Lumax Auto Technologies Limited announced that at its board meeting held on May 30, 2023, approved Closure of the two units of the Company situated at W-230-E, 'S' Block, M.I.D.C. Bhosari, Pune, Maharashtra ("Bhosari Unit, Pune") and K-76, M.I.D.C., Waluj, Industrial Area, Aurangabad, Maharashtra ("K-76 Unit, Aurangabad"). Reasons for closure: Bhosari Unit, Pune: Considering the phased-out technology and losses in spite of attempts to turn it around, making it unviable to continue running the Unit. The manufacturing operations of the unit have been shifted to other units of the Company, hence there is no adverse impact of the closure on the financials of the Company.

K-76 Unit, Aurangabad: Considering the low demand from the customers, it was considered prudent to merge the operations of the unit to other unit of the Company located at Aurangabad. There is no adverse impact of this closure on the financials of the Company.