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Lumax Auto Technologies Limited (LUMAXTECH) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹104B

LA Lumax Auto Technologies Limited LUMAXTECH · NSE
Price₹2,049
Fair Value₹900.10
Upside-56.1%
Quality52/100
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Mixed Growth
Thin margins · 5.7% net margin
Low debt · generates free cash flow
0.36% dividend yield
Mixed vs. peers (6/14)
Moderate moat 57/100
Evidence: Medium Range ₹466.27 – ₹1,447 Share as image

Fair value as of: Aug 18, 2026

From 26 valuation models · updated today

Share price +44.3% over the past month.

A solid business, but screening 56% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹1,447). The favourable scenario is already priced in.
  • The model range is unusually wide (₹466.27 to ₹1,447). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹2,076 ₹123.19 Fair Value ₹900.10 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range ₹123.19 – ₹2,076 · fair‑value band ₹466.27 – ₹1,447 · the ₹2,049 price screens above the ₹900.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 18, 2026.

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Analysis

Lumax Auto Technologies Limited (LUMAXTECH) currently trades at ₹2,049, while our model-based Fair Value estimate is ₹900.10, implying the stock looks roughly 56.1% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Lumax Auto Technologies Limited generated revenue of ₹48.7B at a net margin of 5.7%. Revenue grew 25.1% year over year. It earns a return on equity of 24.4%. Net debt stands at ₹11.4B. Fundamentals as of Aug 18, 2026

Our scenario range runs from ₹466.27 (bear case) to ₹1,447 (bull case); at ₹2,049, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 115% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -52% fair-value upside, at -56%, LUMAXTECH screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹219.57 ₹479.00 ₹965.38 80
Residual Income ₹281.98 ₹393.70 ₹2,425 76
Rev-Margin DCF ₹484.30 ₹1,067 ₹1,928 74
All 26 models by family
DCF Models
FCF DCF ₹231.07 ₹426.64 ₹969.85 38
Owner Earnings ₹434.49 ₹1,019 ₹2,227 31
5Y Revenue Exit ₹484.30 ₹1,037 ₹2,050 39
5Y EBITDA Exit ₹642.03 ₹1,382 ₹2,649 41
5Y P/E Exit ₹506.56 ₹1,160 ₹2,000 38
10Y Revenue Exit ₹383.35 ₹972.85 ₹1,791 36
10Y EBITDA Exit ₹517.87 ₹1,265 ₹2,652 37
10Y P/E Exit ₹423.06 ₹1,014 ₹2,035 35
Earnings-Based
Graham-Dodd ₹278.21 ₹1,881 ₹2,636 54
Lynch FV ₹551.60 ₹787.99 ₹1,024 50
PEG = 1.0 ₹551.60 ₹787.99 ₹1,024 46
EPV ₹532.44 ₹628.08 ₹711.76 59
Dividend Discount
Gordon GGM ₹62.79 ₹130.55 ₹207.10 70
DDM Multi-Stage ₹62.79 ₹110.08 ₹137.01 61
Multiples
P/E Multiple ₹675.07 ₹900.10 ₹1,125 63
P/S Multiple ₹521.65 ₹695.53 ₹869.41 58
P/B Multiple ₹521.65 ₹695.53 ₹869.41 55
EV/EBIT ₹908.24 ₹1,225 ₹1,541 53
EV/EBITDA ₹828.14 ₹1,118 ₹1,408 54
EV/Revenue ₹558.85 ₹816.09 ₹1,073 43
Asset-Based
NCAV (Graham) ₹88.78 ₹118.97 ₹177.56 50
Growth DCF
Growth DCF ₹219.57 ₹479.00 ₹965.38 80
Rev-Margin DCF ₹484.30 ₹1,067 ₹1,928 74
Economic Profit
Residual Income ₹281.98 ₹393.70 ₹2,425 76
ROIC Compounder ₹662.84 ₹963.46 ₹1,376 72
Growth Earnings
Growth-Adj P/E ₹779.35 ₹1,113 ₹1,447 68

Widest divergence: Growth Earnings (₹1,113) versus Dividend Discount (₹110.08). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹48.7B
Revenue growth (YoY) +25.1%
Net margin 5.7%
Return on equity 24.4%
Free cash flow ₹1.2B FY2026
P/E ratio 50.1
More key figures
Operating margin 10.7%
EPS (TTM) ₹40.90
Dividend yield 0.4%
EPS growth (YoY) +50.9%
Net debt ₹11.4B FY2026

Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 79

Profitability 60
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 28
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Lumax Auto Technologies Limited, together with its subsidiaries, manufactures and sells automotive components in India. The company offers advanced plastics, such as cockpit and consoles, door panels, air intake systems, urea and plastic fuel tanks, headliners, trims, louvers, head lamps, tail lamps, and front and rear fenders; mechatronics, including power …

Full company description

Lumax Auto Technologies Limited, together with its subsidiaries, manufactures and sells automotive components in India. The company offers advanced plastics, such as cockpit and consoles, door panels, air intake systems, urea and plastic fuel tanks, headliners, trims, louvers, head lamps, tail lamps, and front and rear fenders; mechatronics, including power window switches, oxygen sensors, telematics control units, shark fin antennas, telematics antennas, LF antennas, and throttle position sensors; structures and control systems comprising gear shifter, control housing, monostable e-shifter, frames, swing arms, and seating structure; aftermarket products, such as lighting, horns, wiper blades, filters, engine oils and lubricants, car care products, gear knob, mirrors, and door visor; and alternate fuels consists of pre-bend tubes, electronic pressure regulator, CNG manifold, NGV filling valve, H2 receptacle, CNG cylinder and cylinder valve, H2 re-fueling panel, and safety kit. It also sells various automotive parts and components, as well as moulds and tools for PV, CV and two/three-wheelers. The company serves two, three, and four-wheeler commercial vehicles; and original equipment manufacturers. It also exports its products. The company was formerly known as Dhanesh Auto Electricals Limited and changed its name to Lumax Auto Technologies Limited in 2006. Lumax Auto Technologies Limited was incorporated in 1981 and is based in Gurugram, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Lumax Auto Technologies Limited reported revenue of ₹48.7B in FY2026 versus ₹14.8B in FY2022, a compound +34.7%/yr. Reported net income was ₹2.8B in FY2026, compounding +41.6%/yr from FY2022.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹48.7B
Latest YoY
+41.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+39.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+34.8%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.5%
Revenue +34.7%/yr
FY22 ₹14.8B
FY23 ₹17.9B
FY24 ₹27.6B
FY25 ₹34.4B
FY26 ₹48.7B
Net income +41.6%/yr
FY22 ₹694M
FY23 ₹929M
FY24 ₹1.3B
FY25 ₹1.8B
FY26 ₹2.8B
Character of growth · EPS growth decomposed (2015-2026) +20.3 % p.a.
Revenue per share +17.1 pp

of which total revenue +17.1 pp · buybacks/dilution +0.0 pp

EBIT margin +5.8 pp
Tax rate +0.9 pp
Residual (interest, one-offs) −3.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

LUMAXTECH screens 56% overvalued. Compare with Hyundai Mobis Co →

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Cite: Fair Value Calculator (2026). "Lumax Auto Technologies Limited Fair Value". https://www.fairvalue-calculator.com/stock/LUMAXTECH

Peer Group

Auto Parts · 639 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 52 · Below median
Fair Value upside −56% · Bottom 25%
Return on equity (TTM) 24% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 25% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.31× · Higher than 75% of peers

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 50.1× · Pricier than 75% of peers
P/B 8.58× · Pricier than 75% of peers
P/S (TTM) 2.13× · Pricier than median
P/FCF 0.9× · Cheaper than median
EV/EBITDA 16.2× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 17
FUTURE 100 · sector 24
PAST 97 · sector 26
HEALTH 85 · sector 95
DIVIDEND 7 · sector 34

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 511,000 KRW 643,909 KRW +26%
Magna International Inc MGAN 1,122 MXN 1,142 MXN +2%
Samvardhana Motherson International Limited MOTHERSON ₹169.50 ₹80.63 -52%
Bosch Limited BOSCHLTD ₹46,750 ₹13,061 -72%
Bharat Forge Limited BHARATFORG ₹2,082 ₹393.20 -81%
Uno Minda Limited UNOMINDA ₹1,232 ₹426.57 -65%
Schaeffler India Limited SCHAEFFLER ₹4,126 ₹1,412 -66%
Hankook Tire & Technology Co 161390 71,500 KRW 196,479 KRW +175%
Sona BLW Precision Forgings Limited SONACOMS ₹799.90 ₹207.06 -74%
Balkrishna Industries Limited BALKRISIND ₹2,497 ₹1,211 -51%

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Frequently asked questions

Is Lumax Auto Technologies Limited (LUMAXTECH) overvalued or undervalued?
As of Aug 18, 2026, our model estimates a fair value of ₹900.10 versus a price of ₹2,049, about −56% (overvalued).
What is the fair value of LUMAXTECH?
Our model-based fair value for Lumax Auto Technologies Limited is ₹900.10 (as of Aug 18, 2026), built from audited fundamentals. The current price is ₹2,049.
What is the quality score of LUMAXTECH?
Lumax Auto Technologies Limited has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Lumax Auto Technologies Limited (LUMAXTECH)?
Lumax Auto Technologies Limited reported trailing-twelve-month revenue of about ₹48.7B (latest available figure, as of Aug 18, 2026).
What is the net profit margin of LUMAXTECH?
The net profit margin of Lumax Auto Technologies Limited is about 5.7%, meaning it keeps roughly 5.7% of revenue as net income. Based on the latest reported figures.
Does Lumax Auto Technologies Limited pay a dividend?
Lumax Auto Technologies Limited currently shows a dividend yield of about 0.36% relative to its recent price (as of Aug 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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