Lux Industries Ltd - 539542 - Closure of Trading Window
Notice for Closure of Trading Window30-09-2019
30-09-2019
Lux Industries Ltd - 539542 - Minutes Of The 24Th Annual General Meeting Of The Company
Minutes of the 24th Annual General Meeting of the Company12-09-2019
Lux Industries Ltd - 539542 - Redemption Of Commercial Paper
Redemption of Commercial Paper12-09-2019
Lux Industries Ltd - 539542 - Disclosure of Voting results of AGM (Regulation 44(3) of SEBI (LODR) Regulations, 2015)
Lux Industries Ltd has informed BSE regarding the details of Voting results of AGM, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. Kindly Click here06-09-2019
Lux Industries Ltd - 539542 - Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
Disclosure of Voting Result of 24th Annual General Meeting of the Company in terms of Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201506-09-2019
Is Lux Industries' weak Q1 only a brief interruption in performance?
by Suhani Adilabadkar RBI says the economic slowdown may be cyclical and not structural. As per economists however, it’s both. Everything is impacted from auto to real estate to FMCG, and even though one could argue that everyone needs underwear, even the innerwear sector has seen a slowdown, with both urban and rural consumption engines sputtering. Page Industries, the bell-weather of the Indian inner wear sector is down 46%, Rupa declined 52% and Lux Industries and Dollar have both fallen 38% over the past one year. Quick Takes: Lux Industries (which is in 12 stock screeners) has more than 100 products across 15 brands with 5,000 SKUs under various brands and sub-brands. The company is also targeting the premium market with brands like Virat Kohli's One8, for which it has bought manufacturing and marketing rights. The Board of Directors has approved the merger of J. M. Hosiery and Ebell Fashions, with Lux Industries. The company aims to increase exports from Rs. 136 cr in FY19 to Rs. 175 cr by the end of FY2020. The company launched first of its kind, ‘scented vests’ under its flagship brand Lux Cozi in April this year. Inner Strengths for Lux Started in 1995, Lux Industries is one of the largest players in the hosiery business with 20% market share of organised industry. The Company has more than 100 products across 15 brands with 5,000 SKUs under various brands and sub-brands. Lux Industries has six manufacturing facilities with a cumulative capacity of 2,000 lakh garment pieces a year. Lux Cozi, Lux Classic, Lux Karishma, GenX, ONN, One8 and Lyra are some of the well-known brands available in 450,000 retail points spread across India. Lux has a presence across the globe with exports to 47 countries. Largest innerwear company in India in volume terms with lowest manufacturing cost, Lux Industries invests about 8% of its revenues in brand promotion annually. Shrinkage in Q1 margins Lux industries reported flat revenues for June quarter FY20 at Rs. 262 crore. Commenting on the Q1 FY20 results, Ashok KumarTodi, Chairman, Lux Industries said, "Overall, the economy is facing lheadwinds with tight liquidity and reduced consumption. We have seen businesses across segments fighting to maintain their market share." Todi notes, "There has been a lot of disruption among rural households that are struggling because of drought situation in many villages along with delayed monsoons”. The operating profit declined 4% and stood at Rs. 36 crore against Rs. 37.5 crore corresponding quarter previous year. Operating margin at 13.7% declined 57 bps compared to 14.3% same period previous year. Net Profit or PAT came higher, 7% YoY and stood at Rs. 20 cr against Rs. 18.80 in Q1 FY19. The Board of Directors of Lux Industries has approved the merger of J. M. Hosiery and Ebell Fashions, both promoter companies which own GenX and Lyra brands respectively with Lux Industries. Ebell Fashions revenues have growth by 7% YoY at Rs. 64 cr whereas J. M. Hosiery revenues were flat at Rs. 83 cr in Q1 FY20. The merger is awaiting regulatory approvals and is expected to be finalized within the current financial year. No longer a small player The size of the innerwear sector is about Rs. 28,000 crore and is expected to treble in the next 8-10 years. Largely unorganised, only roughly two-fifths of the innerwear sector belongs to organized players. The sector itself is evolving with innerwear no more a highly price sensitive necessity, but moving towards premiumization with strong fashion quotient especially with the entry of global brands. Women’s innerwear is the dominant force accounting for about 64% of innerwear market with a market size of about Rs. 18000 cr whereas Men’s innerwear is roughly Rs. 10,000 cr. Coming to Lux Industries, the revenue mix is divided into Economy segment which contributes 34%, Mid-premium segment 45%, and the premium segment constituted roughly 21%. Catering to both Men and Women needs, the company has product price range of Rs.38-1350 with Lux Venus and Lux Karishma as it’s major economy brands, Lux Cozi, Lux Inferno and Lux Cozi Big shot in mid premium segment and the premium segment boosting One8 and ONN. Lux Industries is the first Indian company to extend its innerwear product portfolio to outerwear and other related products such as thermal wear, leggings, lounge wear, t-shirts, active wear and sports-wear. Lux Industries has differentiated itself through strong branding of its undifferentiated products commanding low brand loyalty and has thus been able to report strong consistent growth over the years. The company has adopted a strategy of strong brand endorsement by Bollywood celebrities over the years with promotional expenditure accounting for about 7-8% of its annual revenues enabling it to stave off high competitive intensity of innerwear market and grow its bottom-line which has moved at a CAGR of 26% over the past five years. Aiming for growth despite gloom In spite of poor market conditions, Lux Industries is moving ahead with its growth plan. The company launched first of its kind, ‘scented vests’ under its flagship brand Lux Cozi in April this year to address a long-standing need to counter the effect of sweat and body odour with a pre-scented product. In this respect, Mr Todi said, “There was phenomenal performance by scented vests with 20% volume increase which helped to gather more market share from our peers”. Moving from mid-premium to premium segment, the company bought the manufacturing and marketing rights of Virat Kohli’s brand One8 which has been recently launched, with a focus to enhance men’s premium innerwear offerings. Lux Industries expects a top-line of about 15-20 crore in the first year of operations. The other premium product, ONN, is already in top gear, growing at a rate of 30% every year. On the whole, the premium segment of the company which contributed 4% in FY13 has grown to 10% in FY19, giving the highest EBDITA level margin of 18% and is expected to grow at a CAGR of 30% in the next 2-3 years. Apart from premium products, Exports are growing at a faster rate than the economy segment enhancing the product mix and also leading to higher EBDITA margins. The company aims to increase exports from Rs. 136 cr in FY19 to Rs. 175 cr by the end of FY2020. To consolidate its position in the innerwear market, Lux Industries has announced a merger of other two promoter held companies, Ebell Fashions and J M Hosiery dealing with Women’s outer-wear and Men’s casual wear respectively. These according to the company, complementary and value accretive to Lux Industries’s core business. These are aggressive moves in a jittery market. And lastly the company aims to strengthen its EBDITA margins by 100 bps and with respect to growth guidance, Mr Todi added, “We should be exceeding market growth rate by 400-500 bps”. Even in these tough times, LUX Management believes in its own tagline, “Suno Toh Apne Dil Ki”.06-09-2019
Lux Industries Ltd - 539542 - Shareholder Meeting / Postal Ballot-Outcome of AGM
Summary of proceedings of 24th Annual General Meeting of the Company held on September 05, 201905-09-2019
Lux Industries Ltd - 539542 - Copy Of Publication Of Notice Of Annual General Meeting In The Newspaper
Copy of Publication of Notice of Annual General Meeting in the Newspaper.12-08-2019
Lux Industries Ltd - 539542 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper Publication of Unaudited Financial Results of the Company for the quarter ended 30th June, 2019.08-08-2019