Lumino Industries reports 30% Q2 revenue growth to Rs 661 crore

Lumino Industries Limited reported consolidated revenue from operations of Rs 661 crore in Q2 FY27, a 30% year-on-year increase, while profit after tax rose 51% to Rs 53 crore. The September-quarter performance was supported by higher operating earnings, and the company ended the period with an order book of Rs 2,885 crore.

What did Lumino Industries report for Q2 FY27?

Lumino Industries reported revenue from operations of Rs 661 crore for the quarter ended September 30, 2026, compared with Rs 509 crore in Q2 FY26. Operating EBITDA increased 34% year-on-year to Rs 84 crore from Rs 63 crore, and the operating EBITDA margin improved to 12.8% from 12.4% a year earlier.

Profit after tax rose to Rs 53 crore in Q2 FY27, against the prior-year figure implied by the disclosed 51% growth rate. The company reported a PAT margin of 7.9% for the quarter. These results were included in Lumino Industries' unaudited financial update and investor presentation for the second quarter and first half of FY27.

The Q2 update follows the June 2026 quarter, when Lumino Industries had reported revenue from operations of Rs 521.43 crore and reported PAT of Rs 40.36 crore. The September-quarter revenue was therefore higher than the June-quarter figure disclosed in the company's quarterly-results data, although the presentation primarily provided year-on-year comparisons.

How did the first half of FY27 perform?

Lumino Industries recorded revenue from operations of Rs 1,183 crore in H1 FY27, up 25% from Rs 946 crore in H1 FY26. Operating EBITDA for the six-month period rose 34% year-on-year to Rs 155 crore, with an EBITDA margin of 13.1%.

H1 FY27 PAT stood at Rs 93 crore, with a margin of 7.8%. The company also reported positive cash flow from operations of Rs 56 crore during the first half. Cash generation is a relevant measure for a business that combines manufacturing operations with EPC project execution, where order fulfilment and working-capital requirements can affect cash flows.

The half-year results indicate that the increase in Q2 revenue was part of a broader first-half improvement rather than a standalone quarterly movement. Lumino Industries did not provide a detailed segment-wise revenue or profitability break-up in the information released with the presentation.

What does Lumino Industries' order book show?

Lumino Industries had an order book of Rs 2,885 crore as of September 30, 2026, comprising Rs 922 crore in the manufacturing segment and Rs 1,963 crore in the EPC business. The EPC business accounted for the larger share of the disclosed order book.

An order book represents work contracted or awarded but not yet recognised as revenue. It is therefore an operational indicator rather than reported sales. For Lumino Industries, the disclosed backlog provides visibility into manufacturing and project-execution activity, subject to project schedules, customer approvals, material availability and other execution conditions.

The company said it intends to execute the order book efficiently while pursuing EPC opportunities that draw on its manufacturing capabilities and project experience. Its stated focus areas include substations, distribution infrastructure and high-temperature low-sag, or HTLS, reconductoring projects.

How is the Ranihati project linked to Lumino Industries' plans?

Lumino Industries said its Ranihati expansion project remains on track for commercial production in Q4 FY27. The project is intended to increase manufacturing capacity and broaden the company's product portfolio.

The company has identified the Ranihati expansion as one of its strategic priorities alongside increasing the contribution from specialised conductors and cables. The presentation did not disclose the project's capital expenditure, incremental capacity, commissioning date within Q4 FY27, or expected financial contribution.

The timing of commercial production is significant because the company is reporting a sizeable manufacturing order book alongside its EPC backlog. But the financial impact of the new facility will depend on its ramp-up, product mix and the execution of orders, none of which were quantified in the release.

Why do the results matter for investors and operations?

Lumino Industries' Q2 figures matter because revenue, EBITDA and PAT each grew year-on-year, with EBITDA margin also improving by 40 basis points from Q2 FY26. The reported 30% increase in quarterly revenue and 51% increase in PAT show that profit growth outpaced revenue growth during the period.

The company operates across manufacturing and EPC activities related to the transmission and distribution ecosystem. Its disclosed strategic focus on specialised conductors, cables, substations, distribution infrastructure and HTLS reconductoring places the order book and capacity-expansion programme at the centre of its operating plans.

For investors, the key reported data points are the Rs 2,885 crore backlog, the Q4 FY27 target for Ranihati commercial production and the Rs 56 crore of first-half operating cash flow. The presentation did not provide guidance on FY27 revenue, margins, order inflows, capital expenditure or earnings, so these remain matters for subsequent disclosures.

Conclusion

Lumino Industries delivered higher revenue and operating profit in Q2 and H1 FY27, with Q2 revenue reaching Rs 661 crore and operating EBITDA margin improving to 12.8%. The results were accompanied by an order book of Rs 2,885 crore, split between manufacturing and EPC work, and positive operating cash flow of Rs 56 crore in the first half.

The next disclosed operational milestone is commercial production at the Ranihati expansion project in Q4 FY27. Investors will also watch future updates on order-book execution, the share of specialised conductors and cables, project delivery in the EPC segment, and any quantified outlook for the expanded manufacturing capacity.