Lumino Industries Limited IPO

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.

Business Model

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.

It 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.

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.

Product Portfolio

Aluminium Conductors

Vital for transmitting electrical energy efficiently over long distances to power substations via overhead lines. Used in distribution networks, industrial applications, and power plants.

Power Cables

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.

Manufacturing Facilities & Distribution

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.

Its electrical wire business operates in four states in India through a network of approximately 104 distributors.

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