StockWatch
·
Auto Components & Equipments
Board Meeting29 May 2026, 05:32 pm

Lumax Auto Tech: ₹5.50 Dividend, Deepak Jain as Vice Chairman

AI Summary

Lumax Auto Technologies Ltd's board approved audited financial results for FY26, recommending a final dividend of ₹5.50 per share. Deepak Jain was appointed Vice Chairman. The company will acquire the remaining stake in Lumax FAE Technologies, making it a wholly-owned subsidiary. Approvals are sought for related party transactions with Lumax Industries, loans under Section 185, and investment in Lumax Yokowo Technologies. A corporate guarantee for Lumax Alps Alpine India is planned, along with modifications to a channel financing facility.

Key Highlights

  • Final dividend of ₹5.50 per share (275%) recommended for FY26.
  • Deepak Jain appointed Vice Chairman, effective May 29, 2026.
  • Acquisition of remaining 15.97% stake in Lumax FAE Technologies approved.
  • Shareholder approval sought for related party transactions with Lumax Industries.
  • Investment of up to ₹3 Crores in Lumax Yokowo Technologies approved.