Lumax Industries Ltd. Business Report FY ended Mar. 2017
Financial Overview
(in million INR)
| FY ended Mar. 31, 2017 | FY ended Mar. 31, 2016 | Rate of change (%) | |
| Net Sales | 12,997.80 | 12,551.80 | 3.6 |
| EBITDA | 1055 | 924.3 | 14.1 |
Contracts
-During the fiscal year ended March 31, 2017, the Company was able to successfully launch and secure business with Audi AG for development of Q2 LED High Mounted Stop Lamp as a global single source.
-The company also received orders to supply new age headlamps and rear lamps for the new generation Maruti Suzuki Swift and Tata Tigor.
Awards
- During the fiscal year ended March 31, 2017, the Company received the following awards:
- Quality improvement award from Maruti Suzuki India Limited
- Bronze Award for Excellence in Technology from ACMA
- Best supplier award from TAFE
- Supplier Business Capability Award from Mahindra & Mahindra Limited
- Kaizen Competition on “Energy Conservation” from Tata Motors
R&D Expenditure
(in million INR)
| FY ended Mar. 31, 2017 | FY ended Mar. 31, 2016 | FY ended Mar. 31, 2015 | |
| Overall | 343.4 | 267.6 | 252.2 |
- Total R&D expenditure in fiscal year 2016-17 is 2.6% of total turnover
R&D Activities
-During the fiscal year ended March 31, 2017, the Company engaged in the following research and development activities:
- Designed BI-LED projector head lamps for four-wheeled vehicles
- Designed LED front position lamps for four-wheeled vehicles
- Designed and prototyped next-generation sleek head lamps for four-wheeled vehicles
- Designed and developed LED head lamps and tail lamps for two-wheeled vehicles
- Designed and developed LED front position lamps for two-wheeled vehicles
- Designed and developed next-generation head lamps and tail lamps for newly styled two wheeled vehicles
-The Company's future research and development plans include the following:
- Introduction of LEDs for license plate lamps
- Introduction of head lamps with LED projectors
- Introduction of head lamps with dual LED beam functions
- Alignment with Stanley design procedures
- Introduction of LED Blinker
Technological Alliance
-The Company has a technical partnership with Stanley Electric Co. Ltd.
Capital Expenditure
(in million INR)
| FY ended Mar. 31, 2017 | FY ended Mar. 31, 2016 | FY ended Mar. 31, 2015 | |
| Overall | NA | 457.5 | 455.5 |
Investments in India
-The Company plans to invest INR 1 billion for expanding existing manufacturing facilities in Sanand and future expansion for supply of automotive lighting products to its customers.
- The Company opened a new Design Centre in Taiwan to strengthen its in-house design capabilities.
-The Company plans to invest INR 3,000 million for greenfield, brownfield, and capacity expansion projects through 2019. One project involves the launch of its production facility in Sanand, where the Company will invest approximately INR 400 million for infrastructure development. The Sanand plant is expected to be operational by the fiscal year ending March 2018. Since 2012, the Company has invested approximately INR 1,600 million in its production facilities in Bawal and Banglaore. (From a news article on November 28, 2014)
-The Company has invested INR 518 million towards upgrading its research and development facilities, and modernizing its existing manufacturing facilities including its Bawal, Dharuhera and Chakan plants.