AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 25 Sep - CTO Satish Sundaresan resigns effective 25 Sep 2026; Sanjay Bhagat superannuates on 30 Sep 2026.
Source: Bse
Lumax Auto Technologies Limited (LUMAXTECH)
Micro CapAuto stocks · Micro cap · NSE
Lumax Auto Technologies Limited (LATL) is an Indian auto component manufacturer with a diversified product portfolio across Advanced Plastics, Mechatronics, Alternate Fuels, Structures & Control Systems, and Aftermarket segments. The company focuses on intelligent connected vehicles and future-critical products, serving major OEMs in India.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals17 Oct 2026 · screener
Latest result16 Aug, 12:31 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Auto P/E 25.7 (n=127)
Technical timing lens
Trend score and candlestick chart
50NeutralSMA20 -1.5% / mo · MACD −
Stock trend: 51
Sector RS: 49
Sector 3M: -6.3% vs Nifty 500 -5.6%
Auto FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
LUMAXTECHD candles · FIT view+10.2%Latest close ₹1902.90 on 2026-10-19
Bar
-4.1%
RSI
48
MACD hist
-3.43
52W pos
73%
2026-10-19O ₹1984.00H ₹1985.00L ₹1892.00C ₹1902.90Vol 94,207 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
LUMAXTECHNifty AutoNifty 500
- LUMAXTECH
- +30.7%
- Nifty 500
- -5.6%
- Nifty Auto
- -5.4%
- Vs Nifty 500
- +36.3 pp
Chart stats
19 Oct 2026- From 52W high
- -13.1%
- 52W range position
- 73%
- ATR (14)
- 4.3%
- Volume vs 20D
- 0.60x
- Avg traded value
- ₹29.4 Cr
- 20D price channel
- ₹1,763.6 - ₹2,190
₹2,190
₹1,120 - ₹2,190
₹82.7
Latest completed session
20-session average
46.0% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE55
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +32.9% · PAT +83.3% YoY
Technical
Neutral50
Price trend and sector-relative-strength timing.
Valuation
Legacy model-3.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence83
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +33% YoY · PAT +83% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,364 Cr | +32.9% | -3.7% |
| EBITDA | ₹190 Cr | +52.0% | -6.4% |
| Operating margin | 14.0% | +200 bps | +0 bps |
| PAT | ₹99 Cr | +83.3% | +1.0% |
| PAT margin | 7.3% | +200 bps | +34 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 40.50
- P/B
- 11.06
- EV/EBITDA
- 16.06
- Market Cap
- 13432.00Cr
Profitability
- ROE
- 26.40%
- ROCE
- 21.20%
- ROA
- 9.68%
- Dividend Y
- 0.28%
Growth (CAGR)
- Revenue 5Y
- 34.00%
- EPS 5Y
- 44.00%
- Revenue 3Y
- 38.00%
- EPS 3Y
- 43.00%
Balance Sheet
- Debt/Equity
- 1.02
- Interest Coverage
- 6.77×
- Altman Z
- 5.41
- Book Value
- 178.00
Cash Flow
- FCF Yield
- 1.34%
- FCF Positive Y
- 10/5
- OCF
- 460.00 Cr
- EPS TTM
- 47.55
Shareholding
- Promoter Hold
- 55.98%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 79%
Financial History
Updated 18/10/2026
Revenue
₹ CrLatest: 1,364-3.7% vs prev
Net Profit
₹ CrLatest: 99.0+1.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 48. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~1.6% over last month) — short-term momentum negative.
- RSI(14) at 48 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 13% off 52W high · 70% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
88
RS percentile
Stage 2 UptrendEstablished S2
1M return
-9.5%
3M return
+30.7%
6M return
+6.0%
1Y return
+64.9%
RS 1D
-1
RS 20D
+2
Sector rank
#3
Industry rank
#30
Stage evidence
- Price is 9.7% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
20 Aug 2026
S2 age
41 trading sessions
Sector
leading
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 151.01-2.33%
RS vs Nifty 500151
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth21/25
Quality16/20
Balance Sheet6/15
Cash Flow7/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
55
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
55/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Growth contributes 21/25 to the score.
- Quality contributes 16/20 to the score.
Main drags
- Fair-value margin of safety is negative at -3.8%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
40.5
PB
11.1
EV/EBITDA
16.1
ROE
26.4%
ROCE
21.2%
FCF Yield
1.3%
Debt/Equity
1.0
MoS
-3.8%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
55
Previous: 55
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-3.8%
Previous: -3.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
57
57
57
57
57
55
55
55
55
55
55
55
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹436.39
-336.1% MoS
Growth-justified P/E
38.5
Growth-justified Value
₹1,833.05
-3.8% MoS
PEG
0.93
Comparable companies
Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
UNOMINDA
Large
UNO Minda Limited
Auto Components
match 143
47
52.8
19.3%
-35%
FAIR VALUE
ASKAUTOLTD
Micro
ASK Automotive Limited
Auto Components
match 139
54
37.5
25.1%
+8%
FAIR VALUE
VARROC
Micro
Varroc Engineering Limited
Auto Components
match 139
46
43.8
15.1%
-61%
FAIR VALUE
CIEINDIA
Micro
CIE Automotive India Limited
Auto Components
match 138
66
16.1
11.8%
+60%
UNDERVALUED
OLECTRA
Large
Olectra Greentech Limited
Auto Components
match 138
50
49.4
15.6%
-25%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-11T15:47:09.772Z
Management commentary snapshot
Lumax Auto Technologies reported a strong Q1 FY27, with revenue growing 33% YoY to INR 1,364 crore. EBITDA increased 51% YoY to INR 205 crore, expanding margins to 15.1%. Profit after tax surged 83% YoY to INR 99 crore.
LATL delivered robust Q1 FY27 results, outperforming industry production growth. The strong order book provides good visibility, and strategic capacity expansions are underway. Management's commitment to a 20% revenue CAGR and margin sustainability, driven by premiumization and new technologies, supports the long-term thesis despite macroeconomic uncertainties.
Growth engines
Wallet Share Expansion
Expanding wallet share with existing OEMs, exemplified by Bajaj Auto's 64% YoY revenue growth due to presence in newer models and platforms like Chetak.
Value Content & Premiumization
Increasing value content per vehicle driven by premiumization, leading to higher realizations and improved margins.
Localization of Products
Localizing products currently imported by OEMs, creating significant growth opportunities from ground zero and offering better margins.
New Technology Play
Focus on new technologies, particularly in the Mechatronics division, with products related to connectivity and sensors, which typically command higher margins.
Capacity and execution
IAC Division Plant
A new plant is underway at Chakan for the IAC division to cater to upcoming demand from Mahindra & Mahindra and optimize product lines.
Mechatronics Plant
The mega Mechatronics plant in Manesar, Haryana, is expected to be commissioned by Q3 FY27, consolidating four entities to optimize resources and fixed costs.
Greenfuel Energy Facility
A new facility will be set up in Nashik for Greenfuel Energy to cater to requirements from Mahindra, a newly onboarded customer for their passenger vehicle CNG segment.
Tailwinds
Strong Indian Economy
India continues to stand out as one of the world’s fastest-growing major economies, supported by strong domestic demand and sustained public capital expenditure.
Favorable Auto Industry Demand
The Indian automotive industry delivered a strong start to FY27, with broad-based production growth led by lower GST rates, easier financing, and new model launches.
Record Sales & Exports
Q1 FY27 saw passenger vehicles, commercial vehicles, and 3-wheelers record their highest-ever first-quarter sales, with exports across all vehicle segments also reaching record levels.
Rural Demand Support
Improved monsoon conditions and stable inflation further supported demand, particularly in the rural markets.
Headwinds
Geopolitical Landscape
The global economy continues to navigate a challenging geopolitical landscape with the ongoing conflict in the Middle East.
Supply Chain & Inflationary Pressures
Heightened concerns around energy security, supply chain disruptions, and inflationary pressures persist, influencing input costs and market sentiment.
OEM Competition in Aftermarket
OEMs getting more aggressive in the Aftermarket space will put pressure on the company's reach and margins due to their deep pockets for pricing.
Risk radar
Macroeconomic Uncertainties
The company remains watchful of macroeconomic uncertainties, commodity inflation, and energy price volatility.
Commodity Inflation
The industry continues to closely monitor commodity prices that could influence input costs.
Energy Price Volatility
Energy price volatility is a concern that could impact overall market sentiment and operational costs.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
All key financial metrics and industry production growth rates are explicitly reported on a year-on-year basis. Management also noted Q1 and Q2 FY27 benefited from a low base in the prior year, making YoY comparisons more relevant for assessing growth.
Sector KPIs management disclosed
Industry Production Growth
Indian automotive industry production witnessed a healthy growth of 22% year-on-year (y-o-y) in Q1 FY27. PV production increased 17%, CV grew 15%, 2-Wheeler rose 23%, and 3-Wheeler recorded 39% growth.
Order Book
The company reported a robust order book of INR 1,600 crore, with 24% expected in FY27, 56% in FY28, and 20% in FY29. Advanced Plastics contributes the largest share, followed by Mechatronics, Alternate Fuels, and Structures & Control systems.
Raw Material Pass-through
For plastics, the company has back-to-back arrangements with most OEMs, realizing 80-90% of inflationary costs within the same quarter. Electronics, with a low current footprint, did not significantly impact margins despite price increases.
Content Per Vehicle
Management highlighted value content per vehicle is increasing due to premiumization and localization of previously imported products, which are key drivers for margin expansion.
Management forward view
Long-term Vision
The '20.20.20.20 Vision' aims for a 20% revenue CAGR from 2025-2031, inching closer to 20% EBITDA margin over the next 5-7 years, aspiring to double current revenue to over INR 10,000 crore by FY2031.
Margin Sustainability
Management expects to sustain the current Q1 FY27 margins (15.1%) for the remaining part of the year.
Mechatronics Growth Target
The Mechatronics division is anticipated to achieve a top line of close to INR 1,000 crore by FY2030-31, up from an estimated INR 400 crore in FY27.
Inorganic Growth Strategy
While no immediate inorganic plans for the current year, the company continues to evaluate strategic fits for the next few years, even if at higher multiples, if they bring long-term value.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue CAGR | 33% YoY in Q1 FY27 | Sustained 20% CAGR over the long run (FY25-FY31) as per '20.20.20.20 Vision'. |
| EBITDA Margin | 15.1% in Q1 FY27 | Sustainability of current margins and progress towards the 17-17.5% range over the next 3-5 years. |
| Order Book Execution | INR 1,600 crore order book | Timely execution of 24% in FY27, 56% in FY28, and 20% in FY29, and further order wins. |
| Mechatronics Division Top Line | INR 84 crore in Q1 FY27 (estimated INR 400 crore for FY27) | Progress towards the target of INR 1,000 crore top line by FY2030-31. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
83Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 95th percentile of the scored universe and 90th percentile within Auto. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
157 docs text-extracted · 67 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
95th percentile
overall median 67 · Auto: 90th pctile, median 74 · Micro: 92nd pctile, median 73
Evidence depth
Financial-only
157 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
69
acceptable · leverage and solvency
Discipline
90
strong · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 56%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.4%.
- ▸10 years of positive FCF.
Trust risks
- ▸Debt/equity is 1.02.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Lumax Auto Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Change in Management 21h - Mr. Sunil Shantaram Koparkar appointed Senior Management Personnel for IAC Division effective July 22, 2026.
Source: Bse
Investor presentationJun 2026
Jun 2026 · PPT
Source: Bse
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Aug - Submission of the Newspaper cuttings of publication of Un-audited Financial Results for 1st Quarter ended June 30, 2026.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 10 Aug - Q1FY27 revenue rose 33% to ₹1,364 crore; PAT before minority interest rose 83% to ₹99 crore.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Updates on Acquisition 29 Jun - Lumax Auto Technologies acquired remaining 15.97% in LFAE on June 29, 2026, making it wholly owned.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Jun - Clippings of Newspaper Advertisement for Transfer of Unpaid/Unclaimed Dividend for the Financial Year 2018-19 and the underlying Equity Shares to Investor Education and Protection Fund …
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Credit ratingMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 16 May - CRISIL reaffirmed Lumax Auto Technologies' ratings on ₹681 crore facilities on 15 May 2026.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.