भारत की पकड़ में अमरीकी कंपनी आ गयी | Lumax Group to acquire USA's IAC India business
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Lumax DK Jain Group (Lumax), a leading Indian auto component manufacturer, is in an advanced stage of acquiring the local business of International Automotive Components (IAC), multiple sources aware of the matter told ETAuto.“The company has been engaged in due diligence for quite some time and has signed an early document for the deal,” the first person aware of the matter said. Lumax DK Jain Group having a turnover of about INR 3400 crore is a diversified auto parts manufacturer with two listed entities, Lumax Industries, and Lumax Auto Technologies. ETAuto sent an email to Lumax, but the company chose not to respond. Hence more details of the deal are yet to be known. IAC India is part of the International Automotive Components Group North America LLC (IAC Group). It has been associated with M&M since its inception. Despite the company trying to diversify its revenue by increasing its customer base, it has remained concentrated on M&M. In FY22, the share of the revenue from M&M increased to 54% from 44% on account of various launches of M&M. Further, the company generates most of its revenue from the passenger vehicles (about 87%) with only a small portion from the commercial vehicle segment. Lumax Group already has nine partnerships.Hence, the company’s performance is highly dependent on the cyclicality inherent in the PV segment. The company’s operating profitability margin has been in the range of 7.8%-10.6% over the last five years through FY22 which is moderate and volatile. In FY21, IAC’s operating margin dropped to 7.89% from 10.52% in FY20 majorly on account of low economies of scale particularly due to COVID-19 operational restrictions."Lumax has been engaged in due diligence for quite some time and has signed an early document for the deal,” a source aware of the matter told ETAuto~ IAC India houses a technical centre in Pune with 60 Computer Aided Design (CAD) stations, over 150 Engineers, Product Design, Computer Aided Engineering (CAE), Dimensional Management, and Program Management. It caters to all the tool development requirements from its customers.Lumax is a leading manufacturer of automotive lighting, telematics, and other automotive parts having a presence in 31 locations. It recently opened a tech centre in the Czech Republic by acquiring Damberty Real,
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