About Lava International Limited Pre-IPO/Unlisted shares
Lava International Limited was founded on 27 march, 2009 and registered at registrar of companies at Delhi. The company is engaged in trading and manufacturing of mobile phones, storage devices and other wireless telecommunication devices. The Company is a public limited company domiciled in India and is incorporated under the provisions of Companies Act applicable in India. The company is a leading Mobile Handset Company in India and has expanded its operations to multiple countries across the world. Lava products are available through a nationwide retail network of 1.65 Lakh retailers who in turn are directly served by over 1000 distributors. Lava’s after sales service network is one of the largest in the country with close to 800+ professionally managed service centers focused on speed and quality of service.
INCORPORATION DETAILS
CIN |
U32201DL2009PLC188920 |
Registration Date |
27 March, 2009 |
Category/Sub-category of the Company |
Limited by Shares/Non-govt company |
Address of the Registered office and contact details |
Lava International Limited, B-14, HOUSE 2, BASEMENT, SHIVLOK |
Name, Address and Contact Details of Registrar and Transfer Agent, if any |
LINK INTIME INDIA PRIVATE LIMITED C-101, 1 FLOOR, 247 PARK, L.B.S. MARG, VIKHROLI (WEST)MUMBAI - 400083 |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
Name and Description of main products/services |
NIC Code of the product/service |
% to the total turnover of the Company |
Mobile phones, Tablet & Communication Equipment |
46524 |
100% |
BOARD OF DIRECTORS
Mr. Hari Om Rai, Chairman and Managing Director
Mr. Shailendra Nath Rai, Whole Time Director
Mr. Sunil Bhalla, Director
Mr. Vishal Sehgal, Director
Mr. Vinod Rai, Independent Director
Mr. Rahul Kansal, Independent Director
Ms. Chitra Gouri Lal, Independent Director
Mr. Vinod Shrama, Independent Director
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
XOLO – Subsidiary
China Bird Centro America S.A - Subsidiary
SHAREHOLDING PATTERN (As of 31-03-2021)
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
1. |
Promoter Group |
11,89,95,182 |
95.30% |
2. |
Public Shareholding |
58,71,720 |
4.70% |
|
Total |
12,48,66,902 |
100.00% |
INDUSTRY OUTLOOK
It is a market leader in several countries being 4th largest in India, 2nd largest in Thailand, 3rd largest in Sri Lanka and 5th largest in Bangladesh. It is currently in the works to expand its presence in the continent of Africa. The company has been building mobile handset design capability including industrial design, mechanical design, hardware design & software design. It has demonstrated quick and robust expansion since inception, showing profitability and growing sales since the first year of operations. Lava and Xolo are two brands that operate under the parent company. With ‘Create Possibilities’ as its guiding principle, Lava has embarked on an ambitious journey of becoming the 1st global consumer brand from India by empowering every human with quality innovative products.
LAVA has a wide product portfolio that encompasses tablets, feature phones, and smartphones having various models in bar and touch form factors at multiple price points to suit all categories of consumers. The handset-maker a couple of years ago had 50 products (about 20 smartphones and some 35 feature phones) in its portfolio which has now brought down to less than 15 phones (five smartphones and nine feature phones).
Lava has two manufacturing plants in India and the company claims to be the only Indian brand to design devices in India and do PCB SMT in its own factory. The Company has an in-house research and development centre and manufacturing facilities in Noida.
PROFIT & LOSS STATEMENT OF LAVA INTERNATIONAL LIMITED (In Rs. Millions)
PARTICULARS |
2021 |
2020 |
2019 |
Revenue from Operations |
16166.82 |
19277.10 |
30663.47 |
EBITDA |
1030.42 |
1001.20 |
787.91 |
EBITDA margins |
6.37 |
5.19 |
2.56 |
Finance Cost |
285.09 |
308.88 |
379.65 |
Depreciation |
226.51 |
273.30 |
316.35 |
Other Income |
98.47 |
165.95 |
50.92 |
Profit/Loss before Exceptional items and Tax |
518.82 |
419.02 |
267.70 |
Exceptional items |
- |
- |
- |
Total Tax |
104.42 |
170.97 |
69.48 |
Profit After Tax (PAT) |
414.40 |
248.05 |
198.22 |
PAT Margin |
2.56 |
1.28 |
0.64 |
EPS |
3.32 |
1.99 |
1.59 |
BALANCE SHEET OF LAVA INTERNATIONAL LIMITED (In Rs. Millions)
PARTICULARS |
31st March 2021 |
31st March 2020 |
31st March 2019 |
ASSETS |
|||
NON CURRENT ASSETS |
|||
Property, Plant & Equipment |
578.97 |
523.37 |
669.55 |
Capital Work in Progress |
32.76 |
20.69 |
- |
TOTAL NON CURRENT ASSETS |
1635.14 |
1432.16 |
1546.58 |
CURRENT ASSETS |
|||
Inventories |
3263.56 |
1872.42 |
3556.98 |
Trade receivables |
7388.05 |
8818.07 |
6726.49 |
Cash and cash equivalent |
181.08 |
123.35 |
722.07 |
Other Financial assets |
982.10 |
980.19 |
971.22 |
Other current assets |
2305.31 |
2916.70 |
3000 |
TOTAL CURRENT ASSETS |
15749.34 |
16039.78 |
16859.89 |
TOTAL ASSETS |
17384.48 |
17471.94 |
18406.47 |
EQUITY AND LIABILITIES |
|||
EQUITY |
|||
Equity Share Capital |
1248.67 |
1248.67 |
1248.67 |
Other Equity |
9277.33 |
8614.91 |
8361.5 |
TOTAL EQUITY |
10577 |
9913.58 |
9660.17 |
LIABILITIES |
|||
NON CURRENT LIABILITIES |
|||
Borrowings |
- |
553.58 |
672.89 |
Deferred Tax Liabilities |
- |
88.29 |
119.73 |
TOTAL NON CURRENT LIABILITIES |
214.15 |
1008.21 |
940.08 |
CURRENT LIABILITIES |
|||
Borrowings |
965.32 |
1094.42 |
797.86 |
Trade Payables |
3617.61 |
3812.33 |
5297.83 |
Other Financial Liabilities |
1096.11 |
530.73 |
594.91 |
Provisions |
163.85 |
158 |
231.83 |
Other Current Liabilities |
394.19 |
617.03 |
699.41 |
TOTAL CURRENT LIABILITIES |
6593.33 |
6550.15 |
7806.22 |
TOTAL LIABILITIES |
6807.48 |
7558.36 |
8746.3 |
TOTAL EQUITY AND LIABILITIES |
17384.48 |
17471.94 |
18406.47 |
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company decreased by 16.13% from Rs.19277.1 millions in FY 2020 to Rs. 16166.82 millions in FY 2021.
EBITDA of the company increased by 2.91% from Rs. 1001.20 millions in FY 2020 to Rs. 1030.42 millions in FY 2021.
Total borrowings of the company decreased from Rs.1648 million as of 31st March 2020 to Rs.965.32 million as of 31st March 2021. Due to this, Finance cost of the company decreased by 7.70% from Rs.308.88 millions to Rs.285.09 millions.
Profit after Tax of the company increased by 67.06% from Rs. 248.05 millions in FY 2020 to Rs. 414.40 millions in FY 2021.
The Current Ratio of the company as of 31st March 2021 was 2.38.
The Debt to Equity Ratio of the company as of 31st March 2021 was 2.02.
The book value of the company as of 31st March 2021 was Rs. 84.70.