Lux Industries Limited (LUXIND)
₹1,177.90 +2.70% last close, 16 Oct
Q2 FY27 results
📅 Next results: 03 Nov 2026 (board meeting)Lux Industries Limited's board meets on 3 Nov 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Lux Industries' revenue was ₹609 Cr (+0.8% year on year, -30.2% on the previous quarter), and net profit ₹23.1 Cr (-0.6% year on year); the operating margin was 7.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹609 | +0.8% | -30.2% |
| Operating profit | ₹42.8 | +21.2% | -33.2% |
| Net profit | ₹23.1 | -0.6% | -50.9% |
| EPS (₹) | 7.36 | -6.1% | -49.6% |
| Operating margin | 7.0% | — | — |
LUXIND delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 55.04% of the LUXIND shares traded on NSE were taken to delivery, against the stock's own 20-session average of 47.09%. That is close to its usual level. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 52.1% · 47.7% · 39.5% · 57.5% · 55.0%
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
Lux Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent KFin Technologies Limited confirms that equity share dematerialization requests received between July 1, 2026, and September 30, 2026, were processed within 15 days. Security certificates received for demat were verified, cancelled, and listed on stock exchanges where earlier shares trade. This filing is a standard quarterly regulatory requirement with no impact on business operations or financials.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarterly period from July 1, 2026, to September 30, 2026
- RTA KFin Technologies confirmed demat requests processed within 15 days of receipt
- Security certificates were verified, mutilated, and cancelled as per standard depository procedure
Lux Industries has concluded its 31st Annual General Meeting held on September 25, 2026, with all 7 resolutions passed with overwhelming majorities (>99.99%). Key approvals include the declaration of a final dividend of ₹2.00 per equity share (100% of face value of ₹2.00) for FY26 and the reappointment of three independent directors for a second five-year term. In the meeting proceedings, management also recapped ongoing strategic initiatives, including a planned 12 lakh sq. ft. manufacturing expansion at Dankuni and a proposed demerger of Vertical A and C businesses.
- Shareholders approved a final dividend of ₹2.00 per share (100% of face value) with 99.9991% assent.
- A total of 72 members attended the 31st AGM conducted via video conferencing.
- Reappointments of Independent Directors Sadhu Ram Bansal, Shashi Sharma, and Kumud Chandra Paricha Patnaik approved for 5-year terms.
- Management highlighted the foundation stone laying for a 12 lakh sq. ft. facility at Dankuni, scaling total Dankuni area to ~20 lakh sq. ft.
- All 7 ordinary and special resolutions were passed with over 99.99% voting approval.
Lux Industries Limited has dispatched notices to shareholders whose email addresses are unregistered with the company or depository participants, providing access details for the FY2025-26 Annual Report. The company announced that its 31st Annual General Meeting (AGM) will be conducted via video conferencing on Friday, September 25, 2026, at 11:00 AM IST. Shareholders holding physical shares have been advised to update their records via KFin Technologies Limited.
- 31st Annual General Meeting scheduled for September 25, 2026, at 11:00 a.m. IST
- Filing satisfies SEBI LODR Regulation 30 and 36(1)(b) requirements for Annual Report accessibility
- Shareholders with physical holdings requested to update details via Form ISR-1 and ISR-2 with KFin Technologies Limited
Lux Industries Limited has submitted its Annual Report for FY 2025-26 and scheduled its 31st Annual General Meeting (AGM) for September 25, 2026, via video conferencing. The annual report highlights FY26 revenue of ₹2,929 Cr, up from ₹2,583 Cr in FY25, while EBITDA declined to ₹205 Cr (EBITDA margin of 6.93%) from ₹266 Cr in FY25 due to higher branding, launch expenses, and operating costs. The company's manufacturing footprint encompasses 9 facilities with an annual capacity of 44+ crore pieces supported by 3,000+ dealers.
- 31st Annual General Meeting scheduled for September 25, 2026 at 11:00 AM IST via VC/OAVM.
- FY26 consolidated revenue rose to ₹2,929 Cr from ₹2,583 Cr in FY25.
- FY26 EBITDA dropped to ₹205 Cr (6.93% margin) from ₹266 Cr (10.16% margin) in FY25.
- Annual garment production capacity stands at 44+ crore pieces across 9 facilities.
The Board of Lux Industries Limited has approved a Scheme of Arrangement to demerge its Vertical A and Vertical C business undertakings into two separate wholly-owned subsidiaries, Lux and Cozi Limited and Lux Global Limited. In FY26, Vertical A generated ₹1,373.59 Cr (46.77% of standalone revenue) and Vertical C contributed ₹327.87 Cr (11.16% of revenue), leaving Vertical B with the parent company. Shareholders will receive 1 share of Lux and Cozi Limited and 1 share of Lux Global Limited for every 1 share held in Lux Industries, with both resulting entities proposed to be listed on BSE and NSE. The restructuring is aimed at focused business execution, value unlocking, and promoter succession planning.
- Vertical A business (FY26 revenue of ₹1,373.59 Cr, 46.77% of total) demerged into Lux and Cozi Limited
- Vertical C business (FY26 revenue of ₹327.87 Cr, 11.16% of total) demerged into Lux Global Limited
- Share entitlement ratio set at 1:1 for both resulting companies (1 share each of WOS 1 and WOS 2 for every 1 Lux Industries share)
- Both resulting entities will seek listing on BSE and NSE with mirror-image shareholding for public investors
Lux Industries has dispatched a communication to shareholders regarding Tax Deducted at Source (TDS) applicability on the recommended final dividend of ₹2.00 per equity share (face value ₹2) for FY26. The dividend is subject to approval at the 31st AGM scheduled for September 25, 2026. The record date for determining eligible shareholders is September 18, 2026, which is also the cutoff date for submitting relevant tax exemption forms (such as Form 121 / 15G / 15H). Standard TDS applies at 10% for resident shareholders with a valid PAN, and at 20% if PAN is not linked or operative.
- Recommended final dividend of ₹2.00 per equity share of face value ₹2 for FY26
- Record date fixed as September 18, 2026 to determine shareholder eligibility
- 31st Annual General Meeting scheduled for Friday, September 25, 2026 at 11:00 AM IST
- TDS exemption documents (Form 121/15G/15H) must be submitted to KFin Technologies by September 18, 2026
- Standard TDS rate is 10% for valid PAN; higher rate of 20% applies for missing/inoperative PAN
Lux Industries held a joint press conference with West Bengal's Principal Secretary of Industry and Commerce to refute allegations regarding approvals for its proposed ₹600 crore Dankuni manufacturing expansion. The government official confirmed all required regulatory due diligence and clearances were fulfilled for the ~12 lakh sq. ft. project. The company has also issued a legal defamation notice demanding a retraction and unconditional apology within 72 hours from the political leader who raised the claims.
- Dankuni expansion involves a project cost of approximately ₹600 crore (~20.5% of TTM revenue of ₹2,933 crore).
- Project includes ~12 lakh sq. ft. of additional manufacturing and allied infrastructure.
- West Bengal Principal Secretary of Industry & Commerce publicly confirmed that necessary due diligence and approvals were completed.
- Defamation notice issued giving a 72-hour deadline to remove defamatory online posts and issue an unconditional apology.
Lux Industries Limited has announced that its 31st Annual General Meeting (AGM) will be held on Friday, September 25, 2026. The company has fixed Friday, September 18, 2026, as the record date to determine member eligibility for the FY26 final dividend. The dividend payout remains subject to shareholder approval at the AGM. The exact dividend amount per share was not disclosed in this intimation.
- Record date fixed as Friday, September 18, 2026 for FY26 final dividend entitlement
- 31st Annual General Meeting scheduled for Friday, September 25, 2026 at 11:00 AM via VC/OAVM
- Dividend payment is subject to member approval at the upcoming AGM
- Notice of AGM and FY26 Annual Report to be circulated in due course
Lux Industries Limited has scheduled its 31st Annual General Meeting (AGM) for Friday, September 25, 2026, via video conferencing. The company has fixed Friday, September 18, 2026, as the Record Date to determine shareholder eligibility for the final dividend for FY26. The dividend remains subject to shareholder approval at the upcoming AGM.
- 31st Annual General Meeting scheduled for Friday, September 25, 2026, at 11:00 A.M.
- Record date for FY26 final dividend entitlement fixed as Friday, September 18, 2026
- Meeting to be conducted virtually through VC / OAVM
- Final dividend payout remains subject to shareholder approval at the AGM
Lux Industries released its corporate investor presentation for Q1 FY27, reporting consolidated revenue from operations of ₹609 crore, up 1% YoY compared to ₹604.33 crore in Q1 FY26. The company maintains a ~15% market share in the organized men's innerwear market with an annual manufacturing capacity of 44+ crore garment pieces across 9 plants. It highlighted ongoing strategic brand investments, moderate volume recovery, and volatile yarn prices impacting near-term margin dynamics.
- Q1 FY27 consolidated revenue from operations reached ₹609 crore, marking a modest 1% YoY growth
- Total manufacturing capacity stands at 44+ crore garment pieces per year across 9 plants
- Retail network spans 2 lakh+ multi-brand outlets, 3,000+ dealers, 12 EBOs, and exports across 46+ countries
- Solar power capacity expanded from 1.0 MW to 1.7 MW with 700 kW added at Avinashi & Tiruppur
Lux Industries reported Q1 FY27 revenue of ₹609.03 Cr, a marginal 0.8% increase from ₹604.33 Cr in Q1 FY26. Profit Before Tax (PBT) remained nearly flat at ₹30.27 Cr compared to ₹30.48 Cr in the previous year's quarter. The board approved the re-appointment of three Independent Directors for second five-year terms starting April 2027. Additionally, the company is progressing with a demerger plan to split its business into three distinct verticals to improve operational focus.
- Q1 FY27 Revenue of ₹609.03 Cr represents a 0.8% YoY growth from ₹604.33 Cr.
- Vertical A (Lux Cozi, ONN) remains the largest segment with revenue of ₹290.77 Cr.
- Three Independent Directors re-appointed for 5-year terms effective from April 1, 2027.
- Total assets as of June 30, 2026, stood at ₹2,974.66 Cr.
Lux Industries reported a flat Q1 FY27 performance with revenue at ₹609.03 cr, up marginally from ₹604.33 cr YoY, while PBT remained stagnant at ₹30.27 cr. The Board approved the re-appointment of three Independent Directors for a second 5-year term starting April 2027, ensuring governance continuity. A key management personnel (SMP) was designated for Vertical A, and new internal auditors were appointed for Vertical C. The company also provided an update on its proposed demerger of Vertical A and C into separate subsidiaries, which remains at a preliminary stage.
- Q1 FY27 Revenue stood at ₹609.03 cr, representing a marginal 0.78% growth over Q1 FY26 (₹604.33 cr).
- Profit Before Tax (PBT) for the quarter was ₹30.27 cr, slightly lower than ₹30.48 cr in the previous year's corresponding quarter.
- Three Independent Directors re-appointed for a 5-year term effective from April 1, 2027, to March 31, 2032.
- Vertical A (Lux Cozi, ONN) remains the largest segment, contributing ₹290.77 cr or 47.7% of total Q1 revenue.
- Vertical B (Lyra, GenX) contributed ₹249.22 cr to revenue with a segment result of ₹12.50 cr.
Lux Industries reported a flat Q1 FY27 with revenue of ₹609.03 Cr, a marginal 0.8% increase from ₹604.33 Cr in the same quarter last year. Profit Before Tax (PBT) remained nearly stagnant at ₹30.27 Cr compared to ₹30.48 Cr YoY. The company is moving forward with a strategic demerger of its business into three distinct verticals (A, B, and C) to streamline brand management. Additionally, the board re-appointed three independent directors for five-year terms starting in 2027 and restructured internal audit responsibilities across three different firms.
- Q1 FY27 Revenue from operations stood at ₹609.03 Cr, contributing approximately 21% to the TTM revenue.
- Profit Before Tax (PBT) for the quarter was ₹30.27 Cr, showing a slight decline from ₹30.48 Cr in Q1 FY26.
- Vertical A (Lux Cozi, ONN) remains the largest segment with revenue of ₹290.77 Cr, while Vertical B (Lyra) followed with ₹249.22 Cr.
- The board approved the re-appointment of three Independent Directors for a second 5-year term starting April 1, 2027.
- Internal audit for Vertical C was assigned to Astral Business Consulting LLP, while EY and Deloitte continue for Verticals A and B respectively.
Lux Industries has laid the foundation stone for a new ₹600 crore manufacturing facility in Dankuni, West Bengal, marking one of its largest-ever investments. The project involves expanding the existing 8 lakh sq. ft. facility by an additional 12 lakh sq. ft., bringing the total campus to 20 lakh sq. ft. This expansion will add 20 crore pieces to the annual production capacity, nearly doubling the group's nationwide capacity from 20 crore to 36 crore pieces. The company expects a five-year payback period, funded through a mix of internal accruals and external borrowings.
- ₹600 crore planned investment for a state-of-the-art manufacturing hub in West Bengal
- Capacity addition of 20 crore pieces annually, increasing total nationwide capacity to 36 crore pieces
- Expansion of the Dankuni facility from 8 lakh sq. ft. to a massive 20 lakh sq. ft. campus
- Projected five-year payback period for the total investment amount
- Expected to generate 3,000 direct and 6,000 indirect employment opportunities
Lux Industries has entered into an exclusive Brand Licensing Agreement (BLA) with RILUK IPCO Limited to design, manufacture, and sell Reebok-branded innerwear and thermal wear in India. The agreement is effective immediately and includes a 10-year renewal option. This move aligns with Lux's strategy to expand its premium portfolio and leverage its 15% market share in the organized hosiery industry. Given Lux's TTM revenue of Rs 2,929 Cr and current OPM of 6.1%, this global brand partnership could drive significant premiumization.
- Exclusive rights to the REEBOK trademark for men's and women's innerwear and thermal wear in India.
- Agreement includes a 10-year renewal option, providing long-term structural visibility.
- Lux currently spends ~9% of revenue on branding, which will now support a globally recognized label.
- The company targets Rs 200 Cr in online sales over the next 3 years, a segment where Reebok has high resonance.
- Lux maintains a production capacity of 34+ crore garment pieces annually to support this expansion.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 15% YoY to INR 779 Cr in Q2 FY26. Vertical A revenue grew 29% YoY to INR 376 Cr in Q2 FY26, while Vertical A assets grew 38.8% YoY to INR 1,298.74 Cr. Vertical B assets grew 19.6% to INR 1,188.47 Cr and Vertical C assets grew 21.8% to INR 361.71 Cr by HYE FY26.
Geographic Revenue Split
The company has a global footprint in 46+ countries. Domestic presence is extensive with products available through 2 lakh+ retail outlets and 1,170+ dealers across various districts in India.
Profitability Margins
Profitability has seen a sharp decline; PAT margin dropped from 7.5% in Q2 FY25 to 2.9% in Q2 FY26. HYE FY26 PAT margin stood at 3.3% compared to 6.9% in HYE FY25. This deterioration is attributed to lower volume offtake and competitive pressures.
EBITDA Margin
EBITDA margin declined to 6.3% in Q2 FY26 from 11.4% in Q2 FY25. For HYE FY26, EBITDA margin was 6.7% (INR 93 Cr) compared to 10.8% (INR 133 Cr) in HYE FY25, representing a 30% decline in absolute EBITDA value.
Capital Expenditure
The company is making near-term investments to augment production through internal accruals. Projected net cash accruals for FY2025 are INR 29.02 Cr to support these expansions.
Credit Rating & Borrowing
Acuité downgraded the long-term rating to 'Acuité AA' from 'Acuité AA+' in June 2023 with a 'Stable' outlook. The short-term rating was reaffirmed at 'Acuité A1+'. The downgrade was driven by seven consecutive quarters of declining profitability.
Operational Drivers
Raw Materials
Yarn is the primary raw material, accounting for approximately 50% of total product costs.
Import Sources
Sourcing is primarily domestic, supported by a backward-integrated facility in Dankuni, West Bengal, to mitigate price volatility.
Key Suppliers
Not disclosed in available documents, though the company maintains long-term contracts with various suppliers to manage yarn price fluctuations.
Capacity Expansion
Current annual production capacity is 34+ crore garment pieces. Expansion is focused on strengthening capacities in West Bengal, Punjab, Tamil Nadu, and Uttar Pradesh.
Raw Material Costs
Raw material costs are highly sensitive to yarn price volatility. The company uses a backward integration strategy at its Dankuni plant to control costs and monitor yarn prices closely to adapt procurement strategies.
Manufacturing Efficiency
Efficiency is driven by an ISO 9001:2015 certified quality management system and the use of automation and data analytics to minimize manual errors.
Logistics & Distribution
Distribution is managed through 1,170+ dealers and a growing e-commerce presence on platforms like Amazon, Flipkart, Myntra, and AJIO.
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Growth will be achieved by targeting INR 200 Cr in online sales over the next 3 years, expanding the 'ONN' brand EBOs at airports (Chennai and Srinagar), and adopting an investment-light #FOFO (Franchise-owned-franchise operated) model. The company is also diversifying into women's wear and kids' categories.
Products & Services
Men's innerwear, athleisure clothing, ladies' leggings, and outerwear.
Brand Portfolio
Lux Cozi, ONN, Lux Cozi Pynk, GenX, Lyra, and various other sub-brands totaling 16 brands.
New Products/Services
Expansion into women's wear and kids' categories; 'Lux Cozi Pynk' recently recognized as a top brand for women in 2025.
Market Expansion
Expanding multi-channel footprint through EBOs in high-traffic areas like airports and increasing presence on major e-commerce platforms.
Market Share & Ranking
Lux Industries holds a 15% market share of the organized hosiery industry and is the largest mid-segment hosiery enterprise in India.
External Factors
Industry Trends
The industry is shifting from offline-only to omni-channel models. Lux is positioning itself by targeting INR 200 Cr in online revenue and expanding its digital platform to connect with channel partners.
Competitive Landscape
Competes in the organized hosiery and mid-segment innerwear market against other major Indian brands.
Competitive Moat
Moat is built on a 15% organized market share, a massive distribution network of 1,170+ dealers, and high brand recall through celebrity endorsements (Salman Khan, Varun Dhawan). These are sustainable due to the high cost of brand building and distribution setup for competitors.
Macro Economic Sensitivity
Highly sensitive to consumer demand and discretionary spending trends in the textile and apparel sector.
Consumer Behavior
Shift toward athleisure and online shopping is driving the company's product diversification and e-commerce focus.
Geopolitical Risks
Geopolitical events are cited as a driver for raw material price volatility, particularly affecting yarn supply and global demand.
Regulatory & Governance
Industry Regulations
Compliance with textile industry standards, ISO 9001:2015 quality management, and environmental regulations regarding GHG emissions and material efficiency.
Environmental Compliance
ESG initiatives include a rooftop solar power plant and water-saving processes to comply with increasing regulatory pressure on GHG emissions.
Taxation Policy Impact
The company is subject to standard corporate tax rates; specific fiscal policy impacts are managed through a dedicated finance and accounts team.
Legal Contingencies
The company has appointed MR & Associates as Secretarial Auditor to ensure compliance with corporate laws and SEBI regulations; specific pending court case values are not disclosed.
Risk Analysis
Key Uncertainties
Raw material price volatility (yarn) and cyclical consumer demand are the primary uncertainties, with the potential to impact EBITDA margins by 300-500 bps as seen in recent quarters.
Geographic Concentration Risk
While present in 46 countries, the company has a significant concentration in the Indian market across various states including West Bengal and Punjab.
Third Party Dependencies
Reliance on a network of 1,170+ dealers for the majority of sales; however, dealer attrition is monitored to mitigate this.
Technology Obsolescence Risk
Risk of failing to adapt to digital transformation; mitigated by investing in IT infrastructure, automation, and AI-driven analytics.
Credit & Counterparty Risk
Receivables are managed through a robust internal control system and regular audits to ensure accountability and efficiency.
