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Lumax Auto Technologies Ltd. Interim / Quarterly Report 2020
62451_rns_2020-02-11_685e4a52-9903-4885-b060-2f80e0d71c38.pdf
Interim / Quarterly Report
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LATL: CS:BM:2019-20
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, Bandra (E), Mumbai - 400051 Company Code: LUMAXTECH
Company Code : 532796
Subject: Outcome of Board Meeting held on Tuesday, 11th February, 2020
Dear Sir/Ma'am,
Pursuant to the provisions of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we are pleased to inform that the Board of Directors, at their meeting held on today i.e. Tuesday, the 11th February, 2020, has inter-alia, considered and approved the following matters:
-
- Standalone and Consolidated Un-audited Financial Results for the 3rd Quarter and Nine Months ended 31st December, 2019 as recommended by the Audit Committee. The Standalone and Consolidated Un-audited Financial Results and Limited Review Report of Statutory Auditors i.e. S.R. Batliboi & Co. LLP are enclosed herewith as per Regulation 33 of the Listing Regulations.
-
- To serve Joint Venture Agreement termination notice to Gill-Aust~m LLC (JV Partner) due to nonperformance of obligation by the JV Partner even after the expiry of the cure period in terms of Joint Venture Agreement. Disclosure as per SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is enclosed as per Annexure 1.
-
- To make an investment of Rs. 1 Lakh for incorporation of new Company viz. "Lumax Yokowo Technologies Private Limited".
-
- To make an investment upto Rs. 7 Crores in new Company proposed to be incorporated viz. "Lu max Yokowo Technologies Private Limited" for business operations.
-
- Appointment of Mr. Maneesh Gupta, Practicing Company Secretary (FCS 4982), New Delhi as Secretarial Auditor for the Financial Year 2019-2020. Disclosure as per SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is enclosed as per Annexure 2.
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 ofthe Board of Directors commenced at 12.15 P.M. and concluded at Ob'. O O P.M.
Lumax Auto Technologies Limited Plot No. -878. Udyog Vihar Phase-V, Gurugram - 122016 Haryana, India
T +91124 4760000 E [email protected]
Lumax Au_to Technologies Limited - REGO. OFFICE : 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi - 110046, T - +9111 4985 7832, E - [email protected]
You are requested to kindly take the above information in your records.
Thanking you,
Yours faithfully,
For LU MAX AUTO TECHNOLOGIES LIMITED
M
ANIL TYAGI COMPANY SECRETARY M.NO. A-16825
Disclosure as per Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015:
| S.No. | Particulars of Events | Details | ||||
|---|---|---|---|---|---|---|
| a) | name(s) of parties with whom the agreementis entered; | i)LumaxAutoTechnologiesLimited(Lumax)ii)Gill-Austem LLC (Gill-Austem) | ||||
| b) | purpose of entering into the agreement; | Not Applicable | ||||
| c) | shareholding, if any, in the entity with whomthe agreement is executed; | LumaxGill-Austemholdsequalandpercentage (50:50) of shareholding of theEquity Share Capital of Lumax Gill-AustemPrivateLimitedAutoTechnologies(JointVenture Company). | ||||
| d) | significant terms of the agreement (in brief)special rights like right to appoint directors,first right to share subscription in case ofissuance of shares, right to restrict anychange in capital structure etc.; | There are Four (4) Directors on the Boardcomprising of two (2) Lumax Directors andtwo (2) Gill-Austem Directors. | ||||
| e) | whether, the said parties are related topromoter/promoter group/group companiesin any manner. If yes, nature of relationship; | No | ||||
| f) | whether the transaction would fall withinrelated party transactions? If yes, whetherthe same is done at "arms length"; | No | ||||
| g) | in case of issuance of shares to the parties,details of issue price, class of shares issued; | Not Applicable | ||||
| h) | anyotherdisclosuresrelatedsuchtoagreements, viz., details of nominee on theof directors of the listedboardentity,potential conflict of interest arising out ofsuch agreements, etc; | Not Applicable | ||||
| i) | in case of termination or amendment ofagreement,listedentityshalldiscloseadditional details to the stock exchange(s):a) name of parties to the agreement;b) nature of the agreement; | Gill-Austema)JointVentureAgreementforb)manufacturing, assembling and selling,exclusively in India, seating Mechanisms,Seating Assemblies and Head Restraints | ||||
| c) date of execution of the agreement;d) details of amendment and impact thereofor reasons of termination and impactthereof. | July 20, 2013c)Due to non-performance of obligation byd)the Gill-Austem even after the expiry ofthe cure period in terms of Joint VentureAgreement |
For LU MAX AUTO TECHNOLOGIES LIMITED
Disclosure as per Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015:
| S. No. | Particulars | Details of information |
|---|---|---|
| 1. | Reason for Change viz appointment, | Since, the Registered Office of the Company has |
| orresignation,removal,deathotherwise | been shifted from Pune, Maharashtra to NCT ofDelhi, the Board of Directors has decided to appoint | |
| Mr. Maneesh Gupta, Practicing Company Secretary | ||
| (FCS 4982), New Delhi as Secretarial Auditor of the | ||
| Company for the Financial Year 2019-2020. | ||
| 2. | Date of appointment& term of | 11th February, 2020 for theDate of Appointment- |
| appointment | Financial Year 2019-2020. | |
| 3. | ofBrief(inprofilecase | Mr. Maneesh Gupta, Practicing Company Secretary, |
| appointment) | New Delhi is registered as a fellow member of the | |
| Institute of Company Secretaries of India registered | ||
| vide no. 4982. He has a professional experience of | ||
| 25 years. His areas of practice includes Companies | ||
| Act, 2013, SEBI, Listing Regulations, Capital Markets | ||
| laws, FEMA related laws, Environmental Laws, | ||
| Labour Laws, Cyber Law Regulations, Intellectual | ||
| Property Rights and Secretarial Audit. | ||
| He has vast experience in dealing with ROC, MCA | ||
| and other government authorities. | ||
| 4. | Disclosure of relationships between | Not Applicable |
| directors in case of appointment ofa Director). |
For LU MAX AUTO TECHNOLOGIES LIMITED
~·
ANIL TYAGI COMPANY SECRETARY M.NO. A-16825
Lumax Auto Technologies Limited
Regd. Office : 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi- 110046
Email: [email protected], CIN: L31909DL1981PLC349793 GROUP
(Rs. in Lakhs unless otherwise stated) Statement of Standalone unaudited financial results for the Nine months and Quarter ended December 31, 2019
| Quarter endedNine months ended | Year ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Sr. No. | Particulars | 31.12.2019(Unaudited) | 30.09.2019(Unaudited) | 31.12.2018(Unaudited) | 31.12.2019(Unaudited) | 31.12.2018(Unaudited) | 31.03.2019(Audited)* | ||
| Continuing operations | |||||||||
| 1 | Income from operations | ||||||||
| Revenue from contracts with customers | |||||||||
| Other income | 24,263.35 | 24,716.95 | 24.593.66 | 72,556,20 | 72,170.32 | 95,764,60 | |||
| Total Income | 385.94 | 901.14 | 595.23 | 1.777.54 | 1,798.77 | 2,317.35 | |||
| 2 | 24,649.29 | 25,618.09 | 25,188.89 | 74,333.74 | 73,969.09 | 98,081.95 | |||
| Expenses | |||||||||
| a) Cost of raw materials, components and moulds consumedb) Purchases of traded goods | 12,634.54 | 13,348.90 | 13,509.22 | 38,971.08 | 40,021,63 | 51,566.42 | |||
| c) Changes in inventories of finished goods, work-in-progress | 4,158.55 | 3,764.69 | 3,937.94 | 11,193.28 | 10,591,96 | 14,761.23 | |||
| and traded goods | 24,88 | (140.90) | (397.24) | (139.29) | (441.17) | 476.98 | |||
| d) Employee benefits expense | 2,483,64 | 2,396 33 | 2,500.20 | 7,258.76 | 7,446.78 | 9,736.73 | |||
| e) Finance Costs | 189,40 | 177.96 | 67.10 | 538.46 | 151.83 | 259.90 | |||
| f) Depreciation and amortisation expense | 688,37 | 678.22 | 541.28 | 2,045.29 | 1,582.15 | 2,244.69 | |||
| g) Other expenses | 2,878,86 | 3,334.18 | 3,061.92 | 9,187.21 | 6,747.96 | 11,843,56 | |||
| Total expenses | 23,058.24 | 23,559.58 | 23 220.42 | 69,054.81 | 68,103.36 | 90,889.51 | |||
| 3 | Profit before tax from continuing operation (1-2) | 1,591.05 | 2,058.51 | 1,968.47 | 5,278.93 | 5,865.73 | 7,192.44 | ||
| 4 | Tax Expenses | ||||||||
| Current tax | 483.72 | 199.71 | 667.91 | 1,342.58 | 1,800 45 | 2,340.31 | |||
| Adjustment of tax relating lo ear1ier years | (37.67) | (12.62) | 3 12 | (40.17) | 25,29 | 25,25 | |||
| Deferred tax | (83.62) | (324.49) | 8.36 | (524.54) | 72 26 | 135,41 | |||
| 5 | Net Profit for the year/ period from continuing operations (3 - 4) | 1,228.82 | 2,195.91 | 1,289.08 | 4,501.06 | 3,967.71 | 4,691.47 | ||
| 6 | Discontinued operations (refer note - 6) | ||||||||
| Profit before lax for the period I year from Discontinued operations | 327.23 | 948.58 | 1,510.86 | 1,758.42 | |||||
| T□x expenses | (208.18) | 111.03 | 123.29 | 512.64 | 492.42 | ||||
| Profit for the period / year from discontinued operations | 208.18 | 216.20 | 825.29 | 998.22 | 1,266.00 | ||||
| 7 | Profit for the period / year (5+6) | 1,228.82 | 2,404.09 | 1,505.28 | 5,326.35 | 4,965.93 | 5,957.47 | ||
| 8 | Other Comprehensive Income | ||||||||
| Other Comprehensive Income not lo be reclassified to statement of profit and loss | |||||||||
| Re-measurement gainl(loss) on defined benefits plans | (7.06) | (7 15) | 12.03 | (21.16) | 36.09 | (28.84) | |||
| Income lax effect | 1.47 | 2.21 | (4.20) | 5.89 | (12.61) | 10.07 | |||
| (Loss) I Gain on FVTOCI equity securities | 217 62 | (229 50) | (1,403.77) | (2,826.25) | (2,615.57) | (1,879 81) | |||
| Income tax effect | 67.44 | 162,62 | 91.63 | 302.03 | 154 70 | ||||
| 9 | Total comprehensive income for the period/ year comprising net profit for the | 1,440.85 | 2,237.09 | 271.96 | 2,576.46 | 2,675.87 | 4,213.59 | ||
| period I year and other comprehensive Income (7+8) | |||||||||
| 10 | Earnings per share (Rs. per share of face value of Rs. 2 each ) | ||||||||
| Earnings per share for Continuing operation (In Rs.) : | |||||||||
| Basic & Diluted | 1,80 | 3,22 | 1.89 | 6.60 | 5.82 | 6.88 | |||
| Earnings per share for Discontinued operation (In Rs.) : | |||||||||
| Basic & Diluted | 0.31 | 0,32 | 1.21 | 1 47 | 1.86 | ||||
| Earnings per share for Continuing and Discontinued operation: (In Rs.): | |||||||||
| Basic & Diluted | 1.80 | 3.53 | 2.21 | 7.81 | 7.29 | 8.74 | |||
Notes:
1. 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 Standards), Rules 2015 and/ or any Statutory Modifications and/ or Re-enactment thereof.
2. The above financial results have been duly reviewed by the Audit Committee and approved by the Board of Directors in the meeting held on February 11, 2020.
3, The company has received order from the Hon'ble National Company Law Tribunal and filed the same with the Registrar of Companies. As a result, Lumax DK Auto Industries Limited 901 merged with the company with effect from 1st April, 2018. The impact of the merger has been considered in the above financial results of the Company for the year ending March 31, 2019, nine months ended December 31, 2019 & December 31, 2018 and quarter ended December 31, 2018,
• Further the Ind AS financial statements of Lumax DK Auto Industries Limited which has been merged above were audited by another firm of Chartered Accountants who had expressed an unqualified opinion on March 31, 2019 financial statements.
4. Pursuant to The Taxation Laws (Amendment) Ordinance, 2019 issued, the tax rates have changed with effect from April 1, 2019, and the company plans to pay tax at reduced rate. Consequent to this, the Company has already recomputed provision for income tax for the six months ended September 30, 2019 and accordingly, remeasured its deferred tax basis rates prescribed in the said ordinance. Accordingly ,the impact of the same has already been charged to the statement of profit and loss during the quarter ended September 30, 2019.
- The details of discontinued operation which was carried in the previous year are as below
| Quarter ended | Nine months ended | Year ended | |||||
|---|---|---|---|---|---|---|---|
| 31.12.2019 | 30.09.2019 | 31.12.2018 | 31.12.2019 | 31.12.2018 | 31.03.2019 | ||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| IA. Total Income | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 2.992.00 | 13,900.98 | 17,160.97 | ||
| B. Total Expenses | $\overline{\phantom{a}}$ | ÷ | 2.664.77 | 12.390.12 | 15.402.55 | ||
| C. Profit Before Tax (A-B) | 327.23 | 948.58 | 1.510.86 | .758.42 |
s. The board has approved to serve termination notice to one of its JV partner, Gill Austem LLC, due to non performance of obligation by the partner even after the expiry of cure period in terms ofJV agreement. The compan
||7. 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
- 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)
For and on behalf of the Board of Directors AUTO $\overline{\phantom{a}}$ TECHNI Place : Gurugram D K Jain Date: February 11, 2020 ¥ Chairman ġ ō ALS LIA
S.R. BATUBOL& CO. LLP Chartered Accountants
4th Floor, Office 405 World Mark - 2, Asset No. 8IGI Airport Hospitality District, Aerocity New Delhi - 110 037, India Tel: +91 11 4681 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
-
- We have reviewed the accompanying statement of unaudited standalone financial results of Lumax Auto Technologies Limited (the "Company") for the quarter ended December 31, 2019 and year to date from April 1,2019 to December 31, 2019 (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").
- $\overline{2}$ . 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.
-
- 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.
- $\Delta$ . 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.
-
- The comparative Ind AS financial information of the Company in respect of erstwhile subsidiary, now merged with the company, for preceding quarter and nine month ended December 31, 2018, included in these standalone Ind AS financial results, were reviewed by the predecessor auditor and the Ind AS financial statements of the Company in respect of erstwhile subsidiary, now merged with the company for the year ended March 31, 2019, were audited by predecessor auditor who expressed an unmodified opinion on those financial information.
For S.R. BATLIBOI & CO. LLP Chartered Accountants ICAI Firm/registration number: 301003E/E300005
privel Per Vikas Mehra Partner Membership No.: 094421
UDIN: 20094421AAAAAL1558 Place: New Delhi Date: February 11, 2020
Lumax Auto Technologies Limited
Regd. Office : 2nd Floor, Harbans Preuvo - Islamercial Complex, Nangal Raya, New Delhi- 110046Website:www.lumaxworld.in/lumaxautotech Tel: +91 11 49857832Email: [email protected], CIN: L31909DL1981PLC349793
(Rs. in Lakhs unless otherwise stated)
| Statement of Consolidated un-audited financial results for nine months and quarter ended December 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|
| Quarter ended | Nine months ended | Year ended | |||||
| Sr. No. | Particulars | 31.12.2019(Unaudited) | 30.09.2019(Unaudited) | 31.12.2018(Unaudited) | 31.12.2019(Unaudited) | 31.12.2018(Unaudited) | 31.03.2019(Audited) |
| Continuing Operations | |||||||
| 1 | Income from operations | ||||||
| Revenue from contracts with customersOther income | 28,699.92542.57 | 29.363.04249 53 | 29,184.96596.23 | 86,816 991.157.70 | 88,626.961,154.93 | 118,697.871,395 34 | |
| Total Income | 29,242.49 | 29,612.57 | 29,781.19 | 87,974.69 | 89,781.89 | 120,093.21 | |
| $\overline{2}$ | Expenses | ||||||
| a) Cost of raw materials, components and moulds consumedb) Purchases of traded goods | 15,025.464,286.31 | 16,267.673,778.88 | 16,671.053,937.94 | 47,332.8211,336.17 | 50,192.5510,591.96 | 65,158.6314,772.24 | |
| c) Changes in inventories of finished goods, work-in-progress | 137.10 | (39.43) | (501.89) | 134 52 | (565.48) | 494.70 | |
| and traded goods | |||||||
| d) Employee benefits expensee) Finance Cost | 3,474.28255 92 | 3,394.31241.96 | 3.502.5483.23 | 10,276.71713.79 | 10.194.65179.68 | 13,229.47317.87 | |
| Depreciation and amortisation expenseslĐ. | 873.75 | 892.40 | 651.81 | 2,622.72 | 1,917.85 | 2,706.58 | |
| g) Other expensesTotal expenses | 3,389.8727,442.69 | 3,215.9727,751.76 | 2,969.2727,313.95 | 10,104.4582,521.18 | 9,807.4882,318.69 | 14,026.38110,705.87 | |
| Profit before share of joint ventures exceptional items and tax from continuing | 1,799.80 | 1,860.81 | 2,467.24 | 5,453.51 | 7,463.20 | 9,387.34 | |
| 3 | operations (1-2) | ||||||
| 4 | Share of profit / (loss) of jointly controlled entities (profit/(loss) after tax) | (8.11) | (9.02) | (7.31) | (13.91)5,439.60 | (20, 44)7,442.76 | (25.44)9,361.90 |
| 56 | Profit before exceptional items and tax $(3 + 4)$Exceptional Items | 1,791.69 | 1,851.79 | 2,459.93 | (529.08) | (603, 11) | |
| $\overline{\phantom{a}}$ | Profit before tax from Continuing Operations (5+6) | 1,791.69 | 1,851.79 | 2,459.93 | 5,439.60 | 6,913.68 | 8,758.79 |
| 8 | Tax ExpensesCurrent Tax | 567.44 | 334.51 | 808.30 | 1,690.56 | 2,337.29 | 2,976.59 |
| Adjustment of tax relating to earlier periods | (48.98) | (11.40) | 0.03 | (50.01) | 6.45 | 9.77 | |
| Deferred Tax | (57.78) | (460.1/ | 32.22 | (67/80) | 1.91 | 149.38 | |
| 9 | Net Profit for the period/ year from Continuing Operations (7-8) | 1,331.01 | 1,988.85 | 1,619.38 | 4,476.85 | 4,561.97 | 5,623.05 |
| 10 | Discontinued Operations (Refer Note 4) | ||||||
| Profit before tax from Discontinued OperationsTax expenses | ÷ | (208.18) | 327 23110.21 | 948.58123.29 | 1,510.86512.64 | 1,758.42492.42 | |
| Profit for the year from Discontinued operations | $\bullet$ | 208.18 | 217.02 | 825.29 | 998.22 | 1,266.00 | |
| 11 | Net Profit for the year / period | 1,331.01 | 2,197.03 | 1,836,40 | 5,302.14 | 5,560.19 | 6,889.05 |
| 12 | Other Comprehensive Income (net of taxes) | ||||||
| Other Comprehensive income not to be reclassified to the statement of profit and loss in | |||||||
| subsequent years | |||||||
| Re-measurement gain/(loss) on defined benefits plansIncome tax effect | (3.46)1.79 | 0.430.68 | 1.53(1, 31) | (7.73)4.28 | 20.02(8.20) | (9.34)4 5 6 | |
| (Loss) / Gain on FVTOCI equity securities | 217.62 | (232.13) | (1,403,77) | (2,826,25) | (2,615,57) | (1, 879.81) | |
| Income tax effect | 215.95 | 70.06(160.96) | 162.62(1, 240.93) | 91.63(2,738.07) | 302.03(2,301.72) | 154.70(1,729.89 | |
| Total Comprehensive Income for the period / year comprising Net Profit for the | 1,546.96 | 2,036.07 | 595.47 | 2,564.07 | 3,258.47 | 5,159.16 | |
| period/ year and other Comprehensive Income (11+12) | |||||||
| 13 | Profit attributable to: | ||||||
| a) Owners of Lumax Auto Technologies Limited | |||||||
| - Profit for the Period from Continuing operations | 1,161.22 | 2,083.66 | 1,519.82 | 4,371.27825.29 | 4.368.29998.22 | 5,322.78 | |
| - Profit for the Period from Discontinued operations | 1,161.22 | 208.182,291.84 | 217.021,736.84 | 5,196.56 | 5,366.51 | 1,266.006,588.78 | |
| b) Non- controlling interests | |||||||
| - Profit for the Period from Continuing operations | 169.79 | (94.81) | 99.56 | 105.58 | 193.68 | 300.27 | |
| - Profit for the Penod from Discontinued operations | |||||||
| 169.79 | (94.81) | 99.56 | 105.58 | 193.68 | 300.27 | ||
| c) Total Profit attributable to: (a+b)- Profit for the Period from Continuing operations | 1,988.85 | 1,619.38 | 4,476.85 | 4,561.97 | 5,623.05 | ||
| - Profit for the Period from Discontinued operations | 1,331.01 | 208.18 | 217.02 | 825.29 | 998.22 | 1,266.00 | |
| 1,331.01 | 2,197.03 | 1,836.40 | 5,302.14 | 5,560.19 | 6,889.05 | ||
| 14 | Other comprehensive income / (Loss) attributable to: | ||||||
| a) Owners of Lumax Auto Technologies Limited- Other comprehensive income/(loss) for the Period from Continuing operations | 214.59 | (163.40) | (1, 241.77) | (2,742.28) | (2,304.26) | (1,734.82) | |
| - Other comprehensive income/(loss) for the Period from Discontinued operations | |||||||
| 214.59 | (163.40) | (1, 241.77) | (2,742.28) | (2, 304.26) | (1,734.82) | ||
| b) Non- controlling interests | |||||||
| - Other comprehensive income/(loss) for the Period from Continuing operations | 1,36 | 2.44 | 0.84 | 4.21 | 2.54 | 4.93 | |
| - Other comprehensive income/(loss) for the Period from Discontinued operations | |||||||
| c) Total Other comprehensive income (a+b) | 1.36 | 2.44 | 0.84 | 4,21 | 2.54 | 4,93 | |
| - Other comprehensive income/(loss) for the Period from Continuing operations | 215.95 | (160.96) | (1, 240.93) | (2,738.07) | (2, 301.72) | (1,729.89) | |
| - Other comprehensive income/(loss) for the Period from Discontinued operations | 215.95 | (160.96) | (1, 240.93) | (2,738.07) | (2,301.72) | (1,729.89 | |
| 15 | Total comprehensive income attributable to: (13+14) | ||||||
| a) Owners of Lumax Auto Technologies Limited | 1,375.81 | 2,128.44 | 495.07 | 2,454.28 | 3,062.25 | 4,853.96 | |
| b) Non-controlling interests | 171.15 | (92.37) | 100.40 | 109.79 | 196.22 | 305.20 | |
| 16 | Earnings per share (Rs. per share of face value of Rs. 2 each) | ||||||
| Earnings per share for continuing operation: (In Rs.):Basic & Diluted ( in Rs.) | 1.70 | 3.06 | 2.23 | 6.41 | 6.41 | 7.81 | |
| Eamings per share for Discontinued operation: (In Rs.): | |||||||
| Basic & Diluted (in Rs.) | 0.30 | 0.32 | 1.21 | 1.46 | 1.86 | ||
| Earnings per share for Continuing and Discontinued operation: (In Rs.): | |||||||
| Basic & Diluted ( in Rs.) | 1.70 | 3.36 | 2.55 | 7.62 | 7.87 | 9.67 | |
| AUTOWALLAND | |||||||
| 1 | Key Standalone Financial InformationRevenue from Operations | 24,263.35 | 24,716.95 | 24,593.66 | 72,556.20 | 72,170.32 | 95,764.60 |
| $\mathbf{2}$ | Profit Before Tax from Continuing operations | 1,591.05 | 2,058.51 | 1,968.47 | 5,278.93 | 5,865.73 | 7,192.44 |
| 34 | Profit Before Tax from Discontinued operationsTotal Comprehensive Income / (Loss) for the period | 1,440.85 | 2,237.09 | 327.23271.96 | 948.582,576.46 | 1,510.862,675.87 | 1,758.424,213.59 |
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Notes:
1. 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 Standards), Rules 2015 and / or any Statutory Modifications and / or Re-enactment thereof,
2 . The above financial results have been duly reviewed by the Audit Committee and approved by the Board of Directors in the meeting held on February 11, 2020.
3, The company has received order from the Hon'ble National Company Law Tribunal and filed the same with the Registrar of Companies As a result, Lumax DK Auto Industries Limited got merged with the company with effect from 1st April, 2018. The impact of the merger has been considered in the standalone financial results of the Company for the year ending March 31, 2019, nine months ended December 31, 2019 & December 31, 2018 and quarter ended December 31, 2018.
4. The details of disconUnued o ration which was carried In the re•ious ear are as below.
| Quarter ended | Nine Months endod | Year ended | ||||
|---|---|---|---|---|---|---|
| 31.12.2019(Unaudited) | 30.09.2019(Unaudited) | 31.12.2018(Unaudited) | 31.12.2019(Unaudited) | 31.12.2018(Unaudited) | 31.03.2019(Audited) | |
| A. Total Income | 2,992,00 | 13,900,98 | 17,160 97 | |||
| B Total Expenses | 2,664.77 | 12,390 12 | 15,402 55 | |||
| C Profit Before Tax (A-B) | 327,23 | 948 58 | 1,510,86 | 1,758.42 |
5. The board has approved to serve termination notice to one of its JV partner, Gill Austem LLC, due to non performance of obligation by the partner even after the expiry of cure period in terms of JV agreemenl The company does not foresee any material impairment in this regard due to going concern of the JV Company i e Lumax Gill-Auslam Auto Technologies Private Limited
6, 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 applicable
7 The above financial results are available on the Company's website www llrmaxworld.innumax11utotech and also on the webs�es of NSE (www nseindi�.com) and BSE (
Place : Gurugram ---DK Jain Date : February 11, 2020 Chalnnan
S.R. BATLIBOL & CO. LLP
Chartered Accountants
4th Floor, Office 405 World Mark - 2, Asset No. 8 IGI Airport Hospitality District, Aerocity New Delhi - 110 037. India Tel: +91 11 4681 9500
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) Requlations, 2015, as amended
Review Report to The Board of Directors Lumax Auto Technologies Limited
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- 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 December 31, 2019 and year to date from April 1, 2019 to December 31, 2019 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Requlation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Requiations, 2015, as amended (the "Listing Regulations").
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- 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.
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- 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 inguiries, 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.
| S.No. | Name of the Entity | Nature |
|---|---|---|
| 1. | Lumax Auto Technologies Limited | Holding Company |
| 2 | Lumax Mannoh Allied Technologies Limited | Subsidiary Company |
| 3 | Lumax Integrated Ventures Private Limited | Subsidiary Company |
| $\overline{4}$ | Lumax Cornaglia Auto Technologies PrivateLimited | Subsidiary Company |
| 5 | Lumax Management Services Private Limited | Subsidiary Company |
| 6 | Lumax Gill-Austem Auto Technologies PrivateLimited | Subsidiary Company |
| ⇁ | Lumax FAE Technologies Private Limited | Subsidiary Company |
| 8 | Lumax Ituran Telematics Private Limited | Joint venture entity |
4. The Statement includes the results of the following entities:
S.R. BATLIBOL& CO. LLP
Chartered Accountants
| Sipal Engineering Private Limited | $^\mathrm{+}$ Joint venture entity of LumaxIntegrated Ventures PrivateLimited | |
|---|---|---|
| 10 | Lumax JOPP Allied Technologies | Subsidiary Company |
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- Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 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 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.
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- The accompanying Statement includes unaudited interim financial results and other unaudited financial information of six subsidiaries whose interim financial results reflect Group's share of total revenues of Rs. 3,983.49 Lakhs and Rs. 13,281.85 Lakhs, Group's share of total net profit after tax of Rs. 48.51 Lakhs and Rs. 133.61 Lakhs, Group's share of total comprehensive Income of Rs. 51.51 Lakhs and Rs. 140.92 Lakhs for the quarter ended December 31, 2019 and for the period from April 1, 2019 to December 31, 2019, respectively as considered in the Statement, which have been reviewed by their respective independent auditors.
The Statement also includes the Group's share of net loss after tax of Rs. 8.12 lakhs and Rs 13.90 lakhs and total comprehensive loss of Rs. 8.12 lakhs and Rs. 13.90 lakhs, for the quarter ended December 31, 2019and for the period from April 1,2019 to December 31,2019, respectively, as considered in the Statement, in respect of one joint venture and one joint venture of one of the subsidiary Company, whose interim financial results have been reviewed by their respective independent auditors.
The independent auditor's reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries and joint ventures is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.
Our conclusion on the Statement in respect of matters stated in para 6 above is not modified 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 Firm registration number: 301003E/E300005
Journall
per Vikas Mehra Partner Membership No.: 094421
UDIN: 20094421AAAAAMS246
Place New Delhi Date February 11, 2020
