Lumax Industries, a leading supplier of lighting products for the automobile industry, has earmarked up to Rs 100 crore to invest on expanding existing facilities as well as operations over a period of one year.
The company's board has approved a capital expenditure plan of up to Rs 100 crore over a period of 12 months for expanding existing manufacturing facilities in Sanand and future expansion for supply of automotive lighting products to its customers, Lumax Industries said in a regulatory filing.
The company manufactures products such as head lamps for four-wheelers and two-wheelers, rear combination lamps, auxiliary lamps and sundry lamps for Indian as well as global leading brands such as Hero MotoCorp, Honda Cars, Maruti Suzuki and Tata Motors.
It also exports its products to Audi, Nissan, JLR and John Deere.
Shares of the company were trading at Rs 1,118 apiece on the BSE, up 4.74 per cent from previous close.
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