Lumax Auto Technologies announced its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026. The Board of Directors also approved the setting up of a new manufacturing plant for its Intelligent Ambient Comfort (IAC) Division in Chakan, Maharashtra, with a significant capital outlay of ₹156.23 crore. This expansion is geared towards catering to new orders from Mahindra & Mahindra.
Board Meeting Outcomes: Financials and Expansion
Lumax Auto Technologies Limited held its Board of Directors meeting on August 10, 2026, during which key financial and strategic decisions were made. The Board considered and approved the unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026. These results, along with the limited review reports from the statutory auditors, have been made public and are available on the company’s website.
New Manufacturing Facility in Chakan
A significant strategic initiative approved by the Board is the establishment of a new manufacturing plant for the Company’s Intelligent Ambient Comfort (IAC) Division. The plant will be located in Chakan, Maharashtra, and represents a substantial capital expenditure of approximately ₹156.23 crore. This expansion is a direct response to new orders secured from Mahindra & Mahindra.
Projected Impact and Timeline
The capital expenditure for this new plant is expected to be funded through internal accruals. The company anticipates that the plant will cater to new orders, with a projected peak annualized turnover of around ₹440 crore post-commissioning. The project is slated for phased commissioning, with the first phase by Q4 FY 2027 and the second phase by Q1 FY 2028.
Corporate Guarantee for Subsidiary
In addition to the financial results and expansion plans, the Board also approved the issuance of a Corporate Guarantee / Letter of Comfort / Post Dated Cheques (PDCs) to secure loans for its subsidiary, Lumax FAE Technologies Private Limited. This facility is up to a maximum of ₹8 crore, intended to support the subsidiary’s capital expenditure and working capital requirements.
Source: BSE
