The appointment succeeds resignation of Vishnu Johri from his position of CEO (key managerial personnel) of the company owing to his personal reasons with effect from close of business hours of 30 June 2024.
Raju Bhauso, a BE Mechanical and Masters in Machine Design from Bangalore University, is a senior industry veteran and has over 3 decades of experience in the manufacturing sector. Before joining Lumax, he was associated with Toyota Kirloskar Motors (TKML) as executive vice president- manufacturing. He was also on the board of TKML.
Lumax Industries is one of the leading players in the domestic automotive lighting industry with a product portfolio of automotive lighting systems such as headlamps, tail lamps, other sundry and auxiliary lamps. The company’s presence spans all segments of the auto sector, viz., PVs, 2Ws, CVs, buses, tractors, etc.
The company reported a 73.86% jump in consolidated net profit to Rs 36.06 on 22.13% increase in revenue from operations to Rs 742.68 in Q4 FY24 over Q4 FY23.
The scrip rose 1.48% to end at Rs 2,689.90 on Friday, 7 June 2024.