Lumax Auto Technologies Ltd
LUMAXTECHLumax Auto Technologies Ltd's price has outrun its earnings. +82.4% in a year against EPS +56.9% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +82.4% in a year while annual EPS moved +56.9% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (70 weeks in) while the P/E sits at the 90th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +83.3% year on year, and 138% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Lumax Auto Technologies Ltd trades at ₹1,994, in a confirmed uptrend and 70 weeks into that stage. That is +25.1% against its own 200-day average. It sits at 96% of a 52-week range of ₹1,128 to ₹2,026. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks.
Today the stock is in a confirmed uptrend — week 70 of stage 2, confirmed. At ₹1,994 it trades +25.1% versus its 200-day average and sits at 96% of its 52-week range (₹1,128–₹2,026).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +3,411% while the NIFTY 500 moved +273% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 5 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Lumax Auto Technologies Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: peak. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. Lumax is converting higher vehicle content, connected systems and capacity additions into earnings growth, but elevated margins make the deterministic PEAK_MARGIN_VALUE_TRAP read central to valuation.
From the numbers. The operating cycle is at a peak. The current weekly PE snapshot is in a fully expanded RIDING_WAVE segment, but the deterministic normalized valuation verdict is PEAK_MARGIN_VALUE_TRAP: current margin is above the…
From the price. Price stage 2, week 70 — above its 200-day line, relative strength rising.
From the research. Lumax is converting higher vehicle content, connected systems and capacity additions into earnings growth, but elevated margins make the deterministic PEAK_MARGIN_VALUE_TRAP read central to valuation.
🚨 Where they disagree. The operating cycle is at a peak. The current weekly PE snapshot is in a fully expanded RIDING_WAVE segment, but the deterministic normalized valuation verdict is PEAK_MARGIN_VALUE_TRAP: current margin is above the through-cycle margin, making normalized valuation more demanding.
What is proven. Lumax is converting higher vehicle content, connected systems and capacity additions into earnings growth, but elevated margins make the deterministic PEAK_MARGIN_VALUE_TRAP read central to valuation.
What is not proven yet. A sustained fall in operating margin below the current band alongside delayed capacity commissioning or weaker order conversion would break the case that higher content and utilization can support earnings growth.
🚨 What would change our mind. A sustained fall in operating margin below the current band alongside delayed capacity commissioning or weaker order conversion would break the case that higher content and utilization can support earnings growth.
Layer 1 read, 22 August 2026 — KEEP. A genuinely good parts maker whose shares have already been re-rated — the cheap part of this move is behind it. Sales rose 32.9% and profit 83.3% against last year, helped by three divisions with real order books. But the shares now cost 40.9 times earnings against a normal 23 for this company, and that multiple nearly DOUBLED over the last two years — so roughly half the recent gain came from investors paying more, not from the business earning more. Worse, last year's profit is flattered: the December quarter carried a one-off tax credit that turned 101cr of pre-tax profit into 108cr of reported profit, so the true multiple is closer to 44.6 times. Quarter on quarter, sales actually fell (1,417cr to 1,364cr) and margin has not moved in a year.
What would change Layer 1’s mind. The timeline's break condition is a sustained fall in operating margin alongside delayed commissioning or weaker order conversion. At my level the flip is upward, not downward, because this is already ranked to the bottom: a Q2 FY27 print with operating margin ABOVE 14% on revenue that grows sequentially past 1,417cr would show the four-quarter flat spot was capacity phasing rather than a peak, and would justify raising both the score and the innings read. Conversely, a second consecutive…
Layer 2 read, 22 August 2026 — BENCH. Lumax is growing, but the share already prices in smooth delivery that management has pushed further out. Revenue and profit rose strongly, but the modelled clean valuation becomes more expensive after normalising peak margins. External work finds a sector-wide promise-slippage problem, and Lumax itself moved a larger share of order execution from FY27 to FY28.
What would change Layer 2’s mind. Flip BENCH to ADVANCE if reported margins stay at or above the current band while the FY27 order-book share is delivered on schedule and the valuation falls back toward its own historical middle; flip to DROP if another dated execution milestone slips.
The test written in advance. A sustained fall in operating margin below the current band alongside delayed capacity commissioning or weaker order conversion would break the case that higher content and utilization can support earnings growth. — the thesis as written as stated by the next result.
The test written in advance. Peak-margin valuation trap — Peak-margin valuation trap Quarterly operating margin below 14%. by the next result.
The test written in advance. Order-book timing drift — Order-book timing drift FY27 order execution remains below the stated share of the June schedule. by the next result.
What the company does. Revenue and reported PAT rose sharply in the latest quarter, while operating margin remained at the top of the company’s recorded band. Mechatronics, Green Fuel and Advanced Plastics supply named growth paths, supported by an order book and new capacity plans. The key investment issue is not whether growth exists, but whether peak-margin execution can justify a valuation above its historical range.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Mechatronics scale-up | in play | — | Connected-vehicle products and the Manesar consolidation create a defined route to larger revenue contribution. | Technology pilots and customer awards do not convert into serial production after the facility is ready. |
| Advanced Plastics and IAC capacity | in play | — | New capacity is being aligned with named OEM demand and existing order-book execution. | New capacity is commissioned without incremental OEM volumes or customer diversification. |
| Green Fuel localization | in play | — | CNG localization and a Mahindra program add content opportunities beyond legacy component supply. | CNG program volumes or localization wins fail to move from the first model into broader customer adoption. |
| Operating leverage with cash support | in play | — | Revenue growth and stable cash-conversion-cycle days give the expansion a cash-quality receipt. | Margin contracts while receivables and inventory increase faster than payables and revenue. |
🚨 What the surface reading misses. The surface reading is: A 14% operating margin indicates current profitability is elevated. The research reads it further: The latest margin coincides with higher revenue, while management attributes the move to mix, efficiency and utilization; the deterministic margin history places the current level near the top of its own band.
🚨 What the surface reading misses. The surface reading is: Cash conversion above one indicates cash generation exceeds reported profit. The research reads it further: Cash was not retained as free cash because capex absorbed a large share, but cash-conversion-cycle days remained broadly stable as revenue scaled.
Lever 1 · Operating leverage — BUILDING. Revenue growth and stable cash-conversion-cycle days give the expansion a cash-quality receipt. What proves it keeps working: Operating leverage with cash support. It stops working if Margin contracts while receivables and inventory increase faster than payables and revenue.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Lumax Auto Technologies Ltd reported ₹1,364 Cr of revenue in the Jun 26 quarter, +32.9% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 18.4% a year. The last full year, FY26, came in at ₹4,870 Cr. The last four reported quarters add to ₹5,208 Cr.
Why this happened. The latest call reported Mechatronics revenue growth and described a divisional order book, while the Manesar facility is intended to consolidate several technology ventures. This is the Value Chain Climb model: higher-content systems can lift revenue per vehicle if customer launches convert.
FY26 revenue came in at ₹4,870 Cr (+33.9% on the year), capping 10 years at 18.4% compound. The latest quarter (Jun 26) printed ₹1,364 Cr, +32.9% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +33.9% growth against the decade's 18.4% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +33.3% over the last 4 quarters against +33.0%/yr over the last 8 — stabilising; TTM profit +58.3% vs +46.3%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Lumax Auto Technologies Ltd's operating margin is 14.0% in the Jun 26 quarter, +2.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 8.0% to 14.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 14.0%, +2.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0%–14.0%, and FY26's 14.0% is the top of that band — a record year.
Why the margin moved: operating margin went +1.8 pp year on year while gross margin went +0.6 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Lumax Auto Technologies Ltd earned ₹99.0 Cr of net profit in the Jun 26 quarter, +83.3% year on year. It is the 12th consecutive quarter of growth. Full-year FY26 profit was ₹337 Cr. The 10-year compound rate is 25.8%. That is 7.3% of the quarter's revenue. The same quarter a year earlier earned ₹54.0 Cr.
Jun 26 profit was ₹99.0 Cr, +83.3% year on year — the 12th consecutive quarter of growth. On the full year, FY26 printed ₹337 Cr (+47.2%), and the 10-year compound rate is 25.8%.
Why profit moved: revenue contributed +32.9% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +62.2% vs revenue +33.9%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 138% of Lumax Auto Technologies Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹460 Cr of operating cash against ₹337 Cr of profit. After ₹375 Cr of capital spending, ₹85.0 Cr was left as free cash.
FY26: operating cash of ₹460 Cr against reported profit of ₹337 Cr, leaving free cash of ₹85.0 Cr after ₹375 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 138% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 138%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.
Router verdict: the bigger cash user is investment — capital spending ran 2.3× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Lumax Auto Technologies Ltd's cash conversion cycle runs 20 days in FY26, up from 14 days in FY21. Capital spending ran ₹966 Cr over the last 3 years. At FY26 sales of ₹4,870 Cr each day of that cycle holds about ₹13.3 Cr, so roughly ₹267 Cr sits inside the business at any moment.
Why this happened. Advanced Plastics reported faster growth in the latest call and management linked the Chakan plant to Mahindra demand. The Capex Inflection Point applies only if commissioning and utilization follow the stated order-book schedule.
FY26: debtors at 76 days, inventory at 52 days — roughly 1.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 20 days, looser than FY21's 14.
The full loop: cash goes out to suppliers and production on day 0; stock waits 52 days to sell; customers pay about 76 days after that; and suppliers themselves are paid at 108 days — netting out to the 20-day cycle.
In money terms: at FY26 sales of ₹4,870 Cr, each day of the cycle holds about ₹13.3 Cr — so the 20-day loop keeps roughly ₹267 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹966 Cr over the last 3 fiscal years against ₹426 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹65.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Lumax Auto Technologies Ltd earns a ROCE of 21% in FY26. That is up from a trough of 13% in FY21. Return on invested capital clears the cost of that capital by +6.5 percentage points, so growth here adds value rather than only size. The wiring behind it is 6.9% net margin on 1.23× asset turns.
FY26 ROCE is 21%, recovered from a FY21 trough of 13% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 6.9% net margin × 1.23× asset turns × 3.26× balance-sheet leverage ≈ 27.7% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 18.5% − 12.0% = a +6.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Lumax Auto Technologies Ltd carries total debt of ₹1,231 Cr against shareholder equity of ₹1,476 Cr as of Mar 26, a debt-to-equity of 0.83. On the annual view that ratio went from 0.27 in FY22 to 0.83 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Why this happened. The Operating Leverage Catapult is partly visible in higher revenue and retained operating margin. Operating cash exceeded PAT over the latest year and the recent aggregate, while the cash-conversion cycle stayed broadly stable despite revenue growth.
Mar 26: total debt of ₹1,231 Cr against shareholder equity of ₹1,476 Cr — a debt-to-equity of 0.83. On the annual view, debt-to-equity went from 0.27 (FY22) to 0.83 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions added 1.8 points of Lumax Auto Technologies Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 8.7% of the company. Domestic institutions moved +0.7 points over the same window, to 16.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +1.8 points over 8 quarters to 8.7%; Domestic institutions: +0.7 points over 8 quarters to 16.5%; Promoters: +0.0 points over 8 quarters to 56.0%.
Why the register moved: foreign institutions drove it (+1.8 points), alongside domestic institutions (+0.7 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Lumax Auto Technologies Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Lumax Auto Technologies Ltd trades at 41.0× P/E, at the pricey end of its own range (90th percentile). Its long-run median P/E is 21.9×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 41.0× is at the pricey end of its own range (90th percentile), against a long-run median of 21.9× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +56.9% against a +82.4% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +70.7%/yr price move, ~+39.2%/yr came from earnings growth and ~+31.5 pp from the multiple (expanding); over 10y, of the +36.9%/yr price move, ~+24.7%/yr came from earnings growth and ~+12.2 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 26 August 2026 price, Lumax Auto Technologies Ltd was paying for profit growth of about 20.0% a year. Profit itself has compounded 25.8% a year over the past 10 years. Today the market pays 41.0× P/E, the 90th percentile of its own 11-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is below what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 26 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Lumax Auto Technologies Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 26.2% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +33.9% | +38.2% | +34.5% | +18.4% |
| Profit | +47.2% | +44.8% | +45.9% | +25.8% |
| EPS | +56.9% | +44.2% | +42.7% | +24.3% |
| Share price | +82.4% | +74.7% | +70.7% | +36.9% |
4-Factor Sector Score
77.7/100 — rank 1 of 20 in Auto Ancillaries - Diversified · 100% evidence confidence
Lumax Auto Technologies Ltd scores 77.7 out of 100 against the 20 companies it is compared with in Auto Ancillaries - Diversified, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 31.2 + 17.9 + 11.6 + 17 = 77.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Lumax Auto Technologies Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Minority Interest Outlook Reduced · 11 August 2026. The latest call lowers the expected minority-interest range to 11%-13%, compared with the 15%-17% range communicated in the February 2026 call and the 17% level expected to remain similar in the June 2026 call. Although the latest call attributes the change to strategic consolidation, it does not quantify or reconcile why the ongoing minority share should decline materially, which could affect consolidated PAT modeling.
Order Book Execution Pace Slowdown · 1 June 2026. In the Nov 2025 call, management projected that 35% of its order book would be executed in FY27. This expectation was slightly reduced to 33% in the Feb 2026 call, but in the June 2026 call, the expected execution in FY27 was revised down significantly to 25% with the bulk shifted to FY28. Management did not provide an explanation for the timeline delay.
Spike in FY27 Capex Guidance · 1 June 2026. In the Feb 2026 call, management estimated that the annual capex required for organic growth would remain between INR150 crore to INR200 crore. However, in the June 2026 call, they revised this projection significantly higher to 275-300 crores for FY27 without outlining how this additional capital would be utilized or what triggered this increase.
Capex Guidance Creep · 13 February 2026. Management has progressively increased its full-year capital expenditure guidance by approximately 20-30% over two quarters without announcing major new strategic projects. In August 2025, guidance was set at INR 180-200 crore, which crept up to INR 200-220 crore in November, and has now been raised again to INR 240 crore in the Feb 2026 call. Earlier call (Aug 2025): “The full year guidance for the capex remains at around INR180 crores to INR200 crores.” Later call (Feb 2026): “The guidance for the full year is close to 240 crore which is a slight increase from the earlier outlook given of around 220 crore.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Lumax Auto Technologies Ltdthis pageLUMAXTECH | 77.7/100Favorable setup100% evidence | BREAKING OUT | 31.2/35 Revenue 33.3% · PAT 58.3% · OPM change 2 pp 100% evidence | 17.9/25 ROCE 21.2% · OPM 14% 100% evidence | 11.6/20 P/E 41× · PEG 0.75 100% evidence | 17.0/20 RS sector 7.7% · RS bench 29.4% · 1Y 86.6%5 of 12 weeks ahead 100% evidence |
| Exact sum: 31.2 + 17.9 + 11.6 + 17 = 77.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2S J S Enterprises LtdSJS | 72.1/100Favorable setup100% evidence | LEADER | 29.6/35 Revenue 28.6% · PAT 67.5% · OPM change 2 pp 100% evidence | 20.4/25 ROCE 28.6% · OPM 29% 100% evidence | 10.1/20 P/E 39.8× · PEG 0.89 100% evidence | 12.0/20 RS sector 6.9% · RS bench 27.6% · 1Y 67.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 29.6 + 20.4 + 10.1 + 12 = 72.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3OBSC Perfection LtdOBSCP | 66.2/100Favorable setup80% evidence | LEADER | 21.9/35 Revenue 37.8% · PAT 46.2% · OPM change 0 pp 95% evidence | 15.6/25 ROCE 19.5% · OPM 17.9% 95% evidence | 8.7/20 P/E 78.8× · PEG — 15% evidence | 20.0/20 RS sector 93.6% · RS bench 126% · 1Y 185.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 21.9 + 15.6 + 8.7 + 20 = 66.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Sansera Engineering LtdSANSERA | 64.4/100Mixed-positive evidence100% evidence | LEADER | 26.6/35 Revenue 23.5% · PAT 52.2% · OPM change 2 pp 100% evidence | 12.0/25 ROCE 14.5% · OPM 19% 100% evidence | 7.2/20 P/E 69.2× · PEG 1.28 100% evidence | 18.6/20 RS sector 49% · RS bench 75.4% · 1Y 202.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.6 + 12 + 7.2 + 18.6 = 64.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Carraro India LtdCARRARO | 59.7/100Mixed-positive evidence93% evidence | TURNING | 23.7/35 Revenue 26.3% · PAT 47.8% · OPM change -2 pp 100% evidence | 15.8/25 ROCE 29.3% · OPM 8% 100% evidence | 15.9/20 P/E 21.9× · PEG 0.42 65% evidence | 4.3/20 RS sector -14.1% · RS bench 3.7% · 1Y 24.4%3 of 12 weeks ahead 100% evidence |
| Exact sum: 23.7 + 15.8 + 15.9 + 4.3 = 59.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.1% and the one-year return is 24.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 6Automobile Corporation Of Goa LtdACGL | 57.1/100Mixed-positive evidence76% evidence | 20.6/35 Revenue 29.7% · PAT 11.5% · OPM change -6 pp 95% evidence | 16.6/25 ROCE 29.6% · OPM 5% 76% evidence | 13.0/20 P/E 18× · PEG — 50% evidence | 6.9/20 RS sector -8.3% · RS bench -3.6% · 1Y -15.3%0 of 12 weeks ahead 70% evidence | |
| Exact sum: 20.6 + 16.6 + 13 + 6.9 = 57.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Bosch LtdBOSCHLTD | 56.8/100Mixed-positive evidence82% evidence | LEADER | 15.9/35 Revenue 13.6% · PAT -11.4% · OPM change 1 pp 95% evidence | 17.6/25 ROCE 21.5% · OPM 14% 76% evidence | 6.3/20 P/E 60.4× · PEG — 50% evidence | 17.0/20 RS sector 6.7% · RS bench 28.1% · 1Y 18.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 15.9 + 17.6 + 6.3 + 17 = 56.8 · Decision use: Price leads the evidence: RS versus the benchmark is 28.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 8Jay Bharat Maruti LtdJAYBARMARU | 56.6/100Mixed-positive evidence87% evidence | FADING | 23.1/35 Revenue 13.3% · PAT 100% · OPM change -2 pp 95% evidence | 13.1/25 ROCE 16.6% · OPM 10% 95% evidence | 14.8/20 P/E 9.1× · PEG — 50% evidence | 5.6/20 RS sector -9.2% · RS bench 7.8% · 1Y 19.5%9 of 12 weeks ahead 100% evidence |
| Exact sum: 23.1 + 13.1 + 14.8 + 5.6 = 56.6 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -9.2% and the one-year return is 19.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 9Minda Corporation LtdMINDACORP | 56.5/100Mixed-positive evidence94% evidence | BREAKING OUT | 26.3/35 Revenue 26.6% · PAT 94.9% · OPM change 0 pp 100% evidence | 8.8/25 ROCE 12.7% · OPM 11% 100% evidence | 8.7/20 P/E 41.8× · PEG 1.58 100% evidence | 12.7/20 RS sector 1.7% · RS bench 19.5% · 1Y 40%11 of 11 weeks ahead 70% evidence |
| Exact sum: 26.3 + 8.8 + 8.7 + 12.7 = 56.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Suprajit Engineering LtdSUPRAJIT | 51.3/100Mixed-positive evidence94% evidence | TURNING | 25.0/35 Revenue 18.4% · PAT 73.2% · OPM change 3 pp 100% evidence | 10.0/25 ROCE 15.5% · OPM 12% 100% evidence | 5.8/20 P/E 35.7× · PEG 5.51 100% evidence | 10.5/20 RS sector -2.5% · RS bench 8.3% · 1Y 6.1%9 of 11 weeks ahead 70% evidence |
| Exact sum: 25 + 10 + 5.8 + 10.5 = 51.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Varroc Engineering LtdVARROC | 50.5/100Mixed-positive evidence87% evidence | BREAKING OUT | 16.6/35 Revenue 14.7% · PAT 39.9% · OPM change -2 pp 100% evidence | 9.6/25 ROCE 19% · OPM 8% 100% evidence | 13.9/20 P/E 46.7× · PEG 0.63 65% evidence | 10.4/20 RS sector -8.5% · RS bench 43.4% · 1Y 44.8%11 of 11 weeks ahead 70% evidence |
| Exact sum: 16.6 + 9.6 + 13.9 + 10.4 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Samvardhana Motherson International LtdMOTHERSON | 49.0/100Mixed-negative evidence100% evidence | LEADER | 20.3/35 Revenue 14% · PAT 24.7% · OPM change 1 pp 100% evidence | 8.7/25 ROCE 13.4% · OPM 9% 100% evidence | 4.8/20 P/E 38× · PEG 5.68 100% evidence | 15.2/20 RS sector 8.7% · RS bench 29.9% · 1Y 73.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 20.3 + 8.7 + 4.8 + 15.2 = 49 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Endurance Technologies LtdENDURANCE | 46.4/100Mixed-negative evidence100% evidence | BREAKING OUT | 17.1/35 Revenue 29.4% · PAT 13.1% · OPM change -1 pp 100% evidence | 12.8/25 ROCE 17.8% · OPM 12% 100% evidence | 9.0/20 P/E 38.5× · PEG 2.33 100% evidence | 7.5/20 RS sector -14% · RS bench 3.7% · 1Y -9.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 17.1 + 12.8 + 9 + 7.5 = 46.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Sharda Motor Industries LtdSHARDAMOTR | 46.3/100Mixed-negative evidence100% evidence | TURNING | 9.0/35 Revenue 25.6% · PAT -1.8% · OPM change -3 pp 100% evidence | 17.4/25 ROCE 34.5% · OPM 10% 100% evidence | 9.6/20 P/E 16.2× · PEG 2.75 100% evidence | 10.3/20 RS sector -13% · RS bench 5.4% · 1Y -10.8%3 of 12 weeks ahead 100% evidence |
| Exact sum: 9 + 17.4 + 9.6 + 10.3 = 46.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15NDR Auto Components LtdNDRAUTO | 44.7/100Mixed-negative evidence87% evidence | ASLEEP | 17.1/35 Revenue 18.2% · PAT 16.4% · OPM change 0 pp 95% evidence | 16.0/25 ROCE 22.2% · OPM 11% 95% evidence | 9.9/20 P/E 25.2× · PEG — 50% evidence | 1.7/20 RS sector -28.4% · RS bench -13.4% · 1Y -38.2%5 of 12 weeks ahead 100% evidence |
| Exact sum: 17.1 + 16 + 9.9 + 1.7 = 44.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Munjal Auto Industries LtdMUNJALAU | 42.1/100Mixed-negative evidence87% evidence | LEADER | 15.0/35 Revenue 22.3% · PAT 19.1% · OPM change 0 pp 95% evidence | 6.6/25 ROCE 9.8% · OPM 6% 95% evidence | 9.1/20 P/E 20.8× · PEG — 50% evidence | 11.4/20 RS sector 1% · RS bench 20.9% · 1Y 20.2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 15 + 6.6 + 9.1 + 11.4 = 42.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17ZF Commercial Vehicle Control System India LtdZFCVINDIA | 39.4/100Mixed-negative evidence100% evidence | BREAKING OUT | 10.8/35 Revenue 9% · PAT 3.1% · OPM change 0 pp 100% evidence | 14.4/25 ROCE 19.4% · OPM 13% 100% evidence | 7.5/20 P/E 57.4× · PEG 4.2 100% evidence | 6.7/20 RS sector -10.7% · RS bench 7.8% · 1Y 13%2 of 12 weeks ahead 100% evidence |
| Exact sum: 10.8 + 14.4 + 7.5 + 6.7 = 39.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Motherson Sumi Wiring India LtdMSUMI | 38.3/100Mixed-negative evidence100% evidence | BASING | 11.3/35 Revenue 28.7% · PAT 4.3% · OPM change -2 pp 100% evidence | 17.1/25 ROCE 38.9% · OPM 8% 100% evidence | 7.7/20 P/E 38.4× · PEG 6.28 100% evidence | 2.2/20 RS sector -28.5% · RS bench -13.1% · 1Y -19.6%1 of 12 weeks ahead 100% evidence |
| Exact sum: 11.3 + 17.1 + 7.7 + 2.2 = 38.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Mercury EV-Tech LtdMERCURYEV | 28.2/100Adverse evidence74% evidence | BREAKING OUT | 8.4/35 Revenue 4.2% · PAT -47.6% · OPM change 0.4 pp 95% evidence | 4.8/25 ROCE 2.6% · OPM 9.8% 95% evidence | 8.5/20 P/E 174× · PEG — 15% evidence | 6.5/20 RS sector -39% · RS bench 15.8% · 1Y -18.9%7 of 9 weeks ahead 70% evidence |
| Exact sum: 8.4 + 4.8 + 8.5 + 6.5 = 28.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Precision Camshafts LtdPRECAM | 26.6/100Adverse evidence81% evidence | ASLEEP | 5.9/35 Revenue -4.9% · PAT -33.3% · OPM change -3.6 pp 95% evidence | 6.5/25 ROCE 7.3% · OPM 3.8% 95% evidence | 10.9/20 P/E 35.2× · PEG — 50% evidence | 3.3/20 RS sector -32% · RS bench -23.2% · 1Y -36.2%1 of 10 weeks ahead 70% evidence |
| Exact sum: 5.9 + 6.5 + 10.9 + 3.3 = 26.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Lumax Auto Technologies Ltd's share price today?
Lumax Auto Technologies Ltd trades at ₹1,994, +82.4% over the past year. The company is valued at ₹13,589 Cr. The stock sits at 96% of its 52-week range of ₹1,128–₹2,026, +25.1% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 70 weeks in. — as of 11 September 2026.
What were Lumax Auto Technologies Ltd's latest quarterly results?
Lumax Auto Technologies Ltd reported revenue of ₹1,364 Cr and net profit of ₹99.0 Cr for the Jun 26 quarter. Revenue rose 32.9% and profit rose 83.3% year on year. Earnings per share were ₹12.71. The operating margin was 14.0%, 2.0 pp higher than a year earlier. — as of 11 September 2026.
What is Lumax Auto Technologies Ltd's revenue?
Lumax Auto Technologies Ltd reported revenue of ₹1,364 Cr in the Jun 26 quarter, +32.9% year on year. For the full FY26 fiscal year, revenue was ₹4,870 Cr (+33.9%). Over the last 10 years revenue compounded at 18.4% a year. — as of 11 September 2026.
What is Lumax Auto Technologies Ltd's profit?
Lumax Auto Technologies Ltd earned ₹99.0 Cr of net profit in the Jun 26 quarter, +83.3% year on year — the 12th straight quarter of growth. Full-year FY26 profit was ₹337 Cr. The operating margin ran 14.0% in the latest quarter. — as of 11 September 2026.
What is Lumax Auto Technologies Ltd's market cap?
Lumax Auto Technologies Ltd's market capitalisation is ₹13,589 Cr at a share price of ₹1,994. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Lumax Auto Technologies Ltd's P/E ratio?
Lumax Auto Technologies Ltd trades at a P/E of 41.0×, at the 90th percentile of its own 11-year range, against a long-run median of 21.9×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Lumax Auto Technologies Ltd pay a dividend?
Yes — Lumax Auto Technologies Ltd's dividend payout was 13% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Lumax Auto Technologies Ltd overvalued?
On its own history, Lumax Auto Technologies Ltd looks expensive: its P/E of 41.0× sits at the 90th percentile of its 11-year range (long-run median 21.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.
Is Lumax Auto Technologies Ltd growing?
Yes — Lumax Auto Technologies Ltd is growing: latest-quarter revenue +32.9% year on year, profit +83.3%, and the margin +2.0 pp at 14.0%. The 10-year compound rates are 18.4% (revenue) and 25.8% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Lumax Auto Technologies Ltd performing?
Lumax Auto Technologies Ltd is in a confirmed uptrend, 70 weeks in. Its latest quarter's revenue rose 32.9% and profit rose 83.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Lumax Auto Technologies Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 26.2% and holding. The read comes from the last 12 quarters of growth (revenue growth +33.3% latest, profit growth +58.3% latest, eps growth +72.8% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Lumax Auto Technologies Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 70 of stage 2), trading +25.1% versus its 200-day average and at 96% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Lumax Auto Technologies Ltd beating the market?
On recent form, yes — Lumax Auto Technologies Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +3,411% against the NIFTY 500's +273% — ahead of the index over the full window. — as of 11 September 2026.
Will Lumax Auto Technologies Ltd's share price go up?
This page publishes no price forecast for Lumax Auto Technologies Ltd. What it measures instead: the share price is ₹1,994, the price is in a confirmed uptrend 70 weeks in. Its P/E of 41.0× sits at the 90th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Lumax Auto Technologies Ltd?
Promoters hold 56.0% of Lumax Auto Technologies Ltd, foreign institutions 8.7%, domestic institutions 16.5% and the public 18.8% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 1.8 points over 8 quarters. — as of 11 September 2026.
Does Lumax Auto Technologies Ltd have too much debt?
It carries real leverage — Lumax Auto Technologies Ltd's debt-to-equity is 1.02, and operating profit covers the interest bill 6×. FY26 borrowings were ₹1,231 Cr against equity of ₹1,211 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.
What is Lumax Auto Technologies Ltd's capex?
Lumax Auto Technologies Ltd spent ₹966 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹375 Cr, with ₹65.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Lumax Auto Technologies Ltd's cash flow?
Lumax Auto Technologies Ltd generated ₹460 Cr of operating cash flow in FY26 and ₹85.0 Cr of free cash flow after ₹375 Cr of capital spending. Reported profit that year was ₹337 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Lumax Auto Technologies Ltd's profit real cash?
Yes — over the last 3 fiscal years, 138% of Lumax Auto Technologies Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹460 Cr against reported profit of ₹337 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Lumax Auto Technologies Ltd in its business cycle?
Lumax Auto Technologies Ltd's FY26 operating margin was 14.0%, against a 13-year band of 8.0%–14.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Lumax Auto Technologies Ltd's price assume?
At its price on 26 August 2026, Lumax Auto Technologies Ltd was priced for profit growth of about 20.0% a year. Profit itself has compounded 25.8% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Lumax Auto Technologies Ltd story?
The sharpest disagreement: the price moved +82.4% in a year while annual EPS moved +56.9% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Lumax Auto Technologies Ltd a stock worth studying right now?
This is not investment advice. The machine read: Lumax Auto Technologies Ltd's price has outrun its earnings. +82.4% in a year against EPS +56.9% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!