You are here » Home » Companies » Company Overview » Lumax Auto Technologies Ltd

Lumax Auto Technologies Ltd.

BSE: 532796 Sector: Auto
NSE: LUMAXTECH ISIN Code: INE872H01019
BSE LIVE 15:42 | 18 Aug 513.60 -5.95
(-1.15%)
OPEN

515.40

HIGH

520.00

LOW

507.05

NSE 15:58 | 18 Aug 509.45 -17.00
(-3.23%)
OPEN

529.90

HIGH

529.90

LOW

505.15

OPEN 515.40
PREVIOUS CLOSE 519.55
VOLUME 914
52-Week high 584.00
52-Week low 375.60
P/E 98.77
Mkt Cap.(Rs cr) 700
Buy Price 0.00
Buy Qty 0.00
Sell Price 513.60
Sell Qty 8.00
OPEN 515.40
CLOSE 519.55
VOLUME 914
52-Week high 584.00
52-Week low 375.60
P/E 98.77
Mkt Cap.(Rs cr) 700
Buy Price 0.00
Buy Qty 0.00
Sell Price 513.60
Sell Qty 8.00

Lumax Auto Technologies Ltd. (LUMAXTECH) - Chairman Speech

Company chairman speech

DEAR SHAREHOLDERS

LET US BEGIN WITH A BRIEF

ANALYSIS OF THE YEAR THAT WENT BY. WE REPORTED A MARGINAL INCREASE IN TOPLINE ASINDUSTRY CONTINUED TO BE VOLATILE. HOWEVER WE REPORTED SOME KEY OPERATIONAL ACHIEVEMENTSWHICH WE WOULD EXPLAIN HEREWITH. THE QUESTION HERE IS - HOW DO WE MANAGE TO REPLICATESUSTAINABLE VALUE AGAIN IN THE COMING YEAR AND EVERY YEAR?

The answer lies in our philosophy of ‘building a great company’ - whichensures we are effectively taking care of stakeholders’ aspirations and achieving ourbusiness goals. Our endeavour of ‘building a great company’ is not an overnightideology. It includes sustained efforts over three decades which has helped us scale thepeaks of success that we stand on today. Over the years we have invested in technologythereby proactively aligning our products to the evolving industry trends. We havecontinuously reinforced our multi-decade industry leadership position with products oftomorrow for the customers of today. While the automotive components industry keptevolving the OEMs and aftermarket customers have always depended on one company for theirmultiple auto components requirements - Lumax Auto. During the year under review theIndian automobile industry registered growth in uneven fashion with one quarter reportinghealthy growth while other quarter showing mild growth. However overall the industryreported volatality over the previous year on account of low fuel prices competitiveinterest rates and higher disposable income levels. This cascaded into higher growth ofautomotive components with increased demand among the OEMs as well as the aftermarket.

Against this backdrop on consolidated basis your Company has been able to achieve 8%growth in the turnover reaching Rs.9051 Million as against Rs.8372 Million in theprevious year. The Profit after tax stood at Rs.342 Million for the current year ascompared to Rs.309 Million in the previous year (excluding exceptional item). Thecommendable performance in bottomline was a result of our unwavering focus on technologyproductivity and quality. We continued to solidify our market leadership in several keyproducts in India while strengthening our export presence as well.

We continue to be the leaders in aftermarket sales of our product portfolio with ourproducts symbolising trust and quality. We increased our dealer network and entered newgeographies which translated into higher revenues for the year under review. With moredealer engagement programmes and higher customer focus we expect to post healthy growthin our aftermarket revenues by 15% in the coming two years. In our more than three decadesof existence we are pleased to report that we continue to gain the investor confidence.This is reflected in our market capitalisation which stood at Rs.4284 Million as on March31 2016 and we crossed Rs.5000 Million of market capitalisation during the FY 2015-16 -rising by five times in last three decades. Going ahead we expect infrastructural reformsin the country to further take pace backed by the ‘Make in India’ initiative.With higher industrial and GDP growth automobile and automotive components industry isexpected to register healthy growth in our after-market sales.

This will only help the Company to further invest in its capabilities deliver qualityproducts and reinforce its market leadership. We continue to pursue targets and goalsthat would help create sustainable value for wide stakeholder community. We wish all ouremployees dealers partners and shareholders all the best as we continue our journeytowards building a great company together to deliver quality products to our customersand thereby strengthen the brand of Lumax. We look forward to a more successful yearahead. We want to thank you all for being with us and appreciate your continuous support.

Best Regards

D.K. Jain Anmol Jain Deepak Jain
Chairman Managing Director Director