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Lumax Auto Technologies Ltd. Investor Presentation 2020
62451_rns_2020-08-16_c6526531-37f8-4399-bdc9-c0494a6994ee.pdf
Investor Presentation
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LATL:CS:IP:2020-21 Date : 16.08.2020
BSE Limited Listing Compliance Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
National Stock Exchange of India Limited Listing Compliance Department Exchange Plaza, C-1 Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400051
Company Code : 532796
Company Code : LUMAXTECH
Subject: Investor Presentation for the 1st Quarter ended on 30th June, 2020
Dear Sir/Ma'am,
Please find enclosed herewith the Investor Presentation of the Company for the 1st Quarter ended on 30th June, 2020.
The same shall also be made available on the website of the Company at www.lumaxworld.in/lumaxautotech.
This is for your information and records.
Thanking you,
Yours faithfully, For LUMAX AUTO TECHNOLOGIES LIMITED
ANIL TYAGI COMPANY SECRETARY M.NO. A-16825
Encl.: as above
Lumax Auto Technologies Limited
Investor Presentation – August 2020
Safe Harbor
This presentation and the accompanying slides (the "Presentation"), which have been prepared by Lumax Auto Technologies Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
Seven Decade Strong Leader in Automotive Lighting & Gear Shifters
15 Entities in 8 States 31 Manufacturing Facilities
4 R&D Centres (India)
& 1 Design Centre (Taiwan)
Over 9,000 Employees
Two Listed Entities
55%
Lumax Auto Technologies Limited Products & Services Intake Systems, Integrated Plastic modules, 2-wheeler Chassis & Lighting, Gear Shifters, Transmission Products, Seat Structures, Aftermarket, Telematics Products and Services, Oxygen Sensors, On-board Antennas • Cornaglia SPA - Italy • Mannoh Industrial Co. Limited – Japan • Alpine – Japan • Ituran – Israel • FAE – Spain • JOPP – Germany • YOKOWO – Japan Partnerships Group Revenue Break Up (%) FY20 Revenue of Rs. 2,900 Cr 40% 5% Lumax Industries Limited Lumax Auto Technologies Limited Other Entities Lumax Industries Limited Products & Services End-to-end Automotive Lighting Solutions HVAC Panels and other electronic components Partnerships • Stanley – Japan
• SL Corporation - Korea
Diversified Product Range – 4-wheelers & CV
▪ Destination Boards & Urea Tanks for Commercial Vehicle Aftermarket products
Diversified Product Range – 2-wheelers
Fostering Partnerships to Deliver Excellence
Relationship Since 2008 45% in Lumax Mannoh Allied Technologies Limited
31 Locations close to Customers
31 Plants in 8 States
Lumax Industries Limited & Lumax Auto Technologies Limited, along with its subsidiaries, JVs & Associates
Map not to scale. All data, information and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
Total 31
Enhanced 360°Customer View
Understand the Customer
▪ A real understanding of varying customer needs & the capability to deliver outstanding results
Environmental Conscious
▪ Environment-conscious work practices
Research & Development
Centre in Taiwan
▪ Government approved 3 R&D
facilities & 1 Overseas Design
Experienced Team
▪ Highly Qualified & Experienced workforce of dedicated professionals
Technology Leadership
- Partnerships with global players provides competitive edge
- Avant-grade technology at par with the best players worldwide
Global Footprints
▪ Global footprint through exports
Faster Turnaround
▪ Lightning-fast turnaround time & impressive speed to market
12
The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only
… Strong After Market Exports Presence
Lumax Auto Technologies Limited
Driving Growth through Diversified Products
Manufacturing Plants with Quality Certifications across India
7 Successful Partnerships with Global Players
1997: A Unit was setup in Waluj, Maharashtra to manufacture Chassis
1981: Lumax Auto Electricals was established to manufacture 2-wheeler Lighting at Bhosari, Maharashtra
1988: Name of the company was changed to Dhanesh Auto Electricals Pvt Limited 2002: Setup the Plant at
2000: The company was selected as cluster member for TPM activities by Bajaj Auto
1991-2000
1981-90
2001-2006
Chakan, Maharashtra to manufacture 2-wheeler Lighting
2006: Lumax DK Auto Industries Limited became a 100% subsidiary. Name of the company was changed to Lumax Auto Technologies Limited
2007-10
2007: Setup Seat frame manufacturing plant in PCNTDA, Bhosari, Maharashtra.
JV company with Cornaglia, Italy started as Lumax Cornaglia Auto Technologies Pvt Limited.
Lumax Auto Technologies Limited listed on Stock exchange
2009: Entered a TA with Mannoh Industrial Company, Japan for manufacturing of Gear Shift Lever
2010: Setup a unit at Kala- Amb, HP to manufacture diversified auto components for After Market
Milestones
2013: Setup a plant at Narsapur, Karnataka to manufacture Moulded parts
Formed JV with Gill Austem LLC, USA to manufacture Seat frames & Mechanism
2011: Setup state-of-the art Surface Mounted Technology unit in Manesar, Haryana 2014: JV company with Mannoh Industrial Company, Japan started as Lumax Mannoh Allied Technologies Limited 2015-16
2012: Setup the first Robotic Motorcycle Chassis plant in Waluj, Maharashtra. Pantnagar plant received TPM excellence award from JIPM
2011-12
2013-14
2015: Setup another Robotic Motorcycle Chassis plant in Waluj, Maharashtra
Formed JV with Sipal, Italy for Aerospace & Defence Engineering services
2016: Pantnagar plant received TPM consistency award from JIPM
Milestones
Formed a JV with Ituran Location and Control Limited, Israel to provide Telematics Products and Services
Formed a JV with FAE, Spain to manufacture Oxygen Sensors
Set up Assembly facility in Mehsana, Gujarat under LMAT
JV with JOPP, Germany to manufacture and supply transmission products to the Indian automotive industry
Subsidiary entity Lumax DK Auto Industries Limited merged with the Standalone entity
Bengaluru plant received TPM consistency award from JIPM
2020
2020: Bengaluru plant received JIPM-TPM Excellence award
JV with Yokowo, Japan to manufacture and supply Antennas and other vehicle communication products
Fostering Partnerships to Deliver Excellence
Cater to Diversified Segments
- ✓ Lighting Module(incl. HT/TL/Indicators & Others)
- ✓ Chassis for 2-wheelers
- ✓ Fabricated parts for 3 wheelers
- ✓ Integrated Plastic Modules
- ✓ Oxygen Sensors
- ✓ Telematics Products and Services
- ✓ Gear Shift Lever
- ✓ Gear Shift Tower
- ✓ Intake Systems
- ✓ Seat Structures
- ✓ Integrated Plastic Modules
- ✓ Telematics Products and Services
- Put Text Here Your Text Here ✓ Integrated Plastic Modules
- ✓ Gear Shift Lever
- ✓ Seat Structures
- ✓ Telematics Products and Services
- ✓ Urea Tank
After Market Presence in all Segments
The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only
Strategic Locations Close to Customers
15 Plants in 5 States
Shareholding breakup
Experienced Promoters
Mr. Dhanesh Kumar Jain Chairman
- He is 76 years of age & holds a MBA degree from Delhi university & has successfully completed President Management Program from Harvard Business School
- Over 50 years of experience in the automotive industry in management, operations & administrative roles
- He has held various industry positions
- Past president of ACMA, president suppliers association – Toyota Kirloskar Motors, Chairman of Trade Fairs Committee ACMA, Co-chairman of Regional Committee on Membership of Northern Region CII, Past Chairman of CSR sub-committee of the Northern Region of CII
Mr. Anmol Jain Managing Director
- He is 41 years of age & holds Bachelors in Business Administration in Finance & Supply Chain Management (Double major) from Michigan State University, U.S.A.
- He worked as a Management Trainee with GHSP, U.S.A. & subsequently, joined Lumax Group, in 2000 & has over 20 years of experience
- He has held various positions in Industry associations like He was the National Coordinator of ACMA- YBLF from 2014-16. He was also the Chairman CII Haryana State Council in 2012-13
- He is currently the President of Honda Cars India Supplier's Club & MC member of Bajaj Auto Vendor Association
Mr. Deepak Jain Director
- He is 45 years of age & is a Business Graduate from Illinois Institute of Technology, USA with specialization in Operations Management & International Business
- He has undergone extensive training at Stanley Co. Limited, U.S.A. & Stanley Electric Co. Limited, Japan. He has over 21 years experience
- He was chairman of ACMA's HR/IR & Skill Development Committee, past chairman of Sustainable Technology Development Committee of ACMA, past National Coordinator of Young Business Leader Forum of ACMA and past president of Supplier's club, Honda Cars India Limited
- He is member of Young President's organization and Entrepreneurs organization. He also holds the position of President of ACMA & Vice President of Toyota Kirloskar Supplier's Association
Supported by Strong Independent Directors
Mr. Roop Salotra
- He is 69 years of age & is a Mechanical Engineer, followed by various Management Development programs
- He retired from SRF Group, after spending 24 years, as CEO & President, is now an advisor to the Managing Director of SRF Limited. He has been actively involved in CII – Climate Change & Environment councils. He is former Chairman of Indian Chemical Council-Northern Region
Mr. Milap Jain
- He is 68 years of age & holds B.A. (Pol.Sc. Hons.) from Revenshaw College, Cuttack
- He is a retired Indian Revenue Service Officer with 38 years of service. He retired as Chief Commissioner of Delhi, Income Tax Department, Govt. of India. Currently he is a Director of Mahavir International, a NGO
Ms. Diviya Chanana
- She is 46 years of age and she is a Graduate & holds Diploma in Travel and Tourism. She has over 15 years of rich experience in the said field
- She is Executive Director of Damus Travels Private Limited. The Company is engaged in supporting and auxiliary transport activities; activities of travel agencies
- He is 61 years of age & holds B.E Mechanical & MBA from IIM, Kolkata
- He is an Indian automotive sector veteran, his last assignment was as the Managing Director of Nissan India and thereafter as Senior Corporate Advisor at Nissan India
- He has over 30 years of experience with organization like Escorts, Bajaj Auto Ltd, and Maruti Suzuki India Ltd
Mr. Arun Malhotra Mr. K K Gandhi
- He is 74 years of age & holds B.E Mechanical from BITs
- He is associated with SIAM for the last 18 years and is currently Principal Advisor
- He is a Member of various Government Policy Committees including Expert Committee on Auto Fuel Vision and Policy 2025, Air Quality Monitoring, Emission inventory and preparing policy documents for issues confronting the Indian Automobile Industry
Mr. A P Gandhi
- •He is 81 years old & is a mechanical engineer
- •He has held top leadership positions in prestigious organisations having over 40 years of experience
- •His last assignment was as President at Hyundai Motors India Limited. Prior to that he was Chief Executive –R&D at Escorts Limited & at Telco before that, holding various senior positions in the area of manufacturing operations
Professional & Experienced Team
Mr. Sanjay Mehta Director & Group CFO Age: 53 years Experience: 29 Years
Mr. Vikas Marwah Chief Executive Officer Age: 52 years Experience: 29 Years
Mr. Naval Khanna Corporate Head – Taxation Age: 63 years Experience: 43 years
Mr. Atul Jain Corporate Head - Materials Age: 50 years Experience: 27 Years
Mr. Lalitendu Samanta Corporate Head – HR, IR & CSR Age: 54 Years Experience: 30+ Years
Ms. Priyanka Sharma Corporate Communication Age: 51 years Experience: 25 Years
Professional & Experienced Team
Mr. Rajesh Dubbewar Head Metallic Age: 53 years Experience: 30+ years
Mr. Vivek Jakhmola Head Body & Trim and Emission Age: 45 years Experience: 23 years
Mr. Sanjay Bhagat Head After Market Age: 54 years Experience: 29 years
Mr. Ashish Dubey Chief Financial Officer Age: 53 years Experience: 29 Years
Mr Anil Tyagi Company Secretary Age: 49 years Experience: 22 years
Clear focus on Improving Performance
| 1 | Achieve Leadership in India & Set Sight on the Global Market |
|---|---|
| 2 | TheOnlyGearShifterManufacturerinIndiatohaveLocalisedR&DCapabilityandGearingtoAccesstheGlobalMarkets |
| 3 | AirIntakeSystems–IncreasePresenceinDomesticMarket&EnhanceCustomerOutreach |
| 4 | SeatFrames&2-WheelerChassis–IncreasePresenceinDomesticMarket&EnhanceCustomerOutreach |
| 5 | Diversification –All Diversifications Planned in Future to be under LATL |
| 6 | Ramping-up "After Market Business" to see Accelerated Growth |
| 7 | Benefits from BS VI |
Financial Performance
2/3 Wheeler Passenger Car After Market CV Others
Category Q1 FY20 (Rs. 288 Crores)
Category Q1 FY21 (Rs. 71 Crores)
Consolidated Results
Rs. Crores
* Financials as per IND AS
Capex Long Term Debt / Equity
Return Ratios
Dividend (% of Face Value) EPS^ (in Rs.)
Consolidated Results
^ EPS on FV of Rs. 2 per share
* Financials as per IND AS
TTM
ROCE = EBIT / Capital Employed
Capital Employed = Networth + Long Term Debt including Current Maturity
38 Networth = Shareholder's Equity – OCI Reserve
Consolidated P&L Statement
| Particulars (Rs. in Crores.) | Q1 FY21 | Q1 FY20 | FY20 |
|---|---|---|---|
| Revenue | 71.0 | 287.5 | 1140.9 |
| Raw Material Consumption | 48.0 | 193.5 | 772.4 |
| Employee Expenses | 22.5 | 34.1 | 134.8 |
| Other Expenses | 13.0 | 35.0 | 142.8 |
| Other Income | 4.0 | 3.7 | 18.1 |
| Profit of JV | 0.04 | 0.03 | -0.3 |
| EBITDA | -8.4 | 28.7 | 108.8 |
| EBITDA % | -11.9% | 10.0% | 9.5% |
| Depreciation | 7.8 | 8.6 | 34.5 |
| Finance Cost | 3.2 | 2.2 | 9.6 |
| Profit Before Tax | -19.5 | 18.0 | 64.7 |
| Tax | -4.6 | 6.4 | 13.7 |
| Profit After Tax (Before Minority Interest) | -14.8 | 11.6 | 51.0 |
| Minority Interest | -2.5 | 0.3 | 1.2 |
| Profit After Tax (After Minority Interest) | -12.3 | 11.3 | 49.8 |
| PAT Margin% | -17.3% | 3.9% | 4.4% |
| EPS | -1.81 | 1.65 | 7.30 |
| ASSETS (Rs. in Crores) | Mar-20 | Mar-19 | EQUITY & LIABILITIES (Rs. in Crores) | Mar-20 | Mar-19 |
|---|---|---|---|---|---|
| Non-current assets | Equity | ||||
| Property, plant and equipment | 307.42 | 287.20 | |||
| Capital work-in-progress | 20.74 | 22.25 | Equity Share capital | 13.63 | 13.63 |
| Investment Property | 18.16 | 18.73 | Non-Controlling Interest | 42.14 | 42.31 |
| Right-to-use asset | 27.34 | 0.00 | Other equity | 432.53 | 466.51 |
| Goodwill | 0.17 | 0.17 | |||
| Other Intangible assets | 1.95 | 1.36 | |||
| Investment in Jointly controlled Entities | 0.75 | 0.46 | Sub-total -Shareholders' funds | 488.30 | 522.46 |
| Financial assets | LIABILITIES | ||||
| Investments | 50.14 | 101.28 | Non-current liabilities | ||
| Loans | 5.81 | 4.87 | Financial liabilities | ||
| Others | 1.50 | 0.05 | Borrowings | 16.76 | 8.23 |
| Income Tax Assets | 3.22 | 2.74 | |||
| Other non-current assets | 16.60 | 11.20 | Provisions | 5.46 | 8.06 |
| Deferred Tax Assets (net) | 1.00 | 1.69 | Other Non-Current Liabilities | 21.35 | 0.00 |
| Assets held for Sale | 0.00 | 3.66 | Deferred tax liabilities (net) | 13.72 | 20.68 |
| Sub-total -Non-Current Assets | 454.80 | 455.66 | Sub-total -Non-current liabilities | 57.30 | 36.97 |
| Current assets | |||||
| Inventories | 64.43 | 59.51 | Current liabilities | ||
| Financial assets | Financial liabilities | ||||
| Loans | 0.81 | 0.95 | Borrowings | 71.52 | 58.20 |
| Investments | 11.31 | 18.51 | Trade payables | 157.39 | 238.93 |
| Trade receivables | 192.77 | 277.55 | |||
| Cash and cash equivalents | 36.96 | 26.01 | Other financial liabilities | 39.16 | 40.37 |
| Bank balances other than Cash | 66.66 | 30.48 | Provisions | 11.88 | 6.31 |
| Other Financial Assets | 1.95 | 1.25 | Other current liabilities | 35.74 | 26.87 |
| Other current assets | 27.94 | 20.41 | Current tax liabilities | 0.00 | 0.22 |
| Assets held for Sale | 3.66 | 39.99 | |||
| Sub-total -Current Assets | 406.49 | 474.66 | Sub-total -Current liabilities | 315.70 | 370.89 |
| TOTAL -ASSETS | 861.29 | 930.32 | TOTAL -EQUITY AND LIABILITIES | 861.29 | 930.32 |
40 #Performance highlights excludes Discontinued Operations of PCB business
Awards & Recognitions
Awards & Recognition
Lumax Auto Technologies Limited, Bengaluru won JIPM-TPM award for excellence in Category A for the year 2019
Awards & Recognition
Lumax Auto Technologies Limited, Pantnagar won the Silver Award in Excellence in HSE (Health, Safety and Environment) - Very Large Category at ACMA Technology Summit & Awards in November, 2019.
Lumax Gill-Austem Auto Technologies Pvt Ltd won the Gold Award in Excellence in HSE (Health, Safety & Environment) - Small Category at the ACMA Technology Summit & Awards in November, 2019.
Lumax Mannoh Allied Technologies Limited, Manesar won the Bronze Award in Excellence in HR at the ACMA Technology Summit & Awards in November, 2019.
Awards & Recognition
Lumax Mannoh Allied Technologies Limited, Manesar bagged Silver Award at ICQCC 2019 held at Tokyo, Japan in September, 2019. A total of 368 teams from 13 countries participated in the global Quality Control Circles competition.
Lumax Mannoh Allied Technologies Limited won the Part Design & Development (Supplier Design Category) Award from Maruti Suzuki India Limited in May, 2019.
Awards & Recognition
Lumax Mannoh Allied Technologies Limited awarded for Improvement in Quality Performance by Maruti Suzuki India Limited in May, 2019
Awards & Recognition
Lumax Cornaglia Auto Technologies Pvt. Ltd. was awarded the Silver Award in Manufacturing Excellence (Medium Category) and Lumax Auto Technologies Limited , Pantnagar was awarded the Silver Award in Manufacturing Excellence (Large Category) by ACMA in 2019
Award – LATL Chakan Plant, Received JIPM Award for TPM Excellence, Category B on 23rd March 2017
Awards & Recognition
Award for Excellence in Consistent TPM Commitment
Won the prestigious Gold award for Top 100 best annual report for excellence within its industry for the past fiscal year.
State-of-the-Art Manufacturing Facilities
State-of-the-Art Manufacturing Facilities
State-of-the-Art Manufacturing Facilities
CSR Initiatives
Education Health Towards its endeavour to give back to society, the group has taken various initiatives towards Education of the underprivileged. Four schools in the NCR region, close to its facilities have been adopted, starting with improving its infrastructure, to facilitating the annual fee so as to ensure a conducive environment for learning and continuity in education.
Also provide support towards maintaining good health of the
For further information, please contact:
Lumax Auto Technologies Limited CIN: L31909DL1981PLC349793
Ms. Priyanka Sharma [email protected]
www.lumaxworld.in/lumaxautotech
Strategic Growth Advisors Pvt. Limited CIN: U74140MH2010PTC204285
Mr. Shogun Jain / Ms. Akashi Modi [email protected] / [email protected]
Tel: +91 77383 77756 / +91 96198 96128 www.sgapl.net