Lumax Industries Limited

Meeting Details

The 45th AGM was conducted via Video Conferencing/Other Audio-Visual Means (VC/OAVM) on August 26, 2026, from 02:30 PM to 03:44 PM IST. The meeting had 105 shareholders in attendance (6 Promoters/Promoter Group, 99 Public shareholders) out of total 24,857 shareholders as of the cut-off date August 20, 2026.

Financial Performance Highlights (FY 2025-26)

  • Consolidated revenue grew 23.0% year-on-year to ₹4,184 crores (previous year: ₹3,400 crores)
  • EBITDA increased 42.8% to ₹412 crores
  • EBITDA margin expanded by 130 basis points to 9.8% (highest in company history)
  • Profit before tax and exceptional items increased to ₹186 crores
  • Consolidated PAT grew 23.3% to ₹172 crores
  • EPS increased to ₹184.5 (from ₹149.7)
  • ROCE improved to over 15%
  • ROE stood at 22%
  • Long-term debt-to-equity improved to 0.2x
  • ICRA upgraded long-term rating to ICRA AA- (Stable outlook) and short-term rating to ICRA A1+ in April 2026

Business Updates and Strategic Priorities

  • Company theme: "Illuminating the New" focusing on embracing change and building new capabilities
  • Four key priorities: Vertical integration & resilience (targeting 50-60% localization of electronic parts), Capability for complexity (LED share increased to 61% of portfolio), Capacity expansion (invested ₹408 Cr towards capex, setting up new Bengaluru plant), Technology & design leadership
  • Advanced R&D centers in Gurugram, Pune and design centers in Taiwan, and Czech Republic
  • Technology partnerships with Stanley Electric Co. Ltd, Japan and SL Corporation of Korea
  • Sustainability achievements: Bengaluru plant becoming India's first automotive lighting facility to achieve RE100 status, agri-voltaic solar installation at Dharuhera, India's first Life Cycle Assessment certification for automotive lighting product
  • Social initiatives: Zero fatalities, 99.62% training coverage, initiatives benefiting 7,800+ students, 424 cataract surgeries, and 338 scholarships

Resolutions Approved

1. Adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026 (Ordinary Resolution)

2. Declaration of dividend of ₹55 per equity share of ₹10 each for FY 2025-26 (Ordinary Resolution)

3. Re-appointment of Mr. Tomohiro Kondo (DIN: 10637013) as Director retiring by rotation (Ordinary Resolution)

4. Re-appointment of Mr. Tadayoshi Aoki (DIN: 08053387) as Senior Executive Director - Whole Time Director (Key Managerial Personnel) for 3 years (Special Resolution)

5. Change in designation of Mr. Deepak Jain (DIN: 00004972) from Chairman and Managing Director to Chairman (Key Managerial Personnel) (Special Resolution)

6. Change in designation of Mr. Anmol Jain (DIN: 00004993) from Joint Managing Director to Managing Director (Key Managerial Personnel) (Special Resolution)

7. Ratification of remuneration of cost auditors for financial year 2026-27 (Ordinary Resolution)

8. Approval of Material Related Party Transactions with Lumax Auto Technologies Limited (Ordinary Resolution)

Voting and Procedural Details

  • Remote e-voting facility provided through NSDL from August 23, 2026 (09:00 AM) to August 25, 2026 (05:00 PM)
  • Mr. Maneesh Gupta, Practicing Company Secretary, appointed as Scrutinizer
  • Company received 4 representations under Section 113 of Companies Act, 2013 for 45,23,766 Shares held by Promoter and Promoter Group
  • Statutory Registers available for inspection on NSDL Portal during AGM

Attendance

Directors Present: Mr. Deepak Jain (Chairman and Managing Director), Mr. Anmol Jain (Joint Managing Director), Mr. Tadayoshi Aoki (Senior Executive Director), Mr. Raajesh Kumar Gupta (Executive Director), Mr. Kenjiro Nakazono (Executive Director), Mr. Tomohiro Kondo (Non-Executive Director), Mr. Rajeev Kapoor (Independent Director), Mr. Vikrampati Singhania (Independent Director), Mrs. Ritika Sethi (Independent Director), Mr. Harish Lakshman (Independent Director), Mrs. Pallavi Dinodia Gupta (Independent Director), Mr. Pradeep Singh Jauhar (Independent Director)

Also Present: Mr. Vikas Mehra and Mr. Pranay Gupta (Partners of S.R. Batliboi & Co. LLP, Statutory Auditors), Mr. Maneesh Gupta (Practicing Company Secretary, Secretarial Auditor and Scrutinizer)