Lumax Auto Technologies Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 18 Jul 2026 | Auto Components | Market Cap: ₹11.6K Cr
Lumax Auto Technologies expects a strong revenue growth trajectory, having revised FY 26 revenue growth guidance from 25% to 30%. Lumax Auto Technologies targets a 20% CAGR in revenue over the next 3-4 years through a mix of organic and inorganic growth.
From Lumax Auto Technologies Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,989
Market Cap
₹11.6K Cr
P/E Ratio
40.8
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Lumax Auto Technologies Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹108 Cr.
Full financials →📊 Revenue & Sales Performance
- →Lumax Auto Technologies expects a strong revenue growth trajectory, having revised FY 26 revenue growth guidance from 25% to 30%.
- →The company targets a ~20% CAGR over the next 3 to 4 years through a combination of organic and inorganic growth.
- →Subsidiaries like IAC and Lumax Alps Alpine are expected to sustain high growth, with IAC growing ~40% in 9M FY 26 and Mechatronics division growing ~200% on a low base.
- →Aftermarket segment shows strong 15% growth and aims to accelerate beyond 20% growth in the coming year.
- →Growth across key customers (Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki) remains robust with multiple new model SOPs planned.
- →Greenfuel Energy Solutions aligns growth with national shift to alternate fuels, contributing significant revenues (~INR270 crore in 9M).
- →Expansion in premium product content per vehicle will further drive revenue and profitability.
📈 Profitability & Margins
- →Lumax Auto Technologies targets a 20% CAGR in revenue over the next 3-4 years through a mix of organic and inorganic growth.
- →EBITDA margin is expected to expand to about 16% by FY 28, with confidence in maintaining 15%-15.5% in FY 27 and further improvement thereafter.
- →Profit growth is projected to be significantly higher in FY 27 due to accelerated top-line growth and margin improvement.
- →Aftermarket segment is expected to grow over 20% next year, driving higher-margin profitability.
- →Subsidiaries like IAC, Mechatronics, Lumax Alps Alpine, and Greenfuel are anticipated to contribute strongly to revenue and margin growth.
- →Telematics revenue is expected to double within 12-18 months, driven by new Aftermarket verticals and ADAS adoption.
- →The increase in minority interest percentage this quarter is a one-off; normalized minority share of PAT is guided between 15%-17%.
- →Overall, Lumax expects steady profit and EPS growth with strong operational leverage from diversified product mix and new business wins.
🏗️ Capital Expenditure Plans
- →Capex for 9M FY 26 was INR172 crore, including:
- → - Strategic land investments in Gujarat and Kharkhoda for INR44 crore.
- → - Capacity expansion in IAC (INR50 crore) and Lumax Alps (INR20 crore).
- →Full-year capex guidance is close to INR240 crore, slightly up from the earlier estimate of INR220 crore.
- →Future annual organic growth capex expected between INR150-200 crore.
- →Capital investments made for new ferrule-less tubes and fittings technology at Greenfuel (~INR8-10 crore in FY 26).
- →No concrete inorganic investment plans currently; management will communicate if any materializes.
- →China office staffed for tooling, development, manufacturing automation; signed technology arrangements leading to new businesses like ambient lighting with Maruti and premium components.
- →Discussions underway with Mahindra for potential new plant setup in Nagpur but still preliminary.
💰 Fundraising & Capital Structure
- →Currently, there are no concrete plans for new inorganic acquisitions or fundraising.
- →Existing term loans, mainly acquisition financing, are expected to be fully repaid in the next 3 years.
- →Annual organic capex is planned around INR 150-200 crore, funded through internal resources and free cash.
- →If any material inorganic acquisition opportunities arise in the future, the company will assess the balance between debt and internal accruals and communicate accordingly.
- →Debt position is stable at around INR 770 crore, with long-term debt at INR 574 crore and a comfortable debt-to-equity ratio of 0.50.
- →Finance cost is expected to settle around INR 25-26 crore per quarter, reflecting current debt structure and repayments.
📋 Order Book & Pipeline
- →The company reported a robust order book of INR 1,450 crore as of Q3 FY 26.
- →Order book execution timeline:
- → - Approximately 33% expected to be executed in FY 27.
- → - 44% expected to be executed in FY 28.
- → - Remaining 23% anticipated in FY 29.
- →Order book composition reflects healthy traction across all product verticals:
- → - Advanced Plastics contributes the largest share.
- → - Followed by Mechatronics, Alternate Fuels, and Structures & Control Systems.
- →Greenfuel Energy Solutions, acquired in November FY 25, contributed INR 270 crore in 9M with an order book of INR 180 crore.
- →The order book provides strong business visibility going forward.
Key Metrics
Frequently Asked Questions
What were Lumax Auto Technologies Ltd Q3 FY26 results?
Lumax Auto Technologies expects a strong revenue growth trajectory, having revised FY 26 revenue growth guidance from 25% to 30%. Lumax Auto Technologies targets a 20% CAGR in revenue over the next 3-4 years through a mix of organic and inorganic growth.
What is Lumax Auto Technologies Ltd share price analysis?
Lumax Auto Technologies Ltd currently shows a neutral. The stock trades at a P/E of 40.8 with a market cap of ₹11,572 Cr. Investors should review the full earnings analysis for detailed insights.
Is Lumax Auto Technologies Ltd planning capital expenditure?
Capex for 9M FY 26 was INR172 crore, including: - Strategic land investments in Gujarat and Kharkhoda for INR44 crore.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.