'
Lumax
Industries hosted a conference call
on Nov 10, 2025. In the conference call, the company was represented by: Mr.
Deepak Jain – Chairman & Managing Director, Mr. Anmol Jain – Joint Managing
Director, and Mr. Raju Ketkale – CEO
Key takeaways of the call
In
Q2 FY26, PV segment witnessed muted trend, while 2W and CVs showed strong
performance.
The
PV segment is set to recover sharply from Q3 FY26 driven by recent GST reforms,
and new product launches from OEMs.
Post-GST
Cut, the company has upgraded its revenue growth guidance to 20–25% for FY26,
up from 15–20%. Additionally, the company is confident of good growth in FY27.
Margins
for the quarter were affected by exceptional foreign exchange fluctuations in
Q2 FY26. Excluding the impact of forex losses, the EBITDA margin would have
been approximately 70–80 basis points higher than th...
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