New Delhi, Dec. 6 -- Most investors think the auto theme begins and ends with original equipment manufacturers (OEMs).

While the spotlight remains on the big names, such as Maruti and Tata, a silent transformation is occurring deeper in the supply chain-one that retail investors rarely notice.

Car lighting has evolved far beyond basic halogen headlamps. Today's buyers want sharper styling, better visibility, and premium tech, pushing the industry toward LED, matrix, and even OLED systems. As a result, LED now powers nearly 60-70% of new cars, and this shift is accelerating every year.

With that in mind, here are two Indian auto-ancillary companies quietly benefiting from this structural upgrade-and worth adding to your watchlist.

Luma...