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Lumax Industries

LUMAXIND NSE
₹5,294.20 No trade today
P/E
26.41
View as Markdown
MCP
Close 4 Nov 2026 ₹5,294.20 +453.00 +9.36% 1Y
Start ₹4,841.20

Key Fundamentals

MicrocapAuto ComponentsConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
17.70%
Debt to Equity
1.06
EPS (TTM)
₹200.45
Book Value
₹1,037.03
Market Cap
—
P/E (TTM)
26.41
P/B
5.11
ROE
22.00%
Dividend Yield
1.05%
EBITDA
₹412 Cr
52W High
₹6,934.50
52W Low
₹4,480.00
Volume
0

Peer Comparison

Consumer Discretionary › Automobiles › Auto Components › Auto Components & Equipments

Lumax Industries peer comparison
Samvardhana Motherson International
₹159.4938.43₹1,68,660 Cr3.980.37%11.20%13.40%₹1,31,135 Cr₹4,556 Cr
Bosch
₹50,925.0063.56₹1,48,351 Cr10.110.54%14.60%21.50%₹21,088 Cr₹2,363 Cr
Bharat Forge
₹1,812.80122.74₹86,739 Cr7.650.48%12.00%12.60%₹17,543 Cr₹715 Cr
UNO Minda
₹1,196.9057.49₹67,494 Cr10.130.24%19.30%19.60%₹20,725 Cr₹1,291 Cr
Sona BLW Precision Forgings
₹893.7074.48₹56,293 Cr8.700.38%11.70%15.10%₹4,514 Cr₹746 Cr
Schaeffler India
₹3,507.2042.47₹55,555 Cr8.920.99%20.80%27.90%₹10,192 Cr₹1,292 Cr
Tube Investment
₹2,250.5071.81₹42,644 Cr5.620.16%9.95%17.10%₹23,754 Cr₹1,109 Cr
Lumax Industries (this company)
₹5,294.2026.41₹4,917 Cr5.111.05%22.00%17.70%₹4,485 Cr₹188 Cr
Median 8 companies₹2,031.6560.53₹61,893 Cr8.180.43%13.30%17.40%₹19,134 Cr₹1,200 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

60 Good

Data confidence 100/100

Category scores

Quality
66
Good
Returns, margins, earnings quality 22% weight
Valuation
53
Average
Cheap vs sector & own history 24% weight
Growth
77
Strong
Sales & profit trajectory 9% weight
Financial Health
28
Poor
Solvency, leverage, coverage 9% weight
Momentum
37
Weak
Trend strength, vol-adjusted 12% weight
Ownership
82
Strong
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has delivered good profit growth of 61.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 27.6%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBearish261
Moving AveragesNeutral505

Key readings

RSI (14)
48.35
Neutral
MACD (12,26,9)
−124.11
Bullish
SMA (50)
5,642.16
Bearish
SMA (200)
5,448.19
Bearish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+12.82%
5Y+24.02%
3Y+21.72%
1Y+23.06%
TTM+26.52%

Net profit

Net profit growth by window
10Y+12.71%
5Y+57.05%
3Y+18.64%
1Y+22.86%
TTM+33.33%

Operating cash flow

Operating cash flow growth by window
10Y+16.50%
5Y+37.46%
3Y+51.16%
1Y+75.94%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+2.59 pp
5Y+2.69 pp
3Y+0.73 pp
1Y+1.46 pp
TTM+1.47 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,271 Cr
Mar 2018₹1,649 Cr
Mar 2019₹1,851 Cr
Mar 2020₹1,602 Cr
Mar 2021₹1,426 Cr
Mar 2022₹1,751 Cr
Mar 2023₹2,320 Cr
Mar 2024₹2,637 Cr
Mar 2025₹3,400 Cr
Mar 2026₹4,184 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹54.00 Cr
Mar 2018₹71.00 Cr
Mar 2019₹104 Cr
Mar 2020₹72.00 Cr
Mar 2021₹18.00 Cr
Mar 2022₹41.00 Cr
Mar 2023₹103 Cr
Mar 2024₹111 Cr
Mar 2025₹140 Cr
Mar 2026₹172 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹117 Cr −8.0% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

Lumax Industries Ltd is a leading automotive lighting systems manufacturer with a market cap of ~₹5,013 crore, trading at a PE of 28.9x. The company has delivered strong compounded profit growth of 62% CAGR over 5 years and FY26 consolidated revenue of ₹4,184 crore (up 23% YoY), with Q4 FY26 net profit rising 23% YoY to ₹54.1 crore.

Bull Case 8
  • Exceptional 5-year compounded profit CAGR of 62%, significantly outpacing the broader auto components sector
  • FY26 consolidated revenue reached ₹4,184 crore, growing 23% YoY from ₹3,400 crore in FY25, demonstrating consistent top-line momentum
  • Operating profit margin improved to 9.67% in FY26 from 8.19% in FY25, a 148 bps expansion indicating better operating leverage
  • ROE has improved from 17% (10-year average) to 22% in the last year, reflecting efficient capital deployment
  • Stock has delivered 29% CAGR over 5 years and 36% CAGR over 3 years, consistently compounding shareholder wealth
  • Healthy dividend payout ratio of 27.6% with a current dividend yield of 1.03%, offering income alongside growth
  • Q4 FY26 revenue surged 30.4% YoY to ₹1,200 crore, indicating accelerating growth momentum in the most recent quarter
  • 3-year compounded sales growth of 22% demonstrates sustained demand tailwinds from Indian automotive industry expansion
Bear Case 7
  • Debt-to-equity ratio stands at 1.06x, relatively elevated for an auto ancillary company and up from lower levels historically
  • Interest costs rose sharply to ₹74 crore in FY26 from ₹47.9 crore in FY24, a 54% increase in two years, pressuring net margins
  • Net profit margin remains modest at approximately 4.1% (₹172 crore PAT on ₹4,184 crore revenue), typical of auto ancillaries but limiting earnings quality
  • Price-to-book ratio of 5.44x implies the stock is priced for continued high growth, creating downside risk if growth decelerates
  • Depreciation expense jumped to ₹151.7 crore in FY26 from ₹92.9 crore in FY24 (63% increase), reflecting heavy capex that needs sustained revenue to justify
  • Tax rate volatility — ranging from 26% in FY22 to 48% in FY24 and back to 30% in FY26 — creates earnings unpredictability
  • Concentration risk as a lighting-focused auto ancillary tied predominantly to Indian OEM production cycles and model launches

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: No material headwinds were identified in the recent news flow, and promoter shares remain fully unencumbered. The near-term trend appears constructive as long as the stock holds above the ₹4,970 stop-loss level and the broader market sustains above its 50-DMA.

Positives 2
  • Broad auto sector rally Jun 16

    Nifty Auto index rose 2.60% on Monday as US-Iran peace deal sent Brent crude below $85, easing inflation concerns and boosting cyclical sectors.

  • Bullish market technicals Jun 16

    Nifty 50 rose 0.98% to 23,853.90, reclaiming its 50-DMA with RSI at 56.3 and a bullish MACD crossover, with 24,000 as the next key resistance level.

Neutral 1
  • Promoter shareholding unencumbered Jun 13

    Promoter Anmol Jain declared no encumbrance on 35,05,399 shares (37.50% stake) of Lumax Industries as of March 31, 2026, indicating no pledging risk.

Quarterly Results

₹ Cr
LUMAXIND quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
618
644
632
743
766
812
887
923
923
1,009
1,053
1,200
1,223
1,342
Expenses
567
589
573
677
708
752
817
844
841
920
942
1,076
1,114
1,232
Operating Profit
51
55
58
66
58
60
70
79
82
89
111
124
110
110
OPM %
8%
9%
9%
9%
8%
7%
8%
9%
9%
9%
11%
10%
9%
8%
Other Income
14
15
13
28
31
22
18
25
16
14
1
11
15
17
Interest
10
11
13
15
16
19
19
18
18
19
19
18
18
19
Depreciation
21
21
24
27
26
26
27
33
32
37
38
45
42
38
PBT
34
38
35
52
46
37
42
53
48
47
55
72
64
70
Tax %
32%
31%
27%
31%
26%
23%
19%
18%
25%
24%
15%
25%
20%
25%
Net Profit
23
26
26
36
34
28
33
44
36
36
47
54
51
52
EPS (₹)
24.73
28.08
27.37
38.59
36.57
30.25
35.82
47.04
38.72
38.13
49.8
57.88
54.64
—

Sep 2026: from the results filed on 26 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
LUMAXIND profit and loss, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,252
1,271
1,649
1,851
1,602
1,426
1,751
2,320
2,637
3,400
4,184
4,485
Expenses
1,164
1,170
1,515
1,698
1,443
1,326
1,616
2,112
2,405
3,120
3,778
4,052
Operating Profit
89
101
135
154
158
100
135
208
231
280
406
433
OPM %
7%
8%
8%
8%
10%
7%
8%
9%
9%
8%
10%
10%
Other Income
4
17
19
57
19
27
3
51
70
84
43
41
Interest
13
11
8
16
22
29
22
30
49
73
75
74
Depreciation
38
41
48
60
64
65
64
80
93
113
152
162
PBT
41
65
98
134
92
33
53
149
159
178
223
238
Tax %
10%
16%
27%
23%
22%
45%
23%
31%
30%
21%
22%
—
Net Profit
52
54
71
104
72
18
41
103
111
140
172
187
EPS (₹)
55.66
58.16
76.34
111
76.92
19.42
43.56
110
119
150
185
200
Div. Payout %
22%
25%
30%
32%
31%
36%
31%
24%
29%
23%
30%
—

Balance Sheet

₹ Cr
LUMAXIND balance sheet, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9
9
9
9
9
9
9
9
9
9
9
Reserves
259
300
353
426
437
451
482
574
662
765
908
Borrowings
127
92
104
140
347
338
401
431
723
888
973
Other Liabilities
463
478
751
615
490
564
654
852
1,207
1,199
1,544
Total Liabilities
859
880
1,217
1,190
1,283
1,362
1,546
1,866
2,601
2,861
3,435
Fixed Assets
408
419
518
549
653
627
711
749
968
1,106
1,434
CWIP
17
20
34
50
32
47
48
43
178
212
105
Investments
69
79
88
81
90
92
102
147
179
246
278
Other Assets
365
362
577
510
508
596
685
927
1,276
1,297
1,619
Total Assets
859
880
1,217
1,190
1,283
1,362
1,546
1,866
2,601
2,861
3,435

Cash Flow

₹ Cr
LUMAXIND cash flow, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
81
100
140
104
103
76
108
108
133
212
373
Investing
−37
−62
−128
−97
−194
−31
−129
−90
−245
−293
−265
Financing
−59
−39
−11
−6
96
−51
34
−26
137
59
−92
Net Cash Flow
−15
−2
1
1
6
−5
13
−8
24
−22
16
Free Cash Flow
43
37
8
−8
−63
14
−21
19
−124
−110
86
CFO/OP
101
110
117
89
75
72
87
64
64
81
103

Ratios

LUMAXIND financial ratios, annual
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
53
55
70
44
39
55
48
48
48
50
55
Inventory Days
45
52
57
61
75
94
91
96
129
92
90
Days Payable
135
146
180
114
131
159
163
141
154
147
145
Cash Conversion Cycle
−36
−39
−53
−9
−17
−9
−24
3
22
−6
0
Working Capital Days
−58
−54
−57
−49
−78
−75
−60
−38
−49
−44
−45
ROCE %
—
19%
24%
22%
17%
8%
11%
19%
17%
16%
18%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Lumax Industries insights

64 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 75.00%
  • Public 12.42%
  • DIIs 7.70%
  • Others 3.15%
  • FIIs 1.73%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Lumax Industries

What does Lumax Industries Ltd do?
Lumax Industries Limited is the flagship company of the DK Jain Group. It was founded as a trading company in 1945 and today it has evolved as market leader of automobile lighting in the Indian automotive industry.
Where is Lumax Industries Ltd (LUMAXIND) listed?
Lumax Industries Ltd trades as LUMAXIND on the NSE and under code 517206 on the BSE.
Which sector does Lumax Industries Ltd belong to?
Lumax Industries Ltd is classified under the Automobiles sector, in the Auto Components industry.
What is the PE ratio of Lumax Industries Ltd?
Lumax Industries Ltd trades at a PE ratio of 26.41 as of 4 Nov 2026, on earnings per share of ₹200.45, against a book value of ₹1,037.03 per share.
What is the 52-week high and low of Lumax Industries Ltd?
Over the last 52 weeks Lumax Industries Ltd has traded between ₹4,480 and ₹6,934.5 as of 4 Nov 2026.
Does Lumax Industries Ltd pay dividends?
Lumax Industries Ltd has a dividend yield of 1.05%.
What is the Return on Equity (ROE) of Lumax Industries Ltd?
Lumax Industries Ltd reported a return on equity of 22.00%. Its debt-to-equity ratio is 1.06.

Company Information

Lumax Industries Limited is the flagship company of the DK Jain Group. It was founded as a trading company in 1945 and today it has evolved as market leader of automobile lighting in the Indian automotive industry. In 1984, company entered into a technical collaboration with Stanley Electric Co. Ltd., Japan (SECL), which currently holds around 37.5% equity stake in the company. Other 37.5% is held by Indian promoters (D.K. Jain and family). Company has 29 manufacturing facilities across 7 states in India.

Website lumaxindustries.com
CEO Mr. Deepak Jain BBA
Employees 2,935
Listed 6 Sep 1995
Face Value ₹10

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