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Lumax Auto Technologies Ltd (LUMAXTECH)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532796 NSE: LUMAXTECH Auto Ancillary | Small Cap | Lumax Auto Tech. Share Price
₹1,991 44.75 (2.30%)
As on 11-Sep'26 15:19
Lumax Auto Technologies Ltd (LUMAXTECH)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532796 NSE: LUMAXTECH Auto Ancillary | Small Cap | Lumax Auto Tech. Share Price
₹1,991 44.75 (2.30%)
As on 11-Sep'26 15:19
Key Metrics
Valuation Multiples
Market Cap
₹13,265 Cr.
Current Price
₹1,991
52-Week Low / High
₹1,045 / 2,149
TTM EPS
₹47.6
TTM Sales
₹5,208 Cr.
Book Value per Share
₹192
P/E Ratio
40.93
Higher than its 5-year historical median
Industry PE
49.2
Price to Book (P/B)
10.13
Higher than its 5-year historical median
Price to Sales (P/S)
2.55
Higher than its 5-year historical median
EV/EBITDA
18.30
Lower than its 5-year historical median
Dividend Yield
0.28%
Profitability Efficiency
Return on Equity (ROE)
31.44%
Outperforms industry median
Return on Capital Employed (ROCE)
26.17%
Outperforms industry median
Return on Assets (ROA)
9.39%
Operating Profit Margin
13.6%
Net Profit Margin
6.92%
Gross Profit Margin
12.2%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
25.56%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
41.63%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
47.12%
Asset Quality
Promoter Holding
55.98%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,295 Cr.
Equity
₹13.6 Cr.
Face Value
₹2
All Time Low / High
₹3.02 / 2149.00
Check Before You Invest
Quality
Very GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Strong
Is Lumax Auto Technologies Ltd a good quality company?
Lumax Auto Technologies Ltd is a good quality company, based on a consistently good 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 Lumax Auto Technologies Ltd performance compare with that of its Peers?
Revenue growth of Lumax Auto Technologies Ltd vs industry peers?
Lumax Auto Technologies Ltd revenue CAGR is 31.90%, compared to the industry median CAGR of 13.71%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Lumax Auto Technologies Ltd?
Promoters hold 55.98% of the Lumax Auto Technologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Lumax Auto Technologies Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 36.7% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Lumax Auto Technologies Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.6% | 12.5% | 19.8% | 14.1% | 12.6% | 14.6% | 14.3% | 15.3% | 22.3% | 20.7% | - |
| Value Creation Index ⓘ | -0.6 | -0.1 | 0.4 | 0 | -0.1 | 0.0 | 0.0 | 0.1 | 0.6 | 0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 481 | 498 | 958 | 942 | 903 | 1,196 | 1,322 | 1,335 | 2,871 | 3,605 | 2,943 |
| Sales YoY Gr. | - | 3.5% | 92.5% | -1.6% | -4.2% | 32.5% | 10.5% | 1% | 115.2% | 25.6% | - |
| Adj EPS ⓘ | 1.1 | 3.2 | 6.9 | 7.6 | 6 | 8.2 | 11.3 | 13.5 | 24.5 | 32.2 | 23.4 |
| YoY Gr. | - | 191% | 112.4% | 10.1% | -21.2% | 37.5% | 38.5% | 19.2% | 81.6% | 31.3% | - |
| BVPS (₹) ⓘ | 28.6 | 37.9 | 65.4 | 60.8 | 71.6 | 70.9 | 85.5 | 98.8 | 145.3 | 152 | 162.9 |
| Adj Net Profit ⓘ | 7.6 | 22 | 46.8 | 51.4 | 40.6 | 55.8 | 77.2 | 92 | 167 | 219 | 160 |
| Cash Flow from Ops. ⓘ | 18.7 | 51.2 | 52.2 | 45 | 80.9 | 50.6 | 88 | 52.6 | 230 | 316 | - |
| Debt/CF from Ops. ⓘ | 1.8 | 0 | 1 | 1.5 | 0.4 | 1.9 | 2.9 | 7 | 2.7 | 2.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 25.1% | 31.9% | 39.7% | 25.6% | ||||
| Adj EPS ⓘ | 45.4% | 40.2% | 41.6% | 31.3% | ||||
| BVPSⓘ | 20.4% | 16.3% | 21.2% | 4.6% | ||||
| Share Price | 36.8% | 70.6% | 74.6% | 85.3% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.6 | 9.7 | 13.3 | 12 | 9 | 11.5 | 14.5 | 14.6 | 20.1 | 21.6 | 14.9 |
| Op. Profit Mgn % ⓘ | 4.9 | 6.2 | 7.7 | 7.3 | 7.3 | 7.4 | 8.1 | 8.5 | 11.8 | 12.2 | 11.2 |
| Net Profit Mgn % ⓘ | 1.6 | 4.4 | 4.9 | 5.5 | 4.5 | 4.7 | 5.8 | 6.9 | 5.8 | 6.1 | 5.4 |
| Debt to Equity ⓘ | 0.2 | 0 | 0.1 | 0.2 | 0.1 | 0.2 | 0.4 | 0.6 | 0.6 | 0.8 | - |
| Working Cap Days ⓘ | 96 | 126 | 97 | 102 | 103 | 92 | 88 | 94 | 97 | 129 | 56 |
| Cash Conv. Cycle ⓘ | 4 | 6 | 10 | 24 | 23 | 18 | 19 | 22 | 23 | 28 | -14 |
Valuation of Lumax Auto Tech. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 965 | 1,013 | 1,187 | 1,141 | 1,108 | 1,508 | 1,847 | 2,822 | 3,637 | 4,870 |
| Operating Expenses ⓘ + | 892 | 925 | 1,077 | 1,050 | 1,010 | 1,356 | 1,647 | 2,453 | 3,171 | 4,211 |
| Operating Profit ⓘ | 73 | 88 | 110 | 91 | 98 | 151 | 201 | 369 | 465 | 659 |
| Operating Profit Margin (%) | 7.6% | 8.7% | 9.3% | 8.0% | 8.9% | 10.0% | 10.9% | 13.1% | 12.8% | 13.5% |
| Other Income ⓘ + | 10 | 15 | 14 | 18 | 18 | 13 | 24 | 45 | 51 | 46 |
| Interest ⓘ | 4 | 2 | 3 | 10 | 10 | 10 | 17 | 69 | 80 | 106 |
| Depreciation ⓘ | 24 | 24 | 27 | 35 | 34 | 40 | 52 | 118 | 129 | 179 |
| Profit Before Tax ⓘ | 53 | 74 | 88 | 65 | 72 | 113 | 147 | 227 | 308 | 406 |
| Tax ⓘ | 16 | 25 | 31 | 14 | 20 | 31 | 35 | 60 | 79 | 69 |
| Profit After Tax | 37 | 48 | 56 | 51 | 51 | 82 | 111 | 167 | 229 | 337 |
| PAT Margin (%) | 3.9% | 4.8% | 4.7% | 4.5% | 4.6% | 5.4% | 6.0% | 5.9% | 6.3% | 6.9% |
| Adjusted EPS (₹) | 5.1 | 7.2 | 9.7 | 8.5 | 6.9 | 10.2 | 13.6 | 19.1 | 26.1 | 40.9 |
| Dividend Payout Ratio (%) | 18.60% | 28% | 31% | 35.20% | 43.40% | 34.40% | 33% | 28.80% | 21.10% | 13.40% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 371 | 451 | 480 | 446 | 531 | 544 | 662 | 790 | 935 | 1,210 | |
| Debt + | 21 | 8 | 66 | 88 | 52 | 119 | 540 | 591 | 652 | 821 | |
| Minority Interest | 22 | 30 | 42 | 42 | 40 | 61 | 187 | 224 | 359 | 266 | |
| Trade Payables | 141 | 270 | 239 | 157 | 205 | 231 | 384 | 486 | 686 | 860 | |
| Others Liabilities ⓘ | 68 | 98 | 101 | 126 | 161 | 184 | 407 | 499 | 605 | 790 | |
| Total Liabilities ⓘ | 624 | 858 | 929 | 860 | 990 | 1,139 | 2,179 | 2,589 | 3,235 | 3,947 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 228 | 254 | 289 | 337 | 363 | 396 | 1,016 | 991 | 1,293 | 1,494 | |
| CWIP ⓘ | 14 | 12 | 22 | 21 | 9 | 12 | 13 | 36 | 69 | 65 | |
| Investments ⓘ | 85 | 142 | 120 | 62 | 131 | 122 | 201 | 405 | 390 | 565 | |
| Inventories | 55 | 78 | 60 | 64 | 84 | 112 | 161 | 249 | 366 | 412 | |
| Trade Receivables | 155 | 281 | 278 | 193 | 223 | 266 | 461 | 578 | 792 | 1,015 | |
| Cash Equivalents | 40 | 39 | 56 | 104 | 98 | 138 | 157 | 75 | 80 | 94 | |
| Others Assets ⓘ | 46 | 52 | 104 | 80 | 82 | 92 | 170 | 256 | 245 | 302 | |
| Total Assets ⓘ | 624 | 858 | 929 | 860 | 990 | 1,139 | 2,179 | 2,589 | 3,235 | 3,947 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 64 | 95 | 56 | 76 | 98 | 87 | 137 | 265 | 290 | 460 |
| Cash Flow From Investing Activity ⓘ + | -57 | -57 | -89 | -32 | -76 | -65 | -476 | -249 | -216 | -280 |
| Cash Flow From Financing Activity ⓘ + | 3 | -37 | 37 | -33 | -43 | 10 | 365 | -40 | -53 | -170 |
| Net Cash Flow ⓘ | 10 | 1 | 4 | 11 | -20 | 32 | 26 | -24 | 21 | 10 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.36 | 11.74 | 12.08 | 11.01 | 10.47 | 15.24 | 18.49 | 23.01 | 26.58 | 31.44 |
| ROCE (%) | 15.64 | 17.51 | 17.98 | 13.67 | 14.25 | 19.26 | 17.37 | 22.03 | 24.44 | 26.17 |
| Asset Turnover Ratio | 1.79 | 1.4 | 1.33 | 1.28 | 1.22 | 1.44 | 1.13 | 1.2 | 1.26 | 1.37 |
| PAT to CFO Conversion(x) | 1.73 | 1.98 | 1 | 1.49 | 1.92 | 1.06 | 1.23 | 1.59 | 1.27 | 1.36 |
| Working Capital Days | ||||||||||
| Receivable Days | 58.30 | 76.70 | 85.80 | 75.20 | 67.40 | 58.30 | 70.70 | 66.40 | 68.10 | 67.10 |
| Inventory Days | 19.90 | 23.50 | 21.20 | 19.80 | 24 | 23.30 | 26.50 | 26.20 | 30.60 | 28.90 |
| Payable Days | 81.50 | 107.70 | 117.20 | 96.10 | 89.40 | 79.10 | 94.30 | 89.70 | 97.30 | 94.30 |
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Lumax Auto Technologies Ltd FAQs
The current trading price of Lumax Auto Tech. on 11-Sep-2026 15:19 is ₹1,991.
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 10-Sep-2026 the market cap of Lumax Auto Tech. stood at ₹13,265.2 Cr
The latest P/E ratio of Lumax Auto Tech. as of 10-Sep-2026 is 83.09.
The latest P/B ratio of Lumax Auto Tech. as of 10-Sep-2026 is 11.95.
The 52-week high of Lumax Auto Tech. is ₹2,149 and the 52-week low is ₹1,044.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Lumax Auto Tech. is ₹2,943 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Lumax Auto Technologies Ltd is a good quality company.
The key valuation ratios of Lumax Auto Technologies 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 Strong which suggest that the price of Lumax Auto Technologies Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Lumax Auto Technologies Ltd
Founded in the year 1981, Lumax Auto Technologies (LATL) is a part of the D.K. Jain Group of companies that has carved its strong position in automotive parts like sheet metal parts, fabricated assemblies, tubular parts for two wheeler and three wheeler industry. Under the aegis of Mr. D K Jain, today Lumax Technologies has captured sizable market in its arena with an annual turnover of over Rs. 450 Crores ($ 110 Million) including its subsidiaries.
Lumax Technologies is a publicly traded company in India. The shareholding pattern depicts a holding of 60% by Indian Promoters, and 40% is held by public, comprised of over 15,000 shareholders.
The company is serving its customers from six modern manufacturing plants in India. Of these, Three are located in Pune, Three plants in Aurangabad, and an R&D centre in Pune. All these facilities are strategically located in the Automotive industrial belt in the State of Maharashtra in West of India. Our product line includes Two wheeler chassis, Exhaust systems & Mufflers, Fork & Handle bar assemblies, Petrol tanks, among numerous others.
Its advanced process engineering, manufacturing and testing facilities include :
- A well-equipped tool development setup.
- Robotic welding lines and SPMs.
- Paint shops for internal heat resistance painting, powder coating and external painting.
- Excellent capability for maintenance of jigs & fixtures
Lumax Technologies is an ISO certified company - focus on customer satisfaction and quality leadership and are committed to achieve excellence in quality of our products and services. The dynamic management core at Lumax Technologies, through their insightfully crafted growth strategy is very keen on building a powerful bond with a wider client base in India, & would be delighted to serve you in their journey towards excellence.
Product range of the company includes:
- Chasis- For motorcycles & scooterette
- Exhaust system- For scooter & scooterette
- Petrol tanks- For scooter & scooterette
- Gear shift lever
- Sheet metal & Tubular Welded Parts- For handle bar Assey,Side Stand,Main stand,Footrest Assey,Fork Assey, Number Plate.
- Parking Brake
Milestones:
- 1981 -A Private Limited Company was established in the name of Lumax Auto Electricals Pvt. Ltd. to manufacture and supply Automotive components at Bhosari.
- 1988 -Second Unit was started at Waluj, Aurangabad for supplying auto parts to Bajaj Auto Ltd. - Aurangabad.
- 1988 -Name changed from Lumax Auto Electricals Private Limited to Dhanesh Auto Electricals Private Limited.
- 1993 -R & D centre established at Chinchwad, Pune to cater to the development requirement for the new business.
- 1995 -Third Unit started at Chakan, Pune for further major diversification for manufacturing of exhaust systems and fuel tanks for two wheelers.
- 1997 - Fourth Unit started at Waluj, Aurangabad for the production of motorcycle chassis for Bajaj Auto Limited.
- 1998 - Company became deemed Public Limited and name changed to Dhanesh Auto Electricals Limited.
- 2000 -Bajaj Auto Limited selected the company as a cluster member for T.P.M. Activities.
- 2002 - Started Lighting Division at Chakan.
- 2004 - Received ISO Certificate for Chakan Unit.
- 2005 - Received ISO Certificate for Bhosari Unit.
- 2006 -LDK became our 100% subsidiary.Name of the Company was changed to LATL.
- 2007 - Started PCMA, Bhosari, Pune Plant
Achievements/ recognition:
- LATL is an ISO 9001 : 2000 Company.
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