Lumax Industries Ltd. — Board/Management Information 2021

Feb 11, 2021

LIL:Q3:BM:2020-21	Date : 11.02.2021
BSE Limited	The National Stock Exchange of India Limited
Listing & Compliance Department	Listing & Compliance Department
Phiroze Jeejeebhoy Towers,	Exchange Plaza, C-1 Block G,
Dalal Street, Mumbai - 400001	Sandra Kurla Complex,
	Sandra (E), Mumbai - 400051
Security Code: 517206	Company Symbol: LUMAXIND

Subject Outcome of the Board Meeting held on 11 th February, 2021

Sir/ Ma'am,

Pursuanl Lo Lhe provisions of Regulalion 30 and olher applicable Regulalions or Lhe 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 that the Board of Directors, at their Meeting held today i.e. Thursday, the 11th February, 2021, has inter-alia, considered and approved the following matters:

• 1. Standalone & Consolidated Unaudited Financial Results for the 3rd Quarter and Nine Months ended 31 st December 2020, 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. Mis B.S.R. & Associates LLP, are enclosed herewith as per Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 1. Took note of the resignation of Mr. Munish Chandra Gupta (DIN: 01362556), Non-Executive Independent Director from the Board of Directors of the Company with effect from 4th December, 2020.
• 1. Based on recommendation of the Nomination and Remuneration Committee, Board of Directors has considered and approved the appointment of Mr. Vikrampati Singhania (DIN: 00040659) as an Additional Director designated as Non-Executive Independent Director for a period of five (5) years.

The detailed disclosure as required under SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 with regard to the aforesaid appointment is enclosed herewith as Annexure-1.

The Extracts of Consolidated results would be published in the Newspapers in terms of Regulation 47(1) of SEBI (LODR) Regulations, 2015, as amended from time to time and same shall be placed on the website of the Company.

The Meeting of the Board of Directors commenced at 12.50 P.M. and concluded at 2t ~"l> P.M.

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

Thanking You,

For LUMAX INDUSTRIES LIMITED

~~ COMPANY SECRETARY M. NO. A28161

Encl.: as above

Lumax Industries Limited Plot No.-878, Udyog Vihar Phase-V, Gurugram - 122016 Haryana, India

T +91124 4760000 E lil.ho@lumaxmail.com

www.lumaxworld.in

Lumax Industries Limted - REGD. OFFICE: 2"' Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi -110046 T - +9111 4985 7832, E - cao@lumaxmail.com

Appointment of Independent Director

Details of Event	Information of such Event(s)
ReasonforChangeviz.appointment,resignation, removal, death or otherwise	Appointment of Mr. Vikrampati Singhania as anAdditional Non Executive Independent Director onthe Board of the Company.
Date of appointment	11th February, 2021
Term of appointment	Appointment as an Additional Director designated asNon-Executive Independent Director for a period offive (5) years subject to approval of the Shareholdersof the Company in the next Annual General Meetingto be held in Year 2021.
Brief Profile	Mr. Singhania is a fourth-generation industrialistbelonging to one of the largest industrial groups inlndia-J.K. Organisation. JK Organisation is an over125 years old business house with leadership acrossmultiple sectors. The Group is present in 100countries apart from all India presence with annualsales revenue of over US$ 4.15 billion. The Groupmanufactures and markets a wide range of productsfromPaper,AutomobileTyres,Cement,AutoComponents, Textiles, Agri Products, etc.Mr. Singhania did his Master's Degree in Commercefrom Kanpur University and his MBA from FuquaSchool of Business, Duke University, USA.He has Association with Professional Bodies:□ Member of Fuqua Indian Advisory Board of DukeUniversity, USA□ Member of Managing Committee, The Associatedof IndiaChambersof Commerce&Industry(ASSOCHAM).D Member of Executive Committee of AutomotiveComponent Manufacturers Associationof India(ACMA).
Disclosure of relationships between Directors	Mr. Vikrampati Singhania is not related with any ofthe Directors and Key Managerial Personel (KMP) ofthe Company as on the date of his aappointment.
For LUMAX INDUSTRIES LIMITED
l~
COMPANY SECRETARYM. NO. A28161

Lumax Industries Limited Plot No.-878, Udyog Vihar Phase-V, Gurugram -122016 Haryana, India

T +91124 4760000 E lil.ho@lumaxmail.com

www.lumaxworld.ln

~Lumax Industries Limted- REGD. OFFICE: 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi-110046 DK JAIN T - +9111 4985 7832, E - cao@lumaxmall.com GROUP

LUMAX INDUSTRIES LIMITED

Regd. Office: 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi-110046 DKJAIN Website: www.lumaxworld.in/lumaxindustries, Tel: +911149857832 GROUP

Email: lumaxshare@lumaxmail.com, CIN: L74899DL1981PLC012804

STATEMENT OF STANDALONE UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2020

		Quarter endedNine months ended					Year ended
Particulars		31.12.2020	30.09.2020	31.12.2019	31.12.2020	31.12.2019	31.03.2020
		(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited)	(Audited)
I	Revenue from operations	44,624.24	39,733.92	38,324.72	92,159.02	121,429.92	160,158.72
II	Other income	lBB.B2	455.42	99.29	936.35	557.24	966.19
	Ill Total income [I + II]	44,813.06	40,189.34	38,424.01	93,095.37	121,987.16	161,124.91
	IV Expenses
	a) Cost of raw material and components consumed	27,939.67	23,450.12	21,294.36	56,130.64	67,925.62	87,782.00
	b) Cost of moulds, tools & dies	913.07	1,791.95	1,874.63	3,160.83	6,447.12	10,665.41
	c) Purchases of stock-in-trade	115.42	123.80	31.98	240.00	442.13	442.13
	d) Changes in inventories of finished goods, work in progress and stock in trade	(1,117.17)	(185.31)	(331.91)	(1,055.66)	(384.22)	(498.85)
	e) Employee benefits expense	5,689.00	4,978.49	5,365.98	14,289.68	16,000.25	20,991.68
	f) Finance costs	6B4.73	829.97	598.45	2,2B7.B1	1,563.30	2,191.56
	g) Depreciation and amortisation	1,717.15	1,652.79	1,612.53	4,748.77	4,719.92	6,354.42
	h) Other expenses	6,292.17	5,913.09	5,772.36	14,427.40	18,590,09	25,001.30
	Total expenses[IV]	42,234.04	38,554.90	36,218.38	94,229.47	115,304,21	152,929.65
V	Profit/(Loss) before tax [Ill - IV)	2,579.02	1,634.44	2,205.63	(1,134.10)	6,682.95	8,195.26
	VI Tax expense:
	a) Current tax (including earlier years)	393.19	275.17	122.53	(254.04)	1,084.70	1,380.07
	b) Deferred tax charge/(credit) including MAT for earlier years	B20.27	517.46	454.86	(262.29)	681.38	(415.50)
	VII Profit/(Loss) for the period [V - VI]	1,365.56	841.81	1,628.24	(617.77)	4,916.87	7,230.69
	VIII Other comprehensive income/(loss)
	Items that will not be reclassified to profit or loss
	-Remeasurements of defined benefit liability/asset	(23.60)	(23.60)	(52.51)	(70.80)	(157.54)	(94.38)
	•Income tax relating to above	-
	Total other comprehensive income/(loss) [VIII]	(23.60)	(23.60)	(52.51)	(70.80)	(157.54)	(94.38)
IX	Total comprehensive income/(loss) [VII+ VIII]	1,341.96	818.21	1,575.73	(688.57)	4,759.33	7,136.31
X	Paid up equity share capital (face value - ~ 10 per share)	934.77	934.77	934.77	934.77	934.77	934.77
XI	Earnings/(Loss) per share (EPS)/(LPS) [not annualised]	14.61	9.01	17.42	(6.61)	52.60	77.35
	Basic/Diluted EPS/LPS

Notes:

1. Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Company's business activity fall within a single operating segment, namely Automotive component segment. Accordingly, the disclosure requirements of Ind AS 108 are not applicable.

2. The Company's operations were adversely impacted by the outbreak of the COVID-19 pandemic and the consequent lockdown announced by the Government of India. The operations have been resumed with requisite precautions in place. The operations of the company have gradually started moving towards normalcy, though the challenges still prevail. The situation is continuously evolving and management will continue to monitor any material changes arising due to the impact of this pandemic on the financial and operational performance of the Company and take necessary measures to address the situation.

3. The above results for the quarter and nine months ended 31 December 2020 were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 11 February 2021. The unaudited results for the current quarter and nine months ended have been reviewed by the Statutory Auditor. The review report of the Statutory Auditor is being filed with BSE limited and National Stock Exchange of India Limited.

Place: Gurugram Date: 11 February 2021

For and on behalf of the Board of Directors of

Lumaxr ui Dee' Jai;--y Chairman & Managing Director

DIN: 00004972

B S R & Associates LLP

Chartered Accountants

Building No.10, 12th Floor, Tower-C, DLF Cyber City, Phase-II, Gurugram - 122 002, India

Telephone: Fax:

+91124 719 1000 +91 124 235 8613

To

Board of Directors of Lomax Industries Limited

• I . We have reviewed the accompanying Statement of unaudited standalone financial results of Lumax Industries Limited for the quarter ended 31 December 2020 and period to date results for the period from l Aptil 2020 to 31 December 2020.("the Statement").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.
• 1. 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 is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and 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 applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B SR & Associates LLP Chartered Accountants Firm Registration No.: 116231W/W-100024

MAN I 5 H ' Digitally signed by MANISH KAPOOR KAPOOR. _0ate:2021 .02.11 ,,, 13:38:33 +05'30'

Manish Kapoor Partner Membership No.: 510688 ICAI UDIN: 21510688AAAAAF4134

Place : Gurugram Date : 11 February 2021

B S A & Associates (a parcnersh1p firm with Registration No, BA69226I converted into B S R & Associates LLP la Limited Liability Partnership with LLP Registration No. AAB-8182) with effect from October 14, 2013

Registered Office: 14th Floor, Cemral B Wing aid North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon !East). Mumbai - 400063

LUM.RX . .. LUMAX INDUSTRIES LIMITED * Regd. Office: 2nd Floor, Harbans Bhawan-11, Commercial Complex, Nangal Raya, New Delhi-110046 DKJAIN Website: www.lumaxworld.in/lumaxindustries, Tel: +911149857832 GROUP

Email: lumaxshare@lumaxmail.com, CIN: L74899DL1981PLC012804

STATEMENT OF CONSOLIDATED UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31" DECEMBER 2020

							l>t in lakhsJ
Particulars			Quarter ended			Nine months ended
		31.12.2020	30.09.2020	31.12.2019	31.12.2020	31.12.2019	31.03.2020
		(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited)	(Audited)
I	Revenue from operations	44,624.24	39,733.92	38,324.72	92,159.02	121,429.92	160,158.72
II	Other income	188.82	455.42	99.29	936.35	326-32	735.27
Ill	Total income [I+ II]	44,813.06	40,189.34	38,424.01	93,095.37	121,756.24	160,893.99
	IV Expenses
	a) Cost of raw material and components consumed	27,939.67	23,450.12	21,294.36	56,130.64	67,925.62	87,782.00
	b) Cost of moulds, tools & dies	913.07	1,791.95	1,874.63	3,160.83	6,447.12	10,665.41
	c) Purchases of stock-in-trade	115.42	123.80	31.98	240.00	442.13	442.13
	d) Changes in inventories of finished goods, work in progress and stock in trade	(1,117.17)	(185.31)	(331.91)	(1,055.66)	(384.22)	(498.85)
	e) Employee benefits expense	5,689.00	4,978.49	5,365.98	14,289.68	16,000.25	20,991.68
	t) Finance costs	684.73	829.91	!,98.4!,	2,2H7.Hl	1,!>o3.3U	2,191.,0
	g) Depreciation and amortisation	1,717.15	1,652.79	1,612.53	4,748.77	4,719.92	6,354.42
	h) Other expenses	6,292.17	5,913.09	5,772.36	14,427.40	18,590.09	25,001.30
	Total expenses [IV]	42,234.04	38,554.90	36,218.38	94,229.47	115,304.21	152,929.65
V	Profit/I Loss) before income tax and share in profit/(loss) of associate [Ill - IV]	2,579.02	1,634.44	2,205.63	(1,134.10)	6,452.03	7,964.34
VI	Profit/(Loss) of Associate	947.66	(175.98)	314.26	252.56	982.35	1,208.76
	VII Profit/(Loss) before tax [V+ VI]	3,526.68	1,458.46	2,519.89	(881.54)	7,434.38	9,173.10
	VII I Tax expense:
	a) Current tax (including earlier years)	393.19	275.17	122.53	(254.04)	1,084.70	1,380.07
	b) Deferred tax charge/(credit) including MAT for earlier years (refer Note 2)	1,151.55	460,11	507.50	(172.42)	795.63	603,35
IX	Proflt/[Loss) for the period [VII-VIII]	1,981.94	723.18	1,889.86	(455.08)	5,554.05	7,189.68
X	Other comprehensive income/(loss)
	Items that will not be reclassified to profit or loss
	~Remeasurements of defined benefit liability/asset	(23.22)	(11.76)	(58.06)	(66.19)	(191.44)	(68.79)
	-Income tax relating to above	-				-
	Total other comprehensive income/(loss) [X]	(23.22)	(11.76)	(58.06)	(66.19)	(191.44)	(68.79)
XI	Total comprehensive income/(loss) [IX+ X]	1,958.72	711.42	1,831.80	(521.27)	5,362.61	7,120.89
	XII Paid up equity share capital (face value - ~ 10 per share)	934.77	934.77	934,77	934.77	934.77	934.77
	XIII Earnings/(Loss) per share (EPS)/(LPS) [not annualised]	21.20	7.74	20 ,22	(4.87)	59.42	76.91
	Basic/Diluted EPS/LPS

Notes:

1. Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Company1 s business activity fall within a single operating segment, namely Automotive component segment. Accordingly, the disclosure requirements of Ind AS 108 are not applicable.

2. Deferred tax includes the following figures as deferred tax charge/(credit) relating to share on profits/(loss) of Associate:

Particulars	Quarter ended			Nine months ende.d		Year ended
	31.12.2020	30.09.2020	31.12.2019	31.12.2020	31.12,2019	31.03.2020
	(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited I	(Un-audited)	(Audited)
Delerred tax cMrge/1cr~dltj relat,nitto shn r1fon prof,t/j lon) of associate	331.28	(!,/,3!,)	!>Lb4	89.86	114.l!,	1,U18.8!,

1. The Company's operations were adversely impacted by the outbreak of the COVID-19 pandemic and the consequent lockdown announced by the Government of India. The operations hove been resumed with requisite precautions in place. The operations of the company have gradually started moving towards normalcy, though the challenges still prevail. The situation is continuously evolving and management will continue to monitor any material changes arising due to the impact of this pandemic on the financial and operational performance of the Company and take necessary measures to address the situation.

2. The above results for the quarter and nine months ended 31 December 2020 were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 11 February 2021. The unaudited results for the current quarter and nine months ended have been reviewed by the Statutory Auditor. The review report of the Statutory Auditor is being filed with BSE Limited and National Stock Exchange of India Limited.

Place: Gurugram Date: 11 February 2021

For and on behalf of the Board of Directors of Lumax ( ustri~ ~

~e Jai :,r Chairman & Managing Director DIN: 00004972

B S R & Associates LLP

Chartered Accountants

Building No.10,12th Floor, Tower-C, DLF Cyber City, Phase-II, Gurugram -122 002, India

Telephone:

Fax: +91 124 719 1000 +91 124 235 8613

To

Board of Directors of Lomax Industries Limited

• 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Lumax Industries Limited ("the Holding Company") and its share of the net profit after tax and total comprehensive income of its associate.for the quarter ended and period to date results for the period from I April 2020 to 31 December 2020 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as a111t:11Jt:J ('Lisling Rt:gulaliuus').
• 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 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. 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) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants oflndia. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an· audit. Accordingly, we do not express an audit opinion.

We also pe1formed procedures in ac.c.orclance with the c.irc.ular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

• 1. The Statement includes the financial results of SL Lumax Limited ("the Associate").
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditor 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 the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The consolidated unaudited financial results also include the Holding Company's share of net profit after tax of Rs. 947.66 lakhs and Rs 252.56 lakhs (before consolidation adjustment) and total comprehensive income Rs. 948.02 lakhs and Rs.257.16 lakhs (before consolidation adjustment) for the quarter ended 31 December 2020 and for the period from 1 April 2020 to 31 December 2020, respectively, as considered in the Statement, in respect of an associate, whose interim financial information has not been reviewed by us. This unaudited interim financial information has been

Registered Office:

B S R & Associates LLP

reviewed by other auditor whose report has been furnished to us and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the associate, is based solely on the report of the other auditor and the procedures performed by us ~s stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

For B S R & Associates LLP Chartered Accountants Firm Registration No.: 116231W/W-100024

MAN I 5 H Digitally signed by MANISH KAPOOR KA Poo R Date: 2021.02.11 • .1 1 3:38:59 +05'30'

Manish Kapoor Partner Membership No.: 510688 ICAI UDIN: 21510688AAAAAE8643

Place : Gurugram Date : 11 February 2021