Lumax Auto Q1 FY26 revenue rises 20% on strong performance across segments
Passenger vehicles continued to dominate Lumax Auto's revenue mix in Q1 FY26, accounting for 55 per cent compared to 53 per cent last year.
EBITDA was ₹136 crore, a YoY increase of 29 per cent, although margins fell marginally to 13.2 per cent from 14 per cent in Q1 FY25. The reason behind this, the company said, was price corrections received from customers after the end of the quarter, and the benefit is likely to be seen in Q2 performance.
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Segment and business mix
Passenger vehicles continued to dominate Lumax Auto's revenue mix in Q1 FY26, accounting for 55 per cent compared to 53 per cent last year. Two- and three-wheeler contributions fell to 21 per cent from 26 per cent, while the commercial vehicle segment improved to 11 per cent from 7 per cent.
Also Read : Lumax group sets aside ₹250 cr for capex
By business mix, advanced plastics was the biggest category at 51 per cent of revenue, followed by structures and control systems at 18 per cent. The alternate fuels segment was 9 per cent of revenue in Q1 FY26, the first time it has featured in the mix.
Operational and strategic developments
The company's OEM business grew 5 per cent YoY, while the aftermarket segment rose 16 per cent. Subsidiaries excluding recently acquired Greenfuel reported 36 per cent growth, which rose to 59 per cent when Greenfuel's performance was included.
During the quarter, Lumax Auto completed the acquisition of the remaining 25 per cent stake in IAC International Automotive India. The company also set up two new wholly owned subsidiaries—Lumax Autocomp Private Limited and Lumax Auto Solutions Private Limited—to explore emerging opportunities in the automotive sector.
The board also approved the establishment of a branch office in China and a new technology centre—SHIFT (Smart Hub for Innovation and Future Trends)—in Bengaluru.
New launches and recognitions
In Q1 FY26, Lumax Auto introduced products for several OEMs, including a shark fin antenna for Mahindra's Scorpio N, feeder assemblies for Honda City export models, and accessory parts for models from Mahindra and Toyota.
Management anticipates EBITDA margins to be in the 14–15 per cent range for the half-year of FY26, driven by recovery on price adjustments and seamless integration of the recent acquisitions. With expansion in EV interiors, alternative fuels, and new technology centers, Lumax Auto is to carry forward growth momentum in segments.
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