Lumax Auto Technologies Clean Mobility Strategy Targets FY2031 Growth

Lumax Auto Technologies Ltd is targeting more than 20% of its revenue from clean and future mobility solutions by FY2030-31 as the auto-component maker expands its exposure to electric vehicles, alternate fuels, electronics and software-led products. Around 40% of the company’s ₹1,450-crore order book is already linked to EV and future-mobility platforms, according to its FY26 annual report, giving the business medium-term visibility as the automotive market moves across different propulsion technologies.

Clean and Future Mobility Strategy

The clean and future mobility target covers EVs, CNG platforms, electrification and software-defined systems and represents one of four goals under the company’s mid-term strategy. The other objectives include annual revenue growth of more than 20%, return on capital employed above 20% and a long-term ambition to move towards a 20% EBITDA margin. The company is also maintaining a powertrain-agnostic approach as the Indian market transitions across petrol, CNG, hybrid and electric technologies, allowing it to pursue opportunities across multiple vehicle architectures.

The company’s management said in the annual report, “Because we remain powertrain-agnostic, we can capture growth across both ICE and EV platforms.” This approach positions the business to participate in changing propulsion preferences without relying exclusively on battery-electric vehicles. Its strategy therefore combines conventional internal-combustion applications with newer mobility technologies, including electrification, alternative fuels, vehicle electronics and software-oriented systems. The approach is particularly relevant as Indian vehicle manufacturers continue to develop different powertrain options in response to consumer demand, regulation and evolving technology economics.

Order Book Provides Visibility Through FY29

The ₹1,450-crore order book provides visibility over the next three financial years. The company said during its June earnings call that approximately 25% of the order book is expected to be executed in FY27, followed by 54% in FY28 and the remaining 21% in FY29. Advanced plastics represents the largest portion of the order book, followed by mechatronics, alternate fuels, structures and control systems. The order mix provides a medium-term foundation for the company’s transition towards higher-value automotive technologies and future-mobility applications.

FY27-FY29 Order Book Execution Outlook

Mechatronics Becomes a Key Growth Driver

Mechatronics is becoming an important element of the company’s future-mobility strategy as vehicles incorporate more sensors, connectivity and electronic controls. The business includes sensors, telematics, antennas and electronic modules, with the company citing rising adoption of connected and intelligent vehicle technologies, new product launches and its order book as key growth drivers. Management expects the segment to support both revenue growth and margin expansion over the medium term as automotive electronics become increasingly important across vehicle platforms.

The mechatronics segment recorded revenue of nearly ₹281 crore in FY26, representing year-on-year growth of almost 150%, while its order book stood at around ₹400 crore, according to the June earnings call. The company is also entering body control modules as it develops further capabilities in vehicle electronics. A mega mechatronics plant is being commissioned in Manesar to house multiple technology joint ventures. These developments indicate an effort to expand beyond conventional components into electronic and control-system applications that are increasingly integrated into modern vehicles.

CNG and Hydrogen Expand the Clean-Mobility Opportunity

The clean-mobility strategy is not restricted to battery-electric vehicles. Its Greenfuel Energy business provides fuel-delivery systems for CNG, hydrogen and LNG applications, giving the group exposure to multiple alternative-fuel technologies. The company sees significant headroom in alternate fuels and expects localisation and new products to support incremental growth. Greenfuel generated ₹383 crore of revenue in FY26 and had an order book of ₹180 crore, while management expects the business to be margin-accretive to the group over the medium term.

The company has also localised ferrule-less tubes and fittings for CNG vehicles, which it said were previously imported in India. This localisation effort supports the broader strategy of developing domestic capabilities around alternative-fuel systems while reducing dependence on imported components. The combination of CNG, hydrogen and LNG exposure allows the business to participate in fuel technologies beyond conventional petrol and diesel applications. At the same time, its powertrain-agnostic positioning gives it flexibility to pursue opportunities across internal-combustion, hybrid and electric vehicle platforms as the market evolves.

Alternative Powertrains Gain Share in India

The focus on multiple powertrains comes as Indian passenger-vehicle buyers increasingly move beyond conventional petrol vehicles. According to the Federation of Automobile Dealers Associations, CNG, hybrid and electric passenger vehicles together accounted for about 40.6% of PV retail sales in July 2026, compared with 41.7% for petrol vehicles. The data highlights the growing relevance of alternative propulsion technologies in the Indian market and provides context for the company’s strategy of maintaining exposure across several powertrain and mobility technology segments.

Frequently Asked Questions

What is the company’s clean mobility revenue target?
The company is targeting more than 20% of its revenue from clean and future mobility solutions by FY2030-31, covering electric vehicles, CNG platforms, electrification and software-defined systems. The target forms part of its broader mid-term strategy, which also includes annual revenue growth above 20%, return on capital employed exceeding 20% and a long-term objective of moving towards a 20% EBITDA margin. Its powertrain-agnostic approach is intended to capture opportunities across ICE and EV platforms.

How large is the current order book?
The company has an order book of ₹1,450 crore, with around 40% linked to EV and future-mobility platforms, providing medium-term visibility for its transition. Management expects approximately 25% of the order book to be executed in FY27, 54% in FY28 and the remaining 21% in FY29. Advanced plastics accounts for the largest share, followed by mechatronics, alternate fuels, structures and control systems. The order pipeline supports growth across both established and emerging automotive technology applications.

What alternative-fuel technologies does the business cover?
The business has exposure to CNG, hydrogen and LNG through fuel-delivery systems, alongside localisation initiatives for components used in CNG vehicles. Greenfuel Energy generated ₹383 crore of revenue in FY26 and had an order book of ₹180 crore. Management expects the business to be margin-accretive over the medium term. The company also sees significant headroom in alternate fuels, with localisation and new products expected to provide incremental growth as Indian vehicle manufacturers adopt a broader range of propulsion technologies.