Lumax Auto Technologies released its investor presentation covering the 3rd Quarter and Nine Months ended December 31, 2025. The company reported strong revenue growth, with Q3FY26 sales hitting ₹1,271 crore (up 40% YoY) and 9MFY26 revenue at ₹3,453 crore (up 38% YoY). Key highlights include an improved EBITDA margin of 15.0% for Q3FY26 and the formalization of major strategic steps, including the merger of Greenfuel and the 100% acquisition of IAC India.
Q3 & 9M FY26 Financial Performance Highlights
Lumax Auto Technologies (LATL) announced robust performance for the period ending December 31, 2025. The company achieved its second consecutive quarter of highest ever sales in Q3FY26, totaling ₹1,271 crore, marking a 40% YoY growth and a 10% sequential QoQ increase. For the Nine Months (9MFY26), revenue stood at ₹3,453 crore, representing a 38% YoY growth. Based on this momentum, the full-year growth outlook was revised upwards from 25% to 30%.
Profitability and Return Metrics
Profitability showed significant improvement. The consolidated EBITDA margin for Q3FY26 reached 15.0%, an increase of 100 basis points YoY. The 9MFY26 EBITDA was ₹497 crore, yielding a margin of 14.4% (up from 14.0% in 9MFY25). Profit After Tax (PAT, before minority interest) saw a substantial 60% YoY jump to ₹240 crore for the nine-month period. Free Cash generation was strong at ₹421 crore (9% of revenue), leading to a low net debt position.
Strategic Integrations and Mergers
Significant progress was noted across key corporate actions. The Greenfuel merger (with SPV) is complete. The IAC Merger (with LATL) has completed the first motion and is awaiting further orders. The company is actively pursuing the second motion for the LAL Merger. Furthermore, the Greenfuel acquisition is expected to unlock growth across diversification, technology leveraging (CNG, Hydrogen), and synergies, positioning the company in the Alternate Fuel Systems market.
EV Agnostic Portfolio and Content Growth
LATL continues to focus on its EV-agnostic product portfolio across 4W and 2W segments. The projected content per vehicle remains high, with 4W content at ₹70K – ₹75K and 2W content at ₹22K – ₹25K, both sectors showing a 5X growth trajectory over the last five years. Revenue diversification is evident, with Advance Plastics leading at 52% of Product Wise Revenue (9M FY26), while the 2/3W segment accounts for 53% of Segment Wise Revenue.
The Next Mid-Term Plan (FY26 – FY31): BRIDGE Strategy
The strategic roadmap for the next five years is termed BRIDGE, aiming to transform the company from a Tier-1 to a Tier-0.5 System Integrator. The NorthStar strategy is defined by 20.20.20.20 goals:
- 20% CAGR (Minimum) in Revenue (Targeting ₹11,000 Crore by FY31E, driven by 15% organic growth).
- 20% Future & Clean Mobility contribution.
- 20% Vision for EBITDA Margin.
- 20+% ROCE – Capital Efficiency.
Key pillars of the BRIDGE strategy include an Aftermarket Overhaul pivoting to demand-led growth, a Foray into Body Control Modules (BCMs), the launch of the SHIFT Smart Hub for SDV solutions, the 100% IAC Takeover to boost free cash, and accelerating ESG initiatives focused on carbon neutrality and inclusion.
Order Pipeline Strength
The current order book totals ₹1,450 Crore, with 40% (₹580 Crore) allocated to Future & Clean Mobility projects. This pipeline is scheduled for completion by FY29, with significant execution planned for FY27 (₹472 Crore) and FY28 (₹643 Crore).
CSR and Governance Milestones
The presentation also showcased significant achievements in ESG and governance. The company is progressing through its environmental roadmap (RE 40 to RE 100), aiming for higher diversity ratios, including a target of 25% diversity ratio by FY28-29. Furthermore, the leadership team and the group’s various subsidiaries, including LCAT and LATL, received numerous awards from major OEMs like Tata Motors, Maruti Suzuki, and Honda Motorcycle & Scooter India (HMSI) for excellence in sustainability, quality, and innovation.
Source: BSE
