Staff Writer
Gurugram: Lumax Auto Technologies Limited, a leading Indian automotive component manufacturer, reported its audited financial results for the fourth quarter and full financial year ended March 31, 2025. The company delivered its highest-ever annual revenue and EBITDA, surpassing key financial milestones and reinforcing its commitment to long-term value creation through operational excellence and strategic expansion.
For the financial year 2024–25 (FY25), the company reported consolidated revenues of ₹3,637 crore, registering a strong 29% year-on-year growth compared to ₹2,822 crore in FY24. This significant increase was driven by robust performance across its OEM and aftermarket segments, new product launches, and the integration of strategic acquisitions.
Profitability also witnessed a substantial improvement, with consolidated profit after tax rising 37% year-on-year to ₹229 crore, compared to ₹167 crore in the previous fiscal year. Earnings per share rose to ₹26.08 from ₹19.10, reflecting improved margins and shareholder value creation.
The company recorded a landmark quarterly revenue of ₹1,133 crore in Q4 FY25, breaching the ₹1,000 crore mark for the first time. This represented a remarkable 50% growth over Q4 FY24 revenue of ₹757 crore, underlining the company’s strong momentum and execution capabilities.
On a standalone basis, Lumax Auto Technologies sustained its upward trajectory. Revenues from OEM customers increased 7% in Q4 and 13% over the full year, highlighting consistent demand from passenger vehicle and two-wheeler manufacturers. The aftermarket segment recorded its first-ever double-digit annual growth, expanding 10% quarter-on-quarter, reflecting increased customer traction and growing brand acceptance across retail channels.
Management Perspective
Anmol Jain, Managing Director of Lumax Auto Technologies, expressed satisfaction over the strong financial and operational performance. “We are pleased to deliver another year of robust growth, with consolidated revenue crossing ₹3,600 crore and profits surging 37%. Our focus on targeted acquisitions, including our strategic entry into the alternative fuels space and full consolidation of IAC India, is aligning well with the automotive sector’s evolution. Improved EBITDA margins speak to the operational efficiencies and synergies from our expanding portfolio. As we move ahead, our strategy will remain centered on leveraging both organic and inorganic levers to drive long-term sustainable growth,” he said.
Strategic Inorganic Growth Initiatives
In line with its growth strategy, the company has made significant moves in FY25 to diversify and future-proof its business model. During the year, Lumax Auto Technologies invested ₹48 crore in Optionally Convertible Redeemable Debentures in its wholly-owned subsidiary Lumax Resources Private Limited. This investment facilitated the acquisition of a 60% controlling stake in Greenfuel Energy Solutions Private Limited for ₹153 crore. The acquisition marked Lumax’s foray into the alternative fuels segment, which is expected to play a pivotal role in India’s evolving mobility landscape.
In a post-year-end development, the company’s Board approved the acquisition of the remaining 25% stake in IAC International Automotive India Private Limited for ₹221 crore, making it a wholly-owned subsidiary. IAC India recently inaugurated two new manufacturing plants in Chakan, Pune, dedicated to Mahindra & Mahindra’s upcoming battery electric vehicles (BEVs), the BE6 and XEV9e, further strengthening Lumax’s footprint in future-ready technologies.
Sustainability and New Ventures
Continuing its commitment to sustainability, Lumax Auto Technologies also approved an investment of up to ₹0.51 crore in AMPIN C&I Private Limited’s subsidiary to become a captive user of solar energy across three of its Maharashtra-based plants. This move aligns with the company’s broader ESG goals and transition toward green manufacturing practices.
To explore emerging business opportunities, the Board also approved the formation of two new wholly-owned subsidiaries: Lumax Auto Solutions Private Limited and Lumax Autocomp Private Limited. These entities will serve as platforms to tap into new product categories and partnerships in the automotive and mobility sectors.
Dividend Declaration
In recognition of the strong financial performance, the Board of Directors has recommended a final dividend of ₹5.50 per equity share for FY25, representing 275% of the face value. The dividend is subject to approval by shareholders at the company’s 44th Annual General Meeting, scheduled for August 25, 2025.
Operational Performance and Segment Analysis
The operational performance in FY25 highlighted strong traction in the passenger vehicle segment, which accounted for 53% of the annual revenue, up from 48% in FY24. This trend was even more pronounced in Q4 FY25, where passenger vehicles contributed 59% of revenue. Meanwhile, contributions from the two/three-wheeler segment declined to 22% for the year from 24%, and the aftermarket share dropped slightly to 11%, though still registering healthy growth. The commercial vehicle and other categories remained stable, contributing 8% and 6%, respectively.
From a business vertical perspective, advanced plastics remained the largest revenue generator at 56%, while the share of structures and control systems decreased to 20%. The mechatronics business saw modest growth, climbing from 2% to 3% over the year. Notably, the newly added alternate fuels vertical contributed 3% to FY25 revenue and surged to 8% in Q4, underscoring the impact of the Greenfuel acquisition.
Product Launches and OEM Engagements
In Q4 FY25, the company continued its focus on innovation and customer-centricity through key product launches. For Mahindra & Mahindra, Lumax delivered cockpit assemblies for the Thar Roxx, BE6, and XEV9e models. With Honda Cars India Ltd. (HCIL), the company supplied gear shifters for both automatic and manual transmissions of the new Amaze, along with shark fin antennas. For Maruti Suzuki India Ltd. (MSIL), the company introduced counter boxes and receptacle assemblies for the newly launched Swift model.
