Lumax Auto Technologies (LUMAXTECH) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue was ₹1,55,550.53 lakh and PAT was ₹11,667.11 lakh, versus ₹1,15,636.22 lakh and ₹7,755.54 lakh in Q2 FY26; revenue rose 35% and PAT 50%.

• H1 FY27 revenue reached ₹2,91,912.10 lakh and PAT ₹21,530.76 lakh, up 34% and 64% YoY; EBITDA rose 42% to INR 433.6 crore.

Financial highlights

• Q2 FY27 EBITDA was INR 228.2 crore, up 34%; PBT before exceptional items was ₹15,424.39 lakh, versus ₹10,433.41 lakh YoY.

• H1 FY27 PBT before exceptional items was ₹28,629.02 lakh, versus ₹17,857.10 lakh YoY; Q2 and H1 diluted EPS were ₹15.48 and ₹28.19, versus ₹9.81 and ₹15.89.

• Q2 EBITDA margin was 14.7%, flat YoY; H1 margin was 14.9%, up 84 bps YoY. H1 PAT margin before minority interest was 7.4%, up 135 bps.

• H1 operating cash flow was ₹32,292.77 lakh, compared with ₹32,174.31 lakh in H1 FY26; closing cash was INR 82.2 crore.

Outlook and guidance

• FY27 revenue growth guidance is 20%-25% YoY, implying revenue close to INR 6,000 crore; H2 growth is expected at 15%-20% on a higher base.

• FY28 EBITDA target is ~INR 1,000 crore versus INR 500 crore in FY25; FY31 revenue target is ~INR 11,000 crore, including ~INR 8,500 crore organic revenue.

• Long-term targets include minimum 20% revenue CAGR from FY25 to FY31, EBITDA margin above 20%, ROCE above 20% by FY28, and future and clean mobility above 20% of revenue by FY31.

• Order book of INR 1,879 crore is scheduled for phased execution: INR 258 crore in FY27, INR 1,117 crore in FY28 and INR 504 crore in FY29; ~85% is new business.