The Board of Directors in their meeting held on May 29, 2026 have considered and approved the proposal to issue/ provide corporate guarantee/ letter of comfort/ post dated cheques (PDCs) ....
LUMAXTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lumax Auto Technologies held its Board meeting on May 29, 2026 and approved several key items. The company reported strong FY2026 standalone revenue of Rs. 3,605 crore (up 25.6% YoY) with net profit of Rs. 206.9 crore, while consolidated revenue reached Rs. 4,870 crore (up 33.9% YoY) with net profit of Rs. 337.1 crore. The Board recommended a final dividend of Rs. 5.50 per equity share (275%) for FY2025-26, subject to shareholder approval. Mr. Deepak Jain was redesignated as Vice Chairman (Non-Executive). The Board approved: (a) acquisition of remaining 15.97% stake in Lumax FAE Technologies Private Limited to make it a wholly-owned subsidiary, (b) corporate guarantee/letter of comfort/PDCs up to Rs. 36 crore for Lumax Alps Alpine India Private Limited, (c) seeking shareholder approval for loans/guarantees up to Rs. 500 crore under Section 185, and (d) investment up to Rs. 3 crore in Lumax Yokowo Technologies Private Limited.
The company demonstrated robust growth in FY2026 with both standalone and consolidated profits rising approximately 20% YoY. The corporate guarantee for the subsidiary and higher Section 185 approval limit indicate potential contingent liabilities, though these support subsidiary growth. The dividend declaration is positive for shareholders.