Lumax Industries Reports Record FY26 Results; Revenue Jumps 23%, EBITDA Up 42.8%

Lumax Industries Reports Record FY26 Results; Revenue Jumps 23%, EBITDA Up 42.8%​

Lumax Industries Limited, a leading player in automotive lighting and illumination, announced its Audited Financial Results for the fourth quarter and full year ended March 31, 2026, on May 28, 2026. The company reported significant year-over-year growth across major financial metrics.

The conglomerate achieved its highest-ever annual revenue in FY26 at Rs. 4,184.2 cr, marking a 23.0% increase compared to the previous year. Quarterly performance was also robust, with Q4FY26 revenue reaching Rs. 1,200.3 cr, a 30.0% jump year-on-year.

Key operational highlights include strong growth in profitability. The company recorded its highest-ever annual EBITDA in FY26 at Rs. 412.1 cr, an increase of 42.8% year-on-year. Similarly, quarterly EBITDA for Q4FY26 hit Rs. 124.9 cr, up 46.6% year-on-year.

In terms of margins, the EBITDA margin improved by 130 basis points year-on-year, settling at 9.8% for FY26. The EBITDA margin for Q4FY26 was 10.4%. Furthermore, Profit after Tax (PAT) achieved a new annual high in FY26 at Rs. 172.5 cr, representing a 23.3% increase year-on-year.

Financial Performance Overview​

The financial results for the last four quarters compared to the previous fiscal year are detailed below:


Note: PAT figures include a share of associates.

Operational Mix and Divisional Growth​

During FY26, LED lighting accounted for 61% of the total revenue, while conventional lighting constituted 39%. The company's product mix, analyzed as a percentage of total revenue, was structured with 69% from Front Lighting, 22% from Rear Lighting, and 9% from Others.

In terms of segment contribution, Passenger Vehicles contributed the largest share at 65% of total revenues, followed by Two Wheelers at 29%, and Commercial Vehicles and others at 6%.

New Product Launches and Recognitions​

The company announced several new launches during the quarter, spanning both passenger vehicle and two-wheeler segments.


Lumax Industries also secured multiple awards for its performance and sustainability efforts. It received JIPM TPM awards at three different levels, including Special Awards in Bengaluru and Pantnagar, and Consistency Awards in Bawal and Dharuhera.

Furthermore, Lumax Industries' Integrated Annual Report was ranked #61 globally and received a Platinum Award in the LACP (League of American Communications Professionals LLC) Vision Awards for 2024-25, marking the seventh consecutive year of recognition. Dharuhera also received the Significant Achievement Award in the Environment Domain at the 20th edition of the CII-ITC Sustainability Awards.

Management Commentary​

Mr. Deepak Jain, Chairman and Managing Director of Lumax Industries Limited, commented on the record performance, stating that the revenues of Rs. 4,184 crores reflect a strong 23% year-on-year growth. He attributed the growth to an improved product mix, with LED lighting contributing 61% to the overall revenues.

Mr. Jain noted that profitability growth was particularly strong, citing an EBITDA increase of 42.8% year-on-year to reach Rs. 412 crores, coupled with strong margins of 9.8%, an improvement of 130 basis points year-on-year. He highlighted that the order book remained healthy at Rs. 2,200 crores, with LED lighting constituting 88% of that total.

Regarding the outlook, Mr. Jain stated that the Indian automotive industry remains positive, supported by healthy domestic demand and the premiumization trend. However, he cautioned that uncertainties arising from the ongoing West Asia conflict need careful monitoring, as potential disruptions could impact commodity prices, fuel costs, and the overall economic sentiment.

The company has also seen its long-term and short-term credit ratings upgraded by ICRA Limited to ICRA AA- (Stable) and ICRA A1+, respectively.

LUMAXIND Stock Price Movement​

On Wednesday, Lumax Industries Limited shares edged higher, closing at ₹5978.5 after gaining 1.25% on the listing. The equity settled with notable activity, trading on a volume of 41,542 shares.