Lumino Industries Limited - IPO

Incorporated in 2005, Lumino Industries Limited is a product-driven engineering, procurement, and construction(EPC) company manufacturing and supplying conductors, power cables, electrical wires, and specialised components for India's power distribution and transmission industry.

The company manufactures high-temperature, low-sag (HTLS) conductors for distribution and transmission lines and is the fastest-growing player in the conductors, power cables, and EPC industry.

The company has developed a product-driven business model focused on designing, manufacturing, and distributing specialised products for power distribution, industrial, renewable energy, and communication applications.

The company supplies products to international clients, including government-owned electricity companies in countries like the USA, Nepal, and Ghana. In Fiscal 2024, 62.38% of EPC project products were manufactured in-house.

The company's electrical wire business operates in four states in India through a network of approximately 122 distributors.

The company operates two manufacturing facilities in Howrah, West Bengal, with a combined capacity of 40,000 MT of aluminium per year, and three warehouses covering approximately 110,000 sq. ft.

Business Segments:

• Manufacturing: The company is the fastest-growing player in the conductors, power cables, and EPC industry (CAGR 2022-2024). Its products include aluminium conductors, power cables, and electrical wires under the 'Lumicon' brand.
• EPC: The company's EPC segment includes power distribution, EHV substations, HTLS re-conductoring, railway electrification, and solar projects. It serves clients in India and Rwanda, ensuring efficient project planning and execution.

Products:

• Aluminium Conductors: Aluminium conductors are vital for transmitting electrical energy efficiently over long distances to power substations via overhead lines. The company uses them in distribution networks, industrial applications, and power plants.
• Power Cables: Power cables are used for transmitting and distributing high-voltage electrical power in various industrial and commercial applications. The company manufactures low voltage, aerial bundled, railway signalling, and concentric cables.
• Electrical Wires: The company entered the wire business in 2023 under the 'Lumicon' brand, manufacturing thermoset insulated wire, earth wires, and house wires.

Competitive Strengths:

• The fastest growing player in the power EPC industry with in-house manufacturing capabilities.
• Cost-efficient and unique business model with complementary and integrated business segments.
• Well-developed and integrated manufacturing facilities with an extensive product range
• Strong and diversified order book.
• Strong strategic alliances and partnerships with prominent international companies.
• Experienced Promoters and committed management team, with skilled workforce.