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LUXIND 25082018165504 Lux BOLD NESSIS EVERYTHING LUX INDUSTRIES LTD | ANNUAL REPORT 2017-18 Lux Industries’ value-creation CONTENTS paradigm 38 10 things you need The to know about Lux Management’s Industries review, 2017-18 04 30 Chairman’s overview Boldness pays 26 10 Our report card 24 Our business model 34 Our integrated report 36 Our strategic mergers 40 Pushing the marketing and branding frontier 42 Balance sheet robustness 44 Our products 45 Corporate Social Responsibility 46 Board of Directors 47 Directors’ Report 50 Financial section 118 FORWARD LOOKING STATEMENT: In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our prospects and take investment decisions. This report and other statements - written and oral – that we periodically make contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in assumptions. The achievements of results are subject to risks, uncertainties, and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated, or projected. Readers should keep this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. BOLDNESS IS EVERYTHING When the world said, ‘You would do very good to match the overall sector’s growth rate,’ Lux reported growth that was more than the Indian hosiery textile sector’s growth for 2017-18. When the world said, ‘You would do well even if you delivered moderate growth,’ Lux surprised analysts and reported profitable growth – profit percentage being higher than revenue percentage - in 2017-18. BOLDNESS MEANS OUTPERFOUTPERF ORMINGORMING 2 | Lux Industries Ltd. 19% growth in Lux’s %33 growth in Lux’s revenues, 2017-18 PAT, 2017-18 OUTPERFOUTPERF ORMINGORMING Annual Report 2017-18 | 3 things you need to know about Lux Industries 01 Our vision To keep creating new benchmarks for quality and comfort, the two fundamentals that lay the foundation of our 05 company and take it to Our products the epitome of success. The Company has a wide bouquet of over 100 products across 14 03 brands that cater to the Our core values demands of consumers To ensure complete across ages, genders, satisfaction and utmost geographies and seasons. comfort for every Lux manufactures consumer by creating top products for men, women notch products. as well as children, across To constantly bring a range of prices. about change in our methods of production 04 through sustained Our legacy innovation and stringent Our founder Late Sri. quality control practices. Girdhari Lal Todi Creating new business established Biswanath along with customer Hosiery Mills in 1957, satisfaction is the which became Lux driving force behind Industries Limited in 02 our economic engine. 1995. The Company Our mission Lux Industries Limited is currently headed To be recognised as will strive to adhere and managed by the the best Indian hosiery to the highest of second generation of company globally and ethical standards and the founder family. Lux to drive the industry transparency in all its has headquartered in towards sustainable business dealings and Kolkata and has five growth and development. transaction. manufacturing facilities located across India. 4 | Lux Industries Ltd. 09 Our quality policy Lux was accredited with the ISO 9001:2015 certification in accordance with the ISO 9001 standards 10 06 Our awards and Our brands accreditations The Company has 2012-13: Asia’s Most numerous brands. A few Promising Brands of the prominent ones 2013: The Master Brand that enjoy customer 2014: The Master Brand recall, celebrity 2014-15: The ADMIRED endorsement, high 07 Brand of India quality and superior Our manufacturing 2015: The World’s price-value proposition facilities Greatest Brands are: We have five 2016: Asia’s Greatest manufacturing facilities Brands Lux Venus – 1993 08 in five locations across 2017 - 2018: Asia’s Lux Classic – 1995 Our listing India. Most Admired Brands & Lux Karishma – 1997 The Company’s shares Leaders. Lux Touch – 1998 Tirupur, Coimbatore, are listed and actively GenX – 2000 Tamil Nadu 1 traded on the National Lux Cozi – 2001 B.T. Road, Kolkata, Stock Exchange and Lux Cozi Big Shot – 2003 West Bengal 1 the Bombay Stock Lux Cott’s Wool – 2005 Dankuni, Kolkata, Exchange. As on 31st Lux Inferno – 2007 West Bengal 1 March 2018, Lux’s market Lux Mozze – 2009 Dhulagarh, Kolkata, capitalisation stood at ONN – 2010 West Bengal 1 H4,296.80 crore. Lyra – 2012 Ludhiana, Punjab 1 Lux Cozi GLO – 2016 One8 – 2018 (by Virat Kohli) Annual Report 2017-18 | 5 HOW WE STRENGTHENED OUR BUSINESS IN 2017-18 Proposed Merger of J. M. Hosiery & Co. Limited (JMHL) and Ebell Fashions Private Limited (EEPL) with Lux Industries Limited. Engaged Amitabh Bachchan as brand ambassador for the Lux Venus & Lux Inferno brands. Acquired manufacturing and marketing rights of Virat Kohli’s brand One8 which plans to make inroads into the men’s premium innerwear segment Lux launched a customer scheme ‘Buy any 2 Lux products and get a pair of socks free’. OUR MILESTONES 1957 1964 1992 1993 Late Sri Girdharilalji Todi The second generation of The first television Lux began to export set out to make everyday entrepreneurs assumed advertisement Ye Andar Ki products to the Middle innerwear comfort a management. Baat Hai featuring Sunny East, Africa and Europe. reality for Indians through Deol was launched. Biswanath Hosiery Mills. 2001 2003 2010 2013 Lux was incorporated as a The Lux IPO was Indian film icon Shah Lux became Comfort public limited company. launched and massively Rukh Khan was engaged Partner for Kings XI oversubscribed. as brand ambassador for Punjab and Pune Warriors ONN. India in the IPL. 2018 Lux conducted the Mr Amitabh Bachchan largest ever distributors’ was appointed Brand conference in the hosiery Ambassador for Lux Venus textiles industry attended and Lux Inferno by over 900 distributors. 6 | Lux Industries Ltd. Our global footprint: The Company exports its products to 47 countries across the world. Its global footprint is present in countries such as: Algeria Iran Iraq Kuwait Bahrain the UAE Saudi Arabia Yemen Djibouti Ethiopia Kenya Ghana Togo Benin Nigeria Cameroon Sri Lanka Malaysia Singapore Hong Kong Canada Congo Sudan Angola Thailand Melbourne Nepal Poland Panama Morocco Guinea Bissau Chad Gabon Uganda Zimbabwe Cote d’Ivoire Zambia Niger Mali Senegal Gambia Mauritania South Africa Burkina Faso Australia the US 1994 1995 1998 2000 Lux became the first Biswanath Hosiery was Lux widened its Sunny Deol was signed hosiery company to incorporated into Lux pan-India footprint and as Lux Cozi’s brand organise a conference Industries Limited, established its Delhi ambassador. for dealers to discuss making Lux the flagship office. business plans. company of the Group. 2014 2015 2016 2017 Lux Cozi became title The shares of Lux were One of Eastern India’s Varun Dhawan was signed sponsor at the Zee Cine listed on National Stock largest hosiery product as Lux Cozi’s brand Awards, the world’s Exchange (NSE) and manufacturing plant at ambassador biggest viewer’s choice Bombay Stock Exchange Dankuni, West Bengal Parineeti Chopra was awards, seen by over 700 (BSE). commenced operations. launched as the Brand million viewers across 168 Lux became a Ambassador for the Lyra countries. primary sponsor and leggings brand merchandising partner of Kolkata Knight Riders Lux Glo, a sub brand of Lux Cozi, was launched. Annual Report 2017-18 | 7 BOLD NESSAND THE LUX DNA It would have been It would be It would have been easy investing easy following easy staying with tried moderately in brands; established price points and tested products; we we invested an aggregate in India’s innerwear extended to contiguous H346 cr in our brands textiles sector; we products instead. across the five years created them instead. ending 2017-18 instead. It would have been It would have been It would have been safer building a large easy completely easy addressing the needs of brands portfolio, outsourcing products the mid-end market with mid- spreading our risks from vendors; we invested end products; we pioneered wider; we focused on a in a new world-class products that introduced relatively smaller brand integrated knitting and premium lifestyle products for portfolio instead. cutting facility instead. the mid-end consumer instead. 8 | Lux Industries Ltd. It would have been It would be It would have been easy remaining predictable for a easy spending anonymous when we successful innerwear moderately on brand entered the sector a few company to remain building; we invested decades ago; we emerged restricted to product around a sizeable as the first Indian promotion; we graduated 9.55% of our revenues innerwear company to to the sponsorship of in marketing and other advertise and promote prominent national sponsorships instead. innerwear products events instead. instead. It would have been It would have been It would have been predictable following the easy treating dealers
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