Lumax Auto Technologies Limited (LATL) announced a significant development in its corporate restructuring efforts. The company's step-down subsidiary, Greenfuel Energy Solutions Private Limited (GESPL), has received approval from both secured and unsecured creditors for its proposed amalgamation with Lumax Resources Private Limited (LRPL).

Creditor Approval

The approval came during National Company Law Tribunal (NCLT) convened meetings held on September 15, 2025. According to the company's filing, the scheme of amalgamation was approved with the requisite majority by both secured and unsecured creditors of GESPL.

Details of the Amalgamation

The amalgamation involves:

• Transferor Company: Greenfuel Energy Solutions Private Limited (GESPL)
• Transferee Company: Lumax Resources Private Limited (LRPL)

It's worth noting that LRPL is a wholly-owned subsidiary of Lumax Auto Technologies Limited, while GESPL is a step-down subsidiary.

Next Steps

While this approval marks a crucial step forward, the amalgamation process is not yet complete. The scheme remains subject to:

1. Final sanction by the NCLT Chandigarh Bench
2. Other required regulatory approvals

Corporate Disclosure

The information was disclosed by Lumax Auto Technologies Limited in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Pankaj Mahendru, Company Secretary & Compliance Officer of Lumax Auto Technologies Limited.

This corporate action represents a strategic move by Lumax Auto Technologies to streamline its corporate structure. The amalgamation, once completed, could potentially lead to operational synergies and more efficient resource allocation within the group.

Lumax Auto Technologies Limited , a prominent player in the auto components sector, has released its financial results for the third quarter and nine months ended December 31, 2019, along with several strategic business decisions.

Financial Performance

The company reported a net profit of Rs 1,228.82 lakhs for Q3 2019, showing a slight decrease from Rs 1,289.08 lakhs in the corresponding quarter of the previous year. Revenue from operations stood at Rs 24,263.35 lakhs for the quarter under review.

Strategic Business Decisions

Joint Venture Termination

In a significant move, the Board of Directors has decided to terminate the joint venture agreement with Gill-Austem LLC. This decision comes in the wake of non-performance of obligations by the partner, even after the expiry of the cure period. The joint venture company, Lumax Gill-Austem Auto Technologies Private Limited, was previously held on a 50:50 shareholding basis between the partners.

New Investment and Entity Formation

Lumax Auto Technologies has approved investments totaling Rs 7.01 crores for incorporating a new entity called Lumax Yokowo Technologies Private Limited. This strategic investment signals the company's commitment to expanding its portfolio and capabilities in the auto technology sector.

Corporate Governance

In line with best practices in corporate governance, the Board has appointed Maneesh Gupta as the Secretarial Auditor for the financial year 2019-2020.

Future Outlook

While the company faces challenges, as evidenced by the slight dip in quarterly profits, the strategic decisions taken by the Board indicate a focus on streamlining operations and exploring new growth avenues. The termination of the underperforming joint venture and the investment in a new entity suggest that Lumax Auto Technologies is actively repositioning itself in the competitive auto components market.

Note: All financial figures are in Indian Rupees (INR).