Jagan Lamps, engaged in manufacturing automotive lighting has planned for capacity expansion by the end of Financial Year 2021-22. The company is expected to operate at 65-70% capacity utilization, which will give the company bandwidth to grow business for another 2-3 years at minimal capex.

The capacity expansion will make the Company one of the largest manufacturer of automotive bulbs in India with widest range under its portfolio.The proposed Capital Expenditure in Plant & Machinery, Utilities and other related infrastructure will be financed by mix of internal accruals and debt.

"We continue to focus on our core strength of innovation and expansion to offer value added, high quality products to our customers across the globe," the company said.

Jagan Lamps is currently exporting around 30% of its production annually to around 40 Countries globally and has strong order book for the next 2-3 years. The Company is at the fag end of the capex cycle. It is running at ~ 85-90% capacity utilization.

Shares of the company gained Rs 0.50, or 0.80%, to settle  at  Rs 63.20.  The total volume of shares traded  was  13,148 at  the BSE (Tuesday).