Lumino Industries targets 35,000 MT Ranihati capacity by FY29

Lumino Industries Limited expects the first 10,000 metric tonne (MT) phase of its Ranihati cable plant to begin commercial production in Q4 FY27, the fourth quarter of fiscal year 2027, within a Rs 180 crore expansion designed to reach 35,000 MT by Q1 FY29. Lumino Industries says the completed project would raise installed manufacturing capacity from 40,000 MT to 75,000 MT.

When will Lumino Industries start Ranihati cable production?

Lumino Industries expects commercial production from the first 10,000 MT phase at Ranihati in Q4 FY27. Its disclosed commissioning schedule then provides for another 10,000 MT in Q3 FY28 and a final 15,000 MT in Q1 FY29, taking the new unit's total annual capacity to 35,000 MT.

The timetable is a management expectation, rather than reported production. Unit III at Ranihati was under construction when the company issued its November 2026 presentation covering the quarter and half year ended September 30, 2026. The existing manufacturing base consists of Unit I and Unit II in Jangalpur, Howrah, with combined capacity of 40,000 MT.

The phased plan would add a third manufacturing facility to Lumino Industries' two operating units. Management described the Ranihati expansion as central to its next phase of growth and said its priorities include advancing the project, increasing specialised conductor and cable contribution, and executing its order book efficiently.

What products will Lumino Industries make at Ranihati?

Lumino Industries plans to make low-tension and high-tension (HT) cables at Ranihati, including concentric cable, quad cable, control cables, HT cables, medium-voltage covered conductors, solar cables, instrumentation cables and railway signalling cables. The stated facility capability includes HT power cables up to 66 kilovolts for industrial and infrastructure applications.

The project is directed at cable manufacturing rather than conductor capacity. Unit I currently produces overhead aluminium conductors, high-temperature low-sag (HTLS) conductors, low-tension cables and power cables, while Unit II produces power cables and electrical wires. The company operates its electrical wire business under the Lumicon brand.

Lumino Industries also identified potential to manufacture extra-high-voltage cables up to 132 kilovolts at Ranihati. That statement is a potential portfolio extension, not a disclosed commissioning date, capital commitment or capacity target. The announced 35,000 MT capacity plan covers the three phases scheduled through Q1 FY29, and the company said surplus land is available for further manufacturing expansion.

How large is Lumino Industries' Ranihati investment and footprint?

Lumino Industries has disclosed a Rs 180 crore expansion plan for Unit III at Ranihati, Howrah, comprising 15 acres of land, 35,000 MT of total capacity and 250,000 square feet of constructed area. A separate manufacturing-platform slide describes the new facility area as 650,000 square feet and says the capacity will be added in phases.

The existing footprint is materially smaller in capacity terms. Unit I at Jangalpur has 31,000 MT of capacity and Unit II has 9,000 MT, producing the current 40,000 MT total. Adding the proposed 35,000 MT at Ranihati would take the total to 75,000 MT, as management stated in its commentary.

Capacity utilisation at the operating units varied over the last three financial years. Consolidated utilisation was 70% in FY24, increased to 82% in FY25, and decreased to 79% in FY26. Unit I recorded 78.9%, 81.3% and 79.1% over those years, while Unit II recorded 41.6%, 84.6% and 78.2%, respectively.

The location is intended to support domestic and export operations through access to ports, railways and highways, according to the presentation. Lumino Industries also said its Jangalpur facilities include an in-house testing laboratory accredited by the National Accreditation Board for Testing and Calibration Laboratories, while the company completed its first cable export shipment to the United States in FY26.

What operating momentum supports Lumino Industries' cable expansion?

Lumino Industries reported manufacturing revenue of Rs 831 crore in H1 FY27, up 22% from Rs 679 crore in H1 FY26, while manufacturing earnings before interest, tax, depreciation and amortisation (EBITDA) rose 35% to Rs 108 crore. Manufacturing EBITDA margin increased to 13.0% from 11.7% in the previous-year half.

Engineering, procurement and construction (EPC) revenue grew faster during the same period, rising 32% to Rs 352 crore from Rs 267 crore. Its EBITDA increased 31% to Rs 47 crore, but its margin was 13.5%, compared with 13.6% in H1 FY26. Manufacturing nevertheless accounted for 70% of H1 FY27 revenue of Rs 1,183 crore, versus 30% from EPC.

The order book at September 30, 2026 was Rs 2,885 crore, comprising Rs 922 crore of manufacturing work and Rs 1,963 crore of EPC work. Manufacturing backlog was lower than Rs 1,158 crore at FY26, while EPC backlog was slightly below Rs 1,992 crore. Management also reported Rs 386 crore of orders received after September 30, 2026, and said it was the lowest bidder, or L1, in tenders worth Rs 555 crore.

At the consolidated level, H1 FY27 revenue increased 25% year on year to Rs 1,183 crore, EBITDA increased 34% to Rs 155 crore, and profit after tax increased 42% to Rs 93 crore. Cash flow from operations was Rs 56 crore for the half year; the company said it would have been Rs 124 crore excluding repayment of Rs 68 crore of trade acceptances.

Conclusion

Ranihati is Lumino Industries' disclosed route to add 35,000 MT of cable capacity, increasing total installed manufacturing capacity from 40,000 MT to 75,000 MT. The plan adds HT cable capability up to 66 kilovolts and follows H1 FY27 manufacturing revenue growth of 22%, although the manufacturing order book at September 30 was Rs 922 crore, below the Rs 1,158 crore reported at FY26.

The immediate milestone is management's expected Q4 FY27 commercial-production start for the initial 10,000 MT phase. The next disclosed phases are 10,000 MT in Q3 FY28 and 15,000 MT in Q1 FY29; progress against those dates, the Rs 180 crore plan, and any decision to pursue 132-kilovolt extra-high-voltage cables are the stated matters to watch.