Executive Summary
Lumax Industries Limited reported its highest-ever quarterly revenue in Q3 FY26 at ₹1,052.7 crore, up 18.7% year-on-year. EBITDA rose 57.2% to ₹111.7 crore, with margin improving to 10.6%. Profit after tax increased 39.1% to ₹46.5 crore, reflecting operating leverage and sustained demand across segments.
Financial Performance
Revenue for Q3 FY26 rose to ₹1,052.7 crore from ₹887.1 crore in the year-ago quarter. For the nine months ended December 31, 2025, revenue increased 20.5% to ₹2,983.8 crore.
EBITDA for the quarter stood at ₹111.7 crore, compared with ₹71.1 crore a year earlier. EBITDA margin expanded to 10.6% from 8.0%, driven by improved operating performance. For the nine-month period, EBITDA grew 41.2% to ₹287.2 crore, with margin at 9.6%.
Profit after tax for Q3 FY26 rose to ₹46.5 crore from ₹33.5 crore, with margin at 4.4%. Nine-month PAT increased 23.4% to ₹118.4 crore.
Exceptional items during the quarter and nine-month period included ₹15.9 crore related to notification of the Labour Code.
Business Segment Performance
LED lighting accounted for 61% of revenue in 9M FY26, while conventional lighting contributed 39%.
Front lighting comprised 69% of total revenue, followed by rear lighting at 22% and others at 9%.
Passenger vehicles remained the largest segment at 65% of revenue mix, followed by two-wheelers at 29% and commercial vehicles and others at 6%.
The company launched new lighting products across passenger vehicles, three-wheelers, and two-wheelers during the quarter.
Network Investments and Outlook
Management cited strong execution and sustained demand momentum across segments. It highlighted focus on premiumization, higher content per vehicle, technology investments, and new order wins.
The company said supportive industry conditions, including GST rate cuts and income tax relief measures, are aiding consumer sentiment and volume growth. It remains confident in its growth outlook, supported by a strong order pipeline and continued operational discipline.
Key Takeaways
- Record quarterly revenue of ₹1,052.7 crore; EBITDA margin expands to 10.6%.
- Q3 PAT rises 39% year-on-year to ₹46.5 crore.
- LED lighting forms 61% of revenue; passenger vehicles contribute 65% of mix.