Lumax Auto Technologies LimitedAutomobilesLUMAXTECH
Q1 FY27 concall · earnings callLumax Auto Technologies Limited
Lumax Auto Technologies started FY27 with strong revenue and margin growth, driven by broad-based demand across vehicle segments and successful execution of its premiumization and localization strategy.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹1,364 Cr | 33% y-o-y | |
| EBITDA | ₹205 Cr | 51% y-o-y | |
| EBITDA Margin | 15.1% | 190 bps expansion y-o-y | |
| Profit After Tax | ₹99 Cr | 83% y-o-y | |
| Order Book | ₹1,600 Cr | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹905.60 Cr+23.6% YoY+7.5% QoQ | ₹56.03 Cr+16.9% YoY+8.2% QoQ | ₹6.58+23% YoY+4.6% QoQ |
| Q2 FY25 | ₹842.26 Cr+20.3% YoY+11.4% QoQ | ₹51.80 Cr+37.8% YoY+24.4% QoQ | ₹6.29+56.5% YoY+35.3% QoQ |
| Q1 FY25 | ₹755.93 Cr+19.7% YoY-0.2% QoQ | ₹41.65 Cr+38.4% YoY-18.9% QoQ | ₹4.65+43.1% YoY-28.4% QoQ |
| Q4 FY24 | ₹757.38 Cr+53.5% YoY+3.4% QoQ | ₹51.34 Cr+116.4% YoY+7.1% QoQ | ₹6.49+136.9% YoY+21.3% QoQ |
| Q3 FY24 | ₹732.48 Cr+64.5% YoY+4.6% QoQ | ₹47.95 Cr+71.9% YoY+27.6% QoQ | ₹5.35+56% YoY+33.1% QoQ |
TL;DR
- Q1 revenue grew 33% y-o-y to INR 1,364 crore, with EBITDA up 51% and margins expanding 190 bps to 15.1%.
- Order book stands at INR 1,600 crore, with visibility into FY29.
- Advanced Plastics division led growth with a 47% y-o-y increase, followed by Mechatronics (56%) and other segments.
- Management is focusing on intelligent and connected vehicle components, with five new products in the pipeline.
- Full-year capex guidance is INR 300 crore, to be funded primarily from internal accruals.
Said on the call
“This performance is a direct outcome of our disciplined execution of the strategy and sustained focus on innovation, premiumization and deeper alignment with high growth mobility platforms.”
From the Q&A
| Topic | What management said |
|---|---|
| Guidance Revision | Management maintains existing guidance despite strong Q1, noting H2 growth rates will moderate due to a higher base post GST rationalization last year. |
| Margin Sustainability | Current margins are sustainable due to back-to-back price pass-through arrangements for raw materials like plastics, and low exposure to inflationary electronic components. |
| Greenfuel Margins | Q1 EBITDA margin of 23% included a ~INR 3 crore one-off tooling revenue; normalized operational margin is around 20%, expected to be sustainable. |
| Growth Drivers (Bajaj Auto) | Strong revenue growth from Bajaj Auto (64% y-o-y) is driven by wallet share expansion, entry into new models, and growth in platforms like Chetak. |
| Mechatronics Division Ambition | Aiming for revenue of ~INR 400 crore this fiscal and ~INR 1,000 crore by FY31; steady-state EBITDA margin for the vertical is guided at 14-15% over the next 12-24 months. |
| Capex and Funding | Full-year capex guidance is INR 300 crore, majority to be funded from internal accruals, with ~10-12% for specific JVs/subsidiaries to be debt-funded. |
| 20% Margin Vision | The 20% margin is a direction to inch closer to, not a firm target; margin expansion will come from premiumization, localization, and new technology products. |
Guidance
- Revenue: Aiming for a 20% CAGR from FY25 to FY31.
- EBITDA Margin: Targeting to inch closer to 20% over the next 5-7 years; FY28 target is around 15.5-16% inclusive of other income.
- Capex: INR 300 crore for FY27.
- Mechatronics: Expecting ~INR 400 crore revenue in FY27 and ~INR 1,000 crore by FY31.
- Tax Rate: Effective tax rate expected to remain around 25%.
- Minority Interest: Expected to remain in the 11-13% range.
Source
Summary written from the transcript filed by Lumax Auto Technologies Limited for the call held on 11 Aug 2026; published 21 Aug 2026, 23:26 IST.
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