LUXIND

Lux Industries Limited Investor Presentation –November 2019 Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Lux Industries 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 what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containingdetailedinformationabouttheCompany. 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 maynot 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 anyomissionfrom,thisPresentationisexpresslyexcluded. Certainmatters discussed inthisPresentationmaycontainstatementsregardingthe Company’s market opportunityandbusiness prospects that areindividuallyand 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 industryin India and world-wide, competition, the company’s abilityto 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 resultsexpressedinorimpliedbythisPresentation.TheCompanyassumesnoobligationtoupdateanyforward-lookinginformationcontainedinthisPresentation.Anyforward- lookingstatementsandprojectionsmadebythirdpartiesincludedinthisPresentationarenotadoptedbytheCompanyandtheCompanyisnotresponsibleforsuchthirdparty statementsandprojections. 2 Pioneering Commitment 1st ~8% Ranked of Annual 2,000 5,000+ innerwear revenue invested pieces sold every company in in Brand SKU’s minute Volume Terms Promotion Manufacturing 14-15% 100 1st More than Capacity of Ranked Market share in products across 2,000 lac innerwear Brand Organized Men’s 15 in Bengal Brands garments pieces a Innerwear Market year Enjoys a fill rate 1st 47 95% Ranked Number of of against 6 Manufacturing Indian exporter of countries products Industry Avg. of Facilities Innerwear are exported to 80% Fill Rate : Order Collected against Dispatches ; Note Market Share is as on March 2017 3 KARISHMA COTT’s E OZ GLO BIG SHOT Z WOOL O N COZI M N Market Opportunity C R N I TOUC S O E S A FV H ENUS N L GENX CI Exponential Opportunities…. Men Category Atthecuspofrapidgrowth;percapitainnerwearexpenditureexpectedtodoubletoRs.300 Rs. In Cr 6% CAGR InnerwearmarketofRs.27,931Crprojectedtogrowat10%CAGRtoRs.74,258Crby2027 17,894 Enhanced Manufacturing Automation (ultrasonic cutting systems) increasing efficiency and 8,500 globalcompetitiveness 4,300 2010 2015 2027E Emergenceofpurpose-specificinnerwear(sporty,casual,fashionable)WideningtheMarket Women Category Rs. In Cr WideningCustomerNeeds;increasingproductextensions 12% CAGR GrowingscopeofE-commerce 56,364 14,500 GrowingtractionfromAfrica,ArabcountriesandMiddleEast 7,000 2010 2015 2027E Source: Wazir Advisors report 5 ….poised to Grow Rising exports Technology 04 05 03 Demographic dividend 06 Innovation Middle class boom 07 02 08 Consumer purchasing power Brand consciousness 09 Growing population 01 10 Online retail Goods & Service Tax (GST) 6 KARISHMA COTT’s E OZ GLO BIG SHOT Z WOOL O N COZI M N Strong Foundation C R N I TOUC S O E S A FV H ENUS N L GENX CI We have created Brand Equity Range of more than 100 products under 15 well-established brands for men, women and children, ensuring relevance across ages, genders, geographies and seasons. Our Products are Bare Necessities Premiumization Milestone Achieved Diverse Product Portfolio  Lux Cozihelped sectorial  ONN Brand growing revenues at 30% transformation from un- organized to brand driven  Mass, Semi Premium &  Increase in Premium Brand Premium 01 03 contribution to revenue & Expanding 05  Enjoys the recall of being a Margins Pioneer in the launch &  Men’s innerwear to Men’s +156.4% styling of premium & Women’s outerwear products  Complementary Products 10.0%  Largest in the space of like socks & children’s wear 3.9% Semi-premium Indian Brands which contributes FY13 FY19 10% to revenue for FY17 Fresh Initiatives Widest Consumer  GLO Range underwear : Neon Range & Bright for increasing youth appeal  The Products range from Rs. 38 –Rs. 1,350  Manufacture leggings for 02 women 04  Over 5,000 SKU’s , among the largest innerwear  Invested in quality material ranges in the Industry, and contemporary designs thus graduating into a one- (European and American stop destination influences) 9 Our Products satisfy Customer needs Presence across Categories Presence across various Price Points Revenue : 21% Premium products to grow at a EBITDA Margin : CAGR of 30% in the next 2-3 years 15-18% Premium Revenue : 45% EBITDA Margin : 13-15% Med Premium Revenue : 34% EBITDA Margin : … From Semi Premium to Premium 8-10% Economy … From Men’s innerwear to Men’s and Women’s outerwear Lux Cozi is one of the Lux Cozi GLO is a Lux Cozi Bigshot is a ONN is emerging as one strongest and fastest Lux Venus is one of the durable player in the preferred consumer brand of the most promising growing men's innerwear largest vest brands in the economy to mid-brand in the boxer/ briefs mid-to-premium men’s brands (economy and mid- economy category segment segment innerwear brands segment) 10 State of the Art Manufacturing Facilities ‘’Manufactured 20 crore garment pieces a year which is one of the largest in the Indian innerwear sector ‘’ L One of Lowest Manufacturing Cost 1. Ludhiana 2. Agarpara  100%ofourproductsin-housewithzeroOutsourcing L  Invested extensively in manufacturing integration and scale with theobjectivetoreducecosts Largest Employer in Sector 4. Dankuni 3. B.T Road  Our pool of 1,496 employees (as on 31 March 2019) makes us one Fully of the largest employers in the sector Automated in- Critical Processes done in-house 5. Dhulagarh 6. Tiruppur house  Lux has concentrated on large, technology driven manufacturing Stitching units  Outsourcing processes such as stitching, we are able to keep our asset profile and employee base light Manufacturing Process State-of-the-art Equipment in creating Topnotch Products for consumers 1. YARN 3. PROCESSING 5. STICHING 350 Ahead of the trends Fully Automated in- 2. KNITTING 4. CUTTING 6. PACKAGING due to the expertise of house Stitching circular Knitting its in-house design units machines team 100% Knitting, Cutting done in-house Disclaimer : Map not to scale. All data, information and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness 11 We deliver Quality to generate Loyalty State-of-the-art Machines from Manufacture 100% of our products in-house with zero outsourcing Company invested in cutting machine from Morgan TechnicaSPA, Italy, and knitting machine from Mayer & Cie, Germany, and United TexmacPte Ltd Singapore Up-gradation and replacement of old machinesis done as and when required in order to maintain high quality of output To keep creating new benchmarks for quality and comfort, the two fundamentals that lay the foundation of our company and take it to the epitome of success. MORE THAN PRODUCTS; A QUALITY ASSURANCE OF THE BEST MANUFACTURING AND QUALITY STANDARDS 12 We have right distribution setup to Support Growth Merchandise Strength  Core strength lies in the goodwill that we enjoy among distributors, dealers and retailers rather than machines and products 950+ 9 Capitalizing Opportunity Distributors 160 Exclusive Brand  First Indian innerwear company to organize distributor and owner conferences within and outside India Exclusive Distributors Outlets with over 35 years of Relationship Amongst the few Large Format companies in Innerwear Sector to have presence Stores through EBOs “ There is less than 1% attrition among distributors ” Enable to showcase entire product range and portfolio “ Available from Distributors ,Retailers to small clusters in India ” under a single roof LUX is available where customers are… We are led by Experienced Leadership Mr. Ashok Kumar Todi Mr. Pradip Kumar Todi Mr. Saket Todi Mr. Udit Todi Chairman Managing Director President - Marketing President - Strategy  His forte lies in Marketing of the  Presently looking after the Product  SonofShriAshokKumarTodi,aged30years  Son of Shri Pradip Kumar Todi, aged 30 products and formulating various DevelopmentandProduction years policies for Growth & Expansion of the  Has done his post graduation in Brand businessonpanIndiabasis  He is Master of Science in Finance from  His forte is in developing new patterns, Management and has eminent knowledge in The London School of Economics and yarncombinations,knittingtechnologies marketing PoliticalScience(LSE)  He has rejuvenated with exploring schemes for distributors, retailers and  He has helped the Company to introduce  His contribution towards strengthening the  Has been associated with the Company evenforconsumers newproductswithnewstylesfromtimeto premiumisationofbrand“Lux”issignificant since2014andhas expertise inthe fieldof time finance and his proficiency in the  Has also been associated with various management of marketing area of the  Has been associated with the Company since philanthropic organizations of the Companyisremarkable  He has immense acquaintance in technical 2014 with his in-depth knowledge in country know-howinhosieryindustry marketing which has helped the Company to achieve greater success and increase profitability  His contribution in decreasing production costs helped the Company to enhance profits 14 We are supported by Strong Management Team Mr. Ajay Patodia - Chief Financial Officer Mr. Sanjay Mittal - Vice President (Sales) He is qualified as FCA, FICWA, DISA (ICAI), SAP (FI), and IFRS(C). He has He heads the Sales function and plays an important role in formulating the expertise in the field of finance along with high command in the area of SalesStrategy.HeisassociatedwiththeCompanysince1996 taxation.HeisassociatedwiththeCompanysince2005 Mr. Narendra Panjwani - Head Of Quality Control Mr. Bibekananda Maity - IT Head He has many years of experience in hosiery industry, as he had worked with He has done post graduation in MBA & MCA and has more than 22 years of MaxwellIndustriesLimitedfor21years.HehasdoneBachelorofScience.Heis experience in IT function of manufacturing sector. He is associated with the associatedwiththeCompanysince2013 Companysince2015 Mrs. Smita Mishra - Company Secretary & Compliance Officer Mr. Manoj Ghiya - Production Manager She is an Associate Member of The Institute of Company Secretaries of India (ICSI). She ensures efficient administration of the company with regard to He formulates the Strategy to run the manufacturing processes reliably and compliance of statutory and regulatory requirements. She is associated with efficiently.HeisassociatedwiththeCompanysince1989 theLuxgroupsince2009 Mr. Surendra Kumar Bajaj - Vice President (Marketing) Mr. R.K. Bhutoria - HR Manager He has worked with Khaitan Group of Companies before joining Lux and has He plays a major role formulating Strategy for Employee Engagement and an extensive experience in marketing. He is associated with the Company Empowerment.HeisassociatedwiththeCompanysince2004 since2014 15 We are honoured by Awards & Recognitions 2012-13 2013 2014 2014-15 Asia’s Most Promising Brands The Master Brand The Master Brand The Admired Brand of India 2016 2018 2015 Asia’s Greatest Brands Lux Cozi - Best Brand of the Year The World’s Greatest Brands 16 KARISHMA COTT’s E OZ GLO BIG SHOT Z WOOL O N COZI M N Market Penetration Strategy C R N I TOUC S O E S A FV H ENUS N L GENX CI Multi-Product & Multi-Brand Approach Quality at Low Costs Premiumization  100productsunder12brandsforagrowingfamily’sneeds y t i  Only 20% of the innerwear market accounted for by the premium and Semi- l a  5000SKUsacrossallmajorbrands u premiumSegments,offeringsignificantheadroomforPremiumisation Q  Productofferingsacrossages,genders,geographiesandseasons &  Lux’sONNisapremiumbrandgrowingat~30%everyyear t c  ExtensiveVerticalIntegrationwith100%manufacturingin-house  LuxGLOinthemid-premiumsegmentintroducedinJanuary2017 u d  Revenuesfrompremiumbrandsincreasedfrom3.9%inFY13to10.0%inFY19 o  Cost leadership through ability to manufacture the largest innerwear volumes r P atoneofthelowestcosts n  First Indian innerwear brand to extend its product portfolio from innerwear o i veststoouterwearcumrelatedproducts  Pan India Footprint – Strong Presence in Western & Central India with highest t a absolutesalesfromMadhyaPradesh,U.P.andUttarakhand r t e  Productofferingsacrossages,genders,geographiesandseasons n  Exports to 47 countries largely comprising the Middle East, Africa, Australia e P andEurope  Presentinhigh-growthsegmentsofactivewearandsportswear t e  SalesfocussedintropicalcountrieswithdemographicssimilartoIndiathereby k r a  Vests, briefs, trunks, boxers, thermal wear, Panties, camisoles, leggings, offeringahugepotential M loungewear,t-shirtsandsocks Share of Wallet Geographical Leadership 18 Technologically Advanced Expansion Integrated Unit across knitting, processing and cutting functions which will strengthening efficiency, productivity & profitability New state-of-the-art 12 lakh sq. ft (approx) manufacturing facility in Dankuni, West Bengal Rs.83 Cr investment across 11.48 acres on the outskirts of Kolkata 108 stitching / sewing machines from Singapore; 11 high-speed knitting machines from Germany; 60 sock knitting machines from China and 2 cutting machines from Singapore & Italy Has the capacity to produce 5 lakh units of finished products a day Phase-II expansion to double the production capacity over the next 3-4 years 19 The New Age Distribution: E - Commerce Company is creating an online presence through e-commerce websites, enhancing access and image Amazon Snap Deal Myntra Other Presence: • Keep It On • Jabong • Lime Road Paytm FlipKart Shopclues • Tata Cliq 20 Focus on Demographics with Huge Potential  First Indian innerwear brand to extend its product portfolio frominnerwear vests to outerwear cum related products Europe  Product offerings include Vests, briefs, trunks, boxers, Middle East thermal wear, Panties, camisoles, leggings, lounge wear, t- India shirts and socks across ages, genders and seasons South-East Asia Africa  Present in high-growth segments of active wear and sportswear Australia  Pan India Footprint – Strong Presence in Western & Central India with highest absolute sales from Madhya Pradesh, U.  For FY 2018-19, Export Contribution to Revenue was 11% P. and Uttarakhand  Increase in the number of countries exported to from 22 to 47 over the  Sales focussed in tropical countries with demographics past 5 years similar to India thereby offeringa huge potential Exports of Rs. 136 crores in FY19 to reach Rs. 175 crores in FY20 Disclaimer : Map not to scale. All data, information and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness 21 Sustained Brand Investments 12 Ye Andar Ki Baat Hai the first television Marketing Spend (Rs. In Cr) 1992 advertisement featuring Sunny Deol was Brands launched. 109 100+ 91 Products 76 Face of Lux Sunny Deol was signed as Lux Cozi’s 2001 brand ambassador 56 56 49 41 New look - Indian film icon Shah Rukh Khan was 2010 engagedas brand ambassador forONN FY13 FY14 FY15 FY16 FY17 FY18 FY19 Lux sponsored the KKR team in the IPL, now an international cricket event,  Invested Rs. 477 Cr in our brands across the 7 enhancing visibility and respect Varun Dhawan was signed as Lux Cozi brand yearsendingFY19 ambassador; Lux Glo, a sub brand of Lux Cozi Lux also sponsored 2017 was launched the capability to conceive, invest  Sustainedbrandinvestmentsat 8% of turnover the Bollywood and mature brands Awards Ceremony Amitabh Bachchanwassigned August2017  Lux’s profit from every rupee invested in brand TOIFA in Vancouver in 2016, spending increased from 5.74% in FY13 to strengthening its 7.47% in FY19 pan-India visibility 22 Capturing Market Share of the Unorganised Space GST to aid faster customer transition from the Unorganised Space to the Organised one… Have signed Mr. Amitabh Bachchan as the Brand Ambassador for our brand ‘Venus’. It is one of the largest innerwear brands in India. We have also signed him for our winter wear Endorsement of LUX products will brand ‘Inferno’ further strengthen the bond with the masses, give our users a greater Launched Mr. Bachchan as its ambassador through an extensive campaign from January senseofpurposeandhelpthebrands 2018 across a mix of media like Television, Online, Print and Out-of-Home media scale newer heights over the course ofnextfewyears Mr. Bachchan's iconic legacy as an actor, the brand appeal synergizes with his - Amitabh Bachchan personality which is liked by people of all demographics Have signed Mr. Varun Dhawan as the new brand ambassador for LUX Cozi. By signing Dhawan, LUX Cozi is repositioning itself within the young audience I am delighted to be the brand ambassador for LUX Cozi; their LUX Cozi is one of the most popular and the largest market share holder in the innerwear products stand for comfort economy to the mid-segment of men’s innerwear. and quality and I really liked the vibe of the ad campaign when I met with the The style and fashion sense makes him endearing to all sections of the audience creativeteam. cutting across age groups, especially the youth -Varun Dhawan 23 Product Innovation – India’s First Scented Vest INDIA looks good, feels good and smells good!! Landmark Product in the Men’s Innerwear Category Creating value based products keeping in mind the essential necessity and aspirational style quotient of India Unique feature of these vests is the fact that they retain their fragrance even after continued washes Lux Cozi has been synonymous with quality, comfort and durability. I am very excited to be a part of the launch of their next big product - lndia's first scented vests. With the onset of summer, this innovative productwillrevolutionisethevestgame -Varun Dhawan 24 Continuous Strategic Innovation Artimas Fashions CSE Consulting Synergies Private Limited LLP (Wholly Owned (License Owner of  Aim at providing superior product quality coupled Subsidiary of Lux One8) – Brand of Virat with comfortable feel that will grab instant attention Industries) Kohli of the youth LUX Industries will be manufacturing and marketing a  Fill the need-based vacuum that is created in the unique collection of socks, innerwear and sleepwear premium innerwear for One8, globally  Provide knowledge and expertise in manufacturing, designing, marketing and retail for the brand With One8, we aim to disrupt the premium innerwear segment through innovative product offerings. We feel extremely confident that the about our distribution and resource strength, coupled with the youth appeal of Virat Kohli will make One8 the mostpreferredbrand in the premium category 25 KARISHMA COTT’s E OZ GLO BIG SHOT Z WOOL O N COZI M N Financial Performance C R N I TOUC S O E S A FV H ENUS N L GENX CI Q2 FY20 Consolidated Financial Highlights* Revenue (Rs. In Cr) EBITDA (Rs. In Cr) Profit after Tax (Rs. In Cr) +28% +27% +95% 355 54 41 278 43 21 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 EBITDA Margins (%) PAT Margins (%) + 396 bps 15.3% 15.3% 11.4% 7.5% Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 * -Ind-AS Financials 27 H1 FY20 Consolidated Financial Highlights* Revenue (Rs. In Cr) EBITDA (Rs. In Cr) Profit after Tax (Rs. In Cr) +14% +12% +55% 618 90 59 542 80 38 H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 EBITDA Margins (%) PAT Margins (%) -20 bps +250 bps 14.7% 14.5% 9.6% 7.1% H1 FY19 H1 FY20 H1 FY19 H1 FY20 * -Ind-AS Financials 28 Consolidated Profit & Loss Account Consolidated Particulars (Rs. In Cr)* Q2 FY20 Q2 FY19 Y-o-Y H1 FY20 H1 FY19 Y-o-Y Total Income from Operations 354.9 278.2 28% 618.0 542.1 14% Raw Material Cost 168.5 118.9 268.1 220.9 Employee Expenses 12.5 11.1 24.0 21.3 Subcontracting / Jobbing expenses 69.7 69.2 138.0 135.2 Other Expenses 49.8 36.3 98.3 84.8 EBITDA 54.3 42.7 27% 89.6 79.8 12% EBITDA Margin % 15.3% 15.3% 14.5% 14.7% Depreciation 3.1 2.8 5.9 5.5 EBIT 51.2 39.9 28% 83.7 74.4 13% EBIT Margin % 14.4% 14.3% 13.5% 13.7% Finance Cost 3.2 6.1 6.6 13.2 Profit before Tax 48.0 33.8 42% 77.0 61.1 26% Tax 7.4 12.9 17.7 22.8 Profit After Tax 40.6 20.8 95% 59.4 38.4 55% PAT Margin % 11.4% 7.5% 9.6% 7.1% EPS 16.08 8.24 23.51 15.19 * Ind-AS Financials 29 Consolidated Balance Sheet Particulars (Rs. Crores)* Sep-19 Mar-19 Particulars (Rs. Crores)* Sep-19 Mar-19 Non Current assets Equity Property, Plant and Equipment 138.7 131.9 Equity Share capital 5.3 5.3 Capital work-in-progress 0.9 0.4 Other Equity 454.9 406.1 Intangible assets 0.2 0.4 Non Controlling Interest 0.0 0.1 Investment In JV 0.0 0.0 Total Equity 460.2 411.5 Financial Assets Financial liabilities (i) Investments 4.4 4.5 (iii) Loans - - (i) Borrowings 4.1 5.3 (ii) Other financial assets 4.0 3.3 (ii) Other Financial liabilities - - Deferred Tax Assets (net) - - Other non current Liability - - Other non-current assets 0.5 0.1 Deferred tax liabilities (Net) 5.2 7.6 Total Non Current Assets 148.7 140.6 Provisions 3.2 2.9 Current Assets Total Non Current Liabilities 12.5 15.8 Inventories 285.6 253.4 Financial Assets Financial liabilities Investments (i) Borrowings 196.0 172.4 (i) Trade receivables 361.7 366.6 (ii) Trade Payables 147.8 163.3 (ii) Cash and cash equivalents 4.4 1.9 (iii) Other financial liabilities 18.1 25.0 (iii) Other bank balances 0.1 0.1 Provisions 0.7 0.6 (iv) Loans 0.6 0.7 Other current liabilities 22.5 7.5 (v) Other financial assets 2.6 2.7 Current Tax Assets(Net) 5.1 0.0 Current tax liabilities (Net) 0.0 5.6 Other current assets 48.8 35.6 Total Current Liabilities 385.0 374.3 Total Current Assets 708.9 661.0 Total Equity and Liabilities 857.7 801.6 Total Assets 857.7 801.6 Working Capital^ has reduced from Rs. 515 crores in September 2018 to Rs. 498 crores in September 2019 * -Ind-AS Financials ^ (Trade Receivables + Inventories –Trade Payables) 30 Consolidated Cash Flow Statement Half year ended 30thSept, 2019 Half year ended 30thSept, 2018 Particulars (Rs. Crores)* (Apr’2019 –Sept’2019) (Apr’2018 –Sept’2018) Net Profit Before Tax 77.0 61.1 Adjustments for: Non-Cash Items / Other Investment or Financial Items 13.2 18.8 Operating profit before working capital changes 90.3 79.9 Changes in working capital 58.4 28.3 Cash generated from Operations 31.9 51.6 Direct taxes paid (net of refund) -30.8 -21.8 Net Cash from Operating Activities 1.1 29.8 Net Cash from Investing Activities -3.0 -8.0 Net Cash from Financing Activities 4.4 -22.7 Net Decrease in Cash and Cash equivalents 2.5 -0.8 Add: Cash & Cash equivalents at the beginning of the period 1.9 2.1 Cash & Cash equivalents at the end of the period 4.4 1.3 * -Ind-AS Financials 31 Lean Balance Sheet & Sustained Returns Return on Equity (RoE) Return on Capital Employed (RoCE) Net Debt to Equity (x) 26.0% 30.1% 1.1 24.3% 24.4% 24.5% 28.0% 1.0 22.9% 21.9% 0.4 0.4 FY17^# FY18 FY19 H1 FY20* FY17* FY18 FY19 H1 FY20* FY17^ FY18 FY19 H1 FY20* ^ Preference Share Capital of Rs. 56 crores considered as # Excl. Preference Share Capital of Rs. 56 crores Debt and is excl. from Shareholders’ Fund FY17, FY18 and FY19 numbers are as per Ind-AS Financials * H1 FY20 on TTM basis 32 Proforma Financials Revenue (Rs. In Cr) J. M. Hosiery* Ebell Fashions* Q2 FY20 Revenues (Rs. Crs.) Revenues (Rs. Crs.) +45% +24% +13% 79 516 82 79 82 66 70 355 Lux Industries JM Hosiery Ebell Fashions TOTAL Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Revenue (Rs. In Cr) J. M. Hosiery* Ebell Fashions* H1 FY20 Revenues (Rs. Crs.) Revenues (Rs. Crs.) +50% +11% +11% 143 926 165 143 165 149 130 618 Lux Industries JM Hosiery Ebell Fashions TOTAL H1 FY19 H1 FY20 H1 FY19 H1 FY20 • TheBoardofDirectorsofLuxIndustriesLimitedhaveapprovedtheschemeofmergerofJ.M.Hosiery&Co.LimitedandEbellFashionsPrivateLimitedwithLuxIndustriesLimited • Theschemeissubjecttorequisiteapprovalsoftheregulatoryauthorities * The Q2 & H1 FY20 Revenues for JM Hosiery and Ebell Fashions are subject to audit and may change 3333 Standalone Profit & Loss Account Standalone Particulars (Rs. In Cr)* Q2 FY20 Q2 FY19 Y-o-Y H1 FY20 H1 FY19 Y-o-Y Total Income from Operations 355.1 278.2 28% 617.8 542.1 14% Raw Material Cost 169.6 118.9 269.0 220.9 Employee Expenses 12.0 11.0 23.1 21.2 Subcontracting / Jobbing expenses 69.5 69.2 137.7 135.2 Other Expenses 48.4 35.7 95.9 83.9 EBITDA 55.7 43.3 29% 92.1 80.9 14% EBITDA Margin % 15.7% 15.6% 14.9% 14.9% Depreciation 3.1 2.8 5.8 5.5 EBIT 52.6 40.5 30% 86.2 75.4 14% EBIT Margin % 14.8% 14.6% 14.0% 13.9% Finance Cost 3.1 6.1 6.5 13.2 Profit before Tax 49.5 34.4 79.7 62.2 Tax 7.4 12.9 17.6 22.7 Profit After Tax 42.1 21.5 96% 62.0 39.4 57% PAT Margin % 11.8% 7.7% 10.0% 7.3% EPS 16.65 8.50 24.57 15.61 * Ind-AS Financials 34 Standalone Balance Sheet Particulars (Rs. Crores)* Sep-19 Mar-19 Particulars (Rs. Crores)* Sep-19 Mar-19 Non Current assets Equity Property, Plant and Equipment 137.3 131.8 Equity Share Capital 5.3 5.3 Capital work-in-progress 0.9 0.4 Other Equity 460.1 408.6 Intangible assets 0.2 0.4 Investment In JV Total Equity 465.4 413.9 Financial Assets Financial liabilities (i) Investments 4.5 4.6 (iii) Loans - - (i) Borrowings 4.1 5.3 (ii) Other financial assets 3.1 3.3 (ii) Other Financial liabilities - - Deferred Tax Assets (net) - - Other non current Liability - - Other non-current assets 0.5 0.1 Deferred tax liabilities (Net) 5.1 7.6 Total Non Current Assets 146.5 140.6 Provisions 3.2 2.9 Current Assets Total Non Current Liabilities 12.4 15.8 Inventories 278.8 251.0 Financial Assets Financial liabilities Investments (i) Borrowings 192.9 172.4 (i) Trade receivables 363.4 368.3 (ii) Trade Payables 143.4 162.7 (ii) Cash and cash equivalents 4.3 1.9 (iii) Other financial liabilities 17.8 25.0 (iii) Other bank balances 0.1 0.1 Provisions 0.7 0.6 (iv) Loans 6.0 3.9 Other current liabilities 22.3 7.4 (v) Other financial assets 2.6 2.6 Current Tax Assets(Net) 5.1 0.0 Current tax liabilities (Net) 0.0 5.6 Other current assets 47.9 35.1 Total Current Liabilities 377.0 373.7 Total Current Assets 708.3 662.8 Total Equity and Liabilities 854.8 803.4 Total Assets 854.8 803.4 Working Capital^ has reduced from Rs. 515 crores in September 2018 to Rs. 500 crores in September 2019 * -Ind-AS Financials ^ (Trade Receivables + Inventories –Trade Payables) 35 Standalone Cash Flow Statement Half year ended 30thSept, 2019 Half year ended 30thSept, 2018 Particulars (Rs. Crores)* (Apr’2019 –Sept’2019) (Apr’2018 –Sept’2018) Net Profit Before Tax 79.7 62.2 Adjustments for: Non-Cash Items / Other Investment or Financial Items 12.9 18.7 Operating profit before working capital changes 92.6 80.9 Changes in working capital -57.9 -27.4 Cash generated from Operations 34.7 53.5 Direct taxes paid (net of refund) -30.8 -21.8 Net Cash from Operating Activities 3.9 31.7 Net Cash from Investing Activities -2.9 -7.9 Net Cash from Financing Activities 1.4 -24.7 Net Decrease in Cash and Cash equivalents 2.4 -0.8 Add: Cash & Cash equivalents at the beginning of the period 1.9 2.1 Cash & Cash equivalents at the end of the period 4.3 1.3 * -Ind-AS Financials 36 Operating Performance Revenue (Rs. In Cr) PAT (Rs. In Cr) EBITDA & PAT Margins (%) EBITDA% PAT% 15.6% +9% 1,218 101 14.5% 1,079 +31% 78 12.6% 941 960 909 871 60 10.0% 51 8.9% 713 45 8.0% 8.3% 7.2% 31 6.3% 6.2% 20 5.0% 5.5% 3.6% 2.9% FY13 FY14 FY15 FY16 FY17 FY18* FY19 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY13 FY14 FY15 FY16 FY17 FY18 FY19 EBITDA (Rs. In Cr) Cash PAT (Rs. In Cr) EPS 189 113 40.1 +27% 156 +29% +31% 88 30.8 121 67 24.9 95 55 20.3 81 17.9 70 37 41 12.4 45 25 8.1 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY17, FY18 and FY19 numbers are as per Ind-AS Financials * The Revenues stated for FY18 have been restated as per IND AS 115 37 Vision 2020…. 1 To achieve Revenue of Rs. 1,500 crores; having 13% - 15% annual growth rate 2 Maintaining sustainable growth in EBITDA Margin of 100 to 150 basis points To constantly add new and innovative products for gaining significant market share 3 and to capture various other countries in the world to increase export contribution 38 Company : Investor Relations Advisors : KARISHMA COTT’s E OZ GLO BIG SHOT Z WOOL O N COZI M N C R N CIN: L17309WB1995PLC073053 CIN: U74140MH2010PTC204285 I TOUC S O E S A FV H ENUS Mr. Ajay Patodia Mr. Jigar Kavaiya +91 9920602034 N L ajay.patodia@luxinnerwear.com jigar.Kavaiya@sgapl.net GENX CI Mr. DevenDhruva +91 9833373300 deven.dhruva@sgapl.net www.luxinnerwear.com www.sgapl.net