Lumax Auto Technologies Approves ₹15 Cr Guarantee for Subsidiary
Lumax Auto Technologies Ltd's Board of Directors has approved the issuance of corporate guarantees, letters of comfort, or post-dated cheques to secure a loan of up to ₹15 Crores (₹150 Million) for its subsidiary, Lumax Greenfuel Energy Solutions Private Limited. The company also approved the setting up of a new Mechatronics manufacturing facility in Manesar, Haryana, with a capital outlay of approximately ₹150 Crores (₹1,500 Million), expected to cater to electronic components for leading OEMs and commissioned in phases starting Q3 FY28. Additionally, the Board reviewed the relocation of a manufacturing facility in Aurangabad. The company also disclosed its un-audited standalone and consolidated financial results for the second quarter and half-year ended September 30, 2026.
Key Highlights
- Board approved corporate guarantee up to ₹15 Cr for subsidiary Lumax Greenfuel.
- New Mechatronics manufacturing facility to be set up in Manesar at ₹150 Cr.
- New facility to cater to Electronic Components, targeting ₹500 Cr turnover.
- Un-audited financial results for Q2 FY27 declared.
- Manufacturing facility relocation from Aurangabad approved.
Price Impact
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