Lumax Auto Technologies has exceeded expectations by reporting an adjusted profit after tax (APAT) of Rs 42.9 crore, surpassing estimates of Rs 35 crore.

The company's order book has increased to Rs 1,050 crore in Q2 FY2025, up from Rs 1,000 crore in the previous quarter, indicating strong demand trends expected for the second half of FY2025.

Sharekhan maintains a BUY rating on Lumax Auto Technologies, with a target price of Rs 682. The positive outlook is based on expectations of an improved product mix, increased content per vehicle, and potential inorganic growth opportunities.

The stock is currently trading at a price-to-earnings (P/E) multiple of 15.8x for FY26E and 13.4x for FY27E, alongside an EV/EBITDA multiple of 7.0x and 6.1x for the same periods.