Investor presentationSep 2026
Sep 2026 · Investor presentation · Investor Presentation for quarter and half year ended 30th September, 2026
Source: Bse
Lumino Industries Limited (LUMINO)
Micro CapIndustrials stocks · Micro cap · NSE
Lumino Industries Limited is an established manufacturer of aluminium conductors, power cables, and electrical wires, alongside providing turnkey EPC services across EHV substations, power T&D, HTLS reconductoring, solar power, and water management infrastructure.
₹99.84
+5.56 · +5.90%
Market cap ₹2,644 Cr
Data qualityVerify one data layerQuote updated 04 Nov, 05:54 pm ISTPost-result recalculation pendingDetails
Quote04 Nov, 05:54 pm IST
Base fundamentals02 Nov 2026 · screener
Latest result04 Nov, 07:14 pm IST
Score05 Nov, 04:30 am IST · v4.3-runtime-valuation
Tags20 Sept 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 23.2 (n=542)
Technical timing lens
Trend score and candlestick chart
46NeutralSMA20 -8.4% / mo · MACD +
Stock trend: 49
Sector RS: 42
Sector 3M: -6.0% vs Nifty 500 -4.1%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
LUMINOD candles · FIT view-9.5%Latest close ₹99.84 on 2026-11-04
Daily history is available from 2026-09-03; the requested 1Y window is partially covered.
Bar
+5.9%
RSI
53
MACD hist
0.51
52W pos
40%
2026-11-04O ₹94.28H ₹100.95L ₹92.45C ₹99.84Vol 52.6L 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
LUMINONifty India ManufacturingNifty 500
- LUMINO
- -9.5%
- Nifty 500
- -2.1%
- Nifty India Manufacturing
- -4.1%
- Vs Nifty 500
- -7.4 pp
Chart stats
4 Nov 2026- From 52W high
- -18.2%
- 52W range position
- 40%
- ATR (14)
- 5.3%
- Volume vs 20D
- 1.36x
- Avg traded value
- ₹38.4 Cr
- 20D price channel
- ₹85.3 - ₹109.6
₹122
₹85.3 - ₹122
₹5.3
Latest completed session
20-session average
56.9% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management trust is not scored yet, price trend is neutral, and result consistency is still building.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED68
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Neutral46
Price trend and sector-relative-strength timing.
Valuation
Legacy model+56.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
pending—
Management reliability not computed 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 Sept 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 04 Nov 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹661.4 Cr | NDF | +26.9% |
| EBITDA | ₹84.5 Cr | NDF | +19.0% |
| Operating margin | 12.8% | NDF | -123 bps |
| PAT | ₹53.1 Cr | NDF | +32.6% |
| PAT margin | 8.0% | NDF | +34 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 15.60
- P/B
- —
- EV/EBITDA
- 11.32
- Market Cap
- 2644.00Cr
Profitability
- ROE
- 24.60%
- ROCE
- 26.60%
- ROA
- 7.36%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 19.00%
- Revenue 3Y
- 39.00%
- EPS 3Y
- 98.00%
Balance Sheet
- Debt/Equity
- 0.55
- Interest Coverage
- 3.16×
- Altman Z
- 2.64
- Book Value
- —
Cash Flow
- FCF Yield
- 4.35%
- FCF Positive Y
- 1/5
- OCF
- 156.00 Cr
- EPS TTM
- 6.57
Shareholding
- Promoter Hold
- 71.97%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 4%
Financial History
Updated 4/11/2026
Revenue
₹ CrLatest: 84.0+223.1% vs prev
Net Profit
₹ CrLatest: 160+28.0% vs prev
Return on Equity
%Latest: 21.9+0.1% vs prev
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 trend unclear. RSI 53. Wait for confirmation.
- SMA20 falling (~9.2% over last month) — short-term momentum negative.
- RSI(14) at 53 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 18% off 52W high · 17% 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
-
RS percentile
Insufficient history
1M return
-4.7%
3M return
-
6M return
-
1Y return
-
RS 1D
-
RS 20D
-
Sector rank
#6
Industry rank
#33
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
unavailable
200-DMA
unavailable
Sector
weakening
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
41 observations
03 Nov 2026Value 88.24+2.53%
RS vs Nifty 50088
Valuation & peers
U-Score 68 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 68 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · UNDERVALUEDValuation14/30
Growth20/25
Quality18/20
Balance Sheet6/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
68
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
68/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 4.3%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 56.3%.
Main drags
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Valuation is weaker at 14/30; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
15.6
PB
—
EV/EBITDA
11.3
ROE
24.6%
ROCE
26.6%
FCF Yield
4.3%
Debt/Equity
0.6
MoS
+56.3%
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: 05 Nov 2026
v4.3-runtime-valuation
Final score
68
Previous: 68
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+56.3%
Previous: +56.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
05 Nov 2026
v4.3-runtime-valuation
67
67
67
67
67
67
70
70
72
69
68
68
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
—
Growth-justified P/E
34.8
Growth-justified Value
₹228.57
+56.3% MoS
PEG
0.51
Comparable companies
Peers
Business-comparable peers in Industrials — 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
HTEL
Micro
Hy-Tech Engineers Limited
Industrial Products
match 69
46
31.6
20.2%
-95%
FAIR VALUE
AONESTEELS
Micro
A-One Steels India Limited
Industrial Products
match 56
30
44.3
6.3%
+43%
OVERVALUED
MONOLITH
SME
Monolithisch India Ltd.
Industrial Products
match 54
56
78.9
27.8%
-136%
FAIR VALUE
ELECTCAST
Micro
Electrosteel Castings Limited
Industrial Products
match 54
30
24.7
3.0%
-497%
OVERVALUED
GERMAN
Micro
German Green Steel and Power Limited
Industrial Products
match 53
66
9.9
21.4%
+67%
UNDERVALUED
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 2026-11-04T15:12:32.154Z
Management commentary snapshot
H1 FY27 revenue grew 25% YoY to Rs. 1,183 Cr and operating EBITDA expanded 34% YoY to Rs. 155 Cr, supported by strong order book execution and improved profitability.
The investment thesis remains intact backed by robust revenue growth, margin expansion, a healthy consolidated order book of Rs. 2,885 Cr, and successful IPO capital raising that significantly strengthened the balance sheet to a net cash position.
Current business mix
Revenue by vertical
Latest issuer-disclosed distribution across 2 reported categories.
Manufacturing70.0%
EPC30.0%
Growth engines
Order Book Expansion
ACTIVEClosing order book of Rs. 2,885 Cr as of September 30, 2026, plus post-period orders worth Rs. 386 Cr and L1 status in Rs. 555 Cr of tenders.
Specialised Conductors & Cables
ACTIVEGrowing demand for HTLS conductors and specialized power cables supported by strategic partnerships like CTC Global for ACCC Core.
Integrated EPC Model
ACTIVECombined product manufacturing and EPC execution capabilities across five lines including EHV Substations and HTLS Re-conductoring.
Capacity and execution
Unit III Ranihati Expansion
ON_TRACKAcquired 15 acres (650,000 sq. ft.) of land for a new facility adding 35,000 MT total capacity in phases, with Phase I (10,000 MT for HT cables up to 66 kV) starting commercial production in Q4 FY27.
Tailwinds
Government Power Infrastructure Outlays
FAVOURABLEInvestments of Rs. 4-5 lakh crores each in transmission and distribution over FY27-FY31 alongside the Green Energy Corridor Phase III (Rs. 1.86 lakh crore outlay).
Industry Growth Projections
FAVOURABLEWires and cables projected to grow at 13-14% CAGR and conductors at 12-15% CAGR over FY26-FY31.
Risk radar
Working Capital Intensity
MONITORHigh inventory days (427 days) and trade receivable days (123 days) create ongoing working capital absorption.
Execution and Commodity Risks
MONITORVulnerability to time/cost overruns on EPC contracts and fluctuations in raw material prices like aluminium.
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 BOTH
Both YoY and QoQ comparisons are relevant to evaluate absolute growth momentum, seasonality, sequential project execution pace, and utilization ramp-up.
Sector KPIs management disclosed
Order Inflow and Book
POSITIVETotal closing order book stood at Rs. 2,885 Cr as of September 30, 2026, comprising Rs. 1,963 Cr from EPC and Rs. 922 Cr from Manufacturing.
Revenue Cover
POSITIVEH1 FY27 revenue stood at Rs. 1,183 Cr against an order book of Rs. 2,885 Cr, providing healthy medium-term revenue visibility.
Operating Margin
POSITIVEH1 FY27 Operating EBITDA margin expanded by 91 bps YoY to 13.1% (Rs. 155 Cr).
Working Capital and Receivables
NEUTRALTrade receivables days stood at 123 days, inventory days at 427 days, and payable days at 66 days for H1 FY27.
Management forward view
Focus on Ranihati Commercialization
ON_TRACKPrioritizing the execution of the Ranihati expansion to commission Phase I in Q4 FY27 and scale cable manufacturing up to 66 kV.
Selective EPC Bidding
ON_TRACKFocusing EPC participation on opportunities where in-house manufacturing capabilities provide clear competitive advantages.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Ranihati Phase I Commissioning | Under construction | Commercial production commencement in Q4 FY27 |
| Net Debt / Cash Position | Net cash of Rs. 128 Cr post IPO | Sustained positive cash flow from operations and working capital discipline |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
Trust profile pending
Trust asks a simple question: can investors rely on management behaviour and financial delivery? Trust Lite uses promoter alignment, cash conversion, leverage, and result consistency. Full transcript-based claim matching appears after enough documents are ingested.
Continue researching Lumino Industries Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 12 Oct - Lumino Industries secured ₹496 Cr orders since IPO; order book rises to ₹3,215 Cr.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 12 Sep - CRISIL upgraded Lumino Industries' long-term rating to A+/Stable; short-term rating reaffirmed at A1.
Source: Bse
Credit rating
Credit-rating report · Lumino Industries Limited has informed the Exchange about Credit Rating- Revision
Source: Nse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 21 Sep - Lumino Industries reported Q1 FY27 revenue of Rs. 521 crore, PAT of Rs. 40 crore, and order book of Rs. 3,059 crore.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Sep - Newspaper Publication of Unaudited Financial Results of the Company for the quarter ended June 30, 2026.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.