Focus Lighting & Fixtures Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Manufacturing: 72.6% • Trading: 27.4%
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
- Latest quarter profit grew 82.2% YoY, showing strong momentum
- Company has delivered good sales growth of 28.2% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.85x)
- Working capital cycle has improved - days down from 144 to 108
- Company generates healthy free cash flow
- Company comfortably covers its interest (6.8x coverage)
CONS
- Company has a low return on equity of 9.8% over last 3 years
- Operating margins have contracted to 9.7% from 21.1%
- 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 | 7269.10 | 51.56 | 154038.32 | 0.54 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| CGPOWER | 910.00 | 114.69 | 143365.96 | 0.14 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| SIEMENS | 3960.90 | 43.07 | 141055.77 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| POWERINDIA | 31415.40 | 121.72 | 140025.86 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| GVT&D | 4545.00 | 623.18 | 116373.15 | 0.22 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| ENRIN | 3178.75 | 76.08 | 113201.81 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| WAAREEENER | 2627.50 | 19.80 | 75580.39 | 0.15 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17496.15 | 62.01 | 73260.47 | 0.34 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1114.80 | 42.84 | 69960.57 | 0.90 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 44.16 | 19.31 | 60700.73 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1227.70 | 159.75 | 29354.80 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| FOCUS | 61.84 | 72.15 | 417.08 | 0.00 | 2.87 | 32.90 | 48.86 | 17.89 | 5.52 | 12.68 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 44 | 45 | 30 | 36 | 31 | 44 | 39 | 40 | 41 | 45 | 36 | 58 | 46 | |
| 37 | 37 | 29 | 33 | 27 | 36 | 36 | 36 | 37 | 41 | 34 | 51 | 43 | |
| Operating Profit | 7 | 8 | 2 | 4 | 4 | 8 | 3 | 5 | 4 | 4 | 2 | 7 | 3 |
| OPM % | 15.84% | 17.32% | 5.52% | 9.89% | 14.40% | 17.20% | 6.54% | 11.18% | 9.95% | 9.78% | 5.70% | 11.89% | 6.04% |
| 1 | 1 | 1 | 0 | 0 | 1 | 8 | -0 | 0 | 0 | 1 | -0 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 1 | 1 | 2 | 2 | 1 | 2 | 2 | 3 | 2 | 2 | 3 | 3 | 3 |
| Profit before Tax | 7 | 7 | 1 | 2 | 3 | 6 | 8 | 1 | 2 | 2 | -0 | 4 | 4 |
| Tax % | 32.47% | 23.59% | 60.36% | 69.47% | 25.76% | 27.04% | 22.86% | -5.56% | 23.65% | 26.48% | -210.00% | 26.63% | 26.64% |
| Net Profit | 5 | 6 | 0 | 1 | 2 | 4 | 6 | 2 | 2 | 2 | -1 | 3 | 3 |
| 3.62 | 4.26 | 0.07 | 0.10 | 0.37 | 0.68 | 0.89 | 0.22 | 0.23 | 0.24 | -0.10 | 0.39 | 0.40 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 91 | 110 | 90 | 52 | 102 | 162 | 156 | 154 | 180 | 185 | |
| 73 | 81 | 94 | 80 | 50 | 93 | 129 | 137 | 135 | 163 | 169 | |
| Operating Profit | 6 | 10 | 16 | 10 | 1 | 8 | 33 | 19 | 19 | 17 | 16 |
| OPM % | 7.55% | 11.46% | 14.27% | 10.87% | 2.84% | 7.99% | 20.62% | 12.00% | 12.39% | 9.68% | 8.71% |
| 1 | 0 | 1 | 1 | 0 | 1 | 1 | 6 | 8 | 1 | 2 | |
| Interest | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 |
| Depreciation | 0 | 1 | 2 | 3 | 3 | 3 | 4 | 6 | 8 | 10 | 10 |
| Profit before Tax | 6 | 10 | 13 | 6 | -2 | 5 | 29 | 17 | 19 | 8 | 9 |
| Tax % | 33.37% | 39.84% | 27.42% | 32.53% | 21.99% | 28.44% | 22.55% | 34.57% | 22.64% | 31.98% | 31.65% |
| Net Profit | 4 | 6 | 10 | 4 | -1 | 3 | 22 | 11 | 14 | 5 | 6 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.87 | 17.16 | 1.72 | 2.15 | 0.76 | — |
| Dividend Payout % | 0.00% | 0.00% | 3.47% | 0.00% | 0.00% | 14.50% | 8.73% | 29.15% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 28%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 6%
- 5 Years:
- —
- 3 Years:
- -39%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 40%
- 3 Years:
- -26%
- 1 Year:
- -36%
RETURN ON EQUITY
- 10 Years:
- 20%
- 5 Years:
- 15%
- 3 Years:
- 10%
- Last Year:
- 4%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 25 | 24 | 27 | 78 | 89 | 101 | 108 | |
| 0 | 2 | 3 | 4 | 5 | 6 | 7 | 14 | 18 | 19 | |
| Trade Payables | 11 | 12 | 12 | 16 | 16 | 26 | 17 | 10 | 13 | 24 |
| 3 | 4 | 4 | 5 | 4 | 12 | 10 | 10 | 13 | 20 | |
| Total Liabilities | 26 | 40 | 51 | 61 | 59 | 81 | 125 | 137 | 159 | 184 |
| 2 | 3 | 13 | 13 | 11 | 15 | 20 | 21 | 38 | 38 | |
| Capital Work in Progress | 0 | 4 | 1 | 0 | 1 | 1 | 2 | 19 | 22 | 32 |
| 0 | 0 | 0 | 1 | 1 | 1 | 1 | 6 | 4 | 4 | |
| 6 | 7 | 12 | 14 | 16 | 21 | 35 | 42 | 45 | 50 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34 | 32 | 39 | |
| Cash & Bank | 2 | 3 | 1 | 0 | 1 | 0 | 6 | 1 | 2 | 1 |
| 16 | 22 | 24 | 32 | 30 | 44 | 62 | 13 | 15 | 21 | |
| Total Assets | 26 | 40 | 51 | 61 | 59 | 81 | 125 | 137 | 159 | 184 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 6 | 10 | 5 | 2 | 6 | -6 | 5 | 31 | 21 | |
| Cash from Investing | 0 | -6 | -9 | -3 | -1 | -4 | -9 | -20 | -25 | -19 |
| Cash from Financing | 0 | 5 | 0 | 0 | -0 | -1 | 29 | 9 | -4 | -3 |
| 0 | 1 | -2 | -0 | 0 | -0 | 6 | -6 | 1 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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
2026-09-12 - Focus Lighting and Fixtures Limited has informed the Exchange regarding a revised press release dated September 12, 2026, titled "Focus Lighting Strengthens Commercial Portfolio from Ingka Centres India Private Limited".
2026-09-12 - Focus Lighting and Fixtures Limited has informed the Exchange about receiving of order.
2026-09-12 - Focus Lighting and Fixtures Limited has informed the Exchange regarding a press release dated September 12, 2026, titled "Focus Lighting Strengthens Commercial Portfolio from Ingka Centres Private Limited".
2026-09-12 - Focus Lighting and Fixtures Limited has informed the Exchange about Bagging/Receiving of orders/contracts
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.
News
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