Lumax Auto Technologies (LUMAXTECH) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 consolidated revenue reached ₹1,027 crore, up 36% YoY, with steady profitability and performance supported by premiumization and diversification across segments.

• Aftermarket revenue grew 16% YoY, with new product launches supporting a 20% growth target for FY26.

• Strategic acquisitions included full ownership of IAC International Automotive India Pvt. Ltd. and 60% of Greenfuel, with new technology centers in Bengaluru and China to be commercialized by Q3 FY26.

• The order book stands robust at INR 1,500 crores, with 40% focused on future and clean mobility solutions.

• Multiple industry awards and recognitions received for innovation, manufacturing excellence, and supplier performance.

Financial highlights

• Q1 FY26 consolidated revenue was ₹1,027 crore (36% YoY growth); EBITDA was ₹136 crores (13.2% margin), and PAT before minority interest was ₹54 crores (5.3% margin), up 30% YoY.

• Free cash reserves stood at ₹359 crore; long-term debt at ₹604 crore, with a debt-equity ratio of 0.63.

• Capex for Q1 was ₹73 crore, including ₹31 crore for Gujarat land; full-year capex guidance is ₹180-200 crore.

• Consolidated EPS for Q1 FY26 was ₹6.08, up from ₹4.65 in Q1 FY25.

• Standalone revenue from operations for Q1 FY26 was ₹36,739.53 lakhs, up from ₹34,185.77 lakhs in Q1 FY25.

Outlook and guidance

• EBITDA margins for H1 FY26 expected between 14%-15%, with Q2 benefiting from price corrections realized post-Q1.

• Capex to remain at ₹180-200 crore for FY26; long-term capex needs to be met through internal accruals and debt.

• Debt-equity ratio expected to decline to 0.45-0.50 by year-end, barring major inorganic moves.

• Targeting minimum 20% revenue CAGR through FY31, aiming to triple revenues by FY31, with no substantial equity raise anticipated.

• Results for Q1 FY26 and Q4 FY25 include Greenfuel operations from November 26, 2024, affecting YoY comparability.