Lumax Industries Ltd.revenue +33%, margin 8.2%, growth guide up

Lumax Industries' Q2 FY27 call, held on 27 October 2026, reported consolidated revenue of ₹1,342 crore, up 33% on the year and 10% on the quarter, against industry production growth of 19%.

EBITDA rose 21% to ₹110 crore, but the margin slipped to 8.2% from 9.0% as the West Asia conflict and elevated electronic component prices raised material costs by about 100 to 120 basis points in H1. Profit after tax including associates rose 46% to ₹52 crore, LED was 63% of H1 revenue and net long-term debt fell to ₹188 crore. The order book is ₹2,580 crore, about 80% LED, with about 60% due in FY28. Management raised FY27 revenue growth guidance to 25% plus from 20% plus and kept a double-digit full-year EBITDA margin, expecting 10.5% to 11% in H2 and warning that further volatility could force a review.

Wallet share is set to rise at Maruti Suzuki, Honda, Toyota Kirloskar, Suzuki two-wheelers and Volkswagen, and capex of ₹200 crore to ₹250 crore is on track.