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Lakshmi Machine Works Limited
Sector:Engineering Engineering - Textile Machinery
BSE:500252NSE:LAXMIMACHBloomberg:LMW@INReuters:LKMC.BO
Market Lot: 1Face Value: 10ISIN Demat: INE269B01029
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24-Jul-2018
Business Profile
Lakshmi Machine Works (LMW) manufactures the entire range of textile machinery. The company was incorporated on Sept. 14, 1962.

The company`s textile machinery division offers a range of products under the card silver, combing and ring spinning systems like Bale pluckers, vario cleaners, silver laps, draw frames, speed and ring frames; accessories like spindles, gears, rings, cots and aprons, top rollers and flyers. It has an installed capacity of 2.7 million spindles.

The machine tool division manufactures CNC lathes, machine tools and CNC universal boring and milling machines in technical collaboration with Mikron, Switzerland. The foundry division manufactures ductile iron castings like windmill, locomotive, marine transmission and traction motor castings; railway undercarriage parts; and traction gearbox housings. Grey iron castings include engine castings, turbo charger castings, pressure tight parts, hydraulic transmission parts and heavy pump castings. Business partners include General Electric, Siemens, MTU, Wartsila and Armstrong.

The manufacturing plant of the company is in Arasur, India. The company is ISO 9000 certified. Recent awards include the Top Exporter for the year 2005-2006 with Gold Trophy (Medium Enterprise) from Engineering Export Promotion Council, Kolkata. The company has a well organized sales force in India and a major presence in countries like Bangladesh, Thailand, Indonesia, Vietnam, Iran, Egypt, Kenya and Turkey.

The registered office of the company is at Perianaickenpalayam, Coimbatore, Tamil Nadu-641020.


Financials
The company announced rise of 4.31% in standalone net profit on y-o-y basis to Rs 496.78 million, while total income fell 9.53% y-o-y basis to Rs 6.69 billion for the quarter ended June 2018.

Recent Developments
07-FEB-17
Lakshmi Machine Works disclosed a steep drop in standalone net profit for the quarter ended December 2016. During the quarter, the profit of the company declined 21.63% to Rs 512.58 million from Rs 654.07 million in the same quarter previous year.

21-MAY-15
Lakshmi Machine Works disclosed a good increase in standalone net profit for the quarter ended March 2015. During the quarter, the profit of the company rose 25.24% to Rs 672.59 million from Rs 537.05 million in the same quarter previous year.

19-DEC-13
Sobha Developers and Lakshmi Machine Works (LMW) have launched a unique residential project called elan at Parasakthi Nagar, Ganapathy, Coimbatore.

24-MAY-12
Lakshmi Machine Works announced Wednesday a 84.25% drop in net profit to Rs 69.86 million for the quarter ended Mar. 31, 2012 as against Rs 443.59 million in Mar. 31, 2011.

23-JAN-12
Lakshmi Machine Works has posted net profit of Rs 396.50 million for the quarter ended December 31, 2011 as compared to Rs 458.25 million for the quarter ended December 31, 2010, representing a decrease of 13.48%.

05-JAN-12
After quite a gap, textile machinery manufacturing major Lakshmi Machine Works (LMW) today announced the launch of JVM 60, a moving column vertical machining centre for the automobile and auto- ancillary industry.

10-AUG-11
Lakshmi Machine Works has posted a net profit of Rs 411.42 million for the quarter ended June 30, 2011 as compared to Rs 300.93 million for the quarter ended June 30, 2010, representing increase of 36.72%.



In Brief

 
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