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Lux Industries Q2 FY27 results: net profit up 3.9% to ₹23.95 crore, revenue down 7.7%
Lux Industries Limited reported consolidated Q2 FY27 revenue of ₹718.47 crore, down 7.7% from Q2 FY26, while EBITDA rose 5.1% to ₹46.16 crore and margin expanded 0.8 percentage points to 6.4%. Net profit increased 3.9% to ₹23.95 crore and basic EPS rose to ₹7.94, while standalone revenue was ₹719.78 crore and net profit was ₹23.93 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹718.47 crore, down 7.7% from ₹778.76 crore in Q2 FY26 but up 18.0% from ₹609.03 crore in Q1 FY27.
- EBITDA was ₹46.16 crore in Q2 FY27, up 5.1% year on year, with the margin rising to 6.4% from 5.6%.
- Net profit was ₹23.95 crore, up 3.9% from ₹23.06 crore a year earlier, and basic EPS was ₹7.94 against ₹7.80.
- For H1 FY27, revenue was ₹1,327.50 crore, down 4.0% from H1 FY26, while net profit rose 1.6% to ₹47.05 crore.
- The board approved the unaudited standalone and consolidated results for the quarter and half-year ended 30 September 2026; the same-day filing did not disclose a dividend, fund raise or appointment.
How did Lux Industries perform in Q2 FY27?
Lux Industries reported consolidated Q2 FY27 revenue of ₹718.47 crore, down 7.7% from ₹778.76 crore in Q2 FY26. Against Q1 FY27, revenue rose 18.0% from ₹609.03 crore. Total income was ₹723.68 crore, down 7.7% year on year and up 17.4% from the previous quarter.
Consolidated EBITDA was ₹46.16 crore, up 5.1% from ₹43.90 crore a year earlier, while the margin rose 0.8 percentage points to 6.4%. It increased 8.0% from ₹42.76 crore in Q1 FY27, but the margin fell 0.6 percentage points from 7.0%.
Profit before tax was ₹31.61 crore, up 0.4% from ₹31.47 crore in Q2 FY26 and 4.4% from ₹30.27 crore in Q1 FY27. Net profit was ₹23.95 crore, up 3.9% and 3.7% respectively, while basic EPS was ₹7.94 against ₹7.80 and ₹7.36.
On the standalone basis, revenue was ₹719.78 crore, down 7.6%, and net profit was ₹23.93 crore against ₹23.84 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 718.47 | 609.03 | 778.76 | −7.7% | +18.0% |
| Other income | 5.21 | 7.47 | 5.24 | −0.6% | −30.3% |
| Total expenses | 692.07 | 586.23 | 752.53 | −8.0% | +18.1% |
| EBITDA | 46.16 | 42.76 | 43.90 | +5.1% | +8.0% |
| EBITDA margin | 6.4% | 7.0% | 5.6% | +0.8 pp | −0.6 pp |
| Profit before tax | 31.61 | 30.27 | 31.47 | +0.4% | +4.4% |
| Tax | 7.66 | 7.17 | 8.41 | −8.9% | +6.8% |
| Net profit | 23.95 | 23.10 | 23.06 | +3.9% | +3.7% |
| EPS (₹) | 7.94 | 7.36 | 7.80 | +1.8% | +7.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Lux Industries' costs and profit?
Total expenses fell 8.0% to ₹692.07 crore from ₹752.53 crore in Q2 FY26, slightly faster than the 7.7% decline in total income. Cost of materials rose 4.3% by ₹15.41 crore to ₹370.53 crore, while employee cost rose 10.4% by ₹4.67 crore to ₹49.67 crore. Other expenses fell 13.7% by ₹46.02 crore to ₹289.09 crore. Finance costs rose 11.7% by ₹1.20 crore to ₹11.47 crore, and depreciation rose 12.0% by ₹0.89 crore to ₹8.29 crore. Other income was ₹5.21 crore, down ₹0.03 crore from ₹5.24 crore. There was no exceptional item. Tax expense fell 8.9% by ₹0.75 crore to ₹7.66 crore, while profit before tax rose 0.4% by ₹0.14 crore to ₹31.61 crore and net profit rose 3.9% by ₹0.89 crore to ₹23.95 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 370.53 | 355.12 | +15.41 | +4.3% |
| Employee cost | 49.67 | 45 | +4.67 | +10.4% |
| Finance costs | 11.47 | 10.27 | +1.20 | +11.7% |
| Depreciation | 8.29 | 7.40 | +0.89 | +12.0% |
| Other expenses | 289.09 | 335.11 | −46.02 | −13.7% |
| Total expenses | 692.07 | 752.53 | −60.46 | −8.0% |
| Other income | 5.21 | 5.24 | −0.03 | −0.6% |
| Tax | 7.66 | 8.41 | −0.75 | −8.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹1,327.50 crore, down 4.0% by ₹55.59 crore from ₹1,383.09 crore in H1 FY26. Total income fell 4.1% by ₹57.21 crore to ₹1,340.18 crore.
Profit before tax was ₹61.88 crore, down 0.1% by ₹0.07 crore from ₹61.95 crore. Net profit rose 1.6% by ₹0.74 crore to ₹47.05 crore, while basic EPS declined 2.2% from ₹15.64 to ₹15.30.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,328 | 1,383 | −4.0% |
| Profit before tax | 61.88 | 61.95 | −0.1% |
| Net profit | 47.05 | 46.31 | +1.6% |
| EPS (₹) | 15.30 | 15.64 | −2.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹3,142.53 crore on 30 September 2026 from ₹3,088.86 crore on 31 March 2026. Total equity increased to ₹1,866.36 crore from ₹1,820.76 crore, while borrowings fell to ₹530.40 crore from ₹580.28 crore and cash declined to ₹46.79 crore from ₹91.05 crore. Inventories rose to ₹1,101.88 crore from ₹993.67 crore. Trade receivables fell to ₹1,081.23 crore from ₹1,125.87 crore, while trade payables increased to ₹582.09 crore from ₹540.29 crore. H1 FY27 operating cash flow was ₹53.78 crore, compared with an outflow of ₹228.34 crore in H1 FY26. Investing cash flow was an outflow of ₹19.17 crore against ₹5.85 crore, financing cash flow was an outflow of ₹78.87 crore against an inflow of ₹236.32 crore, and capital expenditure was ₹24.62 crore against ₹34.58 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,143 | 3,089 |
| Total equity | 1,866 | 1,821 |
| Borrowings | 530.40 | 580.28 |
| Cash and equivalents | 46.79 | 91.05 |
| Inventories | 1,102 | 993.67 |
| Trade receivables | 1,081 | 1,126 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 53.78 | −228.34 |
| Cash from investing | −19.17 | −5.85 |
| Cash from financing | −78.87 | 236.32 |
| Capital expenditure | 24.62 | 34.58 |
Source: Company's results filing (XBRL).
How has Lux Industries done over the last 8 quarters?
Revenue reached its highest quarterly level in the reported series at ₹873.01 crore in Q4 FY26 and its lowest at ₹552.63 crore in Q3 FY25. It fell to ₹609.03 crore in Q1 FY27 before rising to ₹718.47 crore in Q2 FY27, so the latest quarter shows a sequential recovery. Net profit peaked at ₹48.00 crore in Q4 FY25 and bottomed at ₹12.51 crore in Q3 FY26. It recovered to ₹23.95 crore in Q2 FY27 from ₹23.10 crore in Q1 FY27, while the EBITDA margin moved from 6.4% to 7.4% in Q4 FY26 and then eased to 7.0% and 6.4% in the following two quarters.
Which businesses drove the quarter?
Vertical A reported revenue of ₹313.47 crore and EBIT of ₹15.05 crore in Q2 FY27. Its EBIT margin was 4.8%. The presentation said consolidated volume fell 25% in Q2, while revenue declined 17%.
Vertical B reported revenue of ₹322.76 crore and EBIT of ₹14.96 crore, with an EBIT margin of 4.6%. Management identified Vertical B as the lead for export expansion.
Vertical C reported revenue of ₹82.24 crore and EBIT of ₹3.09 crore, with an EBIT margin of 3.8%. The filing did not provide year-ago segment revenue, EBIT or growth figures for any of the three verticals.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Vertical A | 313.47 | 15.05 | 4.8% | |
| Vertical B | 322.76 | 14.96 | 4.6% | |
| Vertical C | 82.24 | 3.09 | 3.8% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half-year ended 30 September 2026 on 3 November 2026. The Audit Committee reviewed the results before the board meeting, and the statutory auditor issued a limited review report. The company filed its Q2 and H1 FY27 investor presentation on the same day. The same-day board and presentation filings did not disclose a dividend, a fund raise, a new appointment or an acquisition.
What did Lux Industries' management say?
Management said the company was pursuing an omnichannel strategy across dealers, e-commerce, quick commerce and exclusive brand outlets. It also said it was scaling Lux Nitro, Lux Parker, newer thermal and women’s categories, while prioritising brand investment for long-term growth rather than immediate margin maximisation. Management set a target of ₹200 Cr from online sales in the next 3 years and targeted country presence by 2030. It said production would be augmented in the near term through internal accrual, new facilities were being set up for further growth plans, and ONN exclusive brand outlets were being expanded at airports, with outlets live at Chennai, Srinagar and Patna. Management said global demand remained uneven amid competitive pricing pressure, while yarn prices stayed high and freight volatility persisted. It reported that advertisement spending was about 7% and said Vertical A consolidated volume fell 25% in Q2 and 10% in H1. The presentation did not provide a separate transcript of questions and answers from analysts.
How did Lux Industries shares react?
Lux Industries opened lower after the filing, falling 0.9% after 5 minutes, 0.4% after 15 minutes and 0.8% after 30 minutes. The stock closed the reaction day unchanged at 0.0%. By the next day’s close, it was up 1.0% from its pre-results close, while the Garments & Apparels industry median rose 2.2%, leaving the stock at a 1.2 percentage-point deficit to the industry. Earlier reaction-day moves were mixed: the stock rose 2.3% on 14 August 2026 and fell 2.0% on 21 May 2026. It had also fallen on each of the five preceding result dates from 14 February 2025 to 14 February 2026.
| After the filing | Stock | Garments & Apparels median |
|---|---|---|
| 5 minutes | −0.9% | |
| 15 minutes | −0.4% | |
| 30 minutes | −0.8% | |
| Reaction day | −0.0% | +0.6% |
| Next day | +1.0% | +2.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 14 August 2026 | +2.3% |
| 21 May 2026 | −2.0% |
| 14 February 2026 | −2.3% |
| 8 November 2025 | −3.5% |
| 12 August 2025 | −3.4% |
| 23 May 2025 | −3.1% |
| 13 February 2025 | −1.4% |
| 12 November 2024 | −0.9% |
Source: MarketPing price-reaction measurement.
How did other Garments & Apparels companies do?
Ten other Garments & Apparels companies had filed for the quarter by 5 November 2026, and their median revenue growth was 31.7%. All 10 grew faster than Lux Industries, while none grew slower than the company. Six of the eight peers for which profit was compared reported higher profit.
| Lux Industries revenue growth (YoY) | −7.7% |
|---|---|
| Median of 10 other Garments & Apparels companies | +31.7% |
| Companies with slower revenue growth than Lux Industries | 0 of 10 |
| Companies with faster revenue growth than Lux Industries | 10 of 10 |
| Companies whose net profit rose | 6 of 8 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Lux Industries' revenue in Q2 FY27?
Revenue from operations was ₹718.47 crore, down 7.7% from ₹778.76 crore in Q2 FY26 (consolidated).
Did Lux Industries make a profit in Q2 FY27?
Yes. Net profit was ₹23.95 crore, against a net profit of ₹23.06 crore in Q2 FY26.
What was Lux Industries' EPS in Q2 FY27?
Basic earnings per share were ₹7.94, against ₹7.80 in Q2 FY26.
How did Lux Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.0% from the previous close; the median Garments & Apparels stock moved +0.6%.
When did Lux Industries announce its Q2 FY27 results?
On 3 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Meeting Of Board Of Directors (BSE, 12 October 2026) · PDF
- Outcome of Board Meeting (NSE, 3 November 2026) · PDF
- The investor presentation (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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