Lumax Industries has received an approval for setting up of the new Greenfield Project at Chakan, Pune (Maharashtra) with the Capital outlay up to Rs 175 crore for Phase 1. This project will cater to the new orders received from OEM customers for advance lighting solutions.
The Capex will be funded by mix of Debt and internal accruals and peak annualized turnover is expected to the tune of Rs 600 crore post commissioning. The Project is expected to be commissioned by Q2 FY 24. The Board also approved availing of Long Term Credit Facilities to fund the aforesaid Project. The Board of Directors, at their Meeting held on December 07, 2022, has considered and approved the same.
Lumax Industries is a market leader in the Indian Automobile Lighting Business.
