āagman

Not investment advice. Data and computed figures, for information only.

Lumax Industries Ltd

NSE: LUMAXIND
₹5,402.50
+₹56.50 (+1.06%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹4,927 Cr
CMP
₹5,402.50
52-wk High / Low
₹6,935 / 4,480
P/E
24.5
P/B
5.4
Book Value
₹982.0
Div Yield
1.04%
ROCE
18.0%
ROE
22.0%
Face Value
₹10
D/E
1.06

Price+9.3% over 1Y

āagman read

Computed by āagman
Derived from 11 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹2,019
√(22.5 × EPS × book value per share)
ROIC
10.4%
vs 11.5% sector median
Cash flow to profit
2.17
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+11
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
16.4%
ROE × earnings retention ratio
ROE stability
3.8
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.27DII +0.63
Latest quarter vs the previous one
Cash-accrual divergence
−6.4%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 0.5pp over the last year
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 24.5x is below the sector median of 35.7x
Watch-outs
−Latest ROCE of 18% trails the sector median of 18.5%
−Borrowings are up 666.1% since FY2016 (127 to 973)
−Price trades below its 200-day moving average (1.0x)
−Annualised volatility of 47.6% is in the high band (≥45%)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6186446327437668128879239231,0091,0531,2001,223
Expenses5675895736777087528178448419209421,0761,114
Operating Profit51555866586070798289111124110
OPM %8.3%8.5%9.2%8.9%7.6%7.4%7.9%8.6%8.9%8.8%10.5%10.3%9.0%
Other Income1415132831221825161411115
Interest10111315161919181819191818
Depreciation21212427262627333237384542
Profit before tax34383552463742534847557264
Net Profit23262636342833443636475451
EPS (₹)24.7328.0827.3738.5936.5730.2535.8247.0438.7238.1349.8057.8854.64

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 11 years + TTM
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,2521,2711,6491,8511,6021,4261,7512,3202,6373,4004,1844,485
Expenses1,1641,1701,5151,6981,4431,3261,6162,1122,4053,1203,7784,052
Operating Profit89101135154158100135208231280406433
OPM %7.1%7.9%8.2%8.3%9.9%7.0%7.7%9.0%8.8%8.2%9.7%9.7%
Other Income4171957192735170844341
Interest13118162229223049737574
Depreciation384148606465648093113152162
Profit before tax416598134923353149159178223238
Net Profit525471104721841103111140172187
EPS (₹)55.6658.1676.34111.0376.9219.4243.56110.27118.77149.67184.51200.45

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital99999999999—
Reserves259300353426437451482574662765908—
Borrowings12792104140347338401431723888973—
Other Liabilities4634787516154905646548521,2071,1991,544—
Total Liabilities8598801,2171,1901,2831,3621,5461,8662,6012,8613,435—
Fixed Assets4084195185496536277117499681,1061,434—
CWIP1720345032474843178212105—
Investments697988819092102147179246278—
Other Assets3653625775105085966859271,2761,2971,619—
Total Assets8598801,2171,1901,2831,3621,5461,8662,6012,8613,435—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity8110014010410376108108133212373
Cash from Investing Activity−37−62−128−97−194−31−129−90−245−293−265
Cash from Financing Activity−59−39−11−696−5134−2613759−92
Net Cash Flow−15−2116−513−824−2216

Ratios

As of 31 Mar 2026
11 periods
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—19.024.022.017.08.011.019.017.016.018.0
ROE %——————————22.0
EPS (₹)55.6658.1676.34111.0376.9219.4243.56110.27118.77149.67184.51
Book Value (₹)——————————982.0
Face Value (₹)——————————10
P/E——————————24.5
Div Yield %——————————1.04
NPM %4.14.24.35.54.41.22.34.34.14.04.1
OPM %7.08.08.08.010.07.08.09.09.08.010.0
D/E0.470.300.290.320.780.730.820.741.081.151.06
P/B——————————5.4

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+13.0%
5 years+24.0%
3 years+22.0%
TTM+27.0%
Compounded profit growth
10 years+14.0%
5 years+62.0%
3 years+21.0%
TTM+42.0%
Stock price CAGR
10 years+20.0%
5 years+30.0%
3 years+33.0%
Last year+7.0%
Return on equity
10 years17.0%
5 years19.0%
3 years20.0%
Last year22.0%

Shareholding pattern

As of 31 Mar 2026
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.53%74.65%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs2.20%0.74%0.72%0.73%0.64%0.25%0.84%1.09%0.97%1.63%1.36%
DIIs1.31%0.55%1.23%0.93%1.12%0.36%0.62%1.46%5.63%6.07%6.70%
Government———————————
Public22.95%24.06%23.05%23.34%23.24%24.39%23.54%22.44%18.39%17.30%16.94%
No. of shareholders18,52414,22417,44417,50418,77422,42420,08919,32918,66023,69024,495
Change since Sep 2023 (pp)
Promoters +1.47FIIs −0.84DIIs +5.39Public −6.01

Documents

As of 11 Oct 2026
Announcements
Closure of Trading WindowShareholder Meeting / Postal Ballot-Scrutinizer''s ReportShareholder Meeting / Postal Ballot-Outcome of AGMShareholder Meeting / Postal Ballot-Scrutinizer''s ReportAnnouncement under Regulation 30 (LODR)-Earnings Call Transcript
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026TranscriptJun 2026PPTJun 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPT

Corporate actions

As of 6 Aug 2026
6 Aug 2026DIVIDENDDividend - Rs 55 Per Share—
7 Aug 2025DIVIDENDDividend - Rs 35 Per Share—
9 Sep 2024DIVIDENDDividend - Rs 35 Per Share—
10 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 27 Per Share—
8 Jul 2022DIVIDENDAnnual General Meeting/Dividend - Rs 13.5 Per Share—
20 Aug 2021DIVIDEND Annual General Meeting/Dividend - Rs 7 Per Share—
20 Aug 2020DIVIDEND Annual General Meeting/Dividend - Rs 6 Per Share—
24 Mar 2020DIVIDEND Interim Dividend - Rs 17.50 Per Share—
14 Aug 2019DIVIDEND Annual General Meeting/Dividend - Rs 35 Per Share—
9 Jul 2018DIVIDEND Dividend- Rs 23 Per Share—
13 Jul 2017DIVIDEND Annual General Meeting/Dividend - Rs 14.50 Per Share—
17 Mar 2016DIVIDEND Interim Dividend - Rs 12/- Per Share (Purpose Revised)—
10 Aug 2015DIVIDENDAnnual Gereral Meeting/Dividend - Rs 5.50/- Per Share—
13 Aug 2014DIVIDENDAnnual General Meeting/Dividend - Rs.3.50/-Per Share—
25 Jul 2013DIVIDENDAnnual General Meeting / Dividend - Rs.4.50/- Per Equity Share—
26 Jul 2012DIVIDENDAnnual General Meetinh/Dividend Rs 6 Per Share—
28 Jul 2011DIVIDENDAnnual General Meeting And Dividend Rs.6/- Per Share—
8 Jul 2010DIVIDENDDividend-Rs.3/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman