Focus Lighting & Fixtures Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Manufacturing: 50.5% • Trading: 49.5%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good sales growth of 25.6% CAGR over last 5 years
- Latest quarter profit grew 32.9% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.09x)
- Company generates healthy free cash flow
- Company comfortably covers its interest (6.6x coverage)
CONS
- A large part of profit comes from other income (39.2% of PBT)
- Recent results are weak - TTM profit is down 14.3% versus prior year
- Valuation is stretched - P/E of 72.3 is well above its own 5-year median (34.1)
- Operating margins have contracted to 8.5% from 20.7%
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7330.00 | 51.99 | 155328.84 | 0.54 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| CGPOWER | 908.00 | 114.44 | 143050.87 | 0.14 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| SIEMENS | 3972.00 | 43.19 | 141451.06 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| POWERINDIA | 31065.00 | 120.36 | 138464.05 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| GVT&D | 4500.00 | 617.01 | 115220.94 | 0.22 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| ENRIN | 3180.50 | 76.12 | 113264.13 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| WAAREEENER | 2545.00 | 19.18 | 73207.26 | 0.16 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17293.00 | 61.29 | 72409.83 | 0.35 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1116.00 | 42.88 | 70035.88 | 0.90 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 44.44 | 19.43 | 61085.61 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1195.30 | 155.53 | 28580.11 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| FOCUS | 61.97 | 72.30 | 417.96 | 0.00 | 2.87 | 32.90 | 48.86 | 17.89 | 5.52 | 12.68 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 51 | 56 | 57 | 60 | 55 | 45 | 42 | 42 | 41 | 49 | 38 | 60 | 49 | |
| 40 | 45 | 46 | 46 | 43 | 37 | 39 | 38 | 37 | 44 | 36 | 54 | 46 | |
| Operating Profit | 11 | 11 | 11 | 13 | 12 | 8 | 3 | 4 | 4 | 4 | 1 | 6 | 3 |
| OPM % | 21.72% | 20.33% | 18.86% | 22.12% | 21.33% | 17.65% | 6.24% | 9.28% | 10.35% | 8.80% | 3.21% | 10.22% | 5.71% |
| 2 | 2 | 2 | 1 | 0 | 1 | 2 | 0 | 1 | 1 | 1 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 1 | 2 | 2 | 2 | 1 | 2 | 2 | 3 | 2 | 2 | 3 | 3 | 3 |
| Profit before Tax | 11 | 11 | 10 | 12 | 11 | 7 | 2 | 1 | 3 | 2 | -1 | 4 | 4 |
| Tax % | 20.11% | 15.21% | 6.47% | 11.24% | 13.78% | 25.91% | 101.12% | -14.02% | 18.25% | 25.65% | -42.86% | 28.18% | 26.39% |
| Net Profit | 0 | 0 | 0 | 0 | 9 | 5 | -0 | 1 | 2 | 2 | -1 | 3 | 3 |
| 7.02 | 7.34 | 1.48 | 1.64 | 1.38 | 0.74 | 0.00 | 0.17 | 0.33 | 0.26 | -0.22 | 0.40 | 0.42 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 92 | 121 | 99 | 60 | 105 | 169 | 224 | 183 | 188 | 195 | |
| 73 | 82 | 105 | 92 | 59 | 96 | 135 | 179 | 157 | 172 | 181 | |
| Operating Profit | 6 | 11 | 16 | 8 | 1 | 9 | 33 | 45 | 26 | 16 | 14 |
| OPM % | 7.55% | 11.43% | 12.92% | 7.78% | 0.95% | 8.52% | 19.85% | 20.15% | 14.28% | 8.48% | 7.38% |
| 1 | 0 | 1 | 1 | 1 | 1 | 1 | 8 | 3 | 3 | 3 | |
| Interest | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Depreciation | 0 | 1 | 2 | 4 | 3 | 3 | 5 | 7 | 8 | 10 | 10 |
| Profit before Tax | 6 | 10 | 13 | 4 | -2 | 6 | 29 | 45 | 20 | 8 | 9 |
| Tax % | 33.37% | 39.49% | 27.37% | 47.14% | 15.14% | 23.36% | 22.35% | 13.37% | 24.06% | 33.09% | 34.61% |
| Net Profit | 4 | 6 | 10 | 2 | -2 | 5 | 23 | 39 | 15 | 5 | 6 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.93 | 17.76 | 5.95 | 2.28 | 0.77 | — |
| Dividend Payout % | 0.00% | 0.00% | 3.46% | 0.00% | 0.00% | 12.36% | 8.29% | 8.41% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 26%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -40%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 40%
- 3 Years:
- -26%
- 1 Year:
- -36%
RETURN ON EQUITY
- 10 Years:
- 21%
- 5 Years:
- 20%
- 3 Years:
- 17%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 3 | 3 | 10 | 10 | 10 | 13 | 13 | 13 | 13 |
| 9 | 18 | 28 | 23 | 21 | 25 | 77 | 115 | 126 | 133 | |
| 0 | 2 | 3 | 4 | 5 | 6 | 8 | 15 | 19 | 19 | |
| Trade Payables | 11 | 12 | 13 | 17 | 17 | 26 | 17 | 32 | 25 | 27 |
| 3 | 5 | 4 | 6 | 4 | 10 | 10 | 14 | 17 | 19 | |
| Total Liabilities | 26 | 40 | 51 | 60 | 56 | 78 | 125 | 189 | 200 | 212 |
| 2 | 3 | 13 | 13 | 11 | 15 | 21 | 21 | 38 | 38 | |
| Capital Work in Progress | 0 | 4 | 1 | 0 | 1 | 1 | 2 | 19 | 22 | 32 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 3 | 4 | |
| 6 | 8 | 13 | 16 | 18 | 24 | 39 | 44 | 48 | 53 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 86 | 69 | 58 | |
| Cash & Bank | 2 | 3 | 1 | 1 | 2 | 1 | 7 | 3 | 6 | 10 |
| 16 | 22 | 23 | 31 | 25 | 38 | 57 | 11 | 13 | 18 | |
| Total Assets | 26 | 40 | 51 | 60 | 56 | 78 | 125 | 189 | 200 | 212 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 6 | 10 | 5 | 3 | 8 | -7 | 6 | 32 | 26 | |
| Cash from Investing | 0 | -6 | -9 | -3 | -1 | -3 | -10 | -20 | -25 | -20 |
| Cash from Financing | 0 | 5 | 0 | 0 | -0 | -3 | 31 | 9 | -4 | -2 |
| 0 | 2 | -2 | -0 | 1 | -1 | 7 | -5 | 3 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Focus Lighting and Fixtures Limited has informed the Exchange regarding a press release dated September 09, 2026, titled "Focus Lighting Strengthens Infrastructure Portfolio from Larsen & Toubro, Construction Division".
2026-09-09 - Focus Lighting and Fixtures Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-08-22 - Focus Lighting and Fixtures Limited has informed the Exchange about Copy of Newspaper Publication pertaining to the Notice of 21st Annual General Meeting and e-voting instructions for the Financial Year 2025-26.
2026-08-21 - Focus Lighting and Fixtures Limited has informed the Exchange regarding dispatch of physical letters to the shareholders of the Company, whose email addresses are not registered for circulating the web-link of the Annual report for the financial year 2025-26.
2026-08-21 - Focus Lighting and Fixtures Limited has informed the Exchange that Record date for the purpose of Annual General Meeting is September 04, 2026.
2026-08-21 - Focus Lighting and Fixtures Limited has informed the Exchange regarding Notice of 21st Annual General Meeting to be held on Wednesday, September 16, 2026.
2026-08-17 - Focus Lighting and Fixtures Limited has informed the Exchange regarding a press release dated August 17, 2026, titled "Focus Lighting And Fixtures Limited successfully completes Landmark Lighting Project at Kankaria Lake, Ahmedabad".
2026-08-12 - Focus Lighting and Fixtures Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - Focus Lighting and Fixtures Limited has informed the Exchange about Acquisition
News
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