Lumax Industries Ltd — earnings calls

Lumax Industries reported consolidated revenue of INR 1,223 crore for Q1 FY27, up 32.6% year-on-year, with EBITDA of INR 113 crore and margins of 9.2%. Management attributed the growth to strong performance in the manufacturing business and LED lighting, which accounted for 63% of revenue, while noting a margin impact from commodity cost inflation that had not yet been recovered from OEMs. The company also raised its FY27 capex guidance to INR 200-250 crore due to new order wins and reported an order book of around INR 2,500 crore, approximately 90% LED-based.

Lumax Industries reported record annual revenue, EBITDA and profit for FY26, with revenue growing 23% to Rs 4,184 crore and EBITDA margin improving 130 bps to 9.8%. Q4 FY26 revenue grew 30% year-on-year to Rs 1,200 crore with EBITDA margins reaching 10.4%, marking the second consecutive quarter of double-digit margins. Management discussed the order book, LED penetration trends, capex plans for FY27, and cost pressures from wage increases and raw material volatility.