Lumax Industries Limited · NSE:LUMAXIND
Lumax Industries — Q2 FY27 Earnings Presentation
44 slides from Lumax Industries's earnings presentation, Sep 30, 2026
Slide 1: Lumax Industries Limited Q2 & H1 FY27 Investor Presentation
[ [ [ Lumax Industries Limited Q2 & H1 FY 27 Investor Presentation [ [
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Lumax Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 3: Contents
Contents 01 Who We Are: Lumax Group & Lumax Industries 4 02 Strategy, Technology & Leadership 15 03 Q2 & H1 FY27 Operational & Financial Performance 22 04 ESG & CSR Initiatives 36 05 Awards & Accolades 40 06 Glossary 43 Evolving, Innovating, Transforming For Tomorrow 3
Slide 4: Who We Are: Lumax Group & Lumax Industries
Who We Are Lumax Group & Lumax Industries
Slide 5: Lumax Group: A Legacy of Innovation, A Future of Transformation
Lumax Group A Legacy of Innovation, A Future of Transformation 8 Decades of Group Legacy 4 Decades of Lumax Industries Evolving, Innovating, Transforming For Tomorrow 5
Slide 6: A New Era
A New Era HERITAGE STABILITY WARMTH PASSION POSITIVITY ENERGY - Amalgamation of our eight-decade legacy & our eternal existence - Seamless and smooth transition over three generations - Shows the lineage of our Brand’s ethos across each era Evolving, Innovating, Transforming For Tomorrow 6
Slide 7: Lumax Group at a Glance
Lumax Group at a Glance 8 41 8 10 7 15,000+ INR ~12,000 Cr Decades of Manufacturing States in India Partnerships Design, R&D, engineering Employees Lumax brand revenue, FY26 legacy facilities & tech centres Lumax Industries Limited (LIL) Lumax Auto Technologies Limited (LATL) Listed on BSE & NSE Lis
Slide 8: Lumax Group: Our Purpose, Vision and Values
Lumax Group: Our Purpose, Vision and Values Our Purpose Our Vision Our Values Evolving, Innovating, Transforming For Tomorrow 8
Slide 9: Lumax Group: Journey over the Years
Lumax Group: Journey over the Years 1945–1955 1975–1985 1995–2005 2015–2023 • Founded ‘Globe Auto Industries’ • Lumax Industries Pvt Limited • Lumax Industries JV with SL • JVs with FAE, Spain; Ituran, Israel; as a trading partnership firm established from Globe Auto Corporation, Korea (1997) Yokowo
Slide 10: Lumax Industries Limited (LIL) at a Glance
Lumax Industries Limited (LIL) at a Glance FY26 INR 4,184 Cr INR 412 Cr INR 173 Cr INR 410+ Cr 24% Financial Revenue EBITDA (9.8% margin) PAT Capex Revenue CAGR, FY22– highlights FY26 Revenue mix by product, FY26 69% 22% 9% 12 2 2 50 Front lighting (69%) Rear lighting (22%) Others (9%) Manufacturing
Slide 11: LIL: Journey over the Years
LIL: Journey over the Years 1945–1979 1980–1989 1990–1999 2000–2009 2010–2014 2015–2019 2020–2023 2024–2026 1945 1981 1994 2003 2010 2016 2020 2025 Founded ‘Globe Lumax Industries Equity Demerger of Haridwar, Design centre in Electronics & HVAC Bengaluru – first Auto Industries’ as Pvt Limited parti
Slide 12: Global Partnerships with Stanley Electric and SL Corporation
LIL: Global Partnerships with Stanley Electric and SL Corporation 1984 Stanley Electric 1997 SL Corporation Japan Korea JV for lighting, HVAC panels and other electronics JV for lighting and other automotive parts 37.5% in Lumax Industries Limited 21.28% in SL Lumax Limited • A strong, four-decade r
Slide 13: Strategic Manufacturing Locations in Proximity to Customers
LIL: Strategic Manufacturing Locations in Proximity to Customers Taiwan Czech Republic 12 6 2 2 Design centre LETC Manufacturing plants States R&D centres Overseas design centres 2 3 State Locations Plants Haryana Dharuhera, Bawal, Bawal Electronics Facility 3 Maharashtra Chakan II, Chakan III, Chin
Slide 14: Five Years of Profitable Growth: Revenue 2.4x
LIL: Five Years of Profitable Growth: Revenue 2.4x Revenue (INR Cr) EBITDA (INR Cr) EBITDA Margin (%) +230 bps 24% CAGR 33% CAGR 4,184 412 10.1% 9.8% 9.3% 8.7% 3,400 295 7.5% 2,637 266 2,320 217 1,751 131 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 CAGR = compound annu
Slide 15: Our Pillars of Growth
LIL: Our Pillars of Growth 01 Accelerate LED Revenue Mix to 65–70% 02 Win EV Platform Design-Ins 03 Deepen LED Localisation ADB, sequential indicators Embed Lumax lighting and Localise LED driver modules, 65–70% and animated LED signatures 11% electronics at the concept 50%+ building on 70% PCB Targ
Slide 16: Case Study – Our LED Journey with a Leading OEM
LIL: Case Study – Our LED Journey with a Leading OEM As Leading OEM moved up the value chain, Lumax moved with it – from conventional lamps to ADB headlamp, raising content per vehicle at every step 01 Conventional 02 The LED Shift 03 Intelligent Lighting THE SAME SHIFT, COMPANY-WIDE Where we starte
Slide 17: In-house Technological Developments
LIL: In-house Technological Developments OLED Rear Lamps w/ Animation Low Cost LED Headlamp Modules Ultra Homogenous Lux-LED Signal Portfolio of Low-Profile Headlamp Lamps Projector Modules Matrix (ADB) Headlamp Module and Grille Lighting with Animation / Image Projection Modules Innovative Interior
Slide 18: Lighting Technology Roadmap
LIL: Lighting Technology Roadmap Technology Evolution • Slim Line Modules including 1 row A) • Illuminated logos, grilles & letters • Micro optics foils or • ADAS Sensor Integration molded structures • MEMS or DLP road • MEMS or DLP ADB & AFS • Night Vision Systems projections • MLA (Lumax version,
Slide 19: In-house R&D and Validation Facility
LIL: In-house R&D and Validation Facility Evolving, Innovating, Transforming For Tomorrow 19
Slide 20: Upholding Excellence in Corporate Governance
LIL: Upholding Excellence in Corporate Governance Board of Directors PROMOTER GROUP NOMINEE DIRECTORS · STANLEY ELECTRIC, JAPAN Mr. Dhanesh Kumar Jain Mr. Deepak Jain Mr. Anmol Jain Mr. Tadayoshi Aoki Mr. Tomohiro Kondo Mr. Kenjiro Nakazono Chairman Emeritus Chairman Managing Director Senior Executi
Slide 21: Visionary Leadership Team
LIL: Visionary Leadership Team Management Team Mr. Raju B Ketkale Mr. Sanjay Mehta Chief Executive Officer Group CFO Experience: 30+ years Experience: 30+ years Mr. Raajesh Kumar Mr. Ravi Teltia Gupta Executive Director & Chief Financial Officer Company Secretary Experience: 30+ years Experience: 25
Slide 22: Q2 & H1 FY27 Operational & Financial Performance
Q2 & H1 FY27 Operational & Financial Performance
Slide 23: Management Commentary
LIL: Management Commentary “ Commenting on the performance, Mr. Deepak Jain, Chairman, Lumax Industries Limited said, “We have delivered a strong first half of FY27, with Q2 revenues growing by 33% year-on- year, outpacing broader industry trends. This performance was driven by new programme launche
Slide 24: Q2 & H1 FY27 Consolidated Snapshot – Q2 Revenue up 33% YoY
LIL: Q2 & H1 FY27 Consolidated Snapshot – Q2 Revenue up 33% YoY Revenue (INR Cr) EBITDA (INR Cr) PAT (INR Cr) +33% +27% +43% 2,565 223 103 +33% 1,931 +21% 175 +46% 72 1,342 110 52 1,009 91 36 Q2FY26 Q2FY27 H1FY26 H1FY27 Q2FY26 Q2FY27 H1FY26 H1FY27 Q2FY26 Q2FY27 H1FY26 H1FY27 EBITDA Margin (%) PAT Ma
Slide 25: Order Book – INR 2,580 Cr, 88% LED and 11% EV
LIL: Order Book – INR 2,580 Cr, 88% LED and 11% EV INR 2,580 Cr Total order book LED vs Conventional EV vs Non-EV PV vs 2W & 3W 12% 11% 37% 63% 88% 89% LED Conventional EV Non-EV PV 2W & 3W ~88% of the order book is LED lighting; EV programmes account for ~11% Evolving, Innovating, Transforming For
Slide 26: H1FY27 Segment-wise Revenue – LED Share at 63%
LIL: H1FY27 Segment-wise Revenue – LED Share at 63% LED vs Conventional Vehicle Segment Mix Product Mix 6% 9% 39% 29% 22% H1FY26 H1FY26 H1FY26 61% 65% 69% 6% 10% 37% 31% 22% H1FY27 H1FY27 H1FY27 63% 63% 68% LED Conventional Passenger Vehicle 2W and 3W CV & Others Front Lighting Rear Lighting Others
Slide 27: Q2FY27 Revenue Mix Among Customers
LIL: Q2FY27 Revenue Mix Among Customers Customer-wise sales, Q2FY26 (INR 976 Cr)* Customer-wise sales, Q2FY27 (INR 1,300 Cr)* 21 (2%) 29 (3%) 29 (2%) 78 24 (2%) 8% 40 (3%) 154 12% 325 260 41 (3%) 27% 25% 81 8% 84 (6%) 58 6% 103 82 8% 210 9% 196 16% 20% 149 147 12% 165 15% 13% MSIL/SMG M&M HMSI Tata
Slide 28: H1FY27 Revenue Mix Among Customers
LIL: H1FY27 Revenue Mix Among Customers Customer-wise sales, H1FY26 (INR 1,824 Cr)* Customer-wise sales, H1FY27 (INR 2,460 Cr)* 28 (2%) 39 (2%) 55 (2%) 158 288 57 (3%) 71 (3%) 9% 12% 474 631 103 (6%) 76 (3%) 26% 26% 160 (7%) 139 7% 175 161 7% 397 9% 372 16% 20% 281 293 11% 326 16% 13% MSIL/SMG M&M H
Slide 29: Standalone Profit & Loss Statement
LIL: Standalone Profit & Loss Statement Particulars (INR Cr) Q2FY27 Q2FY26 Y-o-Y Q1FY27 Q-o-Q H1FY27 H1FY26 Y-o-Y Manufacturing Revenue 1,300.4 976.1 1,159.8 2,460.2 1,823.9 Moulds Revenue 41.5 32.5 63.5 104.9 107.2 Total Operating Revenue 1,341.8 1,008.6 33.0% 1,223.2 9.7% 2,565.1 1,931.1 32.8% Oth
Slide 30: Standalone Balance Sheet
LIL: Standalone Balance Sheet ASSETS (INR Cr) Sep-26 Mar-26 EQUITY & LIABILITIES (INR Cr) Sep-26 Mar-26 Non-current assets Equity Property, plant and equipment 1,250.3 1,255.9 Equity Share capital 9.3 9.3 Capital work-in-progress 180.0 104.9 Other equity 744.2 704.1 Right of use assets 156.9 151.0 S
Slide 31: Standalone Cash Flow Statement
LIL: Standalone Cash Flow Statement Particulars (INR Cr) Sep-26 Sep-25 PBT 117.7 68.6 Adjustments 101.0 105.7 Operating profit before working capital changes 218.7 174.3 Changes in working capital (76.2) (41.5) Cash generated from operations 142.5 132.8 Direct taxes paid (net of refund) 22.8 18.1 Ne
Slide 32: Consolidated Profit & Loss Statement
LIL: Consolidated Profit & Loss Statement Particulars (INR Cr) Q2FY27 Q2FY26 Y-o-Y Q1FY27 Q-o-Q H1FY27 H1FY26 Y-o-Y Manufacturing Revenue 1,300.4 976.1 1,159.8 2,460.2 1,823.9 Moulds Revenue 41.5 32.5 63.5 104.9 107.2 Total Operating Revenue 1,341.8 1,008.6 33.0% 1,223.2 9.7% 2,565.1 1,931.1 32.8% O
Slide 33: Consolidated Balance Sheet
LIL: Consolidated Balance Sheet ASSETS (INR Cr) Sep-26 Mar-26 EQUITY & LIABILITIES (INR Cr) Sep-26 Mar-26 Non-current assets Equity Property, plant and equipment 1,253.7 1,259.6 Equity Share capital 9.3 9.3 Capital work-in-progress 180.0 104.9 Other equity 960.3 908.2 Right of use assets 161.5 155.9
Slide 34: Consolidated Cash Flow Statement
LIL: Consolidated Cash Flow Statement Particulars (INR Cr) Sep-26 Sep-25 PBT 133.5 95.4 Adjustments 88.3 81.6 Operating profit before working capital changes 221.8 177.0 Changes in working capital (73.9) (39.8) Cash generated from operations 148.0 137.2 Direct taxes paid (net of refund) 23.2 18.5 Ne
Slide 35: Continuous Improvement in Key Ratios
LIL: Continuous Improvement in Key Ratios* RoE (%) RoCE (%) Dividend per Share (INR) 27% 17% 55 15% 15% 22% 13% 12% 17% 16% 35 35 16% 8% 27 9% 13.5 FY22 FY23 FY24 FY25 FY26 H1FY27 FY22 FY23 FY24 FY25 FY26 H1FY27 FY22 FY23 FY24 FY25 FY26 Long-term Debt / Equity (x) Asset Turns (x) 0.4 1.9 1.8 1.7 1.8
Slide 36: Sustainability: ESG & CSR Initiatives
Sustainability ESG & CSR Initiatives
Slide 37: ESG Roadmap FY25–FY30
LIL: ESG Roadmap FY25–FY30 ESG ROADMAP FY25 – FY30 RE = share of renewable energy (%) FY24-25 FY25-26 FY26-27 FY27-28 FY28-29 FY29-30 Supply-chain Supply-chain RE 40 RE 70 RE 90 RE 100 decarbonisation decarbonisation ü 100% ETP & STP in all ü Advanced equipment to ü 100% rain-water harvesting ü 25%
Slide 38: Driving Social Progress, One Initiative at a Time
Driving Social Progress, One Initiative at a Time Lumax Charitable Foundation, the CSR arm of Lumax Group, focuses on two core Sustainable Development Goals (SDGs): Quality Education and Good Health & Well-Being. These priorities also create pathways to three interconnected SDGs, Gender Equality, th
Slide 39: CSR Initiatives
CSR Initiatives Operating across 33 government and low-income private schools in five states, near Lumax plant locations, the Foundation provides holistic educational support ‘beyond classroom learning’. 33 8,000+ 7,200 150 Schools across 5 states, Students received Life Students benefited Girl chil
Slide 40: Recognition: Awards & Accolades
Recognition Awards & Accolades
Slide 41: Celebrating Milestones with Awards & Accolades
Celebrating Milestones with Awards & Accolades Recognised by our OEM customers Industry honours Maruti Suzuki Tata Motors ICQCC ETAutoTech Superior Performance in the field of Launch Excellence Award Gold Award – 50th ICQCC 2025, Taipei CTO of the Year 2026 Sustainability Lumax Industries · Maruti S
Slide 42: Celebrating Milestones with Awards & Accolades
Celebrating Milestones with Awards & Accolades Quality & process excellence – JIPM TPM Excellence Awards JIPM JIPM JIPM JIPM JIPM Excellence in Consistent TPM Excellence in Consistent TPM Special Award for TPM Special Award for TPM Award for TPM Excellence Commitment Commitment Achievement Achieveme
Slide 43: Glossary
Glossary 2W Two-Wheeler DRL Daytime Running Lamp LATL Lumax Auto Technologies Limited Q1, Q2 First / second quarter of the FY Earnings Before Interest, Tax, 3W Three-Wheeler EBITDA Depreciation and Amortisation LB Low Beam QoQ Quarter-on-Quarter (also Q-o-Q) 4W Four-Wheeler EHS Environment, Health &
Slide 44: Thank You
Thank You For further information, please contact: Company Investor Relations Lumax Industries Limited Strategic Growth Advisors Pvt. Limited CIN: L74899DL1981PLC012804 CIN: U74140MH2010PTC204285 Ms. Surabhi Chandna Mr. Sagar Shroff / Mr. Ayush Haria [email protected] sagar.shroff@sgapl.