Lumax Industries Limited, at its Board of Directors meeting held on June 08, 2024, has accepted the resignation letter dated June 08, 2024, received from Mr. Vishnu Johri from the position of Chief Executive Officer (Key Managerial Personnel) of the Company, citing personal reasons. His resignation will be effective from the close of business hours of June 30, 2024.
The company has also approved the appointment of Mr. Raju Bhauso Ketkale as the Chief Executive Officer designated as Key Managerial Personnel, effective from July 01, 2024. Mr. Ketkale, a BE Mechanical and Masters in Machine Design from Bangalore University, is a seasoned industry veteran with over three decades of experience in the manufacturing sector.
Mr. Ketkale has been associated with Lumax D.K. Jain Group since October 2023. Prior to joining Lumax, he held the position of Executive Vice President- Manufacturing at Toyota Kirloskar Motors (TKML). He also served on the Board of TKML.
During his career, Mr. Ketkale has successfully led significant structural reforms in manufacturing, technical functions, and Human Resource Development (HRD) & Sustainability. He has been instrumental in achieving cost competitiveness, manufacturing excellence, and establishing a future-ready organization & leadership pipeline prepared to face challenges in new technology, electrification, carbon neutrality, and digitalization.
Lumax Industries is a prominent player in the domestic automotive lighting industry, offering a diverse product portfolio of automotive lighting systems including headlamps, tail lamps, and other auxiliary lamps. The company’s presence encompasses all segments of the auto sector, including PVs, 2Ws, CVs, buses, tractors, etc.
In the last quarter of FY24, the company reported a significant 73.86% increase in consolidated net profit to Rs 36.06 and a 22.13% increase in revenue from operations to Rs 742.68 over Q4 FY23.