Lumax Industries Limited

NSE: LUMAXIND · Auto Components & Equipments

52W Range₹3,272 ₹6,935

Snapshot

Unlock Lumax Industries Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Lumax Industries Limited is a prominent manufacturer and supplier of automotive lighting systems for diverse vehicle segments, including two-wheelers, three-wheelers, passenger vehicles, and commercial equipment. The company specialises in advanced lighting solutions such as LED lamps, headlamps, and tail lamps for original equipment manufacturers.

Business Model

The company generates revenue by designing, manufacturing, and supplying high-quality automotive lighting components directly to original equipment manufacturers (OEMs). It leverages long-standing industry relationships and technical expertise to maintain its position in the automotive supply chain.

Growth Outlook

Growth is driven by the increasing adoption of advanced LED lighting technology and the rising demand for premium features in the Indian automotive market. Expansion into new vehicle platforms and sustained partnerships with major OEMs support the company's long-term development.

Key Risks

  • Cyclicality of Automotive Industry. The company's performance is highly sensitive to fluctuations in automotive production volumes and consumer demand for new vehicles.
  • Raw Material Price Volatility. Fluctuations in the costs of plastics, metals, and electronic components can significantly impact operating margins.
  • Technological Obsolescence. Rapid advancements in automotive lighting technology require continuous investment in R&D to remain competitive against global peers.
  • Customer Concentration. Heavy reliance on a limited number of large automotive OEMs exposes the company to risks associated with the business performance of its key clients.

Price

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Key Metrics

P/E

28.8x

Q4 FY26 · consolidated

28.8 vs 71.7x5Y avg

EV/EBITDA

14.0x

Q4 FY26 · consolidated

14.0 vs 24.4x5Y avg

NET PROFIT MARGIN

4.5%

Q4 FY26 · consolidated

-0.3 ppYoY

DEBT TO EQUITY

0.9x

Q4 FY26 · consolidated

-0.12xYoY

Peers · Auto Components & Equipments

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Lumax Industries LimitedLUMAXIND
4,69628.8213.969.8%21.3%19.2%+40.5%
L.G. Balakrishnan & Bros LimitedLGBBROSLTD
5,48515.749.3819.3%18.0%16.2%21.3%+17.7%
Fiem Industries Ltd.FIEMIND
5,30123.8013.9316.2%14.8%23.6%30.1%+18.8%
S.J.S. Enterprises LimitedSJS
5,03439.6323.7125.6%30.2%23.7%30.1%+72.7%
Jamna Auto Industries LimitedJAMNAAUTO
4,75823.1112.9715.0%15.5%22.4%31.1%+39.2%
Sharda Motor Industries LimitedSHARDAMOTR
4,43311.209.7019.7%14.9%30.7%38.8%-19.8%

As of Q4 FY26

Financials