Lumino Industries Q2 FY27 Revenue Up 30% YoY

Q2 FY27 Performance (Consolidated):

Revenue from Operations: ₹661 Cr (30% YoY growth from ₹509 Cr in Q2 FY26)
Other Income: ₹8 Cr (28% YoY growth)
Operating EBITDA: ₹84 Cr (34% YoY growth) with margin of 12.8% (40 bps improvement)
EBIT: ₹87 Cr (34% YoY growth) with margin of 13.1%
Profit Before Tax: ₹70 Cr (50% YoY growth) with margin of 10.4%
Profit After Tax: ₹53 Cr (51% YoY growth) with margin of 7.9%
Basic EPS: ₹2.0 (40% YoY growth)
Diluted EPS: ₹2.0 (40% YoY growth)

H1 FY27 Performance (Consolidated):

Revenue from Operations: ₹1,183 Cr (25% YoY growth from ₹946 Cr in H1 FY26)
Other Income: ₹13 Cr (20% decrease)
Operating EBITDA: ₹155 Cr (34% YoY growth) with margin of 13.1% (91 bps improvement)
EBIT: ₹159 Cr (28% YoY growth) with margin of 13.3%
Profit Before Tax: ₹124 Cr (44% YoY growth) with margin of 10.4%
Profit After Tax: ₹93 Cr (42% YoY growth) with margin of 7.8%
Basic EPS: ₹3.7 (37% YoY growth)
Diluted EPS: ₹3.7 (37% YoY growth)
Cash Flow from Operations: ₹56 Cr (Note: Excluding Trade Acceptance repayment impact of ₹68 Cr, CFO would have been ₹124 Cr)

Manufacturing Revenue: Not quantified but implied from order book split
EPC Revenue: Not quantified but implied from order book split
Overall business showed 20.4% CAGR in Revenue from FY24 (₹1,407 Cr) to FY26 (₹2,041 Cr)
EBITDA recorded 32.1% CAGR from FY24 (₹145 Cr) to FY26 (₹253 Cr)

As of September 30, 2026:

Post September 30, 2026:

New orders received: ₹386 Cr across conductors, cables and underground distribution infrastructure
L1 tenders: ₹555 Cr

Long Term Borrowings: ₹1 Cr (decreased from ₹28 Cr in FY26)
Short Term Borrowings: ₹127 Cr (decreased from ₹356 Cr in FY26)
Total Borrowings: ₹128 Cr (decreased from ₹384 Cr in FY26)
Cash and Cash Equivalents: ₹185 Cr (increased from ₹92 Cr in FY26)
Current Investments: ₹71 Cr (increased from ₹20 Cr in FY26)
Net Cash Position: (₹128) Cr (improved from net debt of ₹272 Cr in FY26)
Total Equity: ₹1,298 Cr (increased from ₹730 Cr in FY26)
Net Debt/Equity: (0.1x) (improved from 0.37x in FY26)
Net Debt/LTM EBITDA: (0.44x) (improved from 1.14x in FY26)

Current Capacity: 40,000 MT across two units in Howrah, West Bengal
Unit I: 31,000 MT capacity
Unit II: 9,000 MT capacity
New Facility: Acquired 650,000 sq. ft. land at Ranihati, Howrah for proposed 250,000 sq. ft. manufacturing facility
Expansion Plan: ₹180 Cr investment to add 35,000 MT capacity in phases
Phase I: 10,000 MT capacity expected to commence commercial production in Q4 FY27
Total Capacity Post Expansion: 75,000 MT (from current 40,000 MT)
New products: HT power cables up to 66 kV, with potential to expand to 132 kV
Capacity Utilization: FY24: 78.9%, FY25: 81.3%, FY26: 79.1%

Over three decades of experience in conductors, power cables, electrical wires and specialized products
One of few manufacturers of high-temperature low-sag (HTLS) conductors in India
Products supplied to power utilities across states, EPC companies
Presence across Power T&D, Renewable Energy, Industrial Applications, Railway and Communication Systems
UL certification obtained for exports to US and Europe
Introduced next generation conductors (AL59 and HTLS)
EPC capabilities across five lines: EHV Substations, Power T&D, HTLS Re-Conductoring, Solar Power, Water Management
Project execution presence across ten states in India and one international project in Rwanda

Purchase agreement with US-based CTC Global for ACCC Core used in manufacturing HTLS conductors
Railway electrification JV with Shyam Indus Power Solutions and Zetwerk
Water EPC JV with SMC Infrastructure

Investments of ₹4-5 lakh crores each in transmission and distribution over FY27-FY31
Green Energy Corridor Phase III approved outlay of ₹1.86 lakh crores including 50 GWh battery storage
Target to integrate up to 135 GW of renewable energy by FY33
Wires and cables projected to grow at 13-14% CAGR, conductors at 12-15% CAGR over FY26-FY31
Exports of wires and cables projected to grow at 9-10% CAGR between FY26-FY31

Highlighted 30% YoY revenue growth in Q2 FY27 and positive cash flow generation
Emphasized strong order book visibility across both manufacturing and EPC businesses
Ranihati expansion central to next phase of growth, broadening cable portfolio to include HT power cables up to 66 kV
Focus on opportunities for specialized products, particularly HTLS conductors
Integrated manufacturing and EPC model provides competitive advantage
Priorities: advance Ranihati expansion, increase contribution of specialized conductors and cables, execute order book efficiently

Chairperson & Non-Executive Director: Purushottam Dass Goel (50+ years experience)
Managing Director: Devendra Goel
Whole Time Director: Jay Goel
Independent Directors: Hemant Sultania, Amitabh Mathur, Shalu Laxmanraj Bhandari
CFO: Hemant Bhuwania (since July 2025)
Jt. CFO: Ajay Kumar Luharuka
Company Secretary & Compliance Officer: Vivek Jain (since January 2026)