Investment that Mirrors Confidence
Well-positioned amid a challenging environment
India is well-positioned to witness sustainable and robust growth in the Automotive industry with significant growth opportunities.
Estimated Automotive
LED Market in India
CAGR of Automotive LED
Market, Anticipated by 2027
(Source: maximizemarketresearch.com)
Robust partnerships
Lumax has partnered two joint ventures, with Stanley Electric Co. Japan & SL Corporation Korea, allowing the Company to produce the best-in-class products for its consumers while also providing LIL with an advantage over global competitors.
Product launches
Backed by innovation and R&D, Lumax Industries launches new products each year, focusing on industry trends. Thereby, expanding the Company’s addressable market size.
Market leader in automotive lighting solutions
With significant market share in India, Lumax Industries is poised to become India’s largest automotive lighting manufacturer.
R&D and technology leadership
The R&D team is dedicated to create cutting-edge designs. These designs align with the dynamic industry requirements and aid in offering services/products backed by the best-in-class technology.
₹ 48
R&D expenditure
in FY 2021-22
Decades-rich Relationship with Stanley Electric Co., Japan
Lumax Industries is the pioneer and most experienced company in India’s Automotive Lighting space. The Company shares a long-standing association with Stanley Electric Co. Limited, Japan, which dates back close to 40 years. As a world leader in Vehicle Lighting and illumination products, Stanley Electric Co. Limited manufactures automotive lamps, LEDs (ultraviolet, visible, infrared), and other electronics, with manufacturing at its core.
Lumax leveraged the technical capabilities of Stanley for manufacturing the Printed Circuit Board (PCB) – the core component of LED automotive lighting system. However, the Company has extended its joint venture to widen its product line in Heating Ventilation Air Conditioning panel (HVAC panels). The Company is manufacturing PCBs at its electronics plant at Bawal.
This strong partnership will help Lumax Industries meet the future need for electronic components and electronic software in automobiles. The Company is working on producing cutting-edge electronic components and software that are also EV-agnostic. This will help the Company in the future when EVs will witness high demand in India.