Lumax Industries Ltd. Business Report FY ended Mar. 2019
Financial Overview
(in million INR)
| FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | FY ended Mar. 31, 2017 | |
| Net Sales | 18,514.5 | 16,911.9 | 14,258.9 |
| EBITDA | 1,822.2 | 1,402.1 | 1,003.1 |
Contracts
-During the fiscal year ended March 31, 2019, the company wins contract for head lamp and tail lamp in domestic market for new models in passenger vehicle like Toyota Yaris, Maruti Ertiga, Maruti Wagon R, Force Motors Gurkha, Mahindra Marazzo, Two-wheeler - HMSI Aviator, Hero MotoCorp Destini 125, Maestro Refresh & Xpulse, Mahindra Jawa and Commercial Vehicle like Piaggio Vehicles Ape.
-During the fiscal year ended March 31, 2019, for overseas business, 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. It sustains current business in small Lamps with Nissan Europe.
Awards
-During the fiscal year ended March 31, 2019, the Company received following awards:
-Overall Performance (Shield) Award from Maruti Suzuki
-New Product Development award from Honda Motorcycle
-Design and Development award from SML Isuzu
-JIPM Award for Excellence in Consistent TPM Commitment for Pantnagar Plant
-JIPM-TPM Excellence Award for Bengaluru Plant
R&D Expenditure
(in million INR)
| FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | FY ended Mar. 31, 2017 | |
| Overall | 429.6 | 390.7 | 343.4 |
-Total R&D expenditure in FY ended Mar. 31, 2019 is 2.32% of total turnover.
R&D Activities
-During the fiscal year ended March 31, 2019, 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 Proto development for a new generation sleek 4 Wheeler Head Lamp
- Designing of Light guide for Position Lamp
- Designing of LED Head Lamp with Single Reflector (Low & High Beam)
- Designing of Light Curtain with Single LED for 2 Wheeler
- Designing and development for new generation Head Lamp and Tail Lamp for new styled 2 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
Technological Alliance
-The Company has a technical partnership with Stanley Electric Co. Ltd.
Capital Expenditure
(in million INR)
| FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | FY ended Mar. 31, 2017 | |
| Overall | 940 | 1,620 | 660 |
Investments in India
-The Company announces Phase 2 of Sanand plant expansion. Lumax has 300,000 vehicle sets capacity there and want to increase it to next 100,000 more for the passenger car.(From Q4 FY2018 earnings conference call on May 30, 2018 )
-The company has bought additional land in Gujarat, which is in Vitthalapur, near Suzuki Motor Gujarat (SMG) 1 and SMG 2. It will be putting up a Greenfield site. Lumax's original plan was to start operations in 2021 and 2022.(Lumax Industries Investor conference call Q1, FY 2018-19)
-For FY 2018-19, Lumax planed investment of INR 750 million to put up an in-house electronic facilities for manufacturing of PCBs (a critical part to lighting systems). The necessary process technology and manufacturing expertise will be provided by JV partner Stanley Electric Co. Ltd., Japan who is pioneer in this field.(From a press release on February 15, 2019)