Lumax Industries Limited Earnings Summary — Q1 FY2027
Lumax Industries Reports Strong Q1 Performance with 32% Revenue Growth and Improved Margins
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 5 consecutive quarters.
- Revenue of ₹1,223 Cr is 32.6% higher year-on-year.
- Revenue has compounded at 24.8% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹51 Cr is 41.1% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 16.7% annualised across the period.
- Operating margin stands at 9.0% in Q1 FY2027.
- Operating margin expanded by 10 bps year-on-year.
- Over the last two years operating margin has expanded by 143 bps.
- PBT margin is 5.2%.
- Expense growth of 32.4% remained below revenue growth of 32.6%.
- Operating profit of ₹110 Cr is 34.1% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 73/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 1,223 | 1,200 | 1,053 | 1,009 | 923 | 923 | 887 | 812 | 766 | 743 |
| Expenses | Improving | 1,114 | 1,076 | 942 | 920 | 841 | 844 | 817 | 752 | 708 | 677 |
| Operating Profit | Improving | 110 | 124 | 111 | 89 | 82 | 79 | 70 | 60 | 58 | 66 |
| Operating Margin | Stable | 9.0% | 10.3% | 10.5% | 8.8% | 8.9% | 8.6% | 7.9% | 7.4% | 7.5% | 8.9% |
| Other Income | Volatile | 15 | 11 | 1 | 14 | 16 | 25 | 18 | 22 | 31 | 28 |
| Interest | Stable | 18 | 18 | 19 | 19 | 18 | 18 | 19 | 19 | 16 | 15 |
| Depreciation | Improving | 42 | 45 | 38 | 37 | 32 | 33 | 27 | 26 | 26 | 27 |
| Profit Before Tax | Accelerating | 64 | 72 | 55 | 47 | 48 | 53 | 42 | 37 | 46 | 52 |
| Tax | Volatile | 13 | 18 | 8 | 11 | 12 | 9 | 8 | 8 | 12 | 16 |
| Net Profit | Accelerating | 51 | 54 | 47 | 36 | 36 | 44 | 33 | 28 | 34 | 36 |
| Net Margin | Stable | 4.2% | 4.5% | 4.4% | 3.5% | 3.9% | 4.8% | 3.8% | 3.5% | 4.5% | 4.9% |
Key Takeaways
- Revenue from operations grew 32.6% YoY to ₹1,223 crore, driven by robust manufacturing demand and increasing LED penetration.
- LED lighting now contributes over 61% of total revenue, with the current order book being 88% LED-based.
- Order book remains healthy at ₹2,200 crore, supported by new wins from Maruti Suzuki, Toyota, and Skoda.
- Operating margins showed YoY improvement despite a 90 bps headwind from foreign exchange volatility in recent quarters.
- Bengaluru plant expansion is progressing as planned with commissioning expected in Q4 FY2027 to support Maruti and Toyota.
- Management maintains a medium-term goal to expand EBITDA margins toward 13% through operational leverage and technology shifts.
Management Guidance
Management expects to grow at twice the rate of the industry in FY2027. Capex guidance for FY2027 is set at ₹100-150 crore, primarily for maintenance and existing facility expansion. EBITDA margins are targeted at 10.5%-11% for the full year, despite input cost volatility.
Sentiment Shift
Improving
Consistently outperforming industry growth rates and maintaining double-digit EBITDA margins despite geopolitical and supply chain headwinds.
Outlook
The company is positioned for sustained growth through high-value LED technology adoption and strong relationships with major OEMs like Hyundai, Maruti, and Mahindra. Risks include West Asia geopolitical tensions affecting freight and commodity costs.
From the Annual Report (Key Quotes)
“This marks the second consecutive quarter of double-digit EBITDA margin supported by a richer LED product mix.”
“Almost 90% of our order book is with LED, which is both in passenger cars as well as in the 2-wheeler segment.”
“We definitely feel that for FY 27, the guidance remains intact to at least grow by twice of that what the industry growth will be.”
Official Quarterly Documents
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This summary is AI-generated from Lumax Industries Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.