Lumax Auto Technologies Limited — Q2 FY25 earnings call

Revenue

• GreenFuel Annualized Revenue Revenue · FY26 · High confidence ₹300-350 crores

  So for, let's say, on a full year basis, we are expecting anywhere between INR300 crores to INR350-odd crores of revenues with a stronger EBITDA margin than what we are looking at currently across the most of our subsidiaries and joint ventures. ... But this guidance, which I gave for an annualized number is more for FY '26.

  — Anmol Jain

• Mechatronics Revenue Growth Revenue · FY26 · High confidence more than double

  We are planning to more than double up our revenue on mechatronics division, which includes Ituran, Alps Alpine, FAE, and Yokowo portfolio.

  — Vikas Marwah

• Aftermarket Growth Revenue · FY25 · Medium confidence high single-digit

  for the full year, we still expect a high single-digit growth rate for aftermarket in the current financial.

  — Anmol Jain

• Lumax Mannoh Growth Revenue · YoY · Medium confidence 12-15%

  We are anticipating a year-on-year growth of about 12% to 15%, depending on the OEM demand holding up.

  — Vikas Marwah

• Lumax Cornaglia Revenue Revenue · FY25 · High confidence ₹160-180 crores

  for the current year, we are still looking at H2 being a better growth driver because of certain new products as well. So we should be for the full year looking at close to approximately between INR160 crores to INR180 crores of revenue for the current year.

  — Anmol Jain

• Lumax Cornaglia Growth Revenue · FY26 · Medium confidence high single-digit

  And again, for the next year, because we have some order book, we should be looking at a high single-digit growth for Lumax Cornaglia next year.

  — Anmol Jain

• Lumax Cornaglia Roto Moulding Revenue Revenue · next 24 months · Medium confidence ₹25-30 crores

  again, we are looking at a INR25 crores to INR30 crores revenue coming from there, which would make it viable.

  — Vikas Marwah

• Alps Alpine Revenue Growth Revenue · H2 FY25 · High confidence double

  In H2, stand-alone H2 basis, we are looking at doubling our revenues compared to the previous year.

  — Anmol Jain

• Alps Alpine Revenue Revenue · FY25 · High confidence ₹50 crores

  So for the full year, we are looking at a handsome 50% year-on-year growth for Alps Alpine. We should be close to INR50 crores revenue, although on a small base for the current fiscal.

  — Anmol Jain

• Alps Alpine Revenue Revenue · FY26 · High confidence ₹100 crores

  And next year, we are looking to perhaps cross the INR100 crore revenue mark for Alps Alpine.

  — Anmol Jain

• Yokowo Growth Revenue · FY25 · High confidence 50-70%

  Apart from that, let's say, something like Yokowo will also be growing at a very strong rate of, let's say, 50% to 70% in the current financial year as well as continuing that growth momentum over the next financial year as well.

  — Anmol Jain

• Ituran Revenue Growth Revenue · FY25 · High confidence double

  for the full year, we are looking at still doubling our revenue

  — Anmol Jain

• Ituran Revenue Growth Revenue · FY26 · Medium confidence 20-30%

  but that growth momentum will continue on a maybe 20% to 30% mark over next fiscal year as well.

  — Anmol Jain

• Mechatronics Domain Growth Revenue · FY25 · High confidence 70-80%

  And mechatronics, as was explained earlier, will grow at almost close to 70% to 80% this year.

  — Anmol Jain

• Mechatronics Domain Revenue Revenue · FY26 · High confidence ₹200 crores

  And next year also, we expect the revenues of mechatronics domain to double, maybe crossing the INR200 crores mark.

  — Anmol Jain

• Organic Growth Rate Revenue · next 3 years · High confidence 12-15%

  So if the industry grows, let's say, at around 8% to 10%, we should easily be looking at a 12% to 15% growth organically.

  — Anmol Jain

• Lumax JOPP Revenue Revenue · FY25 · High confidence ₹12-15 crores

  But we do expect that on a full year basis, this should double up to maybe anywhere between INR12 crores to INR15 crores in terms of revenues.

  — Anmol Jain

Profitability

• GreenFuel EBITDA Margin Profitability · FY26 · High confidence stronger than current subsidiaries

  So for, let's say, on a full year basis, we are expecting anywhere between INR300 crores to INR350-odd crores of revenues with a stronger EBITDA margin than what we are looking at currently across the most of our subsidiaries and joint ventures.

  — Anmol Jain

• IAC EBITDA Margin Profitability · H2 FY25 · High confidence 16-18%

  And in the near future, let's say, specifically for H2, we do expect a similar margin to be maintained.

  — Anmol Jain

• EBITDA Margin Profitability · next 3 years · High confidence 14-15%

  we should be able to expand those EBITDA margins further, perhaps from 14% to 15%.

  — Anmol Jain

Capacity

• IAC Capacity Utilization Capacity · H2 FY25 · Medium confidence 85%

  So post the investments, I would say that our capacity utilizations would still be close to around 85-odd percent.

  — Anmol Jain

• FAE Plant Capacity Utilization Capacity · FY26 · High confidence 40%

  for the full year FY '26, we are anticipating almost 40% capacity utilization of the plant that we have put up.

  — Vikas Marwah

Capex

• Capex Outlay Capex · FY25 · High confidence ₹120-140 crores

  the Capex outlay for the whole year is estimated to be around INR120 crores to INR140 crores.

  — Sanjay Mehta

Efficiency

• Capex to Additional Revenue Ratio Efficiency · FY25 · High confidence 1:7

  So from an asset turnover, the additional Capex to additional revenue will be almost INR1:7 in FY '25 itself.

  — Anmol Jain

Volume

• FAE Oxygen Sensors Supply Volume · FY26 · High confidence 0.5 million sensors

  We are looking at supplying almost 0.5 million sensors in the next financial year.

  — Vikas Marwah

Tax

• Tax Rate Tax · future · High confidence 26%

  The tax rate for the quarter is 26% and is likely to continue in the same range in the future.

  — Sanjay Mehta

Debt

• Annual Long-term Debt Repayment Debt · annual · High confidence ₹75 crores

  Annual repayment schedule for the whole year was -- long-term debt was INR75 crores.

  — Ankit Thakral