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Swing Capital

Lumax Auto Technologies Ltd

NSE: LUMAXTECH BSE: 532796

Lumax Auto Technologies Ltd was incorporated in 1981 and is a part of the D.K. Jain Group of companies. It is engaged in the business of manufacturing and supplying of Automotive Lamps, Plastic Moulded Parts, and Frame Chassis to two, three, and four-wheeler segments [1] It has Partnerships with 7 Global players like Yokowo(Japan), JOPP(Germany), and few others.[2]

₹1,623
52W: ₹625 — ₹1899
PE 126 · Book ₹125 · +1198% vs book
Market Cap₹11,061 Cr
Stock P/E126Price to Earnings
ROCE11.5%Return on Capital
ROE10.1%Return on Equity
Div. Yield0.35%Face Value ₹2

Strengths

  • +Company has been maintaining a healthy dividend payout of 44.3%

Weaknesses

  • −Stock is trading at 13.0 times its book value
  • −The company has delivered a poor sales growth of 9.38% over past five years.
  • −Company has a low return on equity of 12.9% over last 3 years.
  • −Earnings include an other income of Rs.64.6 Cr.

Shareholding Pattern

Promoters55.98%
FIIs8.38%
DIIs16.81%
Public18.83%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters55.98%55.98%55.98%55.98%55.98%55.98%55.98%55.98%
FIIs6.93%5.74%▼1.25.91%▲0.25.31%▼0.67.04%▲1.77.33%▲0.38%▲0.78.38%▲0.4
DIIs15.85%16.17%▲0.316.09%▼0.116.09%16.31%▲0.216.59%▲0.316.52%▼0.116.81%▲0.3
Public21.23%22.1%▲0.922%▼0.122.61%▲0.620.66%▼1.920.08%▼0.619.49%▼0.618.83%▼0.7

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales339347354342370382382367436455
Expenses312315323312335344360341407415
Operating Profit27333230353822272940
OPM %8%9%9%9%9%10%6%7%7%9%
Net Profit22184116242212401911
EPS ₹3.212.645.962.283.53.251.815.922.761.6

AI Insights

Revenue Trend

TTM revenue at ₹1,640Cr, up 11.2% YoY. OPM at 7%.

Debt Position

Borrowings at ₹626Cr. Debt-to-equity ratio: 0.75x. Moderate leverage.

Capex Cycle

CWIP at ₹24Cr (7% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 16.81% (+9.96pp change). FIIs: 8.38% (-9.86pp change). Promoters hold 55.98%.

Margin & Efficiency

ROCE declining from 18% (Mar 2014) to 11% (Mar 2025). Working capital days: -56.

Valuation

PE 126x with 11.5% ROCE. Price is 1198% above book value of ₹125. Dividend yield: 0.35%.

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