In 1984, the company entered into a technical collaboration with Stanley Electric Co. Ltd., Japan (SECL), which currently holds around 37.5% equity stake. With a vast portfolio of end-to-end lighting products including headlamps and tail lamps, the company leads in technological innovation by adopting advanced technologies like LED solutions, leveraging strategic partnerships with renowned global firms including Japan-based Stanley Electric Co. and South Korea's SL Corporation.
Cyborg Score Rationale
Lumax Industries reports record Q3 FY26 with 18.7% revenue growth to ₹1,053 crore, EBITDA margin rose to 10.6% from 8%, and order book at ₹1,759 crore with capex raised to ₹350-400 crore. Strong growth momentum and margin expansion indicate solid operational execution and market demand.
Top Insights
Record Q3 FY26 with 18.7% YoY revenue growth to ₹1,053 crore and EBITDA margin expansion to 10.6%.
Company has 29 manufacturing facilities across 7 states in India.
Preferred supplier to virtually every major OEM in India including Maruti Suzuki, Hero Motocorp, Honda, Mahindra & Mahindra, Tata Motors, Toyota, and others.
Q2 FY26 revenue growth of 24.2% driven by LED lighting demand and strong OEM partnerships, with management anticipating strong H2 FY26 demand.
Named Competitors
Automotive Lighting Solutions — Parent company holding 37.5% stake, global leader in vehicle lighting
Two & Three-Wheeler Lighting — Related DK Jain Group company focusing on two, three & four-wheeler segments
Recent Developments
(February 2026) Record Q3 FY26 with 18.7% revenue growth to ₹1,053 crore, EBITDA margin 10.6%, order book ₹1,759 crore.
(November 2025) Q2 FY26 revenue rose 24.2% YoY to Rs. 1,009 cr with EBITDA margin at 9%, new Bengaluru plant CAPEX Rs. 140 cr targeting Rs. 450 cr turnover.
(November 2025) Lumax Industries surged 10.9% on 25 Nov closing at ₹5,552.4 and hitting 52-week high of ₹5,790.9.
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30-page strategic research, 15-min analyst-debate audio briefing, full Cyborg Score breakdown across 11 dimensions.