Lumax Industries' Board Approves New Manufacturing Facility and Chakan Plant Expansion

At its meeting on March 12, 2024, Lumax Industries' Board approved the setting up of a new manufacturing facility in Sanand, Gujarat, and the expansion of the Chakan Plant in Pune. Both projects are expected to be commissioned by Q1 and Q3 of FY2024-25 respectively. The new facilities are intended to cater to new orders from OEM customers for advanced lighting solutions. The total investment required for these projects is Rs. 152.60 Crores, a mix of debt and internal accruals will be used for financing. The new capacity, upon commissioning, is expected to produce 25.38 Lakh Lamps per annum for Chakan Plant-I, with a current capacity utilization of 20.52 Lakh Lamps per annum. An additional 8.50 Lakh Lamps per annum capacity is proposed to be added.