LAPL Automotive IPO

LAPL Automotive is an integrated automotive parts manufacturer that functions through two complementary business models called Original Design Manufacturing (ODM) and Original Brand Manufacturing (OBM), having a diversified range of products, including automotive lighting systems, mirrors and plastic injection moulding products, targeting OEMs in passenger cars, commercial vehicles, two-wheelers and electric mobility segments. The company provides customised LED lighting products through its testing facility, where it carries out environmental, tensile, flammability, voltage control, endurance and drop tests according to Automotive Indian Standards.

The company's manufacturing division consists of four different divisions and after-sales services as follows: Lighting (blinkers, headlights, taillights, indicators, DRL, reflectors and all other accessories), Motor (starter motor, rotor, wiper motor and stator of two- and three-wheelers), Mirror (rear-view mirror with antiglare and abrasion-resistant properties) and Hoods & other accessories (soft canopies, BLDC fans, chargers and bottle holders).

In terms of business verticals, the contribution of the ODM business was 77.9%, and that of OBM vertical was 22.1% in FY26. The Motor division contributes the most at 59.3% of revenue in FY26. It is followed by the Lighting division, which contributed 34.1% of revenue in FY26. The Mirror division, hoods, and accessories contribute 6.5% in FY26. Geographically, Maharashtra contributes 86.2% of revenue in FY26, followed by Madhya Pradesh at 4.8% and Gujarat at 2.9%.