Lumax Auto Technologies (LUMAXTECH) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 began with robust revenue and profitability, with consolidated revenue reaching INR 1,364 crores, up 33% YoY, driven by strong demand across all major vehicle segments and increased OEM wallet share.

• EBITDA rose 51% YoY to INR 205 crores with a margin of 15.1%, and PAT before minority interest increased 83% YoY to INR 99 crores, with PAT margin improving to 7.2%.

• The order book stands at INR 1,600 crores, with 24% to be executed in FY27, 56% in FY28, and 20% in FY29.

• Expansion projects include a new Chakan plant for IAC with a capital outlay of Rs. 156.23 crores, a mega mechatronics plant in Manesar, and a new Greenfuel facility in Nashik.

• Strategic focus on clean mobility, premiumization, product diversification, and new technology introduction continues to drive performance.

Financial highlights

• Q1 FY27 revenue: INR 1,364 crores (+33% YoY); EBITDA: INR 205 crores (+51% YoY, margin 15.1%, +190 bps); PAT: INR 99 crores (+83% YoY); EPS: INR 12.7, up 109% YoY.

• Profit before tax (before exceptionals): INR 132 crores (+78% YoY); effective tax rate ~25%.

• Free cash reserves: INR 415 crores; long-term debt: INR 508 crores; net debt: INR 93 crores; debt/equity ratio: 0.32x.

• CapEx in Q1: INR 23 crores; full-year CapEx guidance: INR 300 crores.

• Standalone revenue for Q1 FY27 was Rs. 100,924.81 lakhs, up from Rs. 74,037.43 lakhs in Q1 FY26.

Outlook and guidance

• Guidance for FY27 remains unchanged, with expectations to sustain current margin levels for the rest of the year.

• Long-term target: 20% revenue CAGR from 2025 to 2031, aiming for 20% EBITDA margin and 20% ROCE over the mid-term.

• Full-year aftermarket growth expected to rebound to double digits after a slow Q1.

• The new IAC plant is expected to achieve a peak annualized turnover of Rs. 440 crores post commissioning, with phase 1 by Q4 FY27 and phase 2 by Q1 FY28.