Lumax Industries Limited has approved investments of up to Rs. 1.19 Crores in FPEL Ujwal Private Limited and Rs. 0.69 Crores in Clean Max Nabia Private Limited.

These investments allow Lumax to qualify as a captive user under the Electricity Act, facilitating energy generation from a hybrid power project for their Bengaluru plant and solar energy for the Pantnagar plant, respectively.

While the investment in FPEL Ujwal grants a stake of up to 5% in the renewable energy sector, the investment in Clean Max Nabia maintains their existing 49% holding.

These strategic moves are aimed at enhancing energy sustainability for Lumax's operations without significant financial impacts on the company.