Manufactures and sells innerwear, hosiery and thermal wear in India across multiple brands organised under three operating verticals. Vertical A, which houses the Lux Cozi brand, generated ₹1,365.22 crore in FY26 segment revenue, equal to 46.6% of the segment total. Vertical B, which includes brands such as ONN, Lux Champion and Lyra and now holds an exclusive Reebok licence for men's and women's innerwear and thermal wear in India, contributed ₹1,235.65 crore (42.2%). Vertical C added ₹327.87 crore (11.2%). A roughly ₹600 crore expansion at Dankuni, West Bengal grows that site from 8 lakh to 20 lakh sq ft and lifts nationwide capacity from about 20 crore to about 36 crore pieces a year. Materials account for 49% of revenue and other operating expenses for 41.8%, and FY26 EBITDA margin stood at 7.0%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Vertical A (Lux Cozi) (47%), Vertical B (ONN, Lux Champion, Lyra, Reebok) (42%), Vertical C (11%). Multi-brand, multi-vertical innerwear and hosiery manufacturer.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,296 | 2,379 | 2,324 | 2,583 | 2,929 |
| EBITDA (ex other income) | 473 | 214 | 193 | 236 | 173 |
| margin % | 20.6 | 9.0 | 8.3 | 9.1 | 5.9 |
| Owners' profit | 340 | 142 | 130 | 165 | 104 |
| EPS, as reported (₹) | 112.95 | 47.23 | 43.07 | 54.97 | 34.52 |
| ROE % · ROCE % | 25.9 · 35.0 | 9.5 · 14.2 | 8.1 · 12.1 | 9.6 · 13.7 | 5.8 · 9.4 |
| Debt / equity (x) | 0.25 | 0.17 | 0.12 | 0.17 | 0.32 |
| Cash from operations | (228) | 181 | 240 | (81) | (149) |
| Capex | (74) | (84) | (32) | (37) | (55) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 677 | 553 | 818 | 604 | 779 | 673 | 873 | 609 |
| Profit before tax | 68 | 43 | 66 | 30 | 31 | 19 | 57 | 30 |
| Net profit | 52 | 32 | 48 | 23 | 23 | 13 | 47 | 23 |
| EPS (₹) | 17.02 | 10.66 | 15.99 | 7.84 | 7.80 | 4.29 | 14.59 | 7.36 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Vertical - A | 1,365 | 46.6 |
| Vertical - B | 1,236 | 42.2 |
| Vertical - C | 328 | 11.2 |
| Total, before eliminations | 2,929 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 39,474 | 52.2 | 26.27 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · Lux Industries informs about AGM newspaper publication notice | compliance | minimal | — | — |
| 3 Sept 2026 · Lux Industries shares web link of FY2025-26 Annual Report with shareholders | compliance | minimal | — | — |
| 2 Sept 2026 · Lux Industries submits BRSR for FY 2025-26 highlighting ESG initiatives | compliance | low | — | — |
| 2 Sept 2026 · Lux Industries 31st AGM notice and Annual Report FY26 filed | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Annual Report FY26: record revenue but PAT falls 36% on brand investments | results | high | — | — |
| 31 Aug 2026 · Board approves demerger of two business verticals into new listed subsidiaries | strategic transactions | high | — | — |
| 24 Aug 2026 · Lux Industries TDS communication on final dividend FY26 | corporate actions | low | — | — |
| 21 Aug 2026 · Lux Industries sets September 25, 2026 virtual AGM date | compliance | minimal | — | — |
| 21 Aug 2026 · Lux Industries defends Dankuni capex project against political allegations | investor communications | low | — | — |
| 18 Aug 2026 · Final Dividend Record Date Fixed at September 18, 2026 | corporate actions | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 15,120 |
| 36.5 |
| 3.65 |
| 15.8 |
| 10.3 |
| 11.9 |
| 12.9 |
| 9.4 |
| GOKALDAS EXPORTS LTD. | 5,773 | 56.0 | 2.67 | 15.3 | 4.6 | 6.0 | 26.9 | 12.1 |
| PEARL GLOBAL IND LIMITED | 5,506 | 17.7 | 3.83 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| LUX INDUSTRIES LIMITED ◆ | 3,443 | 32.3 | 1.89 | 19.2 | 5.8 | 7.3 | 8.4 | 8.2 |
| KEWAL KIRAN CLOTHING LTD | 3,051 | 20.6 | 2.73 | 11.2 | 13.6 | 16.6 | 32.0 | 24.0 |
| S. P. APPARELS LIMITED | 2,582 | 24.5 | 2.75 | 12.4 | 10.7 | 14.2 | 19.3 | 15.9 |
| KITEX GARMENTS LTD | 2,473 | — | 2.00 | 36.2 | (1.1) | 0.3 | 7.9 | 11.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 32.3 | 17.7 | 28 of 39 | 29% |
| P/B | 1.9 | 1.6 | 20 of 35 | 44% |
| ROCE | 7.3 | 8.4 | 24 of 44 | 47% |
| ROE | 5.8 | 5.8 | 19 of 37 | 50% |
| Debt / Equity | 0.3 | 0.3 | 21 of 37 | 44% |
| EBITDA margin | 8.3 | 10.4 | 21 of 35 | 41% |
| Revenue growth | 0.8 | 7.9 | 24 of 37 | 36% |
| Profit growth | (0.7) | 6.8 | 24 of 37 | 36% |
| Market cap | 3443 | 158 | 5 of 44 | 91% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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