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Lumax Auto Technologies Ltd. — Interim / Quarterly Report 2019
Feb 9, 2019
62451_rns_2019-02-09_43aa1ef6-9081-4716-9121-6a548809f2e5.pdf
Interim / Quarterly Report
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Investor Release
LUMAX AUTO TECHNOLOGIES LIMITED
Q3 & 9MFY19 Consolidated Results
9M FY19 Consolidated Performance
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Revenue (Net of taxes) up by 31% YoY to Rs. 1,021 Cr
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EBITDA grew by 37% YoY to Rs. 113 Cr; Margin at 11.1%
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PBT (before exceptional items) grew by 44% YoY to Rs. 90 Cr; Margin at 8.8%
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PAT (after MI) grew by 51% YoY to Rs. 54 Cr; Margin at 5.3%
Gurugram – 9[th ] February 2019: Lumax Auto Technologies Ltd., a leading full‐service provider in Automotive Components Industry, announced its unaudited Financial Results for the Quarter and Nine Month ended December 31[st] , 2018. The Financial Results has been prepared as per Ind‐AS.
Key Consolidated Financial Highlights are as follows:
| Lumax Auto Technologies Limited (Consolidated Results) | Lumax Auto Technologies Limited (Consolidated Results) | Lumax Auto Technologies Limited (Consolidated Results) | Lumax Auto Technologies Limited (Consolidated Results) | Lumax Auto Technologies Limited (Consolidated Results) | Lumax Auto Technologies Limited (Consolidated Results) | |
|---|---|---|---|---|---|---|
| Particulars(Rs. Crs) | Q3 FY18 | Q3 FY19 | YoY% | 9M FY18 | 9M FY19 | YoY% |
| Revenue(Net of Excise Duty) | 277 | 320 | 15% | 780 | 1,021 | 31% |
| EBITDA* | 30 | 36 | 22% | 83 | 113 | 37% |
| Margin(%) | 10.7% | 11.3% | +60 bps | 10.6% | 11.1% | +50 bps |
| PBT(before exceptional items) | 23 | 28 | 22% | 62 | 90 | 44% |
| Margin(%) | 8.2% | 8.7% | +50 bps | 8.0% | 8.8% | +80 bps |
| PBT(after exceptional items) | 23 | 28 | 22% | 62 | 84 | 36% |
| Margin(%) | 8.2% | 8.7% | +50 bps | 8.0% | 8.3% | +30 bps |
| PAT(after MI) | 13 | 17 | 33% | 36 | 54 | 51% |
| Margin(%) | 4.7% | 5.4% | 4.6% | 5.3% | ||
| EPS | 1.91 | 2.55 | 33% | 5.21 | 7.87 | 51% |
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includes other Income and share of profit or loss from the JV’s.
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The consolidated revenue stood at Rs. 1,021 Cr for 9M FY19 as against Rs. 780 Cr in 9M FY18 up by 31% YOY led by strong volume growth from the OEM’s and supported by growth in aftermarket.
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EBITDA margin for Q3 FY19 has increased by 60 basis points to 11.3% against 10.7% in last year, largely on account of better operating efficiencies, implementation of bill to ship concept by Bajaj Auto and improved performance of the JV’s / aftermarket.
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EBITDA margin for 9MFY19 stands at 11.1% as against 10.6% in 9MFY18.
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Investor Release
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The Profit after Tax and Minority Interest stood at Rs. 54 Cr in 9M FY19 as against 36 Cr in 9M FY18.
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EPS stands at Rs. 7.87 per share for 9M FY19 as compared to Rs. 5.21 in 9M FY18.
Business & Customer Update:
The Company has made following new launches during the quarter: ‐
| Category | Customer Name | Model | Product |
|---|---|---|---|
| Passenger Vehicle | TACO Magna | Harrier | Seat Frames |
| Nissan Motors | Kicks | Gear Shift Knob | |
| Maruti Suzuki | Wagon R (New) | Gear Shift Lever & Knob | |
| Maruti Suzuki | Ertiga (New) | Gear Shift Lever – MT & AT | |
| Commercial Vehicle | Volvo Eicher | Pro 6041 | Gear Shift Lever |
| Pro 6031 | Gear Shift Lever |
During the quarter, the Company’s Board of Directors has approved the merger of Lumax DK Auto Industries Ltd., a wholly owned subsidiary Company with your Company. On approval of the scheme by the Jurisdictional Hon’ble Company Law Tribunal, it will be effective from April 1, 2018.
Awards:
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The Pantnagar plant of the subsidiary Company Lumax DK Auto Industries Ltd. won “Excellence in Manufacturing” in ACMA awards held in Pune on January 29[th] & 30[th] , 2019.
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The subsidiary Company Lumax Cornaglia Auto Technologies Ltd. won silver award in “Manufacturing Excellence” in ACMA awards held in Pune on January 29[th] & 30[th] , 2019.
Commenting on the results Mr. Anmol Jain, MD, Lumax Auto Technologies said “ All the major OEM’s have reported a mixed growth due to multiple concerns like mismatch of festive season, variation in fuel price, new insurance norms, tighter liquidity, higher interest cost, moderate economic activity etc. leading to passive sentiments among the consumers. There were price hikes as well as discounts strategy during the festive seasons but unable to make greater impact on the end customer behavior.
Despite soft performance by the industry, we are delighted to report a healthy growth of 31% YoY basis for the 9MFY19 on back of continued progress in every quarter. Our operational efficiencies have been enhanced over the past few quarters led by multiple cost control programmes. Our diverse product mix,
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Investor Release
strong brand recall and long‐lasting relationship with our customer has been our forte behind our success. We foresee our team will continue to outperform industry in coming quarters.”
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 Module, Frame Chassis, Integrated Plastic Modules, Gear Shift Lever, Intake systems, Seat Frames, etc). We are market leaders in Design, Testing and Manufacturing Gear Shift levers 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.lumaxautotech.com/
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 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 Ltd CIN No: L31909MH1981PLC025519 Priyanka Sharma Email id:[email protected] |
Strategic Growth Advisors Pvt Ltd. CIN No: U74140MH2010PTC204285 Rahul Agarwal / Shrikant Sangani Email id:[email protected] [email protected] Tel No: +91 79770 90416 / +91 96195 9566 |