Lumax To Target 20% Revenue From Clean, Future Mobility by FY31

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 increases 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, providing medium-term visibility for the transition, according to Lumax Auto Technologies' FY26 annual report.

The clean and future mobility target covers areas including EVs, CNG platforms, electrification and software-defined systems. It forms one of the four goals under the company's mid-term strategy, alongside revenue growth of over 20% annually, return on capital employed of more than 20% and a long-term ambition to move towards a 20% EBITDA margin.

The company is seeking to remain agnostic to the type of powertrain used in a vehicle as the Indian market transitions across petrol, CNG, hybrid and electric technologies. “Because we remain powertrain-agnostic, we can capture growth across both ICE and EV platforms,” the company's management said in the annual report.

Order Book Gives Visibility Through FY29

The ₹1,450-crore order book provides visibility over the next three financial years. Lumax had said in its June earnings call that about 25% is expected 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 and structures and control systems, according to the company.

Mechatronics Emerges as Growth Driver

Mechatronics is becoming an important part of Lumax's future-mobility strategy as vehicles add more sensors, connectivity and electronic controls.

The business includes sensors, telematics, antennas and electronic modules. Lumax said increasing adoption of connected and intelligent vehicle technologies, new product launches and its order book are driving growth in the segment. It expects the business to contribute to both revenue growth and margin expansion over the medium term.

The segment's revenue jumped nearly 150% year on year to ₹281 crore in FY26, with an order book of around ₹400 crore, according to Lumax's June earnings call. 

The company is also entering body control modules (BCMs) as it builds capabilities in vehicle electronics. It is commissioning a mega mechatronics plant in Manesar to house multiple technology joint ventures.

CNG, Hydrogen Also Part of Clean-Mobility Bet

Lumax is not limiting its clean-mobility strategy to battery-electric vehicles. Its Greenfuel Energy business provides fuel-delivery systems for CNG, hydrogen and LNG applications. The company said it 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.. Management said the business is expected to be margin-accretive to the group over the medium term.

Lumax has also localised ferrule-less tubes and fittings for CNG vehicles, which the company said were previously imported in India.

CNG and Hybrid Vehicles Gain Ground in India: FADA Data

The focus on multiple powertrains comes as Indian car buyers increasingly move beyond conventional petrol vehicles. According to the Federation of Automobile Dealers Associations (FADA), 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.