Key Metrics of Lumax Industries
About Lumax Industries
Sectors
Company details
- Website
- lumaxworld.in
- Registered office
- 2nd Floor, Commercial Complex, Harbans Bhawan-ii, Nangal Raya, South West Delhi, New Delhi, In-dl, 110046
- Listed
- NSE: LUMAXIND · ₹5,152.60
Operational Areas of Lumax Industries
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
PositiveUpgraded by ICRA on 27 Apr 2026 (from A+)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 27 Apr 2026 | ICRA | Upgraded (from A+) | AA- | A1+ | Stable | ₹1,503 Cr | View |
Credit strengths (ICRA, Apr 2026)
+ Strong market position in domestic automotive lighting segment
LIL is a leading supplier of automotive lighting solutions in the domestic market with a product portfolio of automotive lighting systems such as headlamps (69% of revenues in 9M FY2026), tail lamps (22%), and other sundry auxiliary lamps.
+ Diversified customer base and established relationships with OEMs across automobile segments
LIL has a presence across all segments of the automobile industry with 12 manufacturing plants in proximity to its key customers.
+ Trend of improving LED penetration in domestic automotive market augurs well for revenue growth
The LED segment drove 61% of LIL’s revenues in 9M FY2026 compared to 52% in 9M FY2025, aided by the increasing trend of LED adoption by OEMs, especially in the PV and 2W segments.
Credit challenges
− Intense competition in the domestic automotive lighting segment
LIL faces stiff competition from other companies in the automotive lighting industry, such as Uno Minda Limited (PVs and 2Ws), FIEM Industries Limited (2Ws), India Japan Lighting (PVs) and Marelli Motherson Automotive Lighting India Private Limited (PVs).
− Capex plans for the new plant to constrain improvement in credit metrics
The company has material capex plans over the next three years, primarily towards capacity expansion at its existing plants, as well as automation and upgradation initiatives at its Sanand and Bawal facilities.
− Susceptible to demand slowdowns in domestic automotive market
LIL supplies automotive lighting solutions to various OEMs in the domestic market, with exports remaining minimal.
Could lead to an upgrade
The ratings of LIL could be upgraded in case of any material improvement in its credit metrics, while it continues to maintain a healthy scale of operations and diversified business profile.
Could lead to a downgrade
The ratings could be downgraded in case of material weakening of profitability and return indicators on a sustained basis. Pressure on the ratings could also arise in case of a larger -than-expected debt-funded capex and corresponding moderation in profitability, leading to a weakening in the overall financial credit metrics.
Agency-reported financials (ICRA, 27 Apr 2026)
| Metric | FY2024 | FY2025 | 9M FY2026 |
|---|---|---|---|
| Operating income | ₹2,637 Cr | ₹3,405 Cr | ₹2,984 Cr |
| PAT | ₹52.90 Cr | ₹65.20 Cr | ₹76.90 Cr |
| OPBDIT/OI | 8.8% | 8.5% | 9.4% |
| PAT/OI | 2.0% | 1.9% | 2.6% |
| Total outside liabilities/Tangible net worth (times) | 2.90× | 2.70× | — |
| Total debt/OPBDIT (times) | 3.10× | 3.10× | — |
| Interest coverage (times) | 4.50× | 3.80× | 5.10× |
| Revenue growth (YoY) | — | 29.1% | — |
| EBITDA (margin × income) | ₹232 Cr | ₹289 Cr | ₹280 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹719 Cr | ₹897 Cr | — |
| Implied interest cost (EBITDA ÷ coverage) | ₹51.57 Cr | ₹76.15 Cr | ₹55.00 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund-based limits | Working capital & bank lines | ₹480 Cr | ₹570 Cr | 18.9% | AA- (Stable) | Upgraded | ICRA |
| existing limits limits Long-term – Fund-based – Term loans | Term loans | ₹308 Cr | ₹248 Cr | −19.5% | AA- (Stable) | Upgraded | ICRA |
| Long-term – Unallocated limits | Working capital & bank lines | ₹225 Cr | ₹250 Cr | 11.1% | AA- (Stable) | Upgraded | ICRA |
| existing limits limits Short-term – Fund-based limits | Working capital & bank lines | ₹155 Cr | ₹155 Cr | 0.0% | A1+ | Upgraded | ICRA |
| existing limits Short-term – Non-fund based limits | Non-fund based limits | ₹165 Cr | ₹280 Cr | 69.9% | A1+ | Upgraded | ICRA |
Credit assessment · Auto components
Rating Methodology – Auto Components and Equipment (Oct 2026) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 23% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 55% chance the next rating action is stable or better
- Current rating AA- (investment grade)
- Interest coverage 5.1×
- ₹250 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
However, over the past few years, the company has increasingly availed term debt to fund its capex; aided by healthy cash accruals and a moderation in capex levels, the ALM is expected to reduce gradually going forward.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Lumax Industries
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Tata Motors Passenger Vehicles |
Gears, Steering, Brakes & Systems · Auto Components, Forging & Casting | tata.cars | 1945 | Mumbai, India |
 Maruti Suzuki India |
Passenger Cars · Automobile Manufacturers | marutisuzuki.com | 1981 | New Delhi, India |
 Tata Motors |
Outlets operated by Sri Lakshmi Motors. | tatamotors.com | 1945 | Mumbai, India |
 Hyundai Motor India |
Part of Hyundai Motor Company. | hyundai.com/in/en | — | Kanchee- -puram, India |
 Bajaj Auto |
Two-Wheelers & Three-Wheelers · Automobile Manufacturers | bajajauto.com | 1945 | Pune, India |
 Ashok Leyland |
Commercial Vehicles & Buses · Automobile Manufacturers | ashokleyland.com | 1948 | Chennai, India |
 TVS Motor Company |
Two-Wheelers & Three-Wheelers · Automobile Manufacturers | tvsmotor.com | 1979 | Chennai, India |
 Hero MotoCorp |
Outlets operated by Avi Bhatiya. | heromotocorp.com | 1984 | New Delhi, India |
 Skoda Auto Volkswagen India |
Part of Volkswagen Group. | skoda-vw.co.in | 2007 | Pune, India |
| Tube Investments Of India Limited | Pipes & Tubes · Steel, Metals & Pipes | — | — | Chennai, Tamil Nadu, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Automotive lighting and components
Filings
No filings on record yet.