Lumax Industries Limited announced its unaudited financial results for the second quarter and half year ended September 30, 2026 through a regulatory filing to BSE Limited and National Stock Exchange of India Limited.

Financial Performance Highlights (Consolidated)

Q2 FY27 Results:

  • Revenue: ₹1,342 Cr (up 33% YoY from ₹1,009 Cr in Q2FY26)
  • EBITDA: ₹110 Cr (up 21% YoY from ₹91 Cr in Q2FY26)
  • EBITDA Margin: 8.2% (down 80 bps from 9.0% in Q2FY26)
  • PBT (including share of associates): ₹70 Cr (up 48% YoY from ₹47 Cr in Q2FY26)
  • PBT Margin: 5.2% (up 50 bps from 4.7% in Q2FY26)
  • PAT (including share of associates): ₹52 Cr (up 46% YoY from ₹36 Cr in Q2FY26)
  • PAT Margin: 3.9% (up 40 bps from 3.5% in Q2FY26)
  • EPS: ₹55.62 (up 46% YoY from ₹38.13 in Q2FY26)

QoQ Comparison (Q2FY27 vs Q1FY27):

  • Revenue increased 10% from ₹1,223 Cr
  • EBITDA decreased 2% from ₹113 Cr
  • EBITDA Margin declined 100 bps from 9.2%
  • PBT increased 9% from ₹64 Cr
  • PAT increased 2% from ₹51 Cr
  • PAT Margin declined 30 bps from 4.2%
  • EPS increased 2% from ₹54.64

H1 FY27 Results:

  • Revenue: ₹2,565 Cr (up 33% YoY from ₹1,931 Cr in H1FY26)
  • EBITDA: ₹223 Cr (up 27% YoY from ₹175 Cr in H1FY26)
  • EBITDA Margin: 8.7% (down 40 bps from 9.1% in H1FY26)
  • PBT: ₹134 Cr (up 40% YoY from ₹95 Cr in H1FY26)
  • PBT Margin: 5.2% (up 30 bps from 4.9% in H1FY26)
  • PAT: ₹103 Cr (up 43% YoY from ₹72 Cr in H1FY26)
  • PAT Margin: 4.0% (up 30 bps from 3.7% in H1FY26)
  • EPS: ₹110.26 (up 43% YoY from ₹76.84 in H1FY26)

Divisional Performance (H1FY27)

Lighting Technology Mix:

  • LED Lighting: 63% of total revenue (H1FY26: 61%)
  • Conventional Lighting: 37% of total revenue (H1FY26: 39%)

Product Mix:

  • Front Lighting: 68% of total revenue (H1FY26: 69%)
  • Rear Lighting: 22% of total revenue (H1FY26: 22%)
  • Others: 10% of total revenue (H1FY26: 9%)

Segment Mix:

  • Passenger Vehicles: 63% of total revenue (H1FY26: 65%)
  • Two & Three Wheelers: 31% of total revenue (H1FY26: 30%)
  • Commercial Vehicles and Others: 6% of total revenue (H1FY26: 5%)

New Product Launches (Q2FY27)

The company made the following new launches during the quarter:

  • For Tata Motors Passenger Vehicles: Tail Lamp (High & Base Versions) for Aeris model
  • For M&M: Head Lamp, Fog & Cornering Lamp, Side Repeater Lamp for Thar Refresh model

Awards Received (Q2FY27)

  • Launch Excellence Award at the Tata Motors PV Annual Supplier Conference
  • CII National award for Best Environment Practices (Lumax Industries, Chakan II)
  • UBS Forum award for Best Practices in Sustainability (Lumax Industries, Bengaluru)

Management Commentary

Mr. Deepak Jain, Chairman, commented on the performance:

  • Strong H1FY27 performance with Q2 revenue growth of 33% YoY, outpacing industry trends
  • Growth driven by new program launches, ramp-ups, sustained growth with leading OEM customers, and rapid scale-up with smaller customers
  • Geopolitical challenges including supply chain disruptions and input cost volatility led to lower-than-expected operating margins
  • Company working with customers on cost recovery while focusing on cost discipline and operational efficiency
  • Order book stands at ₹2,580 Cr with LED lighting at ~88% and EV programs at ~11%
  • Passenger vehicles account for 63% and two- and three-wheelers for 37% of order book
  • Continuing to deepen relationships with existing customers while engaging with newer OEMs for customer base expansion
  • Committed to technology-led growth, deeper customer engagement, and operational excellence

Company Background

Lumax Industries Limited is India's pioneer in the Automotive Lighting Industry with over 4 decades of partnership with Stanley Electric Co. Limited, Japan. The company has twelve manufacturing plants in India and supplies to major OEMs including Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Hero Moto Corp, Honda Motorcycle and Scooter India, Toyota, and TVS.