LAPL AutomotiveShare price, financial results, shareholding and management
- Market cap
- ₹140 cr
- Stock P/E
- 16.2peers 21.3
- Book value
- ₹20.1
- Price to book
- 5.55
- EV / operating profit
- -
- Market cap to sales
- 1.50
- ROCE · FY26
- 34.2%
- ROE · FY26
- 41.2%
- ROE, 3-year average
- 32.8%
- Operating margin · FY26
- 16.0%peers 16.5%
- Sales growth, 3 years
- 15.8%
- Profit growth, 3 years
- 92.5%
- Debt to equity
- 0.83peers 0.36
- Borrowings
- ₹21 cr
- Interest cover
- 7.6×
- Cash from business / op. profit
- 13%
- Debtor days
- 76
- Pledged
- 0.00%
- Promoter holding
- 70.18%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 788
- 52-week high / low
- ₹139 / ₹98
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
LAPL Automotive share price chart
Close on 6 Nov 2026 · -2.28% on the day · Vol 12,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -1.8%
- Traded a day, 20 days
- ₹0.53 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +41% | +72% |
| 3 years, a year | +16% | +93% |
About LAPL Automotive: business, products and customers
LAPL Automotive makes vehicle lamps, starter and wiper motors, mirrors and small plastic parts at three plants in Chhatrapati Sambhajinagar, Maharashtra, mostly for one large customer and partly under its own LAPL brand. Its shares trade on BSE SME.
LAPL Automotive began in 2004 when Neeraj Satyaprakash Goyal bought an automotive lighting plant at Waluj from Lumax Auto. It now runs three units in Chhatrapati Sambhajinagar (Aurangabad): lamps at Waluj, starter motors, wiper motors, rotors and small BLDC fans at Auric City, Shendra, and mirror assembly and storage at the original Waluj site. Products go to makers of cars, commercial vehicles, two-wheelers and electric vehicles, with IATF 16949 certified processes and some parts approved by ARAI, ICAT, CIRT and VRDE.
Most of the business is design-and-build work for customers who market the parts under their own name or fit them into vehicles; the rest is sold under the LAPL brand in the spare parts market. Because it builds to customers' schedules, sales follow their vehicle output, and one customer, which the offer document does not name, took about three quarters of revenue in each of the last three years. Nearly all sales are within India and mostly in Maharashtra.
Read more about the business
The plants are close to full, so the IPO money is mainly for a fourth plant at Auric City, Shendra, for lamps, electrical and electronic parts and for moulded parts that the company now buys, partly from a firm owned by promoter Anita Neeraj Goyal. Receivables and stock have grown faster than sales, so cash from operations has trailed profit.
The offer document compares LAPL with two listed makers of vehicle parts, Fiem Industries, a maker of automotive lighting, and Minda Corporation; both are many times larger.
From the red herring prospectus of July 2026, the FY26 annual report, the September 2026 investor presentation and the company's BSE announcements.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 34% in FY26.
- The promoters own a large part of the company: 70.18%.
To watch
- The fourth plant, begun on 19 August 2026, with ₹9.8 cr of IPO money planned for each of FY27 and FY28, and the first listed results, for the half to September 2026 (Offer document, p.80; Investor presentation, September 2026, p.12; BSE announcement, 27 September 2026).
- Whether the three new vendor codes received in August 2026 bring orders that reduce the 77.18% share of the largest customer (Investor presentation, September 2026, p.12; Offer document, p.24).
- Auditor change: Mohini Malpani & Associates resigned on 16 February 2026 citing pre-occupation in other assignments, and C.N.A. & Associates was appointed on 20 February 2026 to fill the vacancy and proposed for four years at the 2026 AGM (Offer document, p.57; Annual report FY26, p.25 to p.26).
- Compounding applications filed on 16 May 2026 for contraventions of Section 62 in past share allotments, under processing (Offer document, p.25 to p.26).
- Customers take longer to pay than before: 76 days in FY26, against 58 in FY21.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
LAPL Automotive revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
LAPL Automotive profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 33.07 | 60.07 | 60.72 | 65.98 | 93.20 |
| Expenses | 30.71 | 57.46 | 55.57 | 57.13 | 78.29 |
| Operating profit | 2.36 | 2.61 | 5.15 | 8.85 | 14.91 |
| OPM | 7.1% | 4.3% | 8.5% | 13.4% | 16.0% |
| Other income | 0.01 | 0.64 | 0.30 | 1.10 | 1.06 |
| Interest | 0.37 | 0.53 | 0.95 | 1.35 | 1.76 |
| Depreciation | 0.99 | 1.26 | 1.38 | 1.73 | 2.53 |
| Profit before tax | 1.01 | 1.46 | 3.12 | 6.87 | 11.68 |
| Tax rate | 24.8% | 17.1% | 30.4% | 26.8% | 26.1% |
| Net profit | 0.76 | 1.21 | 2.17 | 5.03 | 8.63 |
| EPS ₹ | 1.38 | 1.38 | 2.47 | 5.72 | 9.81 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
LAPL Automotive profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 7.1% | 4.3% | 8.5% | 13.4% | 16.0% |
| Tax rate | 24.8% | 17.1% | 30.4% | 26.8% | 26.1% |
| ROCE | · | 15.6% | 19.7% | 28.7% | 34.2% |
| ROE | · | 18.0% | 21.7% | 35.6% | 41.2% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
LAPL Automotive debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
LAPL Automotive balance sheet
At each 31 March · ₹ crore
| FY21 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 2 | 3.20 | 3.20 | 8.80 | 8.80 |
| Reserves | 2.99 | 5.25 | 8.39 | 7.83 | 16.45 |
| Net worth | 4.99 | 8.45 | 11.59 | 16.63 | 25.25 |
| Borrowings | 4.15 | 7.97 | 13.37 | 15.79 | 20.99 |
| Other liabilities | 8.50 | 8.27 | 7.83 | 11.92 | 16.44 |
| Total liabilities | 17.64 | 24.69 | 32.79 | 44.34 | 62.68 |
| Fixed assets | 4.98 | 7.24 | 9.95 | 20.63 | 22.99 |
| Capital work in progress | 0 | 2.14 | 6.45 | 0.57 | 0.92 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 12.66 | 15.31 | 16.39 | 23.14 | 38.77 |
LAPL Automotive cash flow
₹ crore
| FY21 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 0.74 | 3.64 | 3.50 | 2.64 | 1.95 |
| Cash from investing | 0.06 | -4.94 | -8.41 | -6.46 | -5.79 |
| Cash from financing | -0.73 | 3.38 | 4.98 | 1.44 | 3.94 |
| Net cash flow | 0.07 | 2.08 | 0.07 | -2.38 | 0.10 |
Working capital
Days
| FY21 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 58 | 26 | 42 | 61 | 76 |
| Inventory days | 96 | 60 | 52 | 88 | 94 |
| Days payable | 116 | 57 | 49 | 68 | 75 |
| Cash conversion cycle | 38 | 29 | 44 | 81 | 95 |
| Working capital days | 12 | 7 | -11 | 3 | 15 |
LAPL Automotive peers and competitors
Listed SME companies in the same industryBy sales, LAPL Automotive is number 19 of the 26 listed SME companies in auto components.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Thaai Casting | 312 | 23.7 | 146 | 13.2 | 24.5% | 1.15 |
| Kheria Autocomp | - | - | 120 | 11 | 19.0% | 0.90 |
| Emmforce Autotech | 375 | 46.9 | 113 | 8 | 20.0% | 0.48 |
| Viaz Tyres | 147 | 27.8 | 108 | 5.3 | 8.8% | 0.35 |
| AVATAR Industries | 206 | 551.3 | 103 | 0.4 | -0.2% | 0.00 |
| Happy Steels | 107 | 15.0 | 94.6 | 7.1 | 14.2% | 1.18 |
| LAPL Automotive | 140 | 16.2 | 93.2 | 8.6 | 16.0% | 0.83 |
| Innovative Tyres & Tubes | 61 | - | 85.4 | -1.9 | 3.8% | - |
| Premium Plast | 89 | 12.9 | 75.4 | 6.9 | 18.8% | 0.10 |
| Gallard Steel | 163 | 18.0 | 68 | 9.1 | 22.4% | 0.36 |
| Ultra Wiring Connectivity System | 62 | 18.8 | 64.6 | 3.3 | 9.7% | 0.11 |
| Median of the 10 others | 147 | 21.3 | 98.8 | 7 | 16.5% | 0.36 |
LAPL Automotive shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
LAPL Automotive shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Aug 26 | Sep 26 | |
|---|---|---|
| Promoters | 70.18% | 70.18% |
| Foreign investors (FIIs) | 5.26% | - |
| Indian institutions (DIIs) | 9.12% | - |
| Number of shareholders | 772 | 788 |
LAPL Automotive study: the business from its own documents
Read from 4 of the company's own documentsLAPL Automotive key facts from the filings
Each figure with the document it comes from
- Sales in FY26
- ₹93.3 cr
- Up 41% from ₹66.0 cr in FY25, after a year of slow growth.Annual report FY26, p.20; Investor presentation, September 2026, p.22
- Largest customer
- 77.18%
- Share of FY26 revenue from one unnamed customer; the top ten customers gave 95.49%.Offer document, p.24 and p.149 to p.150
- EBITDA margin
- 16.75%
- In FY26, up from 8.81% in FY24 and 14.81% in FY25.Offer document, p.130; Investor presentation, September 2026, p.17
- Motor division
- ₹55.1 cr
- FY26 sales, 59% of revenue; lamps added ₹31.7 cr and mirrors, hoods and accessories the rest.Offer document, p.130
- Plant use
- 81.24%
- Average in FY26; the lighting and motor lines ran above 90% and mirrors near 62%.Investor presentation, September 2026, p.5 and p.11
Show 5 more facts
- Own brand
- 22.06%
- Share of FY26 revenue sold under the LAPL name; the rest is made to customers' designs.Offer document, p.129
- Sales in Maharashtra
- 86.20%
- Of FY26 revenue; the company recorded no exports in FY26.Offer document, p.131; Annual report FY26, p.22
- New plant
- ₹19.6 cr
- IPO money for a fourth plant at Auric City, Shendra, half to be spent in FY27 and half in FY28; construction began on 19 August 2026.Offer document, p.80; Investor presentation, September 2026, p.12
- Days to get paid
- 76 days
- At March 2026, up from 42 two years earlier; cash from operations was ₹2.0 cr in FY26.Offer document, p.36 and p.257
- Buying from promoter firms
- ₹8.9 cr
- Purchases from promoter group firms in FY26, 12.71% of all purchases.Offer document, p.30 and p.51
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company gives no revenue or profit guidance. The offer document plans to spend ₹19.6 cr of IPO money on a fourth plant, half in FY27 and half in FY28, and to repay ₹4.8 cr of bank loans in FY27; the company says construction began on 19 August 2026 and that it received three new vendor codes from automotive companies in August 2026.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
LAPL designs and builds lamps, motors and mirrors for vehicle makers and earns good margins from plants that are nearly full.
Its weak spots are that one customer buys most of what it makes and that customers are taking longer to pay.
AverageCan it set its own prices?Margins have widened a lot, but most output goes to one big buyer that can press on price or make the parts itself.
AverageHow strong is it against rivals?Two decades as an approved supplier with its own design, tooling and testing, but in a crowded industry and far smaller than listed peers.
WatchWho are its customers?One unnamed customer takes about three quarters of sales, and almost all sales are in one state.
WatchDoes it need a lot of money?The plants are modest, but stock and money owed by customers eat up cash, so profit has not turned into much cash.
AverageCan it keep finding new work?Demand already fills the plants and new vendor codes and products are coming, but there is no order book and growth waits on the new plant.
AverageDo good and bad years swing a lot?Sales rose every year, but growth jumped from almost nothing to a big rise, tied to the main customer's output.
Who runs LAPL Automotive?
Promoters, directors and officers; tap a name for the background
NSNeeraj Satyaprakash GoyalPromoter, Chairman and Managing Director · holds 44.28%
B.Com from Delhi University; 37 years in automotive and electrical work, including project manager and plant head at Brytax Auto Industries from 1988 to 2004; founded the company in 2004 and a director since then; also a director of Riansh Corporate and Saideep Plastics, which deal with the company. Paid ₹1.36 cr in FY26 and had lent the company ₹0.58 cr. The offer document says the original degree certificate cannot be traced, that some vehicles and their loans registered in Neeraj Satyaprakash Goyal's name were carried in the company's books, and lists a motor accident claim naming Neeraj Satyaprakash Goyal as the registered owner of a vehicle.
Offer document, p.28, p.33, p.170, p.172 and p.262; Annual report FY26, p.32ANAnita Neeraj GoyalPromoter and Non-Executive Director · holds 13.91%
Matriculation from Government Girls Secondary School No. 5, New Delhi; 22 years in automotive moulding and plastics; with the company since 2011. Sole proprietor of Annu Industries, which supplies moulded parts to the company under an exclusive supply agreement of April 2025, and of Accurate Logistics Services. The offer document states Anita Neeraj Goyal is the spouse of Neeraj Satyaprakash Goyal and the mother of Shubham Neeraj Goyal. Paid ₹0.38 cr in FY26.
Offer document, p.26, p.27, p.172 and p.173; Annual report FY26, p.19 and p.32SNShubham Neeraj GoyalPromoter and Executive Director · holds 4.46%
BBA in logistics and supply chain management from Symbiosis Skills and Professional University; with the company since 2023, handling strategy, resources and customer relationships; a director of Riansh Corporate. Paid ₹0.38 cr in FY26.
Offer document, p.170 and p.172; Investor presentation, September 2026, p.25; Annual report FY26, p.32SUSunil Udhavrao DharasurkarChief Financial Officer · holds 0.01%
B.Com from Dr. Babasaheb Ambedkar Marathwada University; over 30 years in finance and accounts, including accountant at Brytax Auto Industries from 1998 to 2004; with the company since 2004 and Chief Financial Officer since January 2025.
Offer document, p.180 to p.181GSGokul Shrinivas LohiyaIndependent Director
Chartered accountant in practice since 2004 and sole proprietor of G.S. Lohiya & Associates, with work in corporate, bank, tax and GST audits. On the board since December 2024; chairs the audit committee and the nomination and remuneration committee.
Offer document, p.171 to p.172; Annual report FY26, p.24 to p.25PSPrasad Satish TakalkarIndependent Director
Company secretary in practice since 2011 with degrees in commerce and law; founding partner of KMP & Associates. On the board since December 2024; chairs the stakeholder relationship committee.
Offer document, p.171 to p.172; Annual report FY26, p.25SKSaurabh Krishna PathakIndependent Director
Company secretary in practice since 2016 with degrees in commerce and law; on the board since March 2025.
Offer document, p.171 to p.172LAPL Automotive latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 Sept 2026: promoters unchanged at 70.18%.
LAPL Automotive announcements
6 on record, latest first; each opens the filing on the exchange
- Company Updatenew productPDF ↗
- Company UpdateCertificate under Regulation 74(5) of SEBI( Depositories and Participants) Regulation, 2018 for Quarter ended 30th September 2026PDF ↗
- Insider Trading / SASTIntimation of Closure of trading Window for the Declaration Unaudited Financial Result for September 30, 2026PDF ↗
- Company UpdateParticipation in 'Bharat Connect Conference: Rising Stars 2026 - September Edition being organised by the Company's Investor Relations firm, Arihant CapitalPDF ↗
- AGM/EGMVoting Results Pursuant to Regulation 44 of the SEBI( Listing Obligation and Disclosure Requirements) Regulations, 2015 and Scrutinizer''s report and voting resPDF ↗
- AGM/EGMProceedings of 22nd Annual General MeetingPDF ↗
LAPL Automotive annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 Sept 2026 ↗read
LAPL Automotive share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on LAPL Automotive's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 43 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,25,36,218 shares).
- !The FY26 results imply 88,00,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about LAPL Automotive
What does LAPL Automotive do?
LAPL Automotive makes vehicle lamps, starter and wiper motors, mirrors and small plastic parts at three plants in Chhatrapati Sambhajinagar, Maharashtra, mostly for one large customer and partly under its own LAPL brand. Its shares trade on BSE SME.
What is the share price of LAPL Automotive?
₹112 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of LAPL Automotive?
₹140 cr at the close on 6 Nov 2026, on 1,25,36,218 shares.
What is the P/E of LAPL Automotive?
16.2 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are LAPL Automotive's revenue and profit?
Revenue ₹93 cr and profit after tax ₹9 cr in FY26.
Who are the promoters of LAPL Automotive?
Neeraj Satyaprakash Goyal, Anita Neeraj Goyal, Shubham Neeraj Goyal; promoters held 70.18% at 30 Sept 2026.
What is LAPL Automotive's website?
www.laplautomotive.com
More SME companies like LAPL Automotive
Other listed SME companies in auto components, the closest in size first, each read from its own documents.
- Gallard SteelGALLARD · BSE SME · Auto ComponentsMarket cap ₹133 cr
- AutofurnishAFLTD · BSE SME · Auto ComponentsMarket cap ₹148 cr
- Shigan Quantum TechnologiesSHIGAN · NSE Emerge · Auto Components · listed 2022Market cap ₹130 cr
- Viaz TyresVIAZ · NSE Emerge · Auto Components · listed 2023Market cap ₹151 cr
- Emerald Tyre ManufacturersETML · NSE Emerge · Auto Components · listed 2024Market cap ₹130 cr
- Sumax EngineeringSUMAX · NSE Emerge · Auto Components · listed 2026Market cap ₹178 cr
Built from 1 offer document, 1 result filing, 1 investor presentation, 1 annual report, 6 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.