Slides
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[ [ Lumax Auto Technologies Limited [ [ Q2 & H1 FY 27 Investor Presentation
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Fostering Partnerships, Propelling Growth. Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Lumax Auto Technologies Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections. 2
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Fostering Partnerships, Propelling Growth. Contents 3 01Who We Are: Lumax Group & Lumax Auto Technologies4 02Strategy & Growth Outlook16 03Q2 & H1 FY27 Operational & Financial Performance21 04ESG & CSR Initiatives31 05Awards & Accolades35 06Glossary 38
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Who We AreLumax Group & Lumax Auto Technologies
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Lumax Group A Legacy of Innovation, A Future of Transformation8 Decades of Group Legacy2 Decades of Lumax Auto Technologies Fostering Partnerships, Propelling Growth.5
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Fostering Partnerships, Propelling Growth. A New Era 6 - Amalgamation of our eight -decade legacy & our eternal existence- Seamless and smooth transition over three generations- Shows the lineage of our Brand’s ethos across each era WARMTHPOSITIVITYPASSIONENERGY HERITAGESTABILITY
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Fostering Partnerships, Propelling Growth. Lumax Group at a Glance 7 8Decades of legacy41Manufacturing facilities8States in India10Partnerships7Design, R&D, engineering & tech centres15,000+EmployeesINR ~12,000CrLumax brand revenue, FY26 Lumax Industries Limited (LIL)Listed on BSE & NSE•Leader in automotive lighting: end-to-end exterior lighting, interior cabin lighting and new-technology lighting (AFS, ADB, Matrix)•Serves all segments –2W, 4W, CV and farm equipment•Technology partners: Stanley Electric, Japan (since 1984) and SL Corporation, Korea (since 1997)•12 manufacturing plants Lumax Auto Technologies Limited (LATL)Listed on BSE & NSE•Diversified automotive systems: Advanced Plastics & Interiors, Structures & Control Systems, Mechatronics, Alternate Fuels and Aftermarket•One of the dominant players in gear shifters, interior solutions and CNG components.•8partnerships across Japan, Italy, Spain, Israel and India•29manufacturing plants Group figures include Lumax Industries Limited and Lumax Auto Technologies Limited, along with their subsidiaries, JVs and associates. Lumax Brand Revenue includes revenues of SL Lumax Limited, an associate of Lumax Industries Limited and their collaboration encompasses the production of end-to-end lighting systems and other automotive components
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Fostering Partnerships, Propelling Growth. Lumax Group: Our Purpose, Vision and Values 8 Our PurposeOur VisionOur Values
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Fostering Partnerships, Propelling Growth. Lumax Group: Journey over the Years 9 1945–1955•Founded ‘Globe Auto Industries’ as a trading partnership firm 1955–1975•Set up dedicated unit for automotive lighting equipment in Delhi-NCR and Maharashtra 1975–1985•Lumax Industries Pvt Limited established from Globe Auto Industries•Technical agreement with Stanley, Japan for lighting equipment•Lumax Auto Electricals established to manufacture 2-wheeler lighting at Bhosari, Maharashtra 1985–1995•Lumax Industries listed on the stock exchanges 1995–2005•Lumax Industries JV with SL Corporation, Korea (1997)•Lumax Auto Electricals renamed Lumax Auto Technologies Limited 2005–2015•Lumax Auto Technologies listed on the stock exchanges•JVs with Cornaglia, Italy and Mannoh Industrial, Japan 2015–2023•JVs with FAE, Spain; Ituran, Israel; Yokowo, Japan; and Alps Alpine, Japan 2023–2026•Acquired 60% stake in Greenfuel Energy Solutions•Opened ‘SHIFT’ tech centre, Bengaluru•Opened Japan satellite office and China representative office•Merger of IAC India completed
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Fostering Partnerships, Propelling Growth. Lumax Auto Technologies Limited (LATL) at a Glance 10 FY26Financial highlightsINR 4,870 CrRevenueINR 705 CrEBITDA (14.5% margin)INR 337 CrPATINR 40.9EPS34%Revenue CAGR, FY21–FY26 29Manufacturing facilities pan-India8Partnerships3R&D, engineering & tech centres500+R&D specialists 20+Long-term OEM relationships500+Aftermarket channel partners; 35,000+ retail touch points 54%Contribution to Lumax Group revenue 2Overseas offices –Japan & China Revenue mix by product vertical, FY2653%17%10%8%6%6%Advanced Plastics (53%)Structures & Control Systems (17%)Aftermarket (10%)Alternate Fuels (8%)Mechatronics (6%)Others (6%)Revenue mix by vehicle segment, FY2653%24%10%9%4%Passenger vehicles (53%)2/3-wheelers (24%)Aftermarket (10%)Commercial vehicles (9%)Others (4%) Lumax Group Revenue refers to combined revenue of Lumax Industries Limited and Lumax Auto Technologies Limited
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Fostering Partnerships, Propelling Growth. LATL: Two Decades of Transformation 11 FY05 FY26 The ShiftRevenue~INR 100 CrINR 4,870 Cr| 49xFrom Growth to Scale Product verticals1 –Lighting5 –Advanced Plastics, Structures & Control Systems, Mechatronics, Alternate Fuels, AftermarketFrom Product to Portfolio Manufacturing facilities1 plant29facilities in major auto hubsFrom Local to Pan-India Engineering strength<10 engineers; reverse engineering & built-to-print500+ R&D specialists; innovation & IPR focusedFrom Execution to Innovation Strategic partnershipsNil 8partnershipsGrowth Through Partnerships Vehicle segments2-wheelers onlyHealthy mix of passenger vehicles, 2/3-wheelers and commercial vehiclesFrom Single Segment to Multi-Segment
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Fostering Partnerships, Propelling Growth. LATL: Partnerships Over the Years 12 2007 Cornaglia ItalyEmission systems –urea tanks, air filters, CAC ducts50% in Lumax Cornaglia 2008 Mannoh JapanGear shifters –MT, AT, AMT, DCT55% in Lumax Mannoh 2017 FAE SpainOxygen sensors 100% in Lumax FAETechnical agreement* 2017 Ituran IsraelTelematics products and services50% in Lumax Ituran 2020 Yokowo JapanAntennas and vehicle communication products50% in Lumax Yokowo 2021 Alps Alpine JapanElectric devices and components –Sensors and Switches50% in Lumax Alps Alpine 2022 IO Industry JapanTechnical assistance for kinematic componentsTechnical agreement 2023 IAC USAVehicle interior solutions IAC India 100% owned; merged into LATL 2024 Greenfuel IndiaGreen & alternate fuels –CNG, hydrogen and other applications60% in Lumax Greenfuel Energy*LATL held 84.03% in Lumax FAE; the balance 15.97% was acquired in FY27, making it a wholly owned subsidiary. FAE continues to provide technical support. LATL divested its 50% stake in Lumax Jopp Allied Technologies (JV with Jopp, Germany) to the JV partner in FY27.
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Fostering Partnerships, Propelling Growth. LATL: A Diverse and Powertrain-Agnostic Portfolio 13 Content per vehicle, up ~5x in the last 5 years4W INR 70–75K2W INR 22–25KAdvanced Plastics4-wheelers•Cockpits & consoles•Headliners•Door panels•Trims•Louvers•Air intake systems †•Tanks 2-wheelers•Lamps•Fenders Structures & Control Systems4-wheelers•Gear shifters•Control housing•Monostable e-shifters•Smart actuators•Shift towers•Seating structures 2-wheelers•Frames•Swing arms Mechatronics4-wheelers•Power window switches•Telematics Control Unit (TCU)•Antennas2-wheelers•OxygenSensors, •Throttle Position Sensor (TPS)•In-Vehicle Infotainment (IVI) Alternate Fuels4-wheelers•CNG delivery systems including Tubes & Fittings, Receptacle•Hydrogen and other alternate-fuel applications AftermarketAll vehicle segments•Lighting & bulbs•Filters•Horns•Mirrors•Wiper blades•Control cables•Lubricants & coolants•Electricals All OEM products serve both ICE and EV platforms, except † Air intake systems (ICE only); CNG delivery systems are fuel-specific.
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Fostering Partnerships, Propelling Growth. LATL: Strategic Manufacturing Locations in Proximity to Customers 14 13 9 3 1 1 1 1 29Manufacturing plants7States3R&D, engineering & tech centres2Overseas offices StateLocationsPlantsMaharashtraPune, Nashik, Chhatrapati Sambhajinagar (Waluj)13HaryanaManesar, Gurugram9KarnatakaBengaluru 3GujaratMehsana 1RajasthanBhiwadi 1UttarakhandPantnagar 1Madhya PradeshPithampur1Total 29R&D, engineering & techR&D centre, Manesar | Engineering centre, Pune | SHIFT tech centre, BengaluruInternationalSatellite office, Japan | Representative office, China Numbers on the map indicate manufacturing plants per state. Map not to scale. All data, information and maps are provided ‘as is’ without warranty or any representation of accuracy, timeliness or completeness. ChinaRepresentative officeJapanSatellite office
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Fostering Partnerships, Propelling Growth. LATL: Five Years of Profitable Growth: Revenue 4.4x, PAT 6.6x 15 Revenue (INR Cr) 1,1081,5081,8472,8223,6374,870 FY 21FY 22FY 23FY 24FY 25FY 26 34% CAGR EBITDA (INR Cr) 114163224413516705 FY 21FY 22FY 23FY 24FY 25FY 26 44% CAGR EBITDA Margin (%) 10.3%10.8%12.1%14.6%14.2%14.5% FY 21FY 22FY 23FY 24FY 25FY 26 +420 bps PAT (INR Cr) 5182111167229 337 FY 21FY 22FY 23FY 24FY 25FY 26 46% CAGR Consolidated. CAGR = compound annual growth rate, FY21–FY26; margin change in basis points (bps), FY21–FY26.PAT before Minority Interest
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Fostering Partnerships, Propelling Growth. LATL: Strategic Priorities for the Road Ahead 16 01 Accelerating the Tier-0.5 Transition•From components to complete systems: mechatronics and electronics integrated with plastics and interiors into plug-and-play systems for OEMs•SHIFT tech centre, Bengaluru: pivotal to the Tier-0.5 transition, focused on software, embedded electronics and connected systems•Engaging OEMs from the planning stage to the finished assembly, raising content per vehicle 02 Driving Premiumisation& Localisation•China Resource Centre scouts global trends in interior cabin spaces and ambient lighting•Rapid localisationdelivers cost-competitive premium solutions; new ambient lighting business secured for upcoming OEM programmes•Content per vehicle up ~5x in 5 years: 4W INR 70–75K, 2W INR 22–25K 03 Expanding the Clean Mobility Footprint•Scaling Greenfuel Energy Solutions in alternate fuels (CNG, hydrogen) and EV components•First domestic supplier to localiseferrule-less tubes and fittings for CNG vehicles, previously imported industry-wide•Powertrain-agnostic portfolio captures growth across ICE and EV platforms 04Going up the Value Chain Guided by BRIDGE (Bold Roadmap Integrating Diverse Growth Engines) and our 20.20.20.20 North Star–20% revenue CAGR, FY25–FY31e •Higher content per vehicle and wallet share with existing OEMs, including Maruti Suzuki, Mahindra & Mahindra, Tata Motors and Bajaj Auto•Broadening the customer base: IAC, Greenfuel and Mechatronics adding new OEMs•From mechanical to intelligent, connected systems: A portfolio spanning sensing, control (ECUs/BCM), connectivity (TCUs, antennas) and HMI, backed by the SHIFT tech centre for software-defined vehicles.
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Fostering Partnerships, Propelling Growth. LATL: Our North Star -20.20.20.20 20%Minimum Revenue CAGR FY25INR 3,637 Cr➜FY31e~INR 11,000 Cr KEY GROWTH DRIVERSNew product segments in clean& future mobilitySoftware-driven solutions forADAS & connected vehiclesPremiumisation&lightweighting trendsFuture acquisitions 20%EBITDA Margin Long Term Vision FY2514%➜Long Term Vision20% KEY GROWTH DRIVERSMove into high-value electronicssuch as Body Control ModulesHigher content per vehicle & JVwallet shareRicher mix of premium products 20+%ROCE –Capital Efficiency FY2518%➜FY2820+% KEY GROWTH DRIVERSImproving asset turns and utilizations driven by technologically led operational excellenceMargin expansion on a largerrevenue base 20%Revenue from Future & CleanMobilityFY256%➜FY3120% KEY GROWTH DRIVERSFocus on EVs, clean energy &electrificationGreenfuelalternate-fuelsystems (CNG, hydrogen)SHIFT centre: telematics, ADAS,HMI & SDVs Revenue in INR Cr. FY31e revenue of ~INR 11,000 Cr includes ~INR 8,500 Cr organic; growth from FY25 base of INR 3,637 Cr17 INR 500Cr~INR 1,000 Cr ➜FY25 EBITDAFY28e EBITDA
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Fostering Partnerships, Propelling Growth. LATL: Investing for the Next Phase of Growth 18 FY26 INR 233 CrCapex FY27e INR 300 CrEstimated capex Key Recent Greenfield Expansions IAC PlantChakanPurposeNew orders from Mahindra & Mahindra and serving as Centre of Excellence for Door Trims & PanelsTimelineQ4 FY27 Mechatronics Mega (M1)PlantManesarPurposeFour JVs under one roof; these will drive significant economies of scale and operational synergies.Timeline Mechatronics (M2) PlantManesarPurposeElectronic components incl. Body Control Modules for leading OEMs TimelineQ3 FY28 Greenfuel PlantManesarPurposeFerrule-less Tube & Fitting Manufacturing Facility for Maruti Suzuki Timeline Greenfuel PlantNashikPurposeFerrule-less Tube & Fitting and Receptacle Facility for Mahindra & Mahindra TimelineQ3FY27 Q3FY27Q4 FY27 Advanced PlasticsMechatronicsAlternate Fuels
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Fostering Partnerships, Propelling Growth. LATL: Upholding Excellence in Corporate Governance 19 Board of DirectorsPromoter Group Mr. Dhanesh Kumar JainChairmanOver 6 decades of experience in the automotive industry in management, operations & administrative roles. He has held various industry positions. Mr. Deepak JainVice ChairmanWith over 30 years of experience, leading the Group and advocating for industry advancement holding significant executive and advisory positions across industry bodies and supplier councils.He holds a business graduate degree from the Illinois Institute of Technology, USA with specialization in operations management & international business. Mr. Anmol JainManaging DirectorWith over 25 years of experience in the automotive industry, he brings extensive expertise in operations management and supply chain. He has played a pivotal role in shaping the organisation’sstrategic direction, driving its vision and business philosophy and contributing to key industry positions.He holds a bachelor’s degree in Business Administration in Finance and Supply Chain Management (double major) from Michigan State University, USA.Independent Directors Mr. Parag Chandulal ShahIndependent DirectorBS in Computer Engineering from Illinois and General Management Program from HBS having over 25 years of experience, including various Leadership positions at Mahindra Group. Mr. Arun Kumar MalhotraIndependent DirectorB.E Mechanical & MBA from IIM, Kolkata having over 30 years of experience. Ms. Diviya ChananaIndependent DirectorGraduate & holds Diploma in Travel and Tourism having over 25 years of experience. Mr. A P GandhiIndependent DirectorMechanical Engineer, possesses over 5 decades of experience. Held top leadership positions in prestigious organizations.
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Fostering Partnerships, Propelling Growth. LATL: Visionary Leadership Team 20 Management Team Mr. Vikas MarwahChief Executive OfficerExperience: 30+ years Mr. Sunil KoparkarChief Executive Officer, IAC DivisionExperience: 30+ years Mr. Akshay KashyapManaging Director & CEO, Lumax GreenfuelExperience: 20+ years Mr. Sanjay MehtaDirector & Group CFOExperience: 30+ years Mr. Ankit ThakralChief Financial OfficerExperience: 15+ years Mr. Pankaj MahendruCompany SecretaryExperience: 15+ years
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Q2 & H1 FY27 Operational & Financial Performance
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Fostering Partnerships, Propelling Growth. LATL: Consolidated Q2 & H1 FY27 Highlights 22 Revenue •Q2FY27: INR 1,556Cr; YoY growth 35%; QoQ growth 14%•H1FY27: INR 2,919 Cr; YoY growth 34% Segments •Q2FY27 Advanced Plastics: INR 886 Cr; YoY growth 44%•Q2FY27 Structures & Control Systems: INR 258Cr; YoY growth 28%•Q2FY27 Alternate Fuels: INR 109 Cr; YoY growth 46%•Q2FY27 Aftermarket: INR 131Cr; YoY growth 11%•Q2FY27 Mechatronics: INR 93 Cr; YoY growth 36% Profitability •Q2FY27 EBITDA: INR 228 Cr; YoY growth 34%; margin 14.7%, stable YoY•Q2FY27 PBT: INR 154 Cr; YoY growth 48%; margin 9.9% (+90bps YoY)•Q2FY27 PAT: INR 117Cr; YoY growth 50%; margin 7.5% (+80bps YoY)•H1FY27 EBITDA: INR 434Cr; YoY growth 42%; margin 14.9% (+90bps YoY)•H1FY27 PAT: INR 215 Cr; YoY growth 64% Cash, Debt & Capex Q2FY27 revenue up 35%YoY to INR 1,556Cr; PAT up 50%YoY, with PAT margin at 7.5% (+80bps) •Free cash: INR 401 Cr (14% of revenue)•Long-term gross debt: INR 442 Cr (debt-equity 0.26x)•Net debt: INR 41 Cr (debt-equity 0.03x)•H1FY27 capex: INR 60 Cr
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Fostering Partnerships, Propelling Growth. LATL: Q2 & H1 FY27 –Financial Snapshot 23 Revenue (INR Cr) 1,156.41,555.52,182.72,919.1 Q2FY26Q2FY27H1FY26H1FY27 +35% +34% EBITDA (INR Cr) 170.1228.2305.9433.6 Q2FY26Q2FY27H1FY26H1FY27 +34% +42% PAT before MI (INR Cr) 77.6116.7131.6215.3 Q2FY26Q2FY27H1FY26H1FY27 +50% +64% EBITDA Margin (%) 14.7%14.7%14.0%14.9% Q2FY26Q2FY27H1FY26H1FY27 - +90bps PAT Margin before MI (%) 6.7%7.5%6.0%7.4% Q2FY26Q2FY27H1FY26H1FY27 +80bps +140bps MI = minority interest. Growth is year-on-year; margin change in basis points (bps).
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Fostering Partnerships, Propelling Growth. LATL: Q2FY27 Growth Led by Advanced Plastics and Alternate Fuels 24 Advanced PlasticsINR 886 Cr57% of revenueKey customersIAC: Mahindra & Mahindra, Maruti SuzukiCornaglia: Tata Motors, Toyota, Volkswagen, Mahindra & Mahindra, MGLighting: Bajaj AutoMoulded Parts: HMSIQuarterly trend (INR Cr) 614672755769886 Q2FY26Q3FY26Q4FY26Q1FY27Q2FY27 Structures & Control SystemsINR 258 Cr17% of revenueKey customersLumax Mannoh: Maruti Suzuki, Mahindra & Mahindra, Toyota, Tata Motors, Honda Cars, Daimler IndiaMetallics: Bajaj Auto Quarterly trend (INR Cr) 201206228218258 Q2FY26Q3FY26Q4FY26Q1FY27Q2FY27 MechatronicsINR 93 Cr6% of revenueKey customersAlps Alpine: Maruti Suzuki, HMSIYokowo: Mahindra & Mahindra, Honda Cars, ToyotaIturan: Daimler IndiaFAE: Royal Enfield, Mahindra & MahindraQuarterly trend (INR Cr) 6976848493 Q2FY26Q3FY26Q4FY26Q1FY27Q2FY27 AftermarketINR 131 Cr8% of revenueKey customersPan-India network of channel partners, dealers, retailers and mechanics Quarterly trend (INR Cr) 118128135104131 Q2FY26Q3FY26Q4FY26Q1FY27Q2FY27 Alternate FuelsINR 109 Cr7% of revenueKey customersGreenfuel: Maruti Suzuki, Tata Motors, SML, Volvo Eicher Quarterly trend (INR Cr) 75100113111109 Q2FY26Q3FY26Q4FY26Q1FY27Q2FY27 +44% +28% +36% +11% +46%
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Fostering Partnerships, Propelling Growth. LATL: Powered by Diversification Across Products, Customers and Vehicle Segments 25 Product-wise Revenue, H1FY27 57%16% 8%8%6%5% Advanced PlasticsStructures & Control SystemsAftermarketAlternate FuelsMechatronicsOthers Customer-wise Revenue, H1FY27 30% 16%10%8%6%6%5% 19% Mahindra & MahindraBajaj AutoMaruti SuzukiAftermarketLIL Tata MotorsHMSIOthers (Misc) Vehicle Segment-wise Revenue, H1FY27 53%27% 8%7%5% PV2/3WAftermarketCVOthers
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Fostering Partnerships, Propelling Growth. 834 154 512 379 Advance PlasticsStructure s & ControlSystemsMechatronicsAlternate Fuels LATL: Order Book Pipeline – INR 1,879 Cr Executing in Stages Through FY29Order book mix by segmentPhased execution (INR Cr) INR 1,879 CrTotal Order Book ~85%of the order book is new business INR 258 Cr INR 1,117 Cr INR 504 Cr FY27FY28FY29Share of order book executed each year 14% 59% 27% The order book is set to progress in stages, achieving full completion by FY29 26 FY27FY28 FY29
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Fostering Partnerships, Propelling Growth. LATL: Order Book Mix – 29% from Alternate Powertrains,22% from New TechnologiesOrder book mix by powertrain (INR Cr)Order book mix by technology (INR Cr) 27 1,33471% 37920% 1669% ICECNGEV 1,45978% 42022% Existing technologiesNew technologies INR 1,879 CrTotal Order BookINR 1,879 CrTotal Order Book EV and CNG account for 29% of the order book; new technologies account for 22%
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Fostering Partnerships, Propelling Growth. LATL: Consolidated Profit & Loss Statement Particulars (INR Cr)Q2FY27Q2FY26Y-o-YQ1FY27Q-o-QH1FY27H1FY26Y-o-YRevenue 1,555.51,156.435%1,363.614%2,919.12,182.734%Raw Material Consumption1,021.0734.4872.81,893.91,397.8Employee Expenses191.4150.7178.6370.0289.8Other Expenses133.6116.8122.0255.6215.7Other Income18.715.6 15.2 33.926.5EBITDA 228.2170.134%205.411%433.6305.942%EBITDA Margin %14.7%14.7%-4 bps15.1%-39 bps14.9%14.0%+84 bpsDepreciation49.741.3 48.6 98.379.7Finance Cost24.224.5 24.7 49.047.6Profit Before Tax154.2104.348%132.017%286.3178.660%Tax 37.626.8 33.4 71.047.0Profit After Tax (Before Minority Interest)116.777.650%98.618%215.3131.664%PAT Margin % (Before Minority Interest)7.5%6.7%+79 bps7.2%+27 bps7.4%6.0%+135 bpsEPS (In INR)15.489.8112.7128.1915.89 28
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Fostering Partnerships, Propelling Growth. LATL: Balance SheetASSETS (INR Cr)Sep-26Mar-26Non-current assetsProperty, Plant and Equipment805.8801.6Right-of-use assets 219.6219.0Capital work in progress144.465.4Intangible assets274.1297.0Investment properties21.221.7Goodwill 176.8176.8Financial AssetsInvestments 357.9312.6Loans 2.61.4Other financial assets40.129.6Deferred tax assets (net)4.30.1Non-current tax assets (net)13.313.0Other non-current assets44.327.1Total non-current assets (A)2,104.41,965.2Current assetsInventories 459.4412.0Financial assetsInvestments 265.8252.1Trade receivables1,048.41,014.9Cash and cash equivalents82.281.9Other bank balances11.411.7Loans 2.31.8Other financial assets55.943.2Other current assets206.2159.5Total current assets (B)2,131.61,977.1Assets held for sale (C)2.24.8Total Assets (A+B+C)4,238.13,947.0 EQUITY AND LIABILITIESSep-26Mar-26Equity share capital13.613.6Other equity 1,390.91,196.6Equity attributable to equity holders of the parent (A)1,404.61,210.2Non-controlling interest (B)286.1265.8Total Equity (A+B)1,690.71,476.0LIABILITIESNon-current liabilitiesFinancial liabilitiesBorrowings 331.2375.7Lease liability 173.6168.1Provisions 4.03.8Deferred tax liabilities (net)47.840.9Provisions - employee benefit obligations9.88.0Total non-current liabilities (C)566.3596.4Current liabilitiesFinancial liabilitiesBorrowings 574.4625.0Lease liability 61.162.3Trade payables983.9859.9Other financial liabilities104.095.2Provisions - employee benefit obligations59.054.9Current tax liabilities (net)17.87.1Other current liabilities180.9170.1Total current liabilities (D)1,981.21,874.6Total Equity and Liabilities (A+B+C+D)4,238.13,947.029
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Fostering Partnerships, Propelling Growth. LATL: Cashflow Statement Particulars (INR Cr)H1FY27H1FY26PBT 286.3178.6Operating profit before working capital changes402.1283.5Cash generated from operations388.3377.0Direct taxes paid (net of refund)-65.3-55.3Net Cash from Operating Activities322.9321.7Net Cash from Investing Activities-116.2-174.1Net Cash from Financing Activities-206.4-136.9Net Change in cash and cash equivalents0.310.8Opening Cash Balance81.972.2Closing Cash Balance82.283.0 30
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SustainabilityESG & CSR Initiatives
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Fostering Partnerships, Propelling Growth. ESG ROADMAP FY25 – FY30 RE = share of renewable energy (%) FY24-25 RE 40ü100% ETP & STP in all plantsüDiversity ratio 10%üISO 14001 & ISO 45001 (EHS) in all major plantsüISO 27001 – R&D FY25-26 RE 70üAdvanced equipment to reduce fresh-water intakeü5% reduction of CO₂ (supply chain partners)üDiversity ratio 15%üISO 50001:2018 (EnMS) – model plantsüISO 27001 – model plants FY26-27 RE 90ü100% rain-water harvesting set-upü10% reduction of CO₂ (supply chain partners)üDiversity ratio 20%üISO 50001:2018 (EnMS) in all major plantsüISO 27001 in all plants & offices FY27-28 RE 100ü25% reduction of CO₂ (supply chain partners) FY28-29Supply-chain decarbonisationü30% reduction of CO₂ (supply chain partners) FY29-30Supply-chain decarbonisationü40% reduction of CO₂ (supply chain partners)üDiversity ratio 25%üInclusivity 5% PLANT CARBON NEUTRALITY STRATEGYGENDER DIVERSITY & INCLUSIVITY 1Renewable energyPromote use of renewable energy towards the 2028 net-zero challenge 2Daily KaizenMotivate teams to increase daily Kaizen 3Energy efficiencyReduce energy consumption through energy saving Women in workforce20%+Today30%In the next few yearsUpskilling women and promoting gender diversity 80Total Inclusivity Number 32 Our ESG Roadmap
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Fostering Partnerships, Propelling Growth. Driving Social Progress, One Initiative at a Time 33 LumaxCharitableFoundation,the CSR arm of Lumax Group, focuses on two core Sustainable Development Goals (SDGs): Quality Education and Good Health & Well-Being. These priorities also create pathways to three interconnected SDGs, Gender Equality, through inclusive access to education and opportunities; Clean Water and Sanitation, through improved health and hygiene; and Decent Work and Economic Growth, through education and skill development that enhance employability. Through this integrated approach, the Foundation reaches underserved communities across five Indian states. Health interventions823Eye care and cataract surgeries 651Cancer awareness, screening & treatment interventions 35Children supported with juvenile diabetes management 3,500Sanitary napkin production unit for women SHGs, for captive consumption 17,117Mobile Health Unit –primary health care to communities
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Fostering Partnerships, Propelling Growth. Operating across 33 government and low-income private schools in five states, near Lumax plant locations, the Foundation provides holistic educational support ‘beyond classroom learning’. 33Schools across 5 states, near Lumax plants 8,000+Students received Life Skills Education 7,200Students benefited from Career Counselling & Guidance 500Primary students engaged in Life Skills & STEAM Education 568Scholarships awarded to support higher education 3,500Students reached with personal & menstrual hygiene awareness Transforming lives through education and health interventionsEmpowering communities — one student, one patient, one future at a time 34 CSR Initiatives
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RecognitionAwards & Accolades
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Fostering Partnerships, Propelling Growth. Celebrating Milestones with Awards & Accolades 36 Recognised by our OEM customersIndustry honours MahindraSupplier Excellence Award – Execution ExcellenceMahindra Supplier Excellence Awards 2026 Maruti SuzukiLocalisation of Design & Development CapabilityLumax Alps Alpine · Maruti Suzuki Vendor Conference 2025-26 Maruti SuzukiPart Development AwardIAC Division · Maruti Suzuki Vendor Conference 2025-26 ToyotaZero PPM Award – Zero Defect Supplies, FY 2025-26Lumax Yokowo Technologies · Toyota Motor Corporation Honda (HMSI)Excellence in Quality Management – PlasticsLATL Bengaluru Plant · Honda Motorcycle & Scooter India Supplier Convention 2026 CNBC-TV18Manufacturing SME of the Year – Industrial ExcellenceLumax Mannoh Allied Technologies · SME Champions Awards 2025, Season 2 Manufacturing TodayHall of FameMr. Vikas Marwah, CEO · Manufacturing Today Annual Summit Bajaj AutoPlatinum Award – Quality ConsistencyLATL Metallics & Lighting Chakan Plants October 2026
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Fostering Partnerships, Propelling Growth. 37 Celebrating Milestones with Awards & AccoladesQuality, process & sustainability excellence JIPM · TPMTPM Excellence AwardLATL Metallics Division, Kuruli · March 2026 BAVA 2026Super Platinum Quality Award & TPM Excellence AwardLATL SambhajinagarG-53 Plant (Quality) and KuruliPlant (TPM) · Bajaj Auto Vendor Association (BAVA) Conference 2026 ICQCC 2025 · TaiwanGold Award at the 50th ICQCCLCAT · Lumax Group recognised at ICQCC for 7 consecutive years Sustainability & workplace GreenProGreenProEcolabel CertificationFour products each from the LATL Chakan and Pantnagarplants Marksmen DailyA Most Preferred Workplace 2026-27Lumax Group · Marksmen Daily ET Now MachinistSuper Shopfloor Award 2026 –ESG WinnerIAC Division, Nashik · Medium category
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Fostering Partnerships, Propelling Growth. 2WTwo-Wheeler2/3WTwo-and Three-Wheelers4WFour-WheelerADASAdvanced Driver Assistance SystemsADBAdaptive Driving BeamAFSAdaptive Front-lighting SystemAMTAutomated Manual TransmissionATAutomatic TransmissionBCMBody Control ModulebpsBasis Points (1 bps = 0.01%)BRIDGEBold Roadmap Integrating Diverse Growth EnginesCACCharge Air CoolerCAGRCompound Annual Growth RateCNGCompressed Natural GasCrCrore (10 million)CSRCorporate Social ResponsibilityCVCommercial Vehicle DCTDual-Clutch TransmissioneEstimate (e.g. FY31e)EBITDAEarnings Before Interest, Tax, Depreciation and AmortisationECUElectronic Control UnitEHSEnvironment, Health & SafetyEnMSEnergy Management SystemEPSEarnings Per ShareESGEnvironmental, Social and GovernanceETPEffluent Treatment PlantEVElectric VehicleFYFinancial Year ending March 31 (e.g. FY27 = April 2026–March 2027)H1First Half (April–September)HMIHuman–Machine InterfaceHMSIHonda Motorcycle & Scooter IndiaIACIAC division (Intelligent Ambient Comfort) of LATLICEInternal Combustion EngineICQCCInternational Convention on Quality Control Circles INRIndian RupeeIPRIntellectual Property RightsIVIIn-Vehicle InfotainmentJIPMJapan Institute of Plant MaintenanceJVJoint VentureLATLLumax Auto Technologies LimitedLCATLumax Cornaglia Auto TechnologiesLILLumax Industries LimitedMIMinority InterestMTManual TransmissionNCRNational Capital RegionOEMOriginal Equipment ManufacturerPATProfit After TaxPBTProfit Before TaxPCB SMTPrinted Circuit Board Surface-Mount TechnologyPPMParts Per MillionPVPassenger Vehicle Q2Second Quarter (July–September)QoQQuarter-on-QuarterRERenewable EnergyROCEReturn on Capital EmployedSDGUN Sustainable Development GoalSDVSoftware-Defined VehicleSHGSelf-Help GroupSHIFTSmart Hub for Innovation & Future TrendsSMESmall and Medium EnterpriseSMLSML Mahindra Limited (formerly SML Isuzu)STEAMScience, Technology, Engineering, Arts and MathematicsSTPSewage Treatment PlantTCUTelematics Control UnitTPMTotal Productive MaintenanceTPSThrottle Position SensorYoYYear-on-Year Glossary 38
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Fostering Partnerships, Propelling Growth. Thank You For further information, please contact: Lumax Auto Technologies LimitedCIN: L31909DL1981PLC349793Ms. Surabhi Chandnasurabhi.chandna@lumaxmail.com www.lumaxworld.in/lumaxautotech Strategic Growth Advisors Pvt. LimitedCIN: U74140MH2010PTC204285Mr. Sagar Shroff / Mr. Ayush Hariasagar.shroff@sgapl.net / ayush.haria@sgapl.netTel: +91 98205 19303 / + 91 98204 62966www.sgapl.net Company Investor Relations 39