Lumax Industries Ltd. Business Report FY ended Mar. 2020
Financial Overview
(in million INR)
| FY ended Mar. 31, 2020 | FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | |
| Net Sales | 16,016 | 18,515 | 16,912 |
| EBITDA | 1,674 | 1,787 | 1,402 |
Contracts
-During the fiscal year ended March 31, 2020, the company wins contract for head lamp and tail lamp in domestic market for new models in passenger vehicle like Maruti Suzuki S-Presso, MG Motors Hector, Honda WR-V, in Two-Wheeler Segment viz. HMSI Shine, TVS Motors N-Torq.
-During the fiscal year ended March 31, 2020, for overseas business, the company has started discussions with Truck Lite, North America for development of halogen head lamps for Navistar. Lumax is in discussions with Audi to increase the share of business in small lamps with LED applications. Lumax is also trying to make inroads with major OEMs in Central Europe and USA to introduce the Lumax brand with the target of increasing its OEM exports.
Awards
-During the fiscal year ended March 31, 2020, the Company received Overall Performance (Shield) Award from Maruti Suzuki India Limited.
R&D Expenditure
(in million INR)
| FY ended Mar. 31, 2020 | FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | |
| Overall | 459.9 | 429.6 | 390.7 |
-Total R&D expenditure in fiscal year 2019-20 is 2.9% of total turnover
R&D Activities
-Lumax Industries has two R&D locations at Gurugram, Haryana and Chakan, Pune.
-During the fiscal year ended March 31, 2020, the Company engaged in the following research and development activities:
- Designing of BI-LED Projector Headlamp for four wheeler.
- Designing of LED front position lamp for four wheeler.
- Designing and prototype development for a new generation sleek four wheeler headlamp
- Designing and development of LED Head Lamp & Tail Lamp for two wheeler
- Designing and development of Light Front position for two wheeler
- Designing and development for new generation Headlamp and Tail lamp for new styled two Wheeler
The Company's future research and development plans include the following:
- Introduction of LED for License plate lamp.
- Introduction of LED Blinker
- Introduction of head lamps with LED Projector
- Introduction of Sequential Turn in Headlamp and Tail Lamp.
Technological Alliance
-The Company has a technical partnership with Stanley Electric Co. Ltd.
-During the fiscal year 2019-20, Lumax Industries and Stanley Electric Co. Ltd., Japan announced the extension of the existing joint venture (JV) business including electronics parts & components with complete range of Stanley Electric products – current and future ‐ to the Indian automotive industry. Starting with the production of Printed Circuit Board (PCB), which is the core component of automotive lighting system, the JV will extend its product line to Heating Ventilation Air Conditioning panel (HVAC) in the near future. The product will be localized and manufactured at the newly setup Electronic facility of the company at Bawal, Haryana. Lumax is already in discussion with Japanese OEMs.
Capital Expenditure |
(in million INR) |
| FY ended Mar. 31, 2020 | FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | |
| Overall | 1,674 | 940 | 1,620 |
Investments in India
-During the fiscal year 2019-20, Lumax has invested INR 236.7 million for purchase of plant and machinery for PCB, INR 648.6 million towards expansion of Sanand and Bangalore plants and INR 534.6 million for capex for new projects at other Plants.
-Lumax has started the commercial production of PCB with effect from April 11, 2019 at the unit situated at Plot No. 91 B, Sector5, IMT Manesar, Gurugram, Haryana. The Company has acquired assets and inventory for manufacturing of PCB’s from Lumax Auto Technologies Limited.