Lumax Auto Technologies Ltd. — Regulatory Filings 2021

Feb 12, 2021

Date : 12.02.2021

LA TL:Q3:BM :2020-21

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

The National S~ock Exchange of India Limited Listing Compliance Department Exchange Plaza, C-1 Block G, Sandra Kurla Complex, Sandra (E), Mumbai - 400051

Scrip Code : 532796

Scrip Code: LUMAXTECH

Subject: Outcome of the Board Meeting held on Friday, 12th February, 2021

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 (hereinafter referred to as "the Listing Regulations"), we would like to inform you that the Board of Directors, at their meeting held today i.e. Friday, the 12th day of February, 2021, has inter-alia, considered and approved the following matters:

• 1. Standalone and Consolidated Unaudited Financial Results for the 3rd quarter and Nine Months ended 31st December, 2020 as recommended by the Audit Committee. A copy of the Standalone and Consolidated Unaudited Financial Results and the Limited Review Reports of Statutory Auditors i.e. S.R. Batliboi & Co. LLP are enclosed herewith as per Regulation 33 of the Listing Regulations.
• 1. Took note of the resignation of Mr. Kanchan Kumar Gandhi (DIN:08165876), Non-Executive Independent Director from the Board of Directors of the Company with effect from pt February, 2021.

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 12.30 P.M. and concluded at .?:-.:J9. .. P.M.

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

Thanking you,

Yours faithfully,

For LU MAX AUTO TECHNOLOGIES LIMITED

Encl: as above Lumax Auto Technologles Limited Plot No. -878, Udyog Vihar Phase-V, Gurugram - 122016 Haryana, India

T +91124 4760000 E shares@lumaxmall.com

Lumax Auto Techn_ologies Limited - REGO. OFFICE : 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, Naw Delhi - 110046, I - +9111 4985 7832, E - cao@lumaxmall.com

Lumax Auto Technologies Limited

Regd. Office : 2nd Floor, Harbans Bhawan-U, Commercial Complex, Nan gal Raya, New Delhi-110046 Website:www.lumaxwortd.innumaxautotech Tel: +9111 49857832

Email: shares@lumaxmail.com, CIN: L31909DL 1981 PLCJ.49793

Stu@m!!:nl of St1mdal0ne un-.1uditad fin;anci11I rec ult.,, tor the Nlnl!!l rnonth .lllnd quuter ended Dec.ember 31, 2020

(Rs. In Lakhs unless otherwise stated)

Sr. No.	Particulars	Quarter ended			Nine month ended		Year ended
		31,12,2020 (Unaudited)	30.09.2020 (Unaudited)	31,12,2019 (Unaudited)	31.12.2020 (Unaudited)	31,12,2019 (Unaudited)	31,03,2020 (Audited)
	Continuing operations
1	Income from operations
	Revenue from contracts with customers	29,636.07	23,518.43	24,263.35	59,233.09	72,556.20	94.236.07
	Other income	625.11	598.37	385,94	1,736.25	1,777.54	2,717.95
	Total Income	30,261.18	24,116.80	24,649.29	60,969.34	74,333,74	96,954.02
$\overline{2}$	Expenses
	a) Cost of raw materials, components and moulds consumed	15,475.11	12,624.31	12,634.54	31,500.69	38,971.08	50,228.88
	b) Purchases of traded goods	5,558.45	3,572.12	4,158.55	9,674,66	11,193.28	15.484.12
	c) Changes in inventories of finished goods, work-in-progress
	and traded goods	(366.16)	128.85	24.88	29.68	(139.29)	(542.28)
	d) Employee benefits expense	2,755.73	2,301.63	2,483.64	6,619.40	7,256.76	9,592.30
	e) Finance Costs	119,89	193.50	189.40	572.61	538.48	713.98
	f) Depreciation and amortisation expense	650.82	618.62	688.37	1,857.87	2,045.29	2,694.69
	g) Other expenses	3,441.60	2,795.88	2,878.86	7,234.23	9,187.21	12,657.28
	Total expenses	27,635.44	22,234.91	23,058,24	57,489.14	69,054.81	90,828,97
$\overline{\mathbf{3}}$	Profit before tax from continuing operations (1-2)	2,625.74	1,881.89	1,591.05	3,480.20	5,278.93	6,125.05
$\overline{\bf{4}}$	Tax Expenses
	Current tax	674.74	219.11	483.72	905.50	1,342.58	1,549.71
	Adjustment of tax relating to earlier years	(43.83)	3.90	(37.67)	(39.93)	(40.17)	(40.17)
	Deferred tax	(10.58)	236.54	(83.82)	(44.26)	(524.54)	(511, 87)
5	Net Profit for the period / year from continuing operations	2,005.41	1,422.34	1,228,82	2,658.89	4,501.06	5.127.38
6	Discontinued operations
	Profit before tax for the period / year from Discontinued operations	$\ddot{\phantom{a}}$	妥	÷	×,	948.58	946,58
	Tax expense of Discontinued Operations	×	运	÷	٠	123.29	123.29
	Profit for the period / year from Discontinued operations	ä,	×	÷	÷	825.29	825.29
7	Profit for the period / year (5+6)	2,005.41	1,422.34	1,228.82	2,658.89	5,326.35	5,952.67
8	Other Comprehensive Income / (loss) (net of taxes)
	Other Comprehensive Income not to be reclassified to statement of profit and loss in subsequent period -
	Re-measurement loss on defined benefits plans Income tax effect	(13.57)	(13.58)	(7.06) 1.47	(40.73) 4.96	(21.16) 5.89	(54.31) 13.67
		1.66 235.99	1.65		2,626.05		(5, 113.50)
	Gain/(Loss) on FVTOCI equity securities Income tax effect		1,250.81	217.62		(2,826.25) 91.63	48.84
			٠
$\mathbf{9}$	Total comprehensive income for the period / year (net of tax)	2,229.49	2,661.22	1.440.85	5.249.17	2,576.46	847.37
10	Earnings per share (Rs. per share of face value of Rs. 2 each)
	Earnings per share for Continuing operations (In Rs.) ;
	Basic & Diluted	2.94	2.09	1,80	3.90	6.60	7.52
	Earnings per share for Discontinued operations (In Rs.) :
	Basic & Diluted	۰	٠	×	٠	1,21	1,21
	Earnings per share for Continuing and Discontinued operations: (In Rs.)
	Basic & Diluted	2.94	2.09	1.80	3.90	7.81	8.73

Notes.:

t. These financial results have been prepared in accordance with Indian Accounting Standards (Ind - AS} 11!1 prescribed under Section 133 of the Companies Act 201 3 read with Rule 3 of the Companies (Indian Acc.o.unting Standards) Rules 2015 and relevant amendment thereafter.

1. The above standalone financial results have been duly reviewed by the Audit Committee and approved by the Board of Direclors in the meeting held on February 12, 2021 .The slalutorv auditors of the Company have conducted Audit of these standalone financial results pursuant to regulation 33 of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015.

J. Tho Campa,ry'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 flil nol applicable.

1. The World Health Organization (WHO} dedared an outbreak of Coronavirus Disease (COVI0-19} a global pandemic on March 11 . 2020 Consequent lo this, the Government of India declared lockdowns •M1ich have impacted the business activities of the Group during the first quarter. Accordingly, results of nine months ended on December 31, 2020, are not comparable lo the previous nine months ended on December J 1, 2019, on account of restriction in business activities caused due to COVI0-19 pandemic during the first quarter.

5~ The Code on Social Security 2020 (Code), which received the Presidential Assent on 28 Seplember 2020, subsumes nine laws relating to social security, retirement and employee benefits, including the Emplo-yee-s Provident Fund and Miscellaneous Provisions Act, 1952 and the Payment of Gratuity Act, 1972. The effective date of the Code is yet to be notified and related rules are yet to be framed, The impact of the change, Ir any, 'Nill be assessed and recognized post notification of the relevant provIsIons,

1. During the current quarter, the Company has acquired balance stake from the JV partner, Gill Austem LLC in respect of Lumax Gill-Austem Auto Technologies Private Limited ( Now Lumax Mettalic.s Private Limited)

2. Other income includes the gain in respect of sale of property during the current quarter amounting lo Rs 221 .78 lakhs.

3. The above financial results are available on the Company's website vcu~.,,.Jymaxworld.in/luma:irau10Iect1 and also on the v.'l!bsites of NSE (w,w,,,n5eindi.1 com} and BSE (www.bulndla,c.om}

For •nd on be l ¹¹of lho Board of DlreOlc"' cf Luma.I' Auto 1 !chnoh:1gh:s ,.. Limited r ^b

Place : Gurugram ~ ¹ ~~- - - ------ --- ---- - ---,,......, ~~1-~t -l ^~ . ic:)

Date : Febnmy 12, 2021 DIN : 000851148 / ._

4tl1 Floor, Office 405 World Marl,· 2 , Asset No. 8 IGI Air port Hospi tal ity Distric t, Aeroci t y New Delhi - 110 037, India Tel: 1-911146819500

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

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of of Lumax Auto Technologies Limited (the "Company") for the quarter ended December 31 , 2020 and year to date from April O I, 2020 to December 31, 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 Repotiing" 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 10, "Review of Interim Financial Infonnation 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.
• 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 I CA I Fi,teg:•;~ num be,, 3 0 I 003 E/E300005

per Vikas ~ a /

Partner Membership No. : 09442 1 UDIN: 21094421AAAABCl422

Place: New Delhi Date: 12' 11 February 202 1

* Lumax Auto Technologies Limited Regd. Office: 2nd Floor, Harbans Bhawan-U, Commercial Complex, Nangal Raya, New Delhi-110046 DK JAIN Website:www.lumaxworid.in/lumaxautotech Tel: +91 11 49857832 LUMI\X GROIJP Email: shares@lumaxmail.com, CIN: L31909DL 1981PLC349793
						~~ in L•khs-1,mles.s orh1trw/.1e .tt;:,iedl
	St';lh)men1 af Consorrd;alrd un~uditfl d firundal re!.ults fol' the nlne month .1nd qu.a_rtcr ended O@eaemb11:1r 31, 2020
		OunriC!'r ended			Nine month ended Ye .are_nded,
Sr. No.	Particulars	31.12.2020 (Unaudited)	30.09.2020 (Unaudited)	31.12.2019 (Unaudited)	31.12.2020 (Unaudited)	31.12.2019 (Unaudited)	31.03.2020 (Audited)
	Continuing Operations
1	Income from operations
	Revenue from contracts with customers Other income	36,519.74 684.73	28,376.58 334,83	28,699.92 542.57	71,994.67 1.416. 89	86.816.99 1,157.70	114,091 .38 1&l_9-1§_
	Total Income	~ 04.47	28,711.41	29,242.49 ~	.411-:S6	87,974.69	115,901.53
2	Expenses a) Cost of raw malerials, components and moulds consumed
	b) Purchases of traded goods	19,658.09 5,558.45	15,445.60 3,572. 12	15,025.46 4,286 31	39,107.64 9,674.66	47,332.82 11,336.17	62,070.27 15,484.12
	c) Changes in inventories of finished goods, work-in-progress	(410.66)	36.51	137.10	(122.52)	134.52	(31 5.60)
	and traded goods d) Employilil bilnilfit'i ilXpiln'iil	3,B3B.13	3,126.93	3,l71.28	Q,~12.9'1	10,:Z76,71	13,177.81
	e) Finance Cost	219.89	245.87	255.92	783.85	713.79	956.24
	f) Depreciation and amortisation expense g) O1her expenses	904.81	809.98 :J,~18. //	873,75	2,497.93	2,622.72	3,450,92 14,UY,:JY
	Total expenses	4,U/YA~ 33,848.17	26,454.78	:J,:J8Y.8/ 27,442.69	8,~Y:J.Y1 69,748.41	1U,1U4.4~ 82,521.18	109,403.15
3	Profit before share of joint ventures and tax from continuing operations ( 1- 2)	3,356.30	2,256.63	1,799.80	3,663.15	5,453.51	6,498.38
4 5	Share of Profit/(loss) of joinl ventures Profit before tax from Continuing Operations (3+4)	(3.26) 3,353.04	3,95 2,260.58	(8. 11) 1,791.69	4.60 3,667.75	(13.91) 5,439.60	(30.10\ 6,468.28
6	Tax Expenses
	Current Tax Adjustment of lax relating to eartier years	821.64 (53.65)	314.12 3.90	567.44 (48.98)	1,147.41 (49,75)	1,690.56 (50.01)	1,98B.12 (50.01 )
	Deferred Tax Net Profit for the period I year from continuing operations	49-06	368.68	{57.78]	{56.38\	{677.80)	(570.:i!7)
7		2,535.99	1,573.88	1,331.01	2,626.47	4,476.85	5,100.44
8	Discontinued Operations Profit before tax for the period / year from Discontinued operations		-		-	948,58	948.58
	Tax expense of Discontinued Operations		-		-	123.29	123,29
	Profit for the period I year from Discontinued operations	-	-	-	-	825.29	825.29
9	Profit for the period I year ( 7+8 )	2,535.99	1,573.88	1,331.01	2,626.47	5,302.14	5,925.73
10	Other Comprehensive Income/ (Loss) (net of taxes) Olher Comprehensive Income not to be reclassified to statement of profit and loss in subsequent period -
	Re-measuremenl loss on defined benefits plans	(2.63)	(5.54)	(3.46)	(17.14)	(7.73)	(29.14)
	Income tax effed Gain/(Loss) on FVTOCl equity securities	0.51 235.99	(0.42) 1,250.81	1.79 217.62	0,60 2,626.05	4.28 (2,826.25)	7.24 (5,113.50)
	Income tax effed Total comprehensive income for the period / year (net of tax)		-			91.63	48.87
		2 769.86	2.818.73	1 5A6.96	5 235.98	2 56A.07	839.20
11	Profit -11ftributuble to: a) Owners of Lumax Auto Technologies Limited
	- Prom for the Period/year from Continuing operations	2,307.59	1,534.03	1.161 .22	2,610.64	4,371 .27	4,978.60
	- Profit for the Period/year from Discontinued operations					825.29	825.29
	b) Non- controlling interests	2,307.59	1,534,03	1,161.22	2,610.64	5,196.56	5,803.89
	- Prorit/(Loss) for the Period/year from Continuing operations	228.40	39.85	169.79	15.83	105.58	121 .84
	- Ptufil fu1 llrt! Pt!1iull/yt!c11 rru111 Di~cu111inut!U uµtm:11iu11s	228,40	39.85	169,79	- 15.83	- 105.58	121 .84
	c) Total rrofit attributable to: (a I b)
	- Prom fur lhe PeduJ/yeaf f1u111 Cunlir1ui11y uµe1.sliull\$	2,939.99	1,973.88	1,331 .01	2,828.47	4,478.89	!, 100.44
	- Profil for lhe Period/year from Discontinued operations	- z.,J,.ss	- 1.,nee	- 1,331.01	- Z,6ZM7	825.29 ~-~02, 14	825.29 ' MZMJ
12	other comprehensive income / (Loss) attributable to:
	a) Owners of Lumax Auto Technologies Limited - Other comprehensive income/(loss) far the Period/year from Continuing operations	229.92	1,242.49	214.59	2,602.10	(2,742.28)	(5,093.40)
	- Other comprehensive income for the Period/year from Discontinued operalions	-				-	-
		229.92	1,242.49	214.59	2,602.10	(2,742.28)	(5,093.40)
	b) Non- controlling interests - Other comprehensive income for lhe Period/year from Continuing operations	3.95	2.36	1.36	7.41	4.21	6.87
	- Olher comprehensive income for lhe Period/year from Discontinued operalions		-		-	-	-
	c) Total Other comprehensive income/(loss) to Non- controlling interests (a+b)	3.95	2,36	1.36	7.41	4.21	6.87
	- Other comprehensive incame/(loss) far the Period/year from Continuing operations - Other comprehensive income for the Period/year from Discontinued operations	233.87 -	1,244.85 -	215.95 -	2,609.51 -	(2,738.07) -	(5,086.53) -
		23a.B7	1,Z44.85	215. SS	2,60951	1i,738,o7	15,086,liJ\
13	Total comprehensive income attributable to: (11+12) a) Owners of Lumax Auto Technologies Limited	2,537.51	2,776.52	1,375.81	5,212.74	2,454.28	710.49

a) Owners of Lumax Auto Technologies Limited 2,537.51 2,776.52 1,375.81 5,212.74 2,454.28 710.49 b) Nc11- ca.n1romng intl!t re.sll 232.35 42.21 171.15 23.24 109.79 128.71 14 Earnings per share (Rs. per share of face value of Rs. 2 each) Earnings per share for continuing operations: (In Rs.) : Basic & Diluted ( in Rs.) 3.39 2.25 1.70 3.83 6.41 7.30 Earnings per share for Discontinued operations: (In Rs.) : Basic & Diluted ( in Rs.) 1.21 1.21 Earnings per share for Continuing and Discontinued operations: (In Rs.) , Basic & Diluted ( in Rs~) 3,39 2.25 1.70 3.83 7.62 8.52 Ke1 Stan rfalone Fin11nc:ial Information ¹Revenue from contracts with customers - 29,636,07 23,518.43 24,263.35 59,233,09 72,556.20 94,236,07 ²Profit Before Tax from Continuing operations ;fj"-CH"f~ 2,625,74 1,881.89 1,591.05 3,480.20 5,278.93 6,125.05 ³Profit Before Tax from Disconlinued operations - 948.58 948.5B ^ATotal Comprehensive Income far the period/year . ;--------;.~<'--- 2,229.49 2,661 .22 1,440.85 5,249, 17 2,576.46 847.37 1~( 101

14 /,..

'

Notes;

1. These consolidated financial results have been prepared In accordance 'Mth Indian Accounting Standards (Ind - AS) as prescribed under Section 133 of the Companies Act 2013 read with Rule 3 of the C-0mp.unres (Indian Accounting Standards) Rules 2015 and relevant ilmendment thereafter .

.2.. The above Consolidaled financial results have been ~viewed by the Audit Committee and approved by lhe Board of Diredors at their meelrng held on February 12, 2021. Audit under regulation 33 of SEBI (Usting Obligation and Disclosures Requirements) Regulations, 2015 has been carried out by the Statulory Auditor of the group

3 The Group business adivity fells within a single business segment l,e manufacturing and trading of Automotive Components end therefore, segment reporting m terms of Ind-AS 108 on Segmental Reporting is not applicable.

1. The World Health Organization (WHO) dedared an outbreak of Coronavirus Disease (COVID-19) a global pandemic on March 11, 2020. Consequent to this, the Government of India declared lockdo'Mls whldl have impacted the business activities of the Group during the first quarter. Accordingly, results of nine months ended on December 31, 2020, are not comparable to the previous nine months ended on ~mbe, 31 , 2019, on account of reslridion in business adivities caused due 10 COVID-19 pandemic during the fi~l quarter.

2. The Code on Social Security 2020 (Code), 'Mlich received 1he Presidential Assent on 28 September 2020, subsumes nine laws relating 10 social security, retirement and employee benefits, including the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and the Paymenl of Gratuity Act, 1972. The effective dale of the Cade Is yet to be notified and related rules are-yet to be framed. The impact or tha change, It any, \Nill be assessed and recognized past notification of the relevant pravIsIans.

3. During the C1Jrrent quarter, lhe Holding Company has acquired balance stake from lhe JV panner, GIii Austem LLC in respect of Lumax Glll-Austem Aulo Technologies Private Limited ( Now Lumax MetUIIIC!i Pn-vo1e Limited)

7, Other income includes the gain in respect of sale of property of the Holding CompaITy during the current quarter amounting to Rs 221 78 lekhs.

1. The above financial results are available on the Company's website www:lummiwori<Linl1uma:tay1a1ech and also on lhe websites of NSE (www.nseindia.com) and BSE (www.bseindia.com)

~ · D KJain

Place : Gurugram Chairman Date : Fehru•ry 12, 2021 DIN : 00085848

S.R. BArL1B01 & Co. LLP Chartered Accountants

4th Floor, Office 405 World Mark · 2, Asset No. 8 IGI Airport Hospita lity Distri ct, Aerocit y New De lhi · 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) 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") and its subsidiaries (the Ho ldi ng Company and its subsidiaries together referred to as ''the Group"), its joint ventures for the quarter ended December 31,2020 and year to date from April O I, 2020 to December 31,2020 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regu lation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibil ity 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, (I nd AS 34) ·'Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 20 I 3 as amended, read with relevant rules issued thereunder and other accounting pri nciples genera lly accepted in India. Our responsibility is to express a conclusion on the Statement based on our revi ew.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 24 10, "Review of Interim Financ ial 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 perfo rm the review to obtain moderate assurance as to whether the Statement is free of materia l misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying ana lytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Aud iting 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 1/44/2019 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.

• 1. The Statement includes the results of the followin° 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 Lumax Gill-Austem Auto Technologies 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 lturan Telematics Private Limited Joint Venture entity of Lumax lnte2rated Ventures Private limited ,. .- :-: ,;-~,- :,, ^II. Sipal Engineerin_g Private Limited , .:~~(~} t-'.\? !\i';_ .. > (f . .f ~--.. • .\ '

S.R. BATLIBOI & Co. LLP

Chart ered Accountants

• 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 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.
• 1. The accompanying Statement includes the interim reviewed financial results in respect of:
• ⁰Six subsidiaries, whose unaudited interim financial results include total revenues of Rs 5,354.60 lakhs and Rs I 0, 177 .36 lakhs, total net profit/(loss) after tax of Rs. 291 .48 lakh s and Rs. (62.63) lakhs, total comprehensive income/(loss) of Rs. 30 I .30 lakhs and Rs. ( 46.04) lakhs, for the qua11er ended December 31,2020 and the period ended on that date respectively 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 (loss) / profit of Rs. (3.26) lakhs and Rs. 4.60 lakhs and Group's share of total comprehensive (loss) /income of Rs. (3.26) lakhs and Rs. 4.60 lakhs for the quarter ended December 31 ,2020 and for the period from April 0 I ,2020 to December 31 ,2020 respectively, as considered in the Statement whose interim financial results, other financial information has been reviewed by their respective independent auditors.

The independent auditor's repo11s 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, joint operations, joint ventures and associates is based solely on the report of such auditors and procedures perfonned by us as stated in paragraph 3 above.

1. Our conclusion on the Statement in respect of matters stated in para above 6 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 Chat1ered Accountants ICAI Firm registratio~ umber: 301003E/E300005

"" v;k.,~ ,~ . Pa11ner Membership No. : 09442 1 UDIN : 21094421AAAABD6766

Place: New Delhi Date: 12th February 2021