Lumax Industries Ltd approves new greenfield project at Chakan, Pune

The Board of Directors of Lumax Industries Ltd, at their Meeting held today i.e. Wednesday, December 07, 2022, has considered and approved the setting up of the new Greenfield Project at Chakan, Pune (Maharashtra) with the Capital outlay up to Rs. 175 Crs for Phase 1. This project will cater to the new orders received from OEM customers for advance lighting solutions.

The Capex will be funded by mix of Debt and internal accruals and peak annualized turnover is expected to the tune of Rs. 600 crores post commissioning. The Project is expected to be commissioned by Q2 FY 24.

Shares of Lumax Industries Limited was last trading in BSE at Rs. 1893.90 as compared to the previous close of Rs. 1846.35. The total number of shares traded during the day was 3314 in over 1163 trades.

The stock hit an intraday high of Rs. 1918.45 and intraday low of 1808.40. The net turnover during the day was Rs. 6243868.00.

Source : Equity Bulls

Keywords

LumaxIndustries INE162B01018 GreenfieldProject Chakan Pune Expansion