Lumax Auto Technologies LimitedQ2 FY27 Results & Financial Update
Lumax Auto Technologies Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,555.51 Cr, PAT ₹116.67 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Lumax Auto Technologies Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Lumax Auto Technologies delivered a robust performance in the second quarter of fiscal 2027, crossing the Rs 1,500 crore quarterly revenue threshold for the first time in its operating history.
Consolidated revenue from operations expanded sequentially to Rs 1,555.51 crore from Rs 1,363.62 crore in the preceding quarter, representing a 14.07 percent quarter-on-quarter increase. Company disclosures highlight a 35 percent year-on-year growth rate compared to Rs 1,156 crore reported in Q2 FY26.
Profitability outpaced top-line expansion on a year-on-year basis, driven by scale economies, favorable product mix, and ongoing operational efficiency initiatives across manufacturing units.
EBITDA including other income was reported at Rs 228 crore for Q2 FY27 compared to Rs 170 crore in Q2 FY26, maintaining an EBITDA margin of 14.7 percent which remained stable year-on-year though softening slightly from 15.1 percent in Q1 FY27.
Basic earnings per share rose to Rs 15.48 for the quarter, compared to Rs 12.71 in Q1 FY27 and Rs 9.81 in Q2 FY26, underscoring enhanced per-share earnings power.
The broader operating environment benefited from overall vehicle production growth across segments—led by commercial vehicles up 34 percent, passenger vehicles up 25 percent, three-wheelers up 25 percent, and two-wheelers up 17 percent—supported by improved affordability following GST 2.0 changes.
Management noted that rising input costs, including crude-linked polymer prices, elevated lead times, electronic component expenses, freight charges, and currency depreciation, remain important variables to monitor moving forward.
01 · Business model
What does Lumax Auto Technologies do?
Lumax Auto Technologies Limited is a leading Indian automotive component manufacturer that operates through subsidiaries and maintains a pan-India manufacturing footprint of 29 plants across major automotive hubs.
The company's broad product portfolio encompasses advance plastics, two and three-wheeler lighting, chassis, gear shifters, shift towers, emission systems, seat frames, oxygen sensors, on-board antennas, electric devices, wiring harnesses, vehicle interior components, and CNG delivery systems.
Lumax holds a recognized market leadership position in the design, testing, and manufacturing of gear shifters and interior solutions within India, serving major original equipment manufacturers across passenger vehicles, commercial vehicles, and two/three-wheeler segments.
Key foundational customers include Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki, Honda Motorcycles and Scooters, Tata Motors, Daimler India, and Volkswagen, reflecting deep integration into major domestic vehicle platforms.
02 · Historical context
What shaped the business before this quarter
The company has expanded its operating base to 29 manufacturing plants located across major auto clusters in India.
Over prior periods, Lumax has transitioned its product mix toward advanced technologies and higher-value content per vehicle, including mechatronics, alternate fuel systems, and connected vehicle components.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹1,555.51 Cr | ₹1,363.62 Cr |
| Total income | ₹1,574.22 Cr | ₹1,378.78 Cr |
| Profit before tax | ₹154.24 Cr | ₹132.05 Cr |
| Profit after tax | ₹116.67 Cr | ₹98.64 Cr |
| EPS | ₹15.48 | ₹12.71 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 7.5% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 9.9% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹18.71 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue crossed the Rs 1,500 crore milestone to reach Rs 1,555.51 crore, supported by growing customer wallet share and strong industry demand across vehicle categories.
Increasing adoption of advanced technologies and higher content per vehicle contributed to value realization alongside unit volume growth.
Industry production growth in passenger vehicles (25%), two-wheelers (17%), three-wheelers (25%), and commercial vehicles (34%) provided a favorable operating backdrop.
What drove margins
EBITDA margin stood at 14.7 percent in Q2 FY27, matching the 14.7 percent level of Q2 FY26 and easing slightly from 15.1 percent in Q1 FY27.
Margins absorbed upward pressure from crude-linked polymer prices, electronic component lead times, freight expenses, and rupee depreciation, partially offset by OEM cost recoveries and internal operating efficiencies.
Higher contribution from advanced plastics and value-added sub-systems supported half-year EBITDA margin expansion of approximately 90 basis points year-on-year to 14.9 percent.
05 · Demand, customers & order book
Where demand is coming from
New product introductions during the quarter included ferrule-less tubes and fittings for Maruti Suzuki across multiple models, GNSS antennas for Honda Cars India on the 3UX model, receptacles for Mahindra & Mahindra on the 3XO model, and RFID transceivers for commercial vehicle manufacturers including Daimler, Ashok Leyland, Volvo Eicher, Volvo India, and JSW GreenTech.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Advance Plastics accounted for 57 percent of H1 FY27 business (up from 52 percent in H1 FY26), Structures & Control Systems stood at 16 percent (down from 18 percent), Aftermarket contributed 8 percent (down from 10 percent), Alternate Fuels represented 8 percent (flat), Mechatronics held at 6 percent, and Others accounted for 5 percent (down from 6 percent).
Passenger Vehicles contributed 53 percent of H1 FY27 revenue (compared to 55 percent in H1 FY26), 2/3 Wheelers contributed 27 percent (up from 24 percent), Commercial Vehicles accounted for 7 percent (down from 9 percent), Aftermarket generated 8 percent (down from 10 percent), and Others contributed 5 percent (up from 2 percent).
Geography and market mix
Operations span 29 manufacturing plants situated across all major automotive clusters in India, facilitating localized supply to key OEM customers.
07 · Strategy & new businesses
How the company is trying to change its growth mix
Management remains focused on expanding wallet share with existing customers, penetrating new vehicle platforms, and adding new customers across geographies through continuous product innovation.
08 · Reported developments
What changed operationally
Lumax Auto Technologies' Metallics and Lighting plants at Chakan were recognized by Bajaj Auto with the Platinum Award for Quality Consistency.
For H1 FY27, consolidated revenue grew 34 percent year-on-year to Rs 2,919 crore, EBITDA rose 42 percent to Rs 434 crore, and PAT before minority interest grew 64 percent to Rs 215 crore.
09 · Pressure points & risks
What is not going smoothly
Management highlighted rising crude-linked polymer costs, elevated lead times and expenses for electronic components, freight cost increases, and rupee depreciation as ongoing items requiring close monitoring.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
New Product Launches
The company commercialized several new components during Q2 FY27, including ferrule-less tubes and fittings for Maruti Suzuki, GNSS antennas for Honda Cars India (3UX), receptacles for Mahindra & Mahindra (3XO), and RFID transceivers for commercial vehicle brands including Daimler, Ashok Leyland, Volvo Eicher, Volvo India, and JSW GreenTech.
11 · Previous-quarter changes
What changed since the previous quarter
Revenue grew by 14.07 percent sequentially from Rs 1,363.62 crore in Q1 FY27 to Rs 1,555.51 crore in Q2 FY27, while PAT before minority interest advanced 18.28 percent from Rs 98.64 crore to Rs 116.67 crore.
12 · Key Q&A
The quarter, answered directly
What does Lumax Auto Technologies do?
Lumax Auto Technologies Limited is a leading Indian automotive component manufacturer that operates through subsidiaries and maintains a pan-India manufacturing footprint of 29 plants across major automotive hubs.
What is the clearest takeaway from Q2 FY27?
Lumax Auto Technologies delivered a robust performance in the second quarter of fiscal 2027, crossing the Rs 1,500 crore quarterly revenue threshold for the first time in its operating history.
What drove revenue or demand?
Revenue crossed the Rs 1,500 crore milestone to reach Rs 1,555.51 crore, supported by growing customer wallet share and strong industry demand across vehicle categories.
What mattered most for margins or profitability?
EBITDA margin stood at 14.7 percent in Q2 FY27, matching the 14.7 percent level of Q2 FY26 and easing slightly from 15.1 percent in Q1 FY27.
What changed operationally beyond the headline numbers?
Management remains focused on expanding wallet share with existing customers, penetrating new vehicle platforms, and adding new customers across geographies through continuous product innovation.
What are the main pressure points disclosed for the quarter?
Management highlighted rising crude-linked polymer costs, elevated lead times and expenses for electronic components, freight cost increases, and rupee depreciation as ongoing items requiring close monitoring.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Segment adoption rates: Track the scaling of recently launched components across passenger vehicle, commercial vehicle, and alternate fuel platforms.
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