Lumax Auto Technologies Limited has approved plans to establish a new manufacturing plant in Chakan, Maharashtra, with a capital expenditure outlay of approximately Rs 156.23 crore.
The new facility will operate under the company's Intelligent Ambient Comfort (IAC) division to fulfill new component supply orders secured from Mahindra & Mahindra. Financed entirely through internal accruals, the project is projected to generate a peak annualized turnover of around Rs 440 crore once fully commissioned. Construction and setup will take place in two phases, with the initial phase scheduled for completion by the fourth quarter of FY 2027 and the second phase slated for the first quarter of FY 2028.
The announcements coincided with the release of the company's financial results for the first quarter ended June 30, 2026, where Lumax Auto Technologies reported consolidated revenue from operations of Rs 1,363.62 crore, up 32.8 percent from Rs 1,026.37 crore recorded in the corresponding period of the previous fiscal year. Consolidated net profit for the quarter rose to Rs 98.64 crore, compared to Rs 54.00 crore in the prior year period.