Lumax Industries Ltd

Lumax Industries Ltd

₹ 5,220 -1.48%
10 Jun 1:47 p.m.
About

Lumax Industries Limited is the flagship company of the DK Jain Group. It was founded as a trading company in 1945 and today it has evolved as market leader of automobile lighting in the Indian automotive industry. In 1984, company entered into a technical collaboration with Stanley Electric Co. Ltd., Japan (SECL), which currently holds around 37.5% equity stake in the company. Other 37.5% is held by Indian promoters (D.K. Jain and family). Company has 29 manufacturing facilities across 7 states in India. [1] [2]

Key Points

Product Portfolio
a) Lighting Solutions[1][2]
Front Lighting: - Headlamps, Fog Lamps, Daytime Running Lamps
Rear Lighting: ** Tail Lamps, Rear Combination Lamps, Signal Lamps
Other Lamps:** Side Indicators, Auxiliary Lamps.

  • Market Cap 4,884 Cr.
  • Current Price 5,220
  • High / Low 6,970 / 3,110
  • Stock P/E 30.5
  • Book Value 763
  • Dividend Yield 0.66 %
  • ROCE 17.7 %
  • ROE 24.4 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 59.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 36.3%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
608 618 644 632 743 766 812 887 923 923 1,009 1,053 1,200
560 567 589 574 678 709 754 816 846 842 921 944 1,078
Operating Profit 48 51 54 58 65 57 58 71 78 80 88 109 123
OPM % 8% 8% 8% 9% 9% 7% 7% 8% 8% 9% 9% 10% 10%
-0 3 2 28 5 12 3 1 16 3 2 8 -1
Interest 9 10 11 13 14 16 19 19 17 18 19 18 18
Depreciation 21 21 21 23 26 26 26 27 33 31 36 38 44
Profit before tax 18 23 24 50 29 27 15 26 43 34 35 61 59
Tax % 50% 35% 34% 27% 36% 26% 15% 15% 16% 25% 26% 16% 26%
9 15 16 36 19 20 13 22 36 25 26 51 44
EPS in Rs 9.67 15.89 17.11 38.91 20.19 21.34 13.88 23.75 38.93 27.18 27.59 54.95 47.00
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,136 1,252 1,271 1,649 1,851 1,602 1,426 1,751 2,320 2,637 3,400 4,184
1,077 1,164 1,170 1,515 1,698 1,443 1,326 1,616 2,112 2,408 3,124 3,785
Operating Profit 59 89 101 135 154 158 100 135 208 229 276 400
OPM % 5% 7% 8% 8% 8% 10% 7% 8% 9% 9% 8% 10%
6 4 6 9 62 10 25 -4 9 38 19 12
Interest 14 13 11 8 16 22 29 22 30 48 72 73
Depreciation 36 38 41 48 60 64 65 64 80 92 111 149
Profit before tax 14 42 55 88 139 82 32 46 107 126 112 189
Tax % -16% 10% 16% 28% 23% 12% 46% 23% 34% 32% 18% 22%
17 37 46 63 107 72 17 35 71 86 92 146
EPS in Rs 17.73 39.98 49.34 67.65 114.89 77.36 18.23 37.90 75.57 92.09 97.90 156.72
Dividend Payout % 31% 30% 29% 34% 30% 30% 38% 36% 36% 38% 36% 35%
Compounded Sales Growth
10 Years: 13%
5 Years: 24%
3 Years: 22%
TTM: 23%
Compounded Profit Growth
10 Years: 16%
5 Years: 59%
3 Years: 30%
TTM: 75%
Stock Price CAGR
10 Years: 24%
5 Years: 26%
3 Years: 36%
1 Year: 65%
Return on Equity
10 Years: 18%
5 Years: 18%
3 Years: 19%
Last Year: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 171 195 238 284 363 375 388 413 472 531 590 704
159 127 92 104 140 347 338 401 431 716 882 968
424 463 472 737 602 467 540 629 820 1,161 1,140 1,481
Total Liabilities 764 794 812 1,134 1,114 1,198 1,276 1,452 1,732 2,418 2,621 3,163
396 408 419 518 549 653 627 711 743 958 1,095 1,424
CWIP 26 17 20 34 50 32 47 48 43 177 212 105
Investments 5 5 5 5 5 5 5 8 16 21 23 24
337 365 368 578 510 508 596 685 930 1,262 1,292 1,610
Total Assets 764 794 812 1,134 1,114 1,198 1,276 1,452 1,732 2,418 2,621 3,163

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
59 81 100 140 104 103 76 108 111 133 200 367
-30 -37 -62 -128 -97 -194 -31 -129 -93 -246 -286 -264
-13 -59 -39 -11 -6 96 -51 34 -26 137 60 -90
Net Cash Flow 16 -15 -2 1 1 6 -5 13 -9 24 -26 13
Free Cash Flow 14 43 37 8 -8 -63 14 -21 24 -120 -115 81
CFO/OP 100% 101% 110% 117% 89% 75% 72% 87% 65% 65% 77% 104%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 46 53 55 70 44 39 55 48 48 48 50 55
Inventory Days 51 45 58 63 63 75 94 91 96 144 96 90
Days Payable 136 135 163 202 117 131 159 163 142 174 154 146
Cash Conversion Cycle -40 -36 -51 -68 -11 -17 -9 -24 2 18 -8 -1
Working Capital Days -65 -58 -54 -57 -49 -78 -75 -60 -38 -50 -44 -46
ROCE % 9% 16% 20% 26% 26% 17% 8% 11% 16% 16% 13% 18%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Product Mix - Front Lighting
%

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Segment Mix - Passenger Vehicles (PV)
%
Segment Mix - Two & Three Wheelers
%
LED Revenue Penetration
%
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
1.12% 1.15% 1.12% 1.09% 1.17% 1.18% 0.92% 0.97% 1.18% 1.13% 1.38% 1.63%
1.03% 1.27% 1.42% 1.46% 1.57% 3.56% 4.94% 5.63% 5.75% 5.98% 5.71% 6.07%
22.84% 22.57% 22.45% 22.44% 22.25% 20.27% 19.13% 18.39% 18.07% 17.89% 17.91% 17.30%
No. of Shareholders 19,41019,74219,39519,32919,99918,88418,81418,66019,62321,48622,37123,690

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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