Lumax Industries Ltd

Financial Performance

• Consolidated revenue: INR 1,223 crore, up 32.6% YoY.
• EBITDA: INR 113 crore; margin 9.2%.
• PAT: INR 51 crore; PAT margin 4.2%.
• Tax rate: 20.3%.
• LED lighting accounted for 63% of revenue.
• Order book around INR 2,500 crore; LED-based ~90%.
• Net long-term debt: INR 209 crore as of 30 Jun 2026.
• Capex for FY27 guided INR 200–250 crore.

Segment & Orders

• Revenue mix: 64% Passenger Vehicles; 31% 2- and 3-Wheelers; 5% Commercial Vehicles and others.
• Front lighting 68% of revenue; rear lighting 23%; others 9%.
• Maruti revenue 43% YoY; Tata Motors 68% YoY.
• EV order-book share ~12%.
• 2W OEMs include HMSI, Hero, Suzuki, Yamaha, TVS.

Capex & Capacity

• Bengaluru plant expansion for Maruti/Toyota models; commissioning Q4 FY27.
• Sanand and Bawal brownfield projects underway.
• FY27 mould revenue: INR 250–300 crore; FY26 mould revenue: INR 180–185 crore.
• FY28 capex guidance: INR 150–200 crore.
• 60% of order book to SOP in FY28 (~₹1,500 crore).

Outlook & Guidance

• Demand expected to stay healthy into festive season; watch commodity prices and geopolitics.
• Long-term EBITDA target ~13% by FY30–31; ~100 bps annual uplift.
• 3–5 year CAGR guidance: 15–20% revenue growth.
• Q2 EBITDA margin expected to be higher than Q1; realizations to be recognized in Q2.

Q&A Highlights

• Others segment primarily includes Škoda/Volkswagen; other 2W customers also served.
• OEM amendments: monthly amendments discussed; industry largely preferring quarterly/6-month adjustments.
• Lighting is powertrain agnostic; BEV content uplift feasible in next 2–3 years.
• Mould revenue profile: majority expected in H2 (Q3/Q4) of FY27.
• Mahindra wallet share around 40–50%; HMSI focus expected to rise in FY28.
• Capex mix driven by order wins; mould revenue visibility supports capex expansion.

Meeting Details

• Date: August 11, 2026.
• Type/Mode: Earnings conference call; virtual.
• Event organiser: Lumax Industries Limited earnings conference call.
• Purpose: Discuss Q1 FY2026 operational and financial performance.
• Key participant: Executive Director & Company Secretary.
• Availability: Audio recording and transcript on company website.

Senior Management Appointments

• C S Singh appointed Senior Management Personnel, CTO-4W; effective July 20, 2026.
• Suva Ranjan Das appointed Senior Management Personnel, CTO-Electronics & Technologies; effective July 20, 2026.
• Suveer Sheopuri appointed Senior Management Personnel, Business Marketing Head – 2W Vertical; effective July 20, 2026.
• Pramod Saini appointed Senior Management Personnel, Business Marketing Head - 4W (Group 2); effective July 20, 2026.

Cessation

• Norihisa Sato ceased as Senior Management Personnel, EVP - Global Relations; effective July 20, 2026 due to restructuring.

Dividend and tax withholding details

• Final dividend of Rs 55 per equity share for FY2025-26, subject to AGM approval.
• AGM scheduled Aug 26, 2026; record date Aug 6, 2026 for entitlement.
• Dividend taxable; company to withhold TDS at prescribed rates by shareholder category.
• Resident individuals not taxed if FY2026-27 total dividend ≤ ₹10,000.
• Document submissions by Aug 3, 2026 to determine applicable TDS rate.
• FIIs/FPIs: 20% or DTAA rate; other categories require declarations.
• Electronic dividend payments for physical holders; update PAN, bank details, signature.

AGM date and record date updated

• 45th AGM scheduled for August 26, 2026 via VC/OAVM.
• Cut-off date for voting eligibility moved to August 20, 2026.

Dematerialisation status

• Securities received for dematerialisation during quarter ended June 30, 2026 were processed and listed on stock exchanges.
• Certificates for dematerialisation were mutilated and cancelled; depository's name substituted as registered owner within 15 days.
• All dematerialisation requests were confirmed to depositories as accepted or rejected.