Lumax Auto Technologies Ltd. — Interim / Quarterly Report 2022

Aug 11, 2021

LATL:CS:Q1 :BM:2021-22 Date : 11.08.2021

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

Subject: 1) Outcome of the Board Meeting held on Wednesday, August 11, 2021 2) Submission of Financial Results for quarter ended on June 30, 2021

Dear Sir/ Ma'am,

In furtherance to our intimation dated August 02, 2021 and pursuant to the provisions of Regulation 30 & other applicable Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (hereinafter referred to as "the Listing Regulations"), we wish to inform you that the Board of Directors, at their Meeting held today i.e. Wednesday, the August 11, 2021, through video conferencing, has inter-alia, considered and approved the the following matters:

1. The Standalone & Consolidated Un-audited Financial Results for the 1st Quarter ended 30th June 2021, as recommended by the Audit Committee. A copy of the Standalone & Consolidated Un-Audited Financial Results and the Limited Review Reports of Statutory Auditors i.e. M/s S.R. Batliboi & Co. LLP, are enclosed herewith as per Regulation 33 of the Listing Regulations.

The Extracts of Consolidated results would be published in the Newspapers in terms of Regulation 47(1) of Listing Regulations, as amended from time to time.

• 1. Constitution of Risk Management Committee as per regulation 21 of the Listing Regulations.
• 1. Formulation and adoption of Risk Management Policy as per regulation 21 of the Listing Regulations.
• 1. Formulation and adoption of Dividend Distribution Policy as per regulation 43A of the Listing Regulations.

The Meeting of the Board of Directors commenced at 12.15 P.M. and concluded at 2.20 P.M.

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

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

Thanking you,

Yours faithfully, For LU MAX AUTO TECHNOLOGIES LIMITED

~-

ANIL TYAGI C: COMPANY SECRETARY ,s:t:: M.NO. A-16825 * o~V-

Encl: as above Lumax Auto Technologies Limited

Plot No. -878, Udyog Vihar Phase-V, Gurugram -122016

Haryana, lndla

T +91124 4760000 E shares@lumaxmail.com

Lumax Au_to Technologies Limited - REGO. OFACE: 2''" Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi - 110046, T -•91114985 7832, E • cao@lumaxmail.com

Lumax Auto Technologies Limited

Regd. Office : 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi- 110046

Website:www.lumaxworld.in/lumaxautotech Tel: +91 11 49857832

Email: shares@lumaxmail.com, CIN: L31909DL 1981 PLC349793

(Rs. in Lakhs unless otherwise stated) Statement of Standalone un-audited financial results for the quarter ended June 30, 2021 Sr. Nn. 2 3 4 5 6 7 8 9 10 Particulars Income from operation& Revenue from contracts with customers Other income Total Income Expenses a) Cost of raw materials, components and moulds consumed b) Purchases of traded goods c) Changes in inventories of finished goods, work-in-progress and traded goods d) Employee benefits expense e) Finance Costs f) Depreciation and amortisation expense g) Other expenses Total expenses Profit/(Loss) before tax (1-2) Tax Expenses Current tax Adjustment of tax relating to earlier years Deferred tax charge/( credit) Total Tax Expenses Net Profit/(Loss) for the period/year (3-4) Other Comprehensive lncome/(Loss) (net of taxes) Other Comprehensive lncome/(Loss) not to be reclassified to statement of profit and loss in subsequent period - Re-measurement loss on defined benefits plans Income tax effect Gain/(Loss) on FVTOCI equity securities Income tax effect Total Other Comprehensive lncome/{Loss) (net of taxes) Total comprehensive income/(loss) for the period/ year (net of tax) (5+6) Paid-up equity share capital (face value of Rs 2 per share) Other equity Earnings per share (face value of Rs. 2 each) (not annualised) Basic & Diluted (in Rs.) 30.06.2021 IUnauditedl 20,003.62 419.50 20,423.12 11,756.55 2,125,18 165,99 2,520.71 146,10 587 12 2,647.25 19,948.90 474.22 201 .19 - (73 35) 127.84 346.38 (18,15) 4,57 (448.35) - (461.93) {115.55) 1,363.15 0.51 Quarter ended Year ended 31.03.2021 30.06.2020 31.03.2021 tAuditedl tUnauditedl IAuditedl 31,061 .80 6,078.59 90,294 89 470.18 512.77 2,206.43 31,531.98 6,591.36 92,501.32 16,181 36 3,401 .27 47,682.05 6,187 33 544.09 15,861 99 (322 43) 266.99 (292 75) 2,971 .67 1,562.04 9,591 07 142 42 259.22 715.03 651 .27 588.43 2,509 14 3,633.74 996.75 10,867.97 29,445.36 7,618.79 86,934.50 2,086.62 (1,027.43) 5,566.82 586.03 11 .65 1,491 .53 - - (39 93) (49.25) (270.22) (93.51) 536.78 (258.57) 1,358.09 1,549.84 (768.86) 4,208.73 (31 ,87) (13.58) (72,60) 3.64 1.65 8,60 1,299.93 1,139.25 3,925.98 (7.66) - (7.66) 1,264.04 1,127.32 3,854.32 2,813.88 358.46 8,063.05 1,363.15 1,363.15 1,363.15 47,448.05 2.27 (1 .13) 6.17

Not11~:

1. The above standalone financial results of Lumax Auto Technologies Limited ('the Company') have been reviewed by the Audit Committee and approved by the Board of Directorc ::it itc meeting held on /\uguct 11, 2021 , The ct::itutory ::iuditorn h::ive c::irried out Limited Review of above financial recultc of the Comp.my

2. These standalone financial results have been prepared in accordance with the recognition and measurement principles of Indian Accounting Standards (Ind AS) as notified under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 as amended.

3 The Company's business activity falls within a single business segment i.e. manufacturing and trading of Automotive Components, accordingly there are no additional disclosures to be furnished in accordance with the requirement of Ind AS 108 - Operating Segments with respect to single reportable segment. Further, the operations of the Company is domiciled in India and therefore there are no reportable geographical segment.

4 The outbreak of Coronavirus (COVID -19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. Consequent to these uncertainties/ disruptions caused due to continuation of pandemic, the Company has made assessment of impact of this pandemic on its business operations and has made assessment of its liquidity position for the next one year. The Company has assessed the recoverability and carrying value of its assets comprising property, plant and equipment, investment properties, intangible assets, right-to-use assets, investments, inventory, advances, trade receivables, other financial and non-financial assets etc as at period end using various internal and external information up to the date of approval of these standalone financial results. Based on current indicators of future economic conditions, the Company expects to recover the carrying amount of these assets. Changing situation of pandemic is giving rise to inherent uncertainty around the extent and timing of the potential future impact of the COVID-19 pandemic which may be different from that estimated as at the date of approval of these standalone financial results and the Company will continue to closely observe the evolving scenario and take into account any future developments arising out of the same,

1. The Company on July 02, 2021 has signed a Joint Venture Agreement with Alps Alpine Co. Limited, Japan to establish a Joint Venture company for the manufacturing and sale of electric devices and components including software related to automotive industry.

2. The figures for the quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 and the unaudited year to date figures upto the third quarter of the financial year which was subject to review by the statutory auditors.

3. The above financial results are available on the Company's website www.lumaxworld.in/lumaxautotech and also on the websites of NSE (www.nse1ndia.com) and BSE (www.bseindia.com).

For and on behalf of the Board of Directors of Lumax Auto Technologies Limited

D. K. Jain Chairman DIN: 00085848

Place : New Delhi Date : August 11, 2021 S.R. BATLIBOI & Co. LLP

Chartered Accountants

2nd & 3rd Floor Golf View Corporate Tower - B Sector - 42, Sector Road Gurugram - 122 002, Haryana, India Tel : +91 124 681 6000

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

Review Report to The Board of Directors Luma x Auto Technologies Limited

• 1. We have reviewed the accompanying statement of un audited standalone fin ancial results of Lumax Auto Technologies Limited (the "Company") fo r the quarter ended June 30, 202 1 (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, 201 5, as amended (the "Listing Regul ations").
• 1. This Statement, whi ch 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, 201 3 as amended, read with relevant rul es 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 rev iew of the Statement in accordance with the Standard on Review Engagements (SRE) 24 10, ''Review of Interim Financial Information Performed by th e 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 materi al misstatement. A revi ew of interim fin ancial information consists of making inquiries, primarily of persons responsible fo r fin ancial and accounting matters, and applying analytical and other rev iew procedures. A rev iew is substanti ally 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 revi ew 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, 20 I 3 as amended, read with relevant rul es issued thereunder and other accounting principles generally accepted in India, has not disclosed the in fo rmation required to be disclosed in terms of the Listing Regulations, including the manner in whi ch it is to be disc losed, or that it contains any materi al misstatement.

For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm registration number: 301003E/E3 00005

per Amit Yadav Partner Membership No.: 501 753 UDIN: 2 150 I 753AAAAEB 1880

Place: Gurugram Date: 11 August 202 1

Lumax Auto Technologies Limited

LUMnx Regd. Office: 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Dclhi-110046 DK JAIN Website:www.lumaxworld.in/lumaxautotech Tel: +9111 49857832 (ilH)l P Email: shares@lumaxmail.com, CIN: L31909DL 1981PLC349793

	(Rs. in Lakhs unless otherwise stated)Statement of Consolidated un-audited financial results for the quarter ended June 30, 2021
		Quarter ended			Year ended
Sr. No.	Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
		(Unaudited)	(Audited)	(Unaudited)	(Audited\
	Income from operations
	Revenue from contracts with customers	26,048 11	38,798 18	7,098 35	1,10,792 85
	Other income	280 07	401 58	397.33	1,818 47
1	Total Income	26,328.18	39,199.76	7,495.68	1,12,611.32
	Expenses
	a) Cost of raw materials, components and moulds consumed	15,550,27	20,565 79	4,003 95	59,673 43
	b) Purchases of traded goods	2,125.18	6,187.33	544.09	15,861.99
	c) Changes in inventories of finished goods, work-in-progress and traded goodsd) Employee benefits expense	(76.92)3,689.38	(338 65)4,027 62	251 632,248.88	(461 17)
	e) Finance costs	226 54	198.32	318 09	13,240.56982.17
	f) Depreciation and amortisation expense	854 95	917.21	783.14	3,415.14
	g) Other expenses	3,144 16	4,082.75	1,295 68	12,676.66
2	Total expenses	25,513.56	35,640.37	9,445.46	1,05,388.78
3	Profit/(Loss) before share of joint ventures, exceptional items and tax (1-2)	814.62	3,559.39	(1,949.78)	7,222.54
4	Share of (loss)/profit of joint ventures	(33 25)	(13.93)	3.91	(9.33)
5	Profit/(Loss) before exceptional items and tax (3+4)	781.37	3,545.46	(1,945.87)	7,213.21
6	Exceptional Items	-	(63_00)	-	(63 00)
7	Profit/(Loss) before tax (5+6)	781.37	3,482.46	(1,945.87)	7,150.21
	Tax Expenses
	Current TaxAdjustment of tax relating to earlier years	386.62-	811.520_52	11 65	1,958.93
	Deferred Tax charge/( credit)	(95.38)_	181 .48	-(47412)	(49.23)125 10
8	Total Tax Expenses	291.24	993.52	(462.47)	2,034.80
9	Net Profit/(Loss) for the period / year (7-8)	490.13	2,488.94	(1,483.40)	5,115.41
	Other Comprehensive Income/ (Loss) (net of taxes)Other Comprehensive lncome/(Loss) not to be reclassified to the statement of profitand loss in subsequent years
	Re-measurement loss on defined benefits plans	(17.49)	(55 89)	(8.97)	(73.03)
	Income tax effect	4 40	7,22	0 51	7.82
	Gain/(Loss) on FVTOCI equity securities	(448,35)	1,299,93	1,139 25	3,925.98
	Income tax effect	-	(7,66)	-	(7.66)
10	Total Other Comprehensive Income/ (Loss) (net of taxes)	(461.44)	1,243.60	1,130.79	3,853.11
11	Total comprehensive income/ (loss) for the period/ year (net of tax) (9+10)	28.69	3,732.54	(352.61)	8,968.52
12	Profit/(Loss) attributable to:
	a) Owners of Lumax Auto Technologies Limitedb) Non- controlling interests	340 57149,56	2,102 32386 62	(1,230 98)(252.42)	4,712.96
					402.45
	Total (a+b)	490.13	2,488.94	(1,483.40)	5,115.41
13	Other Comprehensive Income/ (Loss) attributable to:
	a) Owners of Lumax Auto Technologies Limited	(460.11)	1,256.13	1,129.69	3,858.23
	b) Non- controlling interests	(1 .33)	(12.53)	1.10	(5.12)
	Total (a+b)	(461.44)	1,243.60	1,130.79	3,853.11
14	Total comprehensive income/(loss) attributable to: (12+13)
	a) Owners of Lumax Auto Technologies Limited	(119 54)	3,358.45	(101 ,29)	8,571 .19
	b) Non- controlling interests	148 23	374,09	(251 32)	397.33
	Total (a+b)	28.69	3 73254	(35.2611	8.968.52
15	Paid-up equity share capital (face value of Rs 2 per share)	1,363.15	1,363.15	1,363.15	1,363.15
16	Other equity				51,708.74
17	Earnings per share (face value of Rs. 2 each) (not annualised)
	Basic & Diluted (in Rs.)	0.50	3,08	11 81)	6 91
	Key 'Standalone Financial Information
1	Revenue from contracts with customers	20,003,62	31,061 .80	6,078.59	90,294.89
2	Profitl(Loss) before tax for the period/year	474.22	2,086,62	(1,027.43)	5,566.82
3	Total Comprehensive lncome/(Loss) for the period/year	(115.55)	2,813.88	358.46	8,063.05

Notes:

1. The above consolidated financial results of Lumax Auto Technologies Limited ("the Company"), its subsidiaries (together referred as "the Group") and its joint ventures have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August 11, 2021 The statutory auditors have carried out Limited Review of above financial results of the Group

2 These consolidated financial results have been prepared in accordance with the recognition and measurement principles of Indian Accounting Standards (Ind AS) as notified under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended. The said financial results represents the results of the Group and its share in results of joint ventures which have been prepared in accordance with Ind AS-110- "Consolidated Financial Statements" and Ind AS-28 "Investment in Associates and Joint Ventures".

1. The Group business activity falls within a single business segment i e. manufacturing and trading of Automotive Components, accordingly there are no additional disclosures to be furnished in accordance with the requirement of Ind AS 108 - Operating Segments with respect to single reportable segment. Further, the operations of the Group is domiciled in India and therefore there are no reportable geographical segment.

4. The outbreak of Coronavirus (COVID -19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. Consequent to these uncertainties/ disruptions caused due to continuation of pandemic, the Group has made assessment of impact of this pandemic on its business operations and has made assessment of its liquidity position for the next one year. The Group has assessed the recoverability and carrying value of its assets comprising property, plant and equipment, investment properties, intangible assets, right-to-use assets, investments, inventory, advances, trade receivables, other financial and non-financial assets etc. as at period end using various internal and external information up to the date of approval of these consolidated financial results. Based on current indicators of future economic conditions, the Group expects to recover the carrying amount of these assets Changing situation of pandemic is giving rise to inherent uncertainty around the extent and timing of the potential future impact of the COVID-19 pandemic which may be different from that estimated as at the date of approval of these consolidated financial results and the Group will continue to closely observe the evolving scenario and take into account any future developments arising out of the same.

1. The Company on July 02, 2021 has signed a Joint Venture Agreement with Alps Alpine Co. Limited, Japan to establish a Joint Venture company for the manufacturing and sale of electric devices and components including software related to automotive industry.

6 The figures for the quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 and the unaudited year to date figures upto the third quarter of the financial year which was subject to review by the statutory auditors.

7, The above financial results are available on the Company's website www.lumaxworld.in/lumaxautotech and also on the websites of NSE (www.nsefndia . com) and BSE (www bselndia.com).

Place : New Delhi Date: August 11, 2021

For and on behalf of the Board of Directors of Lumax Auto Technologies Limited

D. K. Jain Chairman DIN: 00085848 S.R. BATLIBOI & Co. LLP

Chartered Accountants

2nd & 3rd Floor Golf View Corporate Tower - B Sector - 42, Sector Road Gurugram - 122 002, Haryana, India Tel : +91 124 681 6000

Independent Auditor's Review Report on the Quarterly 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

• I. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Lumax Auto Technologies Limited (the "Holding Company" or the "Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), its joint ventures for the quarter ended June 30, 202 1 (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 Reportin g" 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 conclu sion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Rev iew Engagements (SRE) 24 1 0, ·'Review of Interim Financial In fo rmation Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard req uires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of materi al misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsibl e 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/CMD 1/44/20 19 dated March 29, 201 9 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

1. The Statement includes the results of the fo llowin° F, entities·

I.	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 Mettalics Private Limited (formerly known as "LumaxGill-Austem Auto
	Technologies Private Limited")
7,	Lumax FAE Technologies Private Limited
8.	~~Lumax JOPP Allied Technologies Private Limited
9.	-r'o <~ 6"ff,:,'§-'Lumax Yokowo Technologies Pri vate Limited<qc'< td=""></qc'<>
	oJr., l :.,j cf{o:',lll-

S.R. BATLIBOI & Co. LLP

Chart ered Accountants

Joint Venture entity
10 I Lumax lturan Telematics Private Limited
Joint Venture entity of Lumax Integrated Ventures Private limited
I I. I Sipal Engineering Private Limited

• 1. 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 below, nothing has come to our attention that causes us to believe that the accompanyin g Statement, prepared in accordance with recognition and measurement principl es laid down in the aforesaid Indi an Accounting Standards (' Ind AS') spec ified under Section 13 3 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 disc losed, or that it contains any material misstatement.
• 1. The accompanying Statement includes the unaudited interim financial results and other financial info rmation, in respect of:
  • Six subsidiaries, whose unaudited interim financial results include total revenues of Rs. 4,819.82 lakhs, total net loss after tax of Rs 60.92 lakhs, total comprehensive loss of Rs. 60.43 lakhs, for the quarter ended June 30, 202 1, 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 compan ies, whose unaudited interim financ ial results include Group's share of net loss of Rs. 33 .25 lakhs and Group's share of tota l comprehensive loss of Rs. 33 .25 lakhs for the quarter ended June 30, 202 1, as considered in the Statement whose interim financial results, other financial information have been rev iewed by their respective independent auditors.

The independent auditor's report on interim financial information/ 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 disc losures in respect of these subsidiaries and joint ventures is based solely on the repo,t of such auditors and procedures performed by us as stated in paragraph 3 above.

Our conclusion on the statement in respect of matters stated above is not modified with respect to our reliance on the work done and the reports of the other auditors.

For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm registration number: 30 I 003E/E3 00005

per Amit Yadav Partner Membership No.: 50 1753

UDIN: 2150 I 753AAAAEC6 l 30

Place: Gurugram Date: August I I, 202 1