Lumax Auto Technologies Limited (LUMAXTECH)
₹1,968.50 +2.91% last close, 16 Oct
Q2 FY27 results
📅 Next results: 24 Oct 2026 (board meeting)Lumax Auto Technologies Limited's board meets on 24 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q4 FY26, Lumax Auto's revenue was ₹1,417 Cr (+25.1% year on year, +211.3% on the previous quarter), and net profit ₹98.0 Cr (+22.5% year on year); the operating margin was 14.3%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹1,417 | +25.1% | +211.3% |
| Operating profit | ₹203 | +29.3% | +408.4% |
| Net profit | ₹98.0 | +22.5% | +800.0% |
| EPS (₹) | 12.93 | +50.9% | +708.1% |
| Operating margin | 14.3% | — | — |
LUMAXTECH delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 50.69% of the LUMAXTECH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 43.87%. That is close to its usual level.
Delivery in the last 5 sessions: 80.0% · 38.1% · 43.0% · 41.4% · 50.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Lumax Auto Technologies Limited concluded its 45th Annual General Meeting on August 26, 2026, with shareholders approving all 6 agenda resolutions by requisite majorities. Key approvals include the declaration of a dividend of Rs 5.50 per equity share (face value Rs 2) for FY26, the re-appointment of Director Mr. Anmol Jain, and material related-party transactions with Lumax Industries Limited. A special resolution under Section 185 of the Companies Act, 2013 was also passed with 84.03% votes in favour despite 29.14% institutional dissent against it.
- Approved final dividend of Rs 5.50 per equity share of face value Rs 2 each for FY26 with 99.9998% approval
- Material Related Party Transactions with Lumax Industries Limited approved with 99.9993% votes in favor (promoter votes excluded)
- Section 185 transactions approved with 84.03% overall majority, though 29.14% of institutional votes polled were cast against
- Total shareholder count stood at 60,757 on the record/cut-off date of August 20, 2026
Lumax Auto Technologies conducted its 45th Annual General Meeting on August 26, 2026. Key items placed for shareholder voting included the approval of a Rs 5.50 per share dividend (face value Rs 2) for FY26 and approval for material related-party transactions with Lumax Industries. In the address, management reiterated its mid-term vision and long-term aspiration to more than double revenue to over Rs 10,000 crore by FY31 (compared to FY26 revenue of Rs 4,055 crore). The scrutinizer's voting results will be submitted within two working days.
- Declared/tabled dividend of Rs. 5.50 per equity share of face value Rs. 2 for FY26.
- Management outlined a target to double revenues to over Rs. 10,000 crore by FY2030-31 from FY26 base (Rs. 4,055 Cr).
- 79 shareholders attended the AGM via video conference out of 60,757 shareholders on the cut-off date (August 20, 2026).
- Key resolutions included material related-party transactions with Lumax Industries Limited and Section 185 approvals.
Lumax Auto Technologies released the transcript of its Q1 FY27 earnings conference call, highlighting strong operational performance with Q1 revenue rising 33% YoY to ₹1,364 crore and PAT jumping 83% YoY to ₹99 crore. Operating EBITDA grew 51% YoY to ₹205 crore as margins expanded by 190 bps to 15.1%. The company reported a confirmed order book of ₹1,600 crore (~39.5% of TTM revenue), of which 24% is executable in FY27 and 56% in FY28. Key expansions underway include a new Chakan plant for IAC, a consolidated Mechatronics facility at Manesar (commissioning in Q3 FY27), and a new Nashik plant for Greenfuel.
- Q1 FY27 consolidated revenue grew 33% YoY to ₹1,364 crore, driven by a 47% rise in Advanced Plastics (₹769 crore) and 56% rise in Mechatronics (₹84 crore).
- EBITDA increased 51% YoY to ₹205 crore with an EBITDA margin of 15.1% (+190 bps YoY); PAT reached ₹99 crore (+83% YoY).
- Total order book stood at ₹1,600 crore, with execution scheduled as 24% in FY27, 56% in FY28, and 20% in FY29.
- Management reaffirmed its '20.20.20.20 Vision' targeting a 20% revenue CAGR to cross ₹10,000 crore revenue by FY31 alongside ~20% EBITDA margins.
Lumax Auto Technologies has released the audio recording of its earnings conference call for the quarter ended June 30, 2026, held on August 11, 2026. This disclosure follows the company's FY26 performance which saw revenue reach ₹4,055 Cr with an operating margin of 12.9%. The call likely provides management commentary on the execution of the ₹1,357 Cr order book and the integration of the Greenfuel Energy acquisition. Investors can use this to gauge progress on the company's 25% revenue growth guidance for the current fiscal year.
- Earnings conference call held on August 11, 2026, for the Q1 period ended June 30, 2026
- Company is managing a robust order book of ₹1,357 Cr as per latest operational updates
- Revenue growth guidance for FY26 remains at 25% with a long-term CAGR goal of 20%
- High customer concentration noted with M&M and Bajaj Auto contributing 40-45% of total revenue
Lumax Auto Technologies (LATL) has detailed a robust order pipeline of Rs 1,601 Cr, representing approximately 39.5% of its TTM revenue, to be executed through FY29. The company introduced its 'NorthStar' strategy (FY26-31), targeting a 20% revenue CAGR and a significant expansion in EBITDA margins to 20% (up from the current ~13%). The revenue mix has successfully shifted toward Passenger Vehicles (52%), reducing dependence on the 2-wheeler segment. Key subsidiaries like Greenfuel and Mannoh contributed Rs 111 Cr and Rs 100 Cr respectively to Q1 FY27 revenue, showcasing the impact of recent acquisitions.
- Confirmed a total order pipeline of Rs 1,601 Cr, with Rs 894 Cr (56%) scheduled for execution in FY28.
- Set a '20.20.20.20' strategic target: 20% Revenue CAGR, 20%+ EBITDA margin, 20% ROCE, and 20% Future/Clean Mobility share by FY31.
- Passenger Vehicle segment now accounts for 52% of revenue, while 2/3-wheelers have reduced to 27%.
- Content per vehicle for 4-wheelers has reached Rs 70,000 - Rs 75,000, representing 5x growth over the last 5 years.
- Greenfuel subsidiary (60% stake) reported Q1 FY27 revenue of Rs 111 Cr with a strong 23.4% EBITDA margin.
Lumax Auto Technologies reported a strong start to FY27 with consolidated revenue growing 33% YoY to ₹1,364 crore, significantly outpacing the industry production growth of 22%. Profitability saw a sharper rise, with PAT (before minority interest) jumping 83% YoY to ₹99 crore, driven by a 190 bps expansion in EBITDA margins to 15.1%. The growth was supported by a shift in product mix, with Advance Plastics now contributing 56% of revenue compared to 51% last year. The company also noted a significant increase in the 2/3 Wheeler segment contribution, rising to 27% from 21% YoY.
- Consolidated revenue reached ₹1,364 crore in Q1 FY27, a 33% increase over ₹1,026 crore in Q1 FY26.
- EBITDA grew 51% YoY to ₹205 crore, with margins expanding by 190 bps to 15.1% from 13.2%.
- PAT (before minority interest) surged 83% YoY to ₹99 crore from ₹54 crore in the previous year.
- Advance Plastics segment revenue share increased to 56% from 51% YoY, reflecting premiumization.
- EPS for the quarter stood at ₹12.7, a 109% increase from ₹6.1 in Q1 FY26.
Lumax Auto Technologies has approved a capital outlay of Rs 156.23 crore to set up a new manufacturing plant for its Intelligent Ambient Comfort (IAC) division in Chakan, Maharashtra. The facility is dedicated to fulfilling new orders from Mahindra & Mahindra, with an expected peak annualized turnover of Rs 440 crore, representing approximately 10.8% of TTM revenue. The project will be funded through internal accruals and is scheduled for two-phase commissioning by Q1 FY2028. Simultaneously, the company reported Q1 FY27 standalone revenue of Rs 1,009.25 crore and a profit of Rs 73.75 crore.
- Capital outlay of Rs 156.23 crore for a new IAC division plant in Chakan, Maharashtra
- Expected peak annualized turnover of Rs 440 crore post-commissioning
- Project commissioning scheduled in two phases: Phase 1 by Q4 FY 2027 and Phase 2 by Q1 FY 2028
- Standalone Q1 FY27 revenue stood at Rs 1,009.25 crore compared to Rs 740.37 crore in the previous year
- Approved corporate guarantee of up to Rs 8 crore for subsidiary Lumax FAE Technologies
Lumax Auto Technologies (LATL) has approved a significant capital outlay of ₹156.23 Cr to set up a new manufacturing plant in Chakan, Maharashtra, for its IAC Division. This facility is dedicated to new orders from Mahindra & Mahindra, with an expected peak turnover of ₹440 Cr by FY28. Simultaneously, the company reported strong Q1 FY27 standalone results, with revenue reaching ₹1,009.25 Cr, up 36% YoY from ₹740.37 Cr. The board also approved a ₹8 Cr corporate guarantee for its subsidiary, Lumax FAE Technologies, to support its working capital and capex needs.
- Approved ₹156.23 Cr capital expenditure for a new manufacturing plant in Chakan, Maharashtra.
- New plant targets a peak annualized turnover of ₹440 Cr, representing ~10.8% of TTM revenue.
- Standalone Q1 FY27 revenue grew 36.3% YoY to ₹1,009.25 Cr compared to ₹740.37 Cr in Q1 FY26.
- Standalone Q1 FY27 profit after tax rose to ₹73.75 Cr from ₹38.44 Cr in the previous year's quarter.
- Phase 1 of the new plant is expected to be commissioned by Q4 FY2027, with Phase 2 by Q1 FY2028.
Lumax Auto Technologies reported a strong Q1 FY27 with standalone revenue growing 36% YoY to Rs 1,009.25 Cr and PAT rising 92% to Rs 73.75 Cr. The board approved a Rs 156.23 Cr capex for a new plant in Chakan, Maharashtra, to serve Mahindra & Mahindra, targeting a peak turnover of Rs 440 Cr. This expansion represents approximately 15% of the company's current net worth. Additionally, the company will provide an Rs 8 Cr corporate guarantee for its subsidiary, Lumax FAE Technologies.
- Standalone Revenue for Q1 FY27 reached Rs 1,009.25 Cr, a 36% increase from Rs 740.37 Cr YoY.
- Approved Rs 156.23 Cr capital outlay for a new IAC division plant in Chakan, Maharashtra.
- New plant targets a peak annualized turnover of Rs 440 Cr, representing ~10.8% of TTM revenue.
- Standalone Net Profit for the quarter rose to Rs 73.75 Cr from Rs 38.44 Cr in the previous year's quarter.
- Phase 1 of the new plant is expected to be commissioned by Q4 FY2027.
Lumax Auto Technologies (LUMAXTECH) has scheduled its 45th Annual General Meeting (AGM) for August 26, 2026, to be conducted via video conferencing. A key takeaway for shareholders is the fixing of August 6, 2026, as the record date for determining eligibility for the final dividend. The company expects to complete the dividend payment by September 24, 2026. Additionally, the company has dispatched physical letters with QR codes to shareholders without registered emails to ensure access to the FY 2025-26 Integrated Annual Report.
- 45th Annual General Meeting scheduled for August 26, 2026, at 11:00 A.M. IST.
- Record date for final dividend payment fixed as Thursday, August 6, 2026.
- Dividend payment to be processed on or before September 24, 2026.
- e-Voting period for shareholders set from August 23 to August 25, 2026.
- Integrated Annual Report for FY 2025-26 made available via QR code and web links for non-registered users.
Lumax Auto Technologies has issued its 45th AGM notice for August 26, 2026. Key proposals include a dividend of ₹5.50 per share and a significant related party transaction (RPT) limit of ₹805.21 Cr with Lumax Industries for FY27, which is approximately 20% of TTM revenue. Most notably, the company is seeking a ₹500 Cr limit for loans and guarantees to entities where directors are interested, representing nearly 48% of its current net worth.
- Proposed dividend of ₹5.50 per equity share (face value ₹2) for the financial year ended March 31, 2026
- Approval sought for material related party transactions with Lumax Industries Ltd up to ₹805.21 Cr for FY 2026-27
- Proposed special resolution for a ₹500 Cr limit to advance loans or provide guarantees to interested entities
- Re-appointment of Mr. Anmol Jain as Director; his FY26 remuneration was ₹387.26 Lakhs
- AGM scheduled for August 26, 2026, via video conferencing
Lumax Auto Technologies has finalized the timeline for its FY25-26 dividend distribution and 45th Annual General Meeting (AGM). The record date to determine shareholder eligibility for the dividend is August 06, 2026. The AGM is scheduled for August 26, 2026, and if approved, the dividend will be paid to shareholders by September 24, 2026. This follows a fiscal year where the company achieved a TTM revenue of ₹4,055 Cr and a PAT of ₹241 Cr.
- Record date for FY25-26 dividend eligibility fixed as August 06, 2026.
- 45th Annual General Meeting (AGM) scheduled for August 26, 2026, via video conferencing.
- Dividend payment deadline set for September 24, 2026, subject to shareholder approval.
- Cut-off date for AGM voting eligibility is August 20, 2026.
- Company currently maintains a robust order book of ₹1,357 Cr.
Lumax Auto Technologies has announced August 6, 2026, as the record date for its FY26 dividend eligibility. The company's 45th Annual General Meeting (AGM) is scheduled for August 26, 2026, where the dividend will be formally approved. Shareholders as of the record date will receive payments by September 24, 2026. This follows a fiscal year where the company reported TTM revenue of Rs 4,055 Cr and maintains a robust order book of Rs 1,357 Cr.
- Record date for FY26 dividend eligibility is fixed as August 6, 2026
- 45th Annual General Meeting (AGM) scheduled for August 26, 2026
- Dividend payment to be completed on or before September 24, 2026, if approved
- Cut-off date for e-voting eligibility is August 20, 2026
- Company is managing a current order book of Rs 1,357 Cr
Lumax Auto Technologies has formally designated Mr. Sunil Shantaram Koparkar, the current CEO of its Intelligent Ambient Comfort (IAC) Division, as Senior Management Personnel effective July 22, 2026. Mr. Koparkar brings over 40 years of global experience in the automotive and plastics sectors, having held leadership roles at Magna International and IAC Group. This designation strengthens the leadership framework for the IAC division, which is a critical pillar in the company's strategy to increase its Passenger Vehicle (PV) segment share and achieve its 25% revenue growth guidance for FY26.
- Mr. Sunil Shantaram Koparkar designated as Senior Management Personnel effective July 22, 2026
- The appointee brings over 40 years of experience in automotive and plastics across North America, Europe, and Asia
- The IAC division is a key strategic unit for Lumax, aimed at balancing a portfolio where two clients (M&M and Bajaj) contribute 40-45% of revenue
- Mr. Koparkar previously served as a global operations leader at IAC Group and held roles at Magna International
Lumax Auto Technologies has announced a dividend of Rs 5.50 per share (275% of face value) for FY 2025-26. The record date for eligibility is fixed as August 06, 2026, with the final payout subject to shareholder approval at the AGM on August 26, 2026. Shareholders must submit tax-related documentation by August 03, 2026, to determine the applicable withholding tax (TDS) rate. Resident individuals are exempt from TDS if their total dividend for the financial year does not exceed Rs 10,000.
- Dividend of Rs 5.50 per equity share of Rs 2 face value recommended for FY 2025-26
- Record date for dividend eligibility set for Thursday, August 06, 2026
- Deadline for submitting tax-related documents is Monday, August 03, 2026
- Standard TDS rate of 10% for resident shareholders with valid PAN; 20% if PAN is invalid or not linked to Aadhaar
- No TDS for resident individuals if the total dividend for FY 2026-27 does not exceed Rs 10,000
Financial Performance
Revenue Growth by Segment
Consolidated revenue recorded a healthy 37% YoY growth in Q2 FY26. Standalone revenue grew 10.55% from INR 1,334.57 Cr in FY24 to INR 1,475.42 Cr in FY25. The group expects to cross INR 3,500 Cr revenue over the medium term driven by IAC India and new product scaling.
Geographic Revenue Split
Not explicitly disclosed in available documents, though manufacturing facilities are located in Bhiwadi, Chakan, Rudrapur, and Gurugram, serving domestic OEMs and aftermarket segments.
Profitability Margins
Operating margins are targeted at 12%-14% over the medium term. H1 FY26 saw a 100 basis point dip in margins due to one-time consultant costs for cost optimization, but management expects a return to double-digit margins including other income.
EBITDA Margin
EBITDA margins for Q2 FY26 stood at 14.7% and H1 FY26 at 14%. The company maintains a full-year FY26 guidance of 14% to 15% EBITDA margin.
Capital Expenditure
Planned capex for FY26 is INR 200 Cr, an increase from the previous annual run rate of INR 140-150 Cr. This is intended to fund capacity for new orders and product vertical expansions.
Credit Rating & Borrowing
The group maintains a 'Stable' outlook with a healthy financial risk profile. Standalone working capital limits of INR 275-300 Cr were utilized at approximately 90% through June 2025. Long-term debt obligations are approximately INR 80 Cr per annum starting FY25, rising to INR 100-150 Cr starting FY26.
Operational Drivers
Raw Materials
Specific raw material names like steel, plastic resins, or electronic components are not listed with percentages, but the company notes high vulnerability to volatility in raw material prices which impacts the 40-45% of revenue tied to major OEMs.
Capacity Expansion
The company is expanding capacity to support a robust order book of INR 1,357 Cr. Current working capital utilization is high at 90%, indicating near-full capacity utilization of existing lines.
Raw Material Costs
Raw material costs are a significant portion of the expense base (Total expenses were INR 1,420.71 Cr against INR 1,475.42 Cr revenue in FY25). The company has the ability to largely pass on input cost increases to both OEMs and aftermarket segments.
Manufacturing Efficiency
The company engaged external consultants in H1 FY26 for cost optimization and business growth acceleration, incurring a one-time cost that impacted margins by 100 bps to improve long-term efficiency.
Strategic Growth
Expected Growth Rate
25%
Growth Strategy
Growth will be achieved through a 20% CAGR goal, supported by a revised FY26 revenue growth guidance of 25%. Key drivers include the integration of the alternate fuel business (Greenfuel), a shift toward premium products (LED lighting), and the execution of a INR 1,357 Cr order book (7% in FY26, 35% in FY27, 48% in FY28).
Products & Services
Lighting systems (head lamps, tail lamps), automatic gear shifters, sheet metal components, oxygen sensors, antennas, communication products, wire harnesses, and alternate fuel (CNG/Hydrogen) systems.
Brand Portfolio
Lumax, IAC India, Greenfuel, Lumax Mannoh, Lumax Cornaglia, Lumax Yokowo.
New Products/Services
New product launches include oxygen sensors and integrated plastic components. The alternate fuel business (CNG/Hydrogen) is expected to be a major growth driver following the 60% stake acquisition in Greenfuel.
Market Expansion
Expansion into the green and alternate fuels market (CNG/Hydrogen) and increasing the share of the Passenger Vehicle (PV) segment through IAC India to balance the two-wheeler dominated portfolio.
Strategic Alliances
JVs and partnerships include Yokowo (Japan) for antennas, JOPP (Germany) for transmission products, Mannoh (Japan) for gear shifters, and Cornaglia (Italy) for emission systems.
External Factors
Industry Trends
The industry is shifting toward premiumization, LED lighting, and alternate fuels (CNG/Hydrogen). GST rate rationalization has also been cited as a factor for revising revenue guidance upward to 25%.
Competitive Landscape
The company competes in the auto-component manufacturing sector, specifically in lighting, plastic interiors, and transmission components.
Competitive Moat
The moat is built on long-standing strategic partnerships with major OEMs (M&M, BAL) and a diversified product portfolio across multiple vehicle segments (2W, 3W, PV, CV). This is sustained by technical JVs with global leaders like Yokowo and JOPP.
Macro Economic Sensitivity
Revenue is sensitive to the automotive industry cycle; Q2 FY26 saw 3-wheeler volumes up 18% and CV volumes up 11% YoY, which positively impacted revenue growth.
Consumer Behavior
There is a continued consumer shift towards premium products and vehicles equipped with advanced features like LED lighting and automatic shifters.
Regulatory & Governance
Industry Regulations
Operations are subject to automotive manufacturing standards and pollution norms, particularly for the new alternate fuel (CNG/Hydrogen) and emission systems divisions.
Environmental Compliance
The subsidiary Lumax Cornaglia received a Sustainability Excellence Award from Tata Motors in September 2025, indicating high compliance with ESG standards.
Taxation Policy Impact
The company noted that GST rate rationalization was a key driver in revising its FY26 revenue growth guidance upward to 25%.
Risk Analysis
Key Uncertainties
The primary uncertainty is the volatility of raw material prices and the potential for demand fluctuations from the two largest customers (M&M and BAL), which could impact margins if capacity utilization falls below optimal levels.
Geographic Concentration Risk
Manufacturing is concentrated in India (Bhiwadi, Chakan, Rudrapur, Gurugram), making it sensitive to domestic automotive policy and regional economic shifts.
Third Party Dependencies
High dependency on technology partners (Yokowo, JOPP, Cornaglia) for specialized product lines and on two major OEM customers for 40-45% of revenue.
Technology Obsolescence Risk
The company is mitigating technology risk by investing in oxygen sensors and alternate fuel systems (CNG/Hydrogen) to stay ahead of the shift away from traditional internal combustion engine components.
Credit & Counterparty Risk
Credit risk is low as major customers include 'CRISIL AAA' rated entities like Mahindra & Mahindra.
