Lumax IndustriesNSE:LUMAXIND +1.86%86 Gross Margin % is 33.68% as of Mar. 2026, which is 3% below its 10-year median of 34.75. GuruFocus rates NSE:LUMAXIND with a GF Score™ of 86/100 and a GF Value™ of ₹4,348.26 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,310 Vehicles & Parts companies, Lumax Industries ranks better than 78.4% on this metric.
Lumax Industries Ltd gross margin has been in long-term decline. The average rate of decline per year is -1.8%.
The historical rank and industry rank for Lumax Industries's Gross Margin % or its related term are showing as below:
NSE:LUMAXIND'
s Gross Margin % Range Over the Past 10 Years
Min: 32.04 Med: 34.75 Max: 38.49
Current: 33.75
During the past 13 years, the highestGross Margin % of Lumax Industries was 38.49%. The lowest was 32.04%. And the median was 34.75%.
NSE:LUMAXIND's Gross Margin % is ranked better than 78.4% of 1310
companies
in the Vehicles & Parts industry
Industry Median: 19.835
vs NSE:LUMAXIND: 33.75
Lumax Industries had a gross margin of 33.68% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Lumax Industries was -1.80% per year.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Lumax Industries had a gross margin of 33.68% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Lumax Industries Gross Margin % Related Terms
Lumax Industries Gross Margin % Historical Data
* Premium members only.
The historical data trend for Lumax Industries's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:LUMAXIND vs ORLY, AZO: Gross Margin % Comparison
For the Auto Parts subindustry, Lumax Industries's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lumax Industries Gross Margin % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Lumax Industries's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Lumax Industries's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Lumax Industries (NSE:LUMAXIND) has a Gross Margin % of 33.68% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Lumax Industries and its competitors. This is near median its historical median of 34.75. Over the past decade, Lumax Industries' Gross Margin % has ranged from 32.04 to 38.49. According to the industry distribution chart, Lumax Industries ranks #283 out of 1310 companies in the Vehicles & Parts industry, placing it in the top 21.6%.
Is Lumax Industries' Gross Margin % too high?
Lumax Industries' current Gross Margin % of 33.68% is near median its 10-year median of 34.75. Over the past 10 years, this metric has ranged from a low of 32.04 to a high of 38.49. The Vehicles & Parts industry median Gross Margin % is 19.84. Lumax Industries' value of 33.68% is 69.8% above this industry median. Based on the distribution chart, Lumax Industries ranks #283 out of 1310 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Lumax Industries has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lumax Industries' Gross Margin % compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Lumax Industries ranks #283 out of 1310 companies for Gross Margin %. This places Lumax Industries in the top 22% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 19.84. Lumax Industries' value of 33.68% is 69.8% above this benchmark. Historically, Lumax Industries' own Gross Margin % has ranged from 32.04 to 38.49 over the past decade. While the company's 10-year median is 34.75 vs. the industry median of 19.84, Lumax Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Vehicles & Parts company?
The median Gross Margin % among Vehicles & Parts companies is 19.84, based on 1,310 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lumax Industries's current Gross Margin % of 33.68% is 69.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Lumax Industries and its competitors. For the Vehicles & Parts industry, the median Gross Margin % is 19.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lumax Industries's current Gross Margin % is 33.68%, which is near median its own 10-year median of 34.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lumax Industries stock overvalued right now?
Based on GuruFocus' analysis, Lumax Industries (NSE:LUMAXIND) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹4,348.26, compared to a current price of ₹5,380.50 — trading 23.7% above its estimated fair value. The current Gross Margin % is 33.68%, which is near median its 10-year median of 34.75 and 69.8% above the Vehicles & Parts industry median of 19.84. Lumax Industries' overall GF Score™ is 86/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Lumax Industries (NSE:LUMAXIND), the current Gross Margin % is 33.68% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lumax Industries (NSE:LUMAXIND) Overvalued in 2026?
Based on GuruFocus' analysis, Lumax Industries stock appears to be overvalued.
The current stock price of ₹5,380.50 is trading 23.7% above its estimated GF Value™ of ₹4,348.26.
GuruFocus considers Lumax Industries to be Modestly Overvalued.
Key valuation signals for NSE:LUMAXIND:
Gross Margin %: 33.68% (near median its 10-year median of 34.75)
GF Value™: ₹4,348.26 vs. price of ₹5,380.50 (23.7% above fair value)
Industry Position: 69.8% above the Vehicles & Parts median (#283 of 1310)
No single metric tells the full story. See the NSE:LUMAXIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lumax Industries Ltd is engaged in the business of manufacturing various types of Automotive lighting equipment for four-wheelers and two-wheeler applications in India. The Company's business activity falls within a single business segment, which is the manufacturing and trading of Automotive Components. It provides automotive lighting equipment that includes head lamps, tail lamps, sundry lamps, and auxiliary lamps. Geographically, the company caters its services to the domestic and overseas markets, of which a majority of revenue is derived within India.
86GF Score
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