.E Commercial Vehicles and Tata Motors. For more information about the Group and its businesses, please visit our website http://www.lumaxworld.in\lumaxautotech
Safe Harbor 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 forwardlooking 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 | ||
|---|---|---|---|
| LumaxAutoTechnologiesLimited | Strategic Growth Advisors Pvt Ltd. | ||
| CIN: L31909DL1981PLC349793 | CIN No: U74140MH2010PTC204285 | ||
| Priyanka Sharma | Shogun Jain / Pratik R. Shah | ||
| Email id: [email protected] | Email id: [email protected] /[email protected] | ||
| Tel No: +91 98102 66637 | Tel No: +91 77383 77756 / +91 97692 60769 |