Lumax Auto Technologies Ltd. — Interim / Quarterly Report 2021

Nov 10, 2020

LATL:Q2:BM:2020-21

BSE Limited Listing Compliance Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

The National Stock Exchange of India Limited Listing Compliance Department Exchange Plaza, C-1 Block G, Sandra Kurla Complex, Sandra (El, Mumbai - 400051

Security Code : 532796

Symbol: LUMAXTECH

Subject: Outcome of the Board Meeting held on Tuesday, 10th day of November, 2020

Dear Sir/Ma'am,

Pursuant to the provision of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements; Regulations, 2015 (hereinafter referred to as "the Listing Regulations"), we would like to inform you that the Board of Direeter-s, at- their- meeting held today i.e. Tuesday; l&\11 day- of November-, 2020, thmugh video conferencing, has inter-alia, considered· and approved the following matters:

• 1. Standalone and Consolidated Un-Audited Financial Results for the 2nd quarter and half year ended September 30, 2020 as recommended by the Audit Committee. A copy of the Standalone and Consolidated Un-Audited Financial Results and the Limited Review Reports of Statutory Auditors i.e. S.R. Batliboi & Co. UP are enclosed herewith as per Regulation 33 of the. listing Regulations.
• 1. Re-Appointment of Mr. Maneesh Gupta, Practicing Company Secretary (FCS 4982), New Delhi as Secretarial Auditor for the Financial Year 2020-2021.
• 1. Payment of remuneration being paid to Mr. Deepak Jain, (DIN: 00004972) Non-Executive Director for the Financial Year 2020-21, as per Regulation 17 (6) (ca) of the Listing Regulations (as amended), subject to the approval of Shareholders by way of a special resolution, as recommended by the Nomination and Remuneration Committee.
• 1. To seek approval of the Shareholders with respect to the Material Related Party Transactions with Lumax Industries limited, a related party, during the financial year 2020-2021, as recommended by the Audit Committee. ·
• 1. Draft notice of Postal Ballot along with the explanatory' statement, Postal Ballot Form and other related documents thereof to seek the approval of the shareholders of the Company for item numbers 3 & 4 above.
• 1. Appointment of Mr. Surinder Vashishtha, Practicing Company Secretary (ACS No.21285) as Scrutinizer to conduct the Postal Ballot process in fair and Transparent manner. The Board has also fixed the cut-off date as December 04, 2020 to determine the eligible shareholders to whom the postal ballot notice would be sent and for the purpose of e-voting.

~ ~ LumaK Auto Teehnolocies Limited

i5 Regd. Office: ~ ~ 2nd Aoor, Harbans Bhawa n-11, ..., ..., Commerci al Comple><, Nangal Raya. z O New Delhi - 110046, India

T +91 11 4985 7832 E shares@lumumall.com

The Extracts of Consolidated results would be published in the Newspapers in terms of Regulation 47(1) of the Listing Regulations, as amended from time to time and same shall be placed on the website of the Company at www.lumaxworld.in/lumaxautotech.

The Meeting of the Board of Directors commenced at 05.00 P.M. and concluded at 07:10 P.M.

You are requested to kindly take the above information in your records.

Thanking you,

Yours faithfully,

For LUMAX AUTO TECHNOLOGIES LIMITED

ANIL TVAGI COMPANY SECRETARY M. NO. A1682S

Encl: As stated above

,., ti! 5 ~

i Lumax Auto Technolo1tes Limited ....

~2 Eshares@lumaxmail.com nd Floor, Harbans Shawan-11, ...

-' Commercial Complex, Nangal Raya, z DK JAIN

O New Delhi - 110046, India www.lumaxworld.in GROUP

~ Regd. Office: T +9111 4985 7832

Lumax Auto Technologies Limited

Regd. Office : 2nd Floor, Harbans Bhawan-II, Commercial Complex, Nangal Raya, New Delhi-110046 Website:www.jumaxworld.in/lumaxautotech Tel: +91 11 49857832Website:www.jumaxworld.in/lumaxautotech Tel: +91 11 49857832Email: shares@lumaxmail.com, CIN: L31909DL1981PLC349793

	(Rs. in Lakhs unless otherwise stated)Statement of Standalone un-audited financial results for the half year and quarter ended September 30, 2020
Half year ended
Sr. No.	Particulars	30.09.2020	Quarter ended30.06.2020	30.09.2019	30.09.2020	30,09,2019	Year ended31.03.2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Continuing operationsIncome from operations
	Revenue from contracts with customers	23,518,43	6.078.59	24,716,95	29,597.02	48,292.85	94.236.07
	Other income	598.37	512.77	901.14	1.111.14	1,391.60	2.717.95
	Total Income	24,116.80	6,591.36	25,618.09	30,708.16	49,684.45	96,954.02
$\overline{2}$	Expenses
	a) Cost of raw materials, components and moulds consumed	12,624,31	3,401.27	13,348.90	16,025.58	26, 336.54	50.228.88
	b) Purchases of traded goods	3,572.12	544.09	3,764.89	4,116.21	7,034.73	15,484.12
	c) Changes in inventories of finished goods, work-in-progress
	and traded goods	128.85	266,99	(140.90)	395.84	(164.17)	(542.28)
	d) Employee benefits expense	2.301.63	1,562.04	2,396.33	3,863.67	4,775.12	9,592.30
	e) Finance Costs	193,50	259.22	177,96	452.72	349.08	713.98
	(f) Depreciation and amortisation expense	618.62	588,43	678.22	1,207.05	1.356.92	2.694.69
	g) Other expenses	2.795.88	996.75	3,334.18	3, /92.63	6,308.35	12,657.28
	Total expenses	22,234.91	7.618.79	23,559.58	29,853.70	45,996.57	98,828.97
3$\overline{\bf{4}}$	Profit/(Loss) before tax from continuing operations (1-2)	1,881,89	(1,027.43)	2,058.51	854,46	3.687.88	6,125.05
	Tax ExpensesCurrent tax	219.11		199.71
	Adjustment of tax relating to earlier years	3.90	11.65	(12.62)	230.763.90	858.86(2.50)	1.549.71(40.17)
	Deferred tax	236.54	(270.22)	(324.49)	(33, 68)	(440.72)	(511.87)
5	Net Profit/(Loss) for the period / year from continuing operations	1,422.34	(768.86)	2,195.91	653,48	3,272.24	5,127.38
ő	Discontinued operations
	Profit before tax for the period / year from Discontinued operations	٠	٠		$\blacksquare$	948.58	948.58
	Tax expense of Discontinued Operations			(208.18)		123,29	123.29
	Profit for the period / year from Discontinued operations			208,18		825.29	825.29
$\mathbf{z}$	Profit/(Loss) for the period / year (5+6)	1,422.34	(768, 86)	2,404.09	653,48	4,097.53	5,952.67
8
	Other Comprehensive income / loss (net of taxes)
	Other Comprehensive Income not to be reclassified to statement of profit and loss insubsequent period -
	Re-measurement loss on defined benefits plans	(13.58)	(13.58)	(7.15)	(27.16)	(14.10)	(54.31)
	Income tax effect	1.65	1.65	2.21	3.30	4.42	13.67
	Gain/(Loss) on FVTOCI equity securities	1,250.81	1,139.25	(229.50)	2,390.06	(3,043.87)	(5, 113.50)
	Income tax effect			67.44		91.63	48.84
9	Total comprehensive income for the period / year (net of tax)	2,661.22	358,46	2,237.09	3,019.68	1,135.61	847.37
10	Earnings per share (Rs. per share of face value of Rs. 2 each)
	Earnings/(Loss) per share for Continuing operations (In Rs.):
	Basic & Diluted	2.00	(1.13)	3.22	0.95	4.80	7,52
	Earnings per share for Discontinued operations (In Rs.):
	Basic & Diluted		ä,	0.31	٠	1,21	1.21
	Earnings/(Loss) per share for Continuing and Discontinued operations: (In Rs.):
	Basic & Diluted	2.09	(1.13)	3.53	0.95	6.01	8.73

S. No.	Statement of Assets and LiabilitiesParticulars	As at30.09.2020(Unaudited)	As at31,03,2020(Audited)
Ť	ASSETS
	Non-current assets
	Property, Plant and Equipment	20,297.13	20,342.65
	Capital work-in-progress	320.23	113.05
	Investment property	1,787.14	1,815.92
	Right-to-use asset	1,970.16	2,141.78
	Other Intangible assetsInvestment in jointly controlled entities	109.846,361.22	133,716,211.22
	Financial Assets
	Investments	7,404.22	5,014.16
	Loans	483.31	471.16
	Other financial assets	5.00	150.00
	Income Tax Assets (net)	101.10	78.99
	Other non-current assets	1,356.30	1,357.91
	Sub-Total Non-Current assets (A)	40,195.65	37,830,55
	Current assets
	Inventories	3,404.43	3,963.97
	Financial Assets
	Loans	39.853,970,77	47.851,130,70
	Investments	17,780.24	16,484.89
	Trade receivablesCash and cash equivalents	122.46	3,114.93
	Other bank balances	2,464.90	4,516.05
	Other financial assets	862.89	271.87
	Other current assets	1,157.10	1,354.82
	Assets Held for Sales	366,22	366,22
	Sub-Total Current assets (B)	30,168.86	31,251.30
	Total Assets (A+B)	70,364,51	69,081.85
Ħ	EQUITY & LIABILITIES
	Equity Share capital	1,363.15	1,363.15
	Other equity	42,404.67	40,066.57
	Total equity (A)	43,767,82	41,428.72
	Non-current liabilitiesFinancial liabilities
	Borrowings	26.84	11.62
	Deferred tax liabilities (net)	1,200.76	1,237.74
	Other non-current liabilities	1,753.43	1,856,65
	Sub-total non-current liabilities (B)	2,981.03	3,106.01
	Current liabilities
	Financial Liabilities
	Borrowings	2,965.88	6,500.00
	Trade payables
	- total outstanding dues of micro and small enterprises	836.76	651.22
	- total outstanding dues of creditors other than micro and small enterprises	12,537.29	11,611.46
	Other current financial liabilities	2.413.24	1,896.45
	Provisions	1,147.85	1,037.19
	Other current liabilities	3,714.64	2,849.80
	Sub-total current liabilities (C)	23,615.66	24,546.12
	Total Equity and Liabilities (A+B+C)	70,364.51	69,081.85

Particulars	Half year ended30.09.2020(Unaudited)	Half yoat ended30.09.2019(Unaudited)
Cash Flow from Operating ActivitiesProfit before tax from continuing operations
Profit before tax from discontinued operations	854.46	3,687.88
Non-cash adjustments:	٠
Adjustment to reconcile profit before tax to net cash flows
Depreciation of property, plant and equipment	982.78	1,356.92
Amortisation of intangible assets	195.49
Depreciation on investment properties	28.78
Profit on sale of Property, plant and equipment
Dividend Income	(127.22)
Liabilities/ provisions no longer required, written back	(38.60)
Provision for doubtful debt
Outstanding Balance written off	0.09
	0.99
Unrealised exchange loss
Rent incomeInterest income	(244.47)
	(222.08)
Interest expenses	452.72
Unrealised gain on investment in mutual fund	(118.39)
Operating profit before working capital changes	1,764.55	4,491.05
Movements in working capital:
(Increase)/Decrease in trade receivables	(1, 297.35)	4, 167, 78
Increase in financial assets	(488.04)	(4, 331.49)
Decrease/ (Increase) in other assets	2.315.96
Decrease/ (Increase) in inventories	559,54
Increase/ (Decrease) in trade payable and other payable	1,150.97	(4,310.09)
Increase in current liabilities, provisions, financial liability	1,355.08	4,859.72
Cash generated from operations	5,360.71	3,634.50
Direct taxes paidNet cash generated from operating activities (A)	(322, 32)5,038.39
Cash flows from investing activities
Purchase of fixed assets (including capital in progress and capital advances).	(1, 144.44)
Dividend receieved	127.22
Investments in subsidiary and Joint ventures	(150.00)
Purchase of current investments	(2, 721, 43)
Realised Gain on investment in mutual fund	(0.24)
Rent received	244.47
Interest received	259,95
Net cash used in investing activities (B)	(3, 384.47)
Cash flows from financing activities
Proceeds/ (Repayment) from long term borrowings (net)	15.22
Proceeds/ (Repayments of) from short term borrowing (net)	(3, 534, 12)
Dividend paid (including tax thereon)	(681.58)	(2,406.01)
Interest paid	(445.91)	(1, 119.55)
Net cash used in financing activities (C)	(4, 646, 39)
Net (decrease)/ increase in cash and cash equivalents (A + B + C)	(2,992.47)
Cash and cash equivalents at the beginning of the year	3,114.93
Cash and cash equivalents at the end of the year	122.48
Components of cash and cash equivalents
Cash on hand	4.03
Balance with banks
- On current accounts- Deposits with original maturity of less than three months	118.43

Notes:

l1. These financial results have been prepared in accordance with Indian Accounting Standards (Ind - AS) as prescribed under Section 133 of the Companies Act 2013 read with Rule 3 of the Companies (Indian|Accounting Stan

1. The above standalone financial results have been duly reviewed by the Audit Committee and approved by the Board of Directors in the meeting held on November 10, 2020. The statutory audtors of the Company have conducted Audit of these standalone financial results pursuant to regulation 33 of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015.

i|3. The Company's business activity falls within a single business segment i.e. manufacturing and trading of Automotive Components and therefore, segment reporting in terms of Ind-AS 108 on Segmental Reporting|is not ap

1. The Company's operation were adversely impacted by the outbreak of the COVID-19 pandemic and consequent lockdown announced by the Government of India. The operations have been resumed with requisite precautions in place

2. The Code on Social Security 2020 (Code), which received the Presidential Assent on 28 September 2020, subsumes nine laws relating to social security, retirement and employee benefits, including theEmployees Provident F Employe

3. Subsequent to the quarter ended September 2020, the Company has acquired balance stake from the JV partner, Gill Austem LLC in respect of Lumax Gill-Austem Auto Technologies Private Limited (Further,name of Lumax Gill-

4. On June 17, 2020, the Board of Directors had recommended a final dividend of Re. 1 per equity share for the financial year ended March 31, 2020, which has been approved by the shareholders in the AnnualGeneral Meeting

5. The above financial results are available on the Company's website www.lumaxworld.in/lumaxautotech and also on the websites of NSE (www.nselndia.com) and BSE (www.bseindia.com)

Place : New Delhi Date: November 10, 2020

For and on behalf of the Board of Directors Marca D K Jain

Chairman DIN: 00085848

S.R. BATLIBOI & Co. LLP Chartered Accountants

'1th Floor, Office t!OS World Mark · 2, Asset No. 8 IGI Airport Hospitality District. Aerocitv New Delhi · 110 037, India

Tel : +91 11 4081 9500 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Lumax Auto Technologies Limited

• I. We have reviewed the accompanying statement of unaudited standalone financial results ofLumax. Auto technologies Limited (the "Company") for the quarter ended September 30,2020 and year to date from April 01, 2020 to September 30, 2020 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 24 I 0, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by th<: Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial infonnation consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that' the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S.R. BATLIBOI & Co. LLP Chartered Accountants ICAI Fi istratio~umber: 301003E/E300005

per Vikas Partner Membership No.: 09442 I

*~ €·*

UDIN: 2009442I AAAAFK

Place: New Delhi Date: IO'h November, 2020

Lumax Auto Technologies Limited Regd. Office : 2nd Floor, Harbans Bhawan-II, Commercial Complex, Nangai Raya, New Delhi- 110046Website:www.Jumaxworld.in/lumaxautotech Tel: +91 11 49857832Email: shares@lumaxmail.com, CIN: L31909DL1981PLC349793

			Quarter ended		Half year ended		Year ended
Sr. No.	Particulars	30.09.2020(Unaudited)	38,96,2020(Unaudited)	30.09.2019(Unaudited)	30.09.2620(Unaudited)	30,09,2019(Unaudited)	31.03.2020(Audited)
	Continuing Operations
1	Income from operations
	Revenue from contracts with customers	28,376.58	7,098.35	29, 363.04	35,474.93	58,117.07	1,14,091.38
	Other incomeTotal Income	334.8328,711.41	397.337,495.68	249.5329,612.57	737.1636,207.09	615.13	1.810.15
$\overline{\mathbf{z}}$	Expenses					58,732.20	1,15,901.53
	a) Cost of raw materials, components and moulds consumed	15,445.60	4,003.95	16,267,67	19,449.55	32, 307, 36	62,070.27
	b) Purchases of traded goods	3,572.12	544.09	3,778.88	4,116.21	7,049.86	15,484.12
	c) Changes in inventories of finished goods, work-in-progress	36.51	251.63	(39.43)	288.14	(2.58)	(315.60)
	and traded goodsd) Employee benefits expense	3,125,93	2,248,88	3,394.31	5,374.81	6,802,43	13,477.81
	e) Finance Cost	245.87	318.09	241.96	563.96	457.87	956.24
	f) Depreciation and amortisation expense	809,98	783.14	892.40	1,593.12	1,748.97	3,450.92
	g) Other expenses	3,218.77	1,295.68	3,215.97	4,514.45	6,714,58	14.279,39
з	Total expensesProfit/(Loss) before share of joint ventures and tax from continuing operations ( 1-2)	25,454.782,256.63	9,445.46(1,949.78)	27,751.761,860.81	35.900.24306.85	55,078.493,653.71	1.09.403.156,498.38
4	Share of Profit/(loss) of joint ventures	3.95	3.91	(9.02)	7,86	(5.80)	(30.10)
5	Profit/(Loss) before tax from Continuing Operations (3+4)	2,260.58	(1, 945.87)	1,851.79	314.71	3,647.91	6,468,28
6	Tax Expenses
	Current TaxAdjustment of tax relating to earlier years	314.123.90	11.65	334.51(11.40)	325.773.90	1,123.12(1.03)	1,988.12(50.01)
	Deferred Tax	368.68	(474, 12)	(460, 17)	(105, 44)	(620.02)	(570.27)
7	Net Profit/(Loss) for the period / year from continuing operations	1,573.88	(1,483,40)	1,988.85	90.48	3, 145, 84	5,100.44
8
	Discontinued OperationsProfit before tax for the period / year from Discontinued operations	ä,			٠	948.58	948.58
	Tax expense of Discontinued Operations			(208.18		123.29	123.29
	Profit for the period / year from Discontinued operations	٠		208.18	٠	825.29	825.29
$\mathbf{9}$	Profit/(Loss) for the period / year (7+8)	1,573.88	(1,483.40)	2,197.03	90,48	3,971.13	5,925.73
10	Other Comprehensive Income / (Loss) (net of taxes)Other Comprehensive Income not to be reclassified to the statement of profit and loss insubsequent years
	Re-measurement loss/(gain) on defined benefits plans	(5.54)	(8.97)	0.43	(14.51)	(4.27)	(29.14)
	Income tax effect	(0.42)	0.51	0.68	0.09	2.49	7.24
	Gain/(I nss) on EVTOCI equity securitiesIncome tax effect	1 250 81	1, 139, 25	(232, 13)70.06	2.390.06	(3.043.87)91.63	(5, 113, 50)48.87
		1,244.85	1,130.79	(160.96)	2,375.64	(2,954.02)	(5,086.53)
	Total comprehensive income/(loss) for the period / year (net of tax) (9+10)	2,818.73	(352.61)	2,036.07	2,466.12	1,017.11	839,20
11	Profit attributable to:
	a) Owners of Lumax Auto Technologies Limited- Profit/(Loss) for the Period/year from Continuing operations	1,534.03	(1, 230.98)	2,083.66	303.05	3,210.05	4,978.60
	- Profit for the Period/year from Discontinued operations			208.18		825,29	825.29
		1,534.03	(1, 230.98)	2,291.84	303.05	4,035.34	5,803.89
	b) Non- controlling interests
	- Profit/(Loss) for the Period/year from Continuing operations	39.85	(252.42)	(94.81)	(212.57)	(64.21)	121.84
	- Profit for the Period/year from Discontinued operations
		38.85	(252.42)	(94.81)	(212.57)	(64.21)	121.84
	c) Total Profit attributable to. (a+b)
	- Profit/(Loss) for the Period/year from Continuing operations	1,573.88	(1,483.40)	1,988.85	90.48	3, 145.84	5,100.44
	- Profit for the Periodiyear from Discontinued operations			208.18		825.29	825.29
		1,573.88	(1,483,40)	2,197.03	90.48	3,971.13	5,925.73
12	Other comprehensive income / (Loss) attributable to:
	a) Owners of Lumax Auto Technologies Limited- Other comprehensive income/(loss) for the Period/year from Continuing operations	1,242.49	1,129.69	(163, 40)	2,372.18	(2, 956.87)	(5,093.40)
	- Other comprehensive income/(loss) for the Period/year from Discontinued operations
		1,242.49	1,129.69	(163, 40)	2,372.18	(2,956,87)	(5,093.40)
	b) Non- controlling interests- Other comprehensive income/(loss) for the Period/year from Continuing operations	2.36	1,10	2.44	3,48	2.85	6,87
	- Other comprehensive income/(loss) for the Period/year from Discontinued operations
		2.36	1.18	2.44	3,46	2,85	6,87
	c) Total Other comprehensive income/(loss) to Non- controlling interests (a+b)
	- Other comprehensive income/(loss) for the Period/year from Continuing operations- Other comprehensive income/(loss) for the Period/year from Discontinued operations	1,244.85	1,130.79	(166.96)	2,375.64	(2,954.02)	(5,086.53
		1.244.85	11070	1468 981	2,776,64	12 054 021	F3 ass 81

13	Total comprehensive income/(loss) attributable to: (11+12)a) Owners of Lumax Auto Technologies Limitedb) Non-controlling interests	2,776.5242.21	1101.291(251, 32)	2,128.44(92.37)	2,675.23(209.11)	1,078.47(61, 36)	710.49128,71
14	Earnings per share (Rs. per share of face value of Rs. 2 each)Earnings/(loss) per share for continuing operations: (In Rs.):Basic & Diluted (in Rs.)	2.25	(1.81)	3.06	0.44	4.71	7.30
	Earnings per share for Discontinued operations: (In Rs.):Basic & Diluted (in Rs.)Earnings/(loss) per share for Continuing and Discontinued operations: (In Rs.):Basic & Diluted (in Rs.)	٠2.25	(1.81)	0.303.36	۰6.44	1.215.92	1.218.52
	Key Standalone Financial InformationRevenue from contracts with customersProfit Before Tax from Continuing operationsProfit Before Tax from Discontinued operationsTotal Comprehensive Income for the period/year	23,518,431,881,892,661,22	6,078.59(1,027,43)358,46	24,716.952,058.512,237.09	29,597.02854,463,019,68	48,292,853,687.68948,581,135,61	94,236,076,125,05948,58847.37

	Statement of Assets and Liabilities
S. No.	Particulars	As at30.09.2020(Unaudited)	As at31.03.2020(Audited)
$\mathbf{I}$	ASSETS
	Non-current assets
	Property, Plant and Equipment	31.571.64	30,742.38
	Capital work-in-progress	2.304.89	2074.02
	Investment property	1,787.14	1,815.92
	Right-to-use asset	2,476.23	2,733.67
	Goodwill	16.64	16.64
	Other Intangible assets	291.80	195.12
	Investment in jointly controlled entities	83.04	75.17
	Financial AssetsInvestments	7,404.22	5,014.16
	Loans	595.52	581.11
	Other financial assets	5.00	150.00
	Income Tax Assets (net)	375.20	322.02
	Other non-current assets	1,676.33	1,660.04
	Deferred tax assets (net)	96.86	99.92
	Sub-Total Non-Current assets (A)	48,584.51	45,480.17
	Current assets
	Inventories	6,416,67	6,442.61
	Financial Assets
	Loans	69.05	81.32
	Investments	3,970.77	1,130.70
	Trade receivables	19,424.84	19,277.49
	Cash and cash equivalents	780,89	3,695.76
	Other bank balances	4,424.90	6,666.05
	Other financial assets	194.37	195,30
	Other current assets	2,846.15	2,793.82
	Assets Held for Sales	366.22	366.2240,649.27
	Sub-Total Current assets (B)	38,493.8687, 178, 37	86, 129.44
	Total Assets (A+B)
Ħ	EQUITY & LIABILITIES
	Equity share capital	1,363.15	1,363.15
	Other equity	45,246.27	43,252.61
	Equity attributable to equity holders of the parent (A)	46,609.42	44,615.76
	Non-controlling interests (B)	4,076,64	4,214,07
	Total Equity (A+B)	50,686,06	48,829.83
	Non-current liabilities
	Financial liabilitiesBorrowings	2,084.84	1,676.23
	Provisions	573.75	545.55
	Deferred tax liabilities (net)	1,263,66	1,372.26
	Other non current liabilities	2,057.62	2,135.46
	Sub-total non-current liabilities (C)	5,979.87	5,729.50
	Current liabilities
	Financial Liabilities
	Borrowings	3,350.79	7,152.41
	Trade payables		885,97
	- total outstanding dues of micro and small enterprises	1,176.0715,338.34	14,853.38
	- total outstanding dues of creditors other than micro and small enterprisesOther current financial liabilities	5,078.39	3,916.15
	Provisions	1,345.86	1,188.27
	Other current liabilities	4,222.99	3,573.93
	Sub-total current liabilities (D)	30,512.44	31,570.11
	Total Equity and Liabilities (A+B+C+D)	87, 178, 37	86, 129.44

Particulars	Half year ended.30.08.2020(Unaudited)	Half year ended.30.09.2019(Unaudited)
Cash Flow from Operating Activities
Profit before tax from continuing operations	314.71	3,647.91
Profit before tax from discontinued operations	٠	948.58
Non-cash adjustments:
Adjustment to reconcile profit before tax to net cash flows
Depreciation of property, plant and aquipment	1,231.93	1,748.97
Amortisation of intengible assets	282,41
Depreciation on investment properties	28.78
Profit on sale of Property, plant and equipment	(1.03)	(960, 20)
Dividend Income	(31.51)	(183.75)
Liabilities/ provisions no longer required, written back	(45.04)	(81, 63)
Share of (gain) loss of a joint venture	(7.86)	5.80
Provision for doubtful debt		89.55
Outstanding Balance written off	0.72	11.39
Unrealised exchange loss	0.99
Rent income	(244.47)
Interest Income	(278.50)	(209.91)
Interest expenses	553.96	457.87
Unrealised gain on investment in mutual fund	(118.39)	(65, 80)
Operating profit before working capital changes	1,746.70	5,408.78
Movements in working capital:(Increase)/Decrease in trade receivables	(148.34)	6,624,80
Decrease/ (Increase) in financial assets	81.06	(4,324.60)
Decrease/(Increase) in other assets	2,202.39	(1,591.78)
Decrease in inventories	25.93	156.73
Increase/(Decrease) in trade payable and other payable	820.11	(5,378.95)
Increase in current liabilities, provisions, financial liability	1,832.28	8,326.27
Cash generated from operations
	6,580.13	8,221.25(1,036.75)
Direct taxes paidNot cash generated from operating activities (A)	(413.42)6,146.71	7.184.50
Cash flows from investing activities
Purchase of fixed assets (induding capital in progress and capital advances)	(2,452.69)	(5, 414, 84)
Non - Controlling Interest	150,00
Dividend Received	31,51	183.75
Purchase of current investments	(2, 721, 43)	(300, 60)
Realised Gain on investment in mutual fund	(0.24)	٠
Rent received	244.47
Interest received
	341.23	87.62(5,443,47)
Not cach used in investing activities (B)	(4, 417, 15)
Cash flows from financing activities
Proceeds from long term borrowings (net)	408.61	1,060.25
lesue of share capital		284.65
(Repayments of)/ Proceeds from short term borrowing (net)	(3, 801.62)	1,608.41
Dividend paid (including tax thereon)	(759.89)	(2,748,26)
Interest paid	(491.53)	(439.77)
Net cash used in from financing activities (C)	(4, 644.43)	(34.72)
Net Increase/(decrease) in cash and cash equivalents $(A + B + C)$	(2.914.67)	1,706.31
Cash and cash equivalents at the beginning of the year	3,695.76	2,600.89
Cash and cash equivalents at the end of the year	780.89	4,307.20
Components of cash and cash equivalents
Cesh on hand	10.88	8.17
Balance with banks
- On current accounts	520.01	1.338.34
- Deposits with original maturity of less than three months	250.00	2,960.69
Total cash and cash equivalents	780.89	4,307.20

Notes:

1. These consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind - AS) as prescribed under Section 133 of the Companies Act 2013 read with Rule 3 of theCompanies (Indian Accou

2. The above Consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 10, 2020. Audit under regulation 33 of SEBI(Listing Obligation

3. The Group business activity falls within a single business segment i.e. manufacturing and trading of Automotive Components and therefore, segment reporting in terms of Ind-AS 108 on Segmental Reporting is

A The Group's operation were adversely impacted by the outbreak of the COVID-19 pandernic and consequent lockdown announced by the Government of India. The operations have been resumed with requisiteIncreations in place.

1. The Code on Social Security 2020 (Code), which received the Presidential Assent on 28 September 2020, subsumes nine laws relating to social security, retirement and employee benefits, including theEmployees Provident F

s. Subsequent to the quarter ended September 2020, the Holding Company has acquired balance stake from the JV partner. Gill Austem LLC in respect of Lumax Gill-Austem Auto Technologies Private Limited{Further, name of Lum

1. On June 17, 2020, the Board of Directors had recommended a final dividend of Re. 1 per equity share for the financial year ended March 31, 2020, which has been approved by the shareholders in the Annual General Meeting held on August 28, 2020. Accordingly, Rs. 681.58 lakhs was appropriated as distribution to equity shareholders during the quarter ended September 30, 2020

2. During the current quarter, Lumax FAE Technologies Private Limited (subsidiary company) started its commercial production at Gurugram, Haryana on September 24, 2020

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1. The above financial results are available on the Company's website www.lumaxworld.in/lumaxautotech and also on the websites of NSE (www.nseindia.com) and BSE (www.bseindia.com)

AND AUTO ECHNO ę WIT SEID

For and on behalf of the Board of Directors D K Jain

Chairman DIN: 00085848

Place : New Delhi Date: November 10, 2020 S.R. BATLIBOL& CO. LLP Chartered Accountants

4th Floor, Office 405World Mark - 2, Asset No. 8 IGI Airport Hospitality District, Aerocity New Delhi - 110 037, India $el : +911140819500$

NEW DEL HIM

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Lumax Auto Technologies Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Lumax Auto Technologies Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), its joint ventures for the quarter ended September 30, 2020 and year to date from April 01, 2020 to September 30, 2020 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• $\overline{3}$ . We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

The Statement includes the results of the following entities:

L.	Lumax Auto Technologies Limited
	Subsidiary Companies
2.	Lumax Mannoh Allied Technologies Limited
3.	Lumax Integrated Ventures Private Limited
4.	Lumax Cornaglia Auto Technologies Private Limited
5	Lumax Management Services Private Limited
6.	Lumax Gill-Austem Auto Technologies Private Limited (Subsequent to period ended, thename has been changed to Lumax Mettalics Private Limited)
7.	Lumax FAE Technologies Private Limited
8.	Lumax JOPP Allied Technologies Private Limited
9.	Lumax Yokowo Technologies Private Limited
	Joint Venture entity
10	Lumax Ituran Telematics Private Limited

Batabus & Co. EtP, a Londed Lapplity Porthus ship with LLP IdentRegi Office 32 Cama: Strapt Bowk & Srdflow, Actist.

S.R. BATUBOI & Co. LLP Chartered Account ants

Joint Venture entity of Lomax ln!e_&!"!'ted Ventures Private limit_ed ______ _ _ 11. Si al En ineerin Private Limited

• 1. Based on our review conducted and procedures perfonned as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to he disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The accompanying Statement includes the interim reviewed financial results in respect of:-
  • Six subsidiaries, whose unaudited interim financial results include total assets of Rs. 19,301.51 lakhs as at September 30, 2020 total revenues of Rs 4,018.75 lakhs and Rs 4,822.76 lakhs total net profit/(loss) after tax of Rs.224.71 lakhs and Rs. (354.11) lakhs, total comprehensive income/(loss) of Rs. 227.47 lakhs and Rs. (347.34) lakhs, for the quarter ended September 30, 2020 and the period ended on that date respectively, and net cash outflows of Rs. 125.33 lakhs for the period fi-om April 01 , 2020 to September 30, 2020 , as considered in the Statement which have been reviewed by their respective independent auditors.
  • One joint venture and one joint venture of one of the subsidiary, whose unaudited interim financial results include Group's share of net profit ofRs.3.95 lakhs and Rs.7.86 lakhs and Group's share of total comprehensive income of Rs. 3.95 lakhs and Rs. 7.86 lakhs for the quarter ended September 30, 2020 and for the period from April 0 I, 2020 to September 30, 2020 respectively, as considered in the Statement whose interim financial results have been reviewed by their respective independent auditors.

The independent auditor's repo1ts on interim financial results of these entities have been fumished to us by the Man_agement a!)d our cc;,ncl_usion on the Statement, in so far as it relates tQ the am9unts and disclosures in respect of these subsidiaries and joint ventures is based solely on the report of s_uch auditors and procedures performed by us a_s stated in p<1~<1graph 3 above.

1. Our conclu.sfon on the Statement in respect of m_att_ei:s. stated. in para 6_ above is_ not_ rnodifi~d with respect to our reliance on the work done and the reports of the other auditors and the financial results certified by the Management.

For S.R. BATLIBOI & Co. LLP Chartered Accountants ICAI Firegistrati number: 301003E/E300005

~cf' perVikas ra Partner Membership No.: 094421

UDIN: 2009442IAAAAFL33 Place: New Delhi Date: IO November 2020