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Employees: 8,320
Size Lumax Industries (LUMAXIND.NS) is an India Consumer Discretionary company (Auto Parts: OEM) with a market value of $539M, the 814th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹5,437 on 6 Nov 2026.
Performance Over six months the shares gained 0.2%, against -19.4% for the median peer and 0.0% for the India market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 28.8% over the last twelve months (peer median +4.7%); the operating margin is 6.0% (peer median 5.2%).
Valuation It trades at 22.4× forward earnings against a peer median of 16.4× (4th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.7 points below its cost of capital (11.5% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹48.2B | ₹41.5B | ₹33.6B | ₹26.4B | ₹23.2B |
| Revenue growth | — | +24% | +27% | +14% | — |
| Gross profit | ₹8.66B | ₹5.16B | ₹3.54B | ₹3.24B | ₹3.25B |
| EBITDA | ₹4.54B | ₹3.97B | ₹2.46B | ₹2.33B | ₹2.11B |
| Net income | ₹2.04B | ₹1.72B | ₹1.40B | ₹1.11B | ₹1.03B |
| Free cash flow | n/a | ₹453M | -₹1.63B | -₹1.43B | -₹78.8M |
| Capital expenditure | n/a | ₹2.89B | ₹3.24B | ₹2.62B | ₹906M |
| Total debt | ₹10.7B | ₹9.73B | ₹8.88B | ₹7.23B | ₹4.31B |
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Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LUMAXIND.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.7% | -9.7% | 3rd highest of 21 |
| 6-month return | +0.2% | -19.4% | 4th highest of 21 |
| Distance from 52-week high | -21.6% | -44.2% | 3rd highest of 21 |
| Revenue growth (TTM) | +28.8% | +4.7% | 4th highest of 21 |
| Operating margin | 6.0% | 5.2% | 8th highest of 21 |
| Forward P/E | 22.4× | 16.4× | 4th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 22.7% | 7.6% | 3rd most demanding of 15 |
| Growth delivered (Del g) | +23.8% | +9.9% | 2nd highest of 15 |
| Hurdle (Req g minus delivered) | -1.1 pp | -2.9 pp | 7th most demanding of 15 |
| ROIC minus cost of capital | -0.7 pp | -1.4 pp | 9th highest of 21 |
| EV / EBITDA | 13.5× | 7.4× | most expensive of 5 |
| Net debt / EBITDA | 2.3× | -0.7× | most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lumax Industries LUMAXIND.NS | India | $539M | 0% | +29% | 6% | 22.4× | 22.7% | +23.8% |
| Shenzhen Soling Industrial 002766.SZ | China | $538M | -11% | -57% | -29% | n/a | n/a | n/a |
| Wuhu Sanlian Forging 001282.SZ | China | $537M | -23% | +2% | 5% | 24.8× | n/a | n/a |
| Zhejiang Xiantong Rubber & Plastic 603239.SS | China | $540M | -44% | +9% | 14% | 20.8× | 8.6% | +19.8% |
| Hyliion HYLN | United States | $534M | +22% | +163% | -649% | n/a | n/a | n/a |
| Ningbo Fangzheng Automobile Mould 300998.SZ | China | $532M | -5% | +2% | -3% | n/a | 57.3% | +14.9% |
| Shanghai Sinotec 603121.SS | China | $546M | -46% | +2% | -2% | 30.2× | n/a | n/a |
| Shanghai Kelai Mechatronics Engineering 603960.SS | China | $549M | -37% | +4% | 0% | 45.0× | n/a | n/a |
| Sharda Motor Industries SHARDAMOTR.NS | India | $526M | -5% | +26% | 10% | n/a | 16.7% | +14.4% |
| Press Kogyo 7246.T | Japan | $525M | +14% | +11% | 7% | 10.5× | -4.8% | +5.6% |
| Futaba Industrial 7241.T | Japan | $524M | -5% | +2% | 3% | 5.9× | -3.8% | +7.7% |
| Hi-Lex 7279.T | Japan | $520M | -17% | +32% | 1% | n/a | 3.0% | +9.2% |
| Hamaton Automotive Technology 300643.SZ | China | $559M | -10% | +7% | 18% | n/a | 6.4% | +9.1% |
| Tieliu 603926.SS | China | $515M | -32% | -4% | 4% | n/a | 6.6% | +9.6% |
| Fiem Industries FIEMIND.NS | India | $513M | -19% | +17% | 11% | 16.4× | 21.3% | +18.2% |
| Jiangsu Changshu Automotive Trim 603035.SS | China | $567M | -23% | +17% | 2% | 11.4× | -8.4% | +26.2% |
| Chongqing Qin'an M&E 603758.SS | China | $567M | -25% | -1% | 6% | 16.6× | 8.8% | +8.2% |
| Hangzhou Zhengqiang 301119.SZ | China | $510M | -20% | +5% | 19% | n/a | 19.9% | +10.1% |
| G-Tekt 5970.T | Japan | $570M | +16% | +5% | 5% | 6.2× | n/a | n/a |
| Dalian Demaishi Precision Technology 301007.SZ | China | $571M | -31% | 0% | 6% | n/a | 34.5% | +7.6% |
| Zhejiang Tenchen Controls 603085.SS | China | $507M | -31% | +29% | 6% | 14.4× | 1.3% | +16.2% |