Lumax Auto Technologies Limited commenced operations in 1981 manufacturing diverse products catering to the two, three and four-wheeler segments. It has 12 manufacturing facilities across 5 states, 1 R&D centre, multiple product lines, 5 international partnerships and a pan-India marketing presence, making it one of the leading integrated auto components manufacturers in India. With over three decades of experience in manufacturing automotive components for leading Original Equipment Manufacturers (OEMs) and the aftermarket segment, the company is a leader in the automotive gear shifter technologies being the only one in the country having the competencies to manufacture and supply gear lever for electric cars. The company has 5 subsidiaries and 2 JVs and the consolidated revenue for the FY17 was Rs 1012 crores.
The company offers wide range of product and services such as Intake Systems, Integrated Plastic modules, 2-Wheeler Chassis & Lighting, Gear Shifters, Seat Structures & Mechanisms, LED Lighting, Aerospace & Defence Engineering Services, Aftermarket Domestic & Exports and Electrical & Electronics Components among others. In order to provideworld class products and services, the company has collaborated with Cornaglia, Italy, Mannoh, Japan, Gill Industries, USA, Austem, South Korea, Sipal, Italy, Alpine, Japan and Ituran, Israel making it the most trusted brand in all the segments.
On 25th Aug 2017, Lumax Auto Technologies has inked a joint venture agreement with Spanish electrical products maker Francisco Albero SAU (FAE) to manufacture oxygen sensors for the Indian market.
The joint venture company named Lumax FAE Technologies will initially produce oxygen sensors for the two-wheelers and the production will start from early 2019.
As part of the agreement, Lumax Auto Technologies will own 51 per cent stake in the JV company while Francisco Albero SAU will keep the remaining.
The company is betting big on the BS V1 norms to be implemented from April 2020, which will make the use of oxygen sensor compulsory in two-wheelers.
Oxygen sensor monitors the gases emitted by the vehicle engine thereby maintaining appropriate air-fuel mixture to facilitate efficient functioning of the engine.
"Implementation of BS V1 norms gives oxygen sensors a unique opportunity because today two-wheelers don't use them as they are not required to, but overnight it would be mandated through BS V1," Lumax Auto Technologies Promoter Director Deepak Jain told reporters here.
Bharat Stage V1 is a reality and 2020 April onwards not only cars but also two wheelers will actually be adopting it, Jain said, adding that for the first time a big market of almost 20 million two wheelers will go on BS VI platform.
The joint venture company will make an initial investment of Rs 14 crore for an installed capacity of 2 million oxygen sensors.
Jain further said the JV company is planning on phase 1 to garner 10 per cent of the market share out of the potential up to Rs 1,000 crore market size of the sensors in India.
Lumax Auto Technologies Ltd has entered the Indian aerospace and defence sector through a joint venture with Italy's SIPAL.
Left: Inside Lumax Auto Technologies Ltd & its Directors
"As per the JV agreement, Lumax will hold 51 per cent equity with management control over the JV and SIPAL S.p.A. will hold 49 per cent equity in the new JV company under formation as Lumax SIPAL Engineering Private Ltd," Lumax Auto Technologies said in a BSE filing.
It further said: "The proposed JV is expected to become operational in fiscal 2017 and will be a full service provider for all types of Integrated Logistic Support Engineering having a strong knowledge and experience in Technical Publishing.
Product/Manufacturing engineering, Process engineering, design and manufacture of toolings, design of systems of production lines related to the Aerospace, Defence & Automotive sectors."
Lumax Auto Technologies Managing Director Anmol Jain said: "The Indian aerospace and defence market presents an attractive and significant opportunity for Indian and foreign companies across the supply chain... About 60 per cent of its defence requirements are met through imports. This offers a great opportunity for Lumax.
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