Lumax Auto Technologies (LUMAXTECH) Q3 25/26 earnings summary

Executive summary

• Achieved record consolidated revenue of INR 1,271 crore in Q3 FY26, up 40% year-on-year, and INR 3,453 crore for nine months, up 38% year-on-year, driven by strong demand, new product launches, and premiumization trends.

• Full-year revenue growth guidance revised upward from 25% to 30% due to sustained momentum and robust order book, with significant execution visibility through FY29.

• EBITDA margin reached 15% in Q3 FY26, a 100 bps improvement year-on-year, with profit after tax for Q3 and nine months at INR 108 crore and INR 240 crore, up 90% and 60% year-on-year, respectively.

• Strategic focus on premiumization, clean mobility, electronics, software-led solutions, and digital transformation, supported by investments in tech centers and localization.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, with review by statutory auditors and audit committee.

Financial highlights

• Q3 FY26 consolidated revenue: INR 1,271 crore (up 40% YoY); nine months: INR 3,453 crore (up 38% YoY).

• Q3 EBITDA: INR 191 crore; nine months EBITDA: INR 497 crore; Q3 EBITDA margin: 15% (up 100 bps YoY); nine months margin: 14.4%.

• Q3 PAT before minority interest: INR 108 crore (up 90% YoY); nine months: INR 240 crore (up 60% YoY).

• Exceptional item: INR 14.95 crore due to wage code changes.

• Free cash at INR 421 crore; net debt at INR 153 crore; CapEx for nine months: INR 172 crore; full-year guidance: INR 220–240 crore.

Outlook and guidance

• Revenue growth guidance for FY26 revised upward to 30%.

• Targeting minimum 20% CAGR in revenue, 20% EBITDA margin, and 20%+ ROCE for FY26–31.

• Future and clean mobility to contribute 20%+ of revenue by FY31.

• Aftermarket segment expected to achieve 20% growth in the next year.

• Management continues to monitor regulatory changes and expects to provide further accounting effects as clarifications are issued.