Lumax Tech’s 12.57% margin trails sector median in first quarter
The standalone quarter included Rs 24.87 cr of other income, while management set out a 20% revenue CAGR target for FY26-31.
Filed 10 Aug 2026, 16:46 IST · after market close · Lumax Auto Technologies Ltd (LUMAXTECH)
Key takeaways
- Standalone operating margin was 12.57%, 0.74 percentage points below the 13.31% median for 128 reported Consumer Discretionary peers.
- Other income of Rs 24.87 cr supplemented profit before tax of Rs 98.43 cr, making the earnings mix partly non-operational.
- Management's FY26-31 plan targets a minimum 20% revenue CAGR through organic and inorganic growth.
Price around the results
Standalone quarter: profit included non-operating support
Lumax Auto Technologies reported standalone revenue of Rs 1,009.25 cr and net profit of Rs 73.75 cr in Q1FY27, with EPS at Rs 10.82. The earnings bridge included Rs 24.87 cr of other income against Rs 98.43 cr of profit before tax, so reported profit was not generated solely by operations. Interest of Rs 19.52 cr and depreciation of Rs 33.75 cr reduced operating profit of Rs 126.83 cr before tax.
12.57% operating margin leaves the company below peers
The standalone operating margin was 12.57%, while expenses were Rs 882.42 cr against revenue of Rs 1,009.25 cr. The company’s margin was 0.74 percentage points below the 13.31% median among 128 Consumer Discretionary peers that had reported the same quarter. It ranked 59th from the bottom of that peer set.
Management sets a wider system-integration ambition
Management said its FY26-31 mid-term plan targets a transition from a Tier-1 supplier to a Tier-0.5 system integrator. The company said it is targeting at least 20% revenue CAGR through organic and inorganic growth. Management also said innovation-led growth will focus on R&D and new products in future mobility, clean mobility, sensors and mechatronics, while its ESG roadmap includes a 2028 net-zero challenge.
Filing came after market close
The standalone results were filed after market close on 10 August 2026. The stock’s immediate post-results response is therefore not assessed here, and this note focuses on the reported quarter and management’s stated plan.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹1,009 cr |
| Other income | ₹25 cr |
| Expenses | ₹882 cr |
| Operating profit | ₹127 cr |
| Operating margin (%) | 12.57% |
| Interest | ₹20 cr |
| Depreciation | ₹34 cr |
| Profit before tax | ₹98 cr |
| Tax | ₹25 cr |
| Net profit | ₹74 cr |
| EPS (₹) | ₹10.82 |
Operating margin of 12.57% compares with a Consumer Discretionary sector median of 13.31% across 128 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- The FY26-31 mid-term plan targets transformation from a Tier-1 to a Tier-0.5 system integrator.
- The company targets a minimum 20% revenue CAGR from organic and inorganic growth.
- The ESG roadmap includes a 2028 net-zero challenge.
New initiatives
- The company is pursuing innovation-led growth through R&D and new product development in future mobility, clean mobility, sensors and mechatronics.
What to watch
- Whether operating margin improves from 12.57% in the next reported quarter.
- Whether the next reported tax rate differs materially from 25.07%.
- Whether management reports progress against its minimum 20% FY26-31 revenue CAGR target.