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Lumino Industries Ltd (LUMINO)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544894 NSE: LUMINO Electric Equipment | | Lumino Industries Share Price

₹114.53 4.14 (3.75%)

As on 04-Sep'26 16:59

Lumino Industries Ltd (LUMINO)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544894 NSE: LUMINO Electric Equipment | | Lumino Industries Share Price

₹114.53 4.14 (3.75%)

As on 04-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,488 Cr.
Current Price
₹114.5
52-Week Low / High
₹106 / 122
TTM EPS
₹5.3
TTM Sales
₹2,041 Cr.
Book Value per Share
₹40.4
P/E Ratio
21.80
In line with its 5-year historical median
Industry PE
54.3
Price to Book (P/B)
2.84
Lower than its 5-year historical median
Price to Sales (P/S)
1.71
In line with its 5-year historical median
EV/EBITDA
14.00
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
24.59%
Outperforms industry median
Return on Capital Employed (ROCE)
18.11%
Outperforms industry median
Return on Assets (ROA)
7.86%
Operating Profit Margin
12.4%
Net Profit Margin
7.84%
Gross Profit Margin
10.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
6.42%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
7.85%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
27.85%
Asset Quality
Promoter Holding
71.97%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,078 Cr.
Equity
₹152.3 Cr.
Face Value
₹5
All Time Low / High
₹106.48 / 119.00

Lumino Industries stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Weak
Q.1 Is Lumino Industries Ltd a good quality company?
Lumino Industries Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Lumino Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Lumino Industries Ltd vs industry peers?
Lumino Industries Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 14.48%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Lumino Industries Ltd?
Promoters hold 71.97% of the Lumino Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Lumino Industries Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Lumino Industries Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 12.6%9.3%21.4%21.2%18.1%-
Value Creation
Index
-0.1-0.30.50.50.3-

Growth Parameters

Sales 6047601,4071,9182,0412,041
Sales YoY Gr.-25.9%85.1%36.3%6.4%-
Adj EPS 1.51.13.64.85.75.3
YoY Gr.--28.8%232.1%32.6%19.4%-
BVPS (₹) 13.814.818.323.43040.4
Adj Net
Profit
37.326.588.1117140160
Cash Flow from Ops. -6373.7-92.2-239156-
Debt/CF from Ops. -3.24-4.8-3.66.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA39%6.4%
Adj EPS NANA73.9%19.4%
BVPSNANA26.6%27.9%
Share Price - - - -

Key Financial Parameters

Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
11.17.621.92321.514.9
Op. Profit
Mgn %
107.511.212.212.4NAN
Net Profit
Mgn %
6.23.56.36.16.87.8
Debt to
Equity
0.60.811.51.3-
Working Cap
Days
02812232422970
Cash Conv.
Cycle
01451041281630

Valuation of Lumino Industries - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Sales6047601,4071,9182,041
Operating Expenses + 5447121,2541,6841,789
Manufacturing Costs95106383529501
Material Costs3725287279621,107
Employee Cost 2629516884
Other Costs 50509412597
Operating Profit 6048153234252
Operating Profit Margin (%) 10.0%6.3%10.9%12.2%12.4%
Other Income + 1313222949
Exceptional Items 00000
Interest 2228487780
Depreciation 66101616
Profit Before Tax 4627116169205
Tax 66294445
Profit After Tax 392187125160
PAT Margin (%) 6.5%2.7%6.2%6.5%7.8%
Adjusted EPS (₹)1.60.93.65.16.6
Dividend Payout Ratio (%)0%0%0%0%0%
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 337360446571730
Share Capital 183030122122
Reserves 319329416449608
Debt +194283432776974
Long Term Debt4039201028
Short Term Debt154244412766946
Minority Interest00000
Trade Payables47100136100255
Others Liabilities 228216304412251
Total Liabilities 8079591,3181,8602,211

Fixed Assets

Net Fixed Assets +3641587580
Gross Block556488121140
Accumulated Depreciation1924304661
CWIP 5951148
Investments 256873624
Inventories69123179259364
Trade Receivables396302460721895
Cash Equivalents 68217132227251
Others Assets 207263397530549
Total Assets 8079591,3181,8602,211
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + -6374-92-239156
PBT 4627116169205
Adjustment 823317459
Changes in Working Capital -11436-214-438-33
Tax Paid -3-13-26-44-75
Cash Flow From Investing Activity + 45-144-4-13-41
Capex -10-19-20-50-52
Net Investments 48-1318161
Others 7692110
Cash Flow From Financing Activity + 196999311-102
Net Proceeds from Shares 00000
Net Proceeds from Borrowing 10-1-1766-63
Interest Paid -12-20-35-63-63
Dividend Paid 00000
Others 208915130825
Net Cash Flow 0-136014
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)11.665.9621.5324.624.59
ROCE (%)12.559.2521.3721.2118.11
Asset Turnover Ratio0.8311.241.211
PAT to CFO Conversion(x)-1.623.52-1.06-1.910.98
Working Capital Days
Receivable Days214.70144.1098.60112.30144.50
Inventory Days37.6039.7039.1041.7055.70
Payable Days46.4050.9059.3044.8058.60

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Announcements

Lumino Industries Ltd FAQs

The current trading price of Lumino Industries on 04-Sep-2026 16:59 is ₹114.5.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Sep-2026 the market cap of Lumino Industries stood at ₹3,488.1 Cr

The latest P/E ratio of Lumino Industries as of 03-Sep-2026 is 21.80.

The latest P/B ratio of Lumino Industries as of 03-Sep-2026 is 2.84.

The 52-week high of Lumino Industries is ₹122.0 and the 52-week low is ₹106.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Lumino Industries is ₹2,041 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Lumino Industries Ltd is a below average quality company.

The key valuation ratios of Lumino Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Lumino Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Lumino Industries Ltd

Lumino Industries was incorporated as ‘Lumino Industries Limited’ at Kolkata, West Bengal as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated March 30, 2005 issued by the Registrar of Companies (RoC). The company received its certificate of commencement of business, issued by the RoC, on March 31, 2005.

Lumino Industries is a product-driven integrated engineering, procurement and construction (EPC) player in India, with strong focus on manufacturing and supplying conductors, power cables and electrical wires and other specialised products and components to the growing power transmission and distribution industry in India. The company is also manufacturing high-temperature low-sag (HTLS) conductors used in distribution and transmission lines in India. By leveraging its decades of experience in the power transmission and distribution industry, it has developed a product driven business model focused on designing, engineering, manufacturing and distributing specialised products used in a wide range of power transmission and distribution, industrial applications, electrical wiring, renewable energy projects, communication systems, electrical panels and railway networks applications.

The company supplies conductors, power cables and other specialised products to large EPC players. The company also caters its products to international clients, which include government owned and controlled electricity companies, public enterprises and electricity boards, in countries such as United States of America, Mali, Burkina Faso, Nepal, Bangladesh, Kenya, Ghana, Rwanda and Ethiopia. Further, in line with its product-driven strategy and integrated operations, it also supplies products for captive consumption in the EPC projects executed by the company.

Business area of the company

Lumino Industries is engaged in the manufacturing and selling of cables and conductors. The company is also manufacturing HTLS conductors used in distribution and transmission lines in India.

Products of the company

Aluminium conductors

  • All Aluminium Conductor Alloy Reinforced (ACAR)
  • Thermal Resistant Aluminium Conductor Steel Reinforced (TACSR and TACSR/AW)
  • High Conductivity Alloy Conductors (AL7 and AL59)

HTLS Conductors

  • Aluminium Conductor Fiber Reinforced (ACFR)
  • HTLS Aluminium Conductors Steel Supported (ACSS) conductors
  • Super Thermal Resistant Aluminum Alloy Conductor, Aluminum Clad Invar Reinforced (STACIR and STACIR/TW)
  • Gap Type Thermal-Resistant Aluminium Alloy Conductor Steel Reinforced (GTACSR)
  • Extra High Strength–Thermal resistant Aluminium Alloy Conductor Steel Reinforced (Hi-TACSR and Hi-TACSR/AW)

Power cables

  • LV XLPE/PVC insulated power cables
  • LV XLPE/PVC insulated control cables
  • LV aerial bunch cable
  • Railway signalling cable
  • Concentric cable
  • Screened and instrumentation cable
  • Solar cables

  • MV overhead covered conductors
  • LV FR/FRLSH/FR-LSZH fire performance cables
  • Underwriters Laboratories (UL) cables
  • Quad cables
  • The medium voltage cross linked cable

Electrical wires

  • UL 44 – Thermoset insulated wire
  • Single-core service wire
  • House wires

Awards, accreditations and recognition

  • 2013: Received an ‘Award for Excellence’ by Federation of Small & Medium Industries, West Bengal.
  • 2018: Awarded runner up in the MSME Vendor-conductor category by Power Grid Corporation of India Limited
  • 2018: Received a certificate of award for its contribution in completion of the ‘Har Ghar Bijli/SAUBHAGYA Scheme’ by the Bihar State Power (Holding) Company Limited.
  • 2018: Awarded ‘Most Promising Manufacturer of Conductors, Cables & EPC division in India’ by the Worldwide Achievers Private Limited at the Worldwide Achievers Business Leaders Summit and Awards 2018.
  • 2018: Awarded ‘Manufacturing the best conductors and cables’ by the West Bengal Manufacturing Leadership Awards 2018.
  • 2019: Recognized as ‘One of the best case study presentations under steel and manufacturing service category in Micro, Small and Medium Enterprises’ by the Bengal Chamber of Commerce and Industry
  • 2019: Awarded the ‘Most promising company in manufacturing of cables and conductors from east’ at the Times Business Awards Kolkata 2019.
  • 2019: Awarded the Skoch-NSE Award for MSME excellence (silver) by the Skoch group.
  • 2026: Awarded ‘Times Power Icons Award’ for leading manufacturer of industrial wire, cables and conductors.

History and milestones

  • 1989: The company was initially formed as a partnership firm as ‘Lumino Industries’ to manufacture and deal in cables, conductors and other electrical goods
  • 1999: Established a factory for manufacturing in Kolkata, West Bengal.
  • 2006: Diversified into power distribution EPC sector.
  • 2018: Diversified into the solar EPC sector.
  • 2019: Set up a furnace in Jalan Industrial Complex, Howrah, West Bengal for manufacturing of aluminium alloy rod and aluminium wire rod
  • 2020: Crossed the Rs 10,000 million gross turnover mark for the first time, including the highest export turnover of Rs 673 million.
  • 2020: Diversified into the manufacturing of High-tension low sag (HTLS) conductors.
  • 2023: Secured its first water EPC project awarded by the Public Health Engineering Directorate, Government of West Bengal.
  • 2023: Recorded an order book of Rs 26,110 million.
  • 2024: Achieved the highest gross turnover of around Rs 16,000 million in Fiscal 2024.
  • 2025: Received grade A in the MQP approval from the Power Grid Corporation of India Limited for the supply of AL 59 and ACSR conductors.
  • 2026: Entered into conductor manufacturing licenses and core supply agreement with CTC Global Corporation.
  • 2026: Crossed the Rs 20,000 million gross turnover mark and PAT of Rs 1,600 million.

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