Lumino Industries IPO: Should you plug into this power play?

Lumino Industries is hitting the stock market with a ₹700 crore IPO, and the headline numbers look genuinely impressive. Revenue up 45% in two years, net profit nearly doubled to ₹160 crore, and EBITDA margins at 11.71%, well above the peer average of ~8.61%. But the balance sheet tells a more complicated story. This episode breaks down Lumino's integrated power transmission model, its ₹3,149 crore order book, the strong tailwinds from government schemes, and the red flag that debtor days have climbed 57% over the same period the Indian stock market is watching closely. Get the full market picture on askfuzz.ai.