Lumax Auto to set up ₹156 Cr IAC plant in Chakan, Maharashtra

Lumax Auto Technologies Ltd's Board of Directors has approved the establishment of a new manufacturing plant for its Intelligent Ambient Comfort (IAC) division in Chakan, Maharashtra. The project involves a capital outlay of approximately ₹156.23 Crores and is intended to cater to new orders from Mahindra & Mahindra. The expansion will be funded through internal accruals, with an expected peak annualized turnover of around ₹440 Crores post-commissioning. The plant is slated for commissioning in two phases, with the first phase expected by Q4 FY2027 and the second by Q1 FY2028. The board also approved the un-audited standalone and consolidated financial results for the first quarter ended June 30, 2026, and the issuance of a corporate guarantee of up to ₹8 Crores for Lumax FAE Technologies Private Limited.