Its revenue was up 23.3% to ₹1,008.6 crore from ₹811.8 crore in the second quarter last fiscal.
Lumax Industries’ earnings before interest, tax, depreciation and amortisation (EBITDA) increased 34% to ₹88.7 crore from ₹66.2 crore in the September quarter last year.
Its margin expanded to 8.8% from 7.4% in the year-ago period.
Board approves investments
The company’s board also gave its approval to invest up to ₹1.61 crore to acquire up to 26% stake in the equity share capital of Power Pulse Trading Solutions Ltd., a power trading subsidiary of Adani Energy Solutions Ltd., for the renewable energy to be generated by the power plant of the latter for the Lumax’s manufacturing facilities at Haridwar, Pant Nagar and Sanand.The board also approved the setting up of a new manufacturing plant in Bengaluru with a capital outlay of around ₹140 crore. The project will cater to the new orders received by Maruti Suzuki India Ltd. and Toyota, it said. The capex will be funded by internal accruals and the peak annualised turnover is expected to the tune of around ₹450 crore post commissioning. The project is expected to be commissioned by the fourth quarter of the financial year 2027.
Shares of Lumax Industries are trading 6.9% lower after the earnings announcement at ₹4,507. The stock nearly doubled in value in the last six months.
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