Lumax Industries Ltd
Lumax Industries Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
The short version
Lumax Industries expects a revenue growth of 20%-25% for FY'26, revised upward from 15%-20% due to GST rate cuts and strong OEM order book. Lumax Industries expects strong revenue growth: 20%-25% for FY'26, similar growth projected for FY'27. - Over a 3-5 year horizon, a CAGR of 15%-20% in topline is anticipated, outpacing industry averages. - EBITDA margins are targeted to improve from current double-digit levels (~9-10%) to 12%-13% over the next 2-3 years, driven mainly by operating leverage and introduction of new technology. - Operating efficiencies and localization of components are key drivers for margin expansion, with raw material costs expected to stabilize around 64%-65%. - Manpower and fixed costs as percentage of sales are expected to decrease, aiding margin improvement. - The order book of ~Rs.
From Lumax Industries Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Lumax Industries expects a revenue growth of 20%-25% for FY'26, revised upward from 15%-20% due to GST rate cuts and strong OEM order book.
- For FY'27, growth is expected to be similar to FY'26 (20%-25%).
- Over the next 3 to 5 years, the company anticipates a CAGR of 15%-20%, outperforming industry growth.
- Volume growth is projected at 5%-7% CAGR beyond FY'26, with incremental growth driven by increased value per vehicle and wallet share expansion.
- The export business, including models like Maruti’s eVitara, is expected to scale significantly, targeting annual revenues of Rs. 400-500 crores with 150,000-170,000 units in 1-1.5 years.
2 more points from Lumax Industries Ltd's call on revenue
Create a free account to keep reading this call
Profitability & Margins
See what Lumax Industries Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- New manufacturing facility in Bengaluru, Karnataka with a capital investment of approximately Rs. 140 crores.
- The Bengaluru plant will cater to newly secured orders from Maruti Suzuki and Toyota.
- Targeted commissioning of the Bengaluru facility by Q4 of FY'26-'27.
- Expected peak annualized turnover of around Rs. 450 crores once fully ramped up.
- Chakan Phase 2 facility on track to commence operations from H2 of FY'26, catering primarily to Skoda and Volkswagen.
- Expansion of headlamp capacities due to winning a headlamp business for Toyota Kirloskar Motor, implying further CAPEX.
2 more points from Lumax Industries Ltd's call on capex
Create a free account to keep reading this call
Top-ranked in Auto Components
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Lumax Industries Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book stands at approximately Rs. 1,850-1,900 crores, equivalent to about six months of revenue.
- About 15%-20% of this order book is expected to be recognized in the P&L for the current fiscal year.
- Around one-third of the order book is anticipated to convert to revenue in FY'27.
- Another one-third to 40% is expected to materialize in FY'28.
- A small residual portion of 5%-7% may be recognized in FY'29.
- The order book is dynamic and continuously evolving, with new wins of approximately Rs. 700 crores recently secured in the quarter.
2 more points from Lumax Industries Ltd's call on order book
Create a free account to keep reading this call
Lumax Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.3K Cr, net profit ₹52 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Lumax Industries Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
Others in Auto Components this season
- Tenneco Clean Air India Ltd (Q2 FY26)
Growth in Clean Air and Powertrain Solutions segment was 3% YoY in the recent quarter, slightly underperforming industry growth; however, this is seen as a…
- Divgi Torqtransfer Systems Ltd (Q2 FY26)
Current orders under execution are valued at approximately INR 90 crore, derived from contractual prices and RFQ volumes from Tier 1 customers. Key concall…
- India Nippon Electricals Ltd (Q2 FY26)
Q2-FY26 Revenue from Operations: INR 2,726 Mn, a 29.9% YoY increase from INR 2,099 Mn in Q2-FY25. Key investor presentation takeaways from India Nippon Electric
- Carraro India Ltd (Q2 FY26)
. Key concall takeaways from Carraro India Ltd's Q2 FY26 earnings call — and how it ranks against sector peers.
Arthneeti Pro · Annual
Lumax Industries Ltd and 15K+ more earnings calls,
for less than your morning chai
a day
Every earnings call, ranking and concall Q&A across all four results seasons.
Secure Razorpay payment · instant access
Frequently Asked Questions
What were Lumax Industries Ltd Q2 FY26 results?
Lumax Industries expects a revenue growth of 20%-25% for FY'26, revised upward from 15%-20% due to GST rate cuts and strong OEM order book. Lumax Industries expects strong revenue growth: 20%-25% for FY'26, similar growth projected for FY'27. - Over a 3-5 year horizon, a CAGR of 15%-20% in topline is anticipated, outpacing industry averages. - EBITDA margins are targeted to improve from current double-digit levels (~9-10%) to 12%-13% over the next 2-3 years, driven mainly by operating leverage and introduction of new technology. - Operating efficiencies and localization of components are key drivers for margin expansion, with raw material costs expected to stabilize around 64%-65%. - Manpower and fixed costs as percentage of sales are expected to decrease, aiding margin improvement. - The order book of ~Rs.
What is Lumax Industries Ltd share price analysis?
Lumax Industries Ltd currently shows a neutral. The stock trades at a P/E of 25.8 with a market cap of ₹5,178 Cr. Investors should review the full earnings analysis for detailed insights.
Is Lumax Industries Ltd planning capital expenditure?
New manufacturing facility in Bengaluru, Karnataka with a capital investment of approximately Rs.
Keep Lumax Industries Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.