The company manufactures conductors, power cables and electrical wires while also executing EPC projects across transmission, distribution, substations, railways, solar and infrastructure.
A Growing Industry Opportunity
India’s wires and cables market is projected to grow at 13–14% CAGR through FY31, driven by grid expansion, renewable energy, railway electrification, EVs and infrastructure investment.
Strong Order Book Visibility
As of March 31, 2026, Lumino had a ₹3,149.88 crore order book, including ₹1,991.98 crore in EPC orders and ₹1,157.90 crore in manufacturing orders.
Scale, Capacity & Business Mix
With 40,000 MT manufacturing capacity in Howrah, Lumino generates nearly 70% of its FY26 revenue from manufacturing, supported by its diversified EPC business.
Key Growth Plans
Lumino plans to expand capacity through a new Ranihati facility, broaden its cable and conductor portfolio, and use IPO proceeds for debt repayment and capital expenditure.
Risks Investors Should Watch
Key risks include raw material price volatility, government and customer concentration, high working-capital needs, geographic concentration and uncertainty in winning EPC contracts.
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