Lakshmi Machine Works Ltd

About [ edit ]

Lakshmi Machine Works is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry. The Company caters to both domestic and international markets.(Source : 202003 Annual Report Page No:136)

  • Market Cap 6,594 Cr.
  • Current Price 6,172
  • High / Low 7,860 / 2,392
  • Stock P/E 229
  • Book Value 1,554
  • Dividend Yield 0.16 %
  • ROCE 2.41 %
  • ROE 1.50 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 26.35%

Cons

  • Stock is trading at 3.97 times its book value
  • The company has delivered a poor sales growth of -8.75% over past five years.
  • Promoter holding is low: 31.11%
  • Company has a low return on equity of 8.64% for last 3 years.
  • Earnings include an other income of Rs.71.30 Cr.

Peer comparison

Sector: Textiles Industry: Textile Machinery

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
680 814 636 581 459 409 320 386 169 396 479
620 722 547 549 451 400 319 393 197 382 438
Operating Profit 60 93 89 32 8 9 1 -7 -28 14 41
OPM % 9% 11% 14% 5% 2% 2% 0% -2% -17% 4% 8%
Other Income 27 -3 12 30 22 24 20 26 16 9 20
Interest 0 0 0 0 0 0 0 0 0 0 0
Depreciation 15 15 14 12 14 14 14 14 14 14 14
Profit before tax 72 74 86 49 16 19 7 6 -25 9 47
Tax % 31% 43% 31% 32% 33% 34% 56% 66% 15% 19% 29%
Net Profit 50 42 60 34 10 12 3 2 -22 7 33
EPS in Rs 45.50 38.68 55.80 31.39 9.80 11.38 3.05 1.76 -20.24 6.47 31.13

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,338 1,131 1,824 2,305 2,017 2,338 2,488 2,863 2,499 2,643 2,712 1,574 1,430
1,153 965 1,571 2,036 1,789 2,074 2,179 2,527 2,245 2,371 2,450 1,565 1,410
Operating Profit 185 165 253 269 228 264 309 337 254 271 262 9 20
OPM % 14% 15% 14% 12% 11% 11% 12% 12% 10% 10% 10% 1% 1%
Other Income 91 77 78 85 76 111 92 89 88 107 77 94 71
Interest 4 1 1 6 1 2 1 1 0 1 1 1 0
Depreciation 118 96 105 120 119 104 100 88 80 76 55 55 55
Profit before tax 154 146 225 228 184 268 301 337 262 302 283 47 35
Tax % 31% 31% 32% 39% 29% 30% 27% 33% 29% 29% 34% 41%
Net Profit 107 100 153 139 130 189 220 227 186 215 185 28 20
EPS in Rs 136.03 123.22 115.02 167.81 194.97 201.78 170.15 195.92 173.53 25.99 19.12
Dividend Payout % 17% 19% 22% 41% 17% 18% 19% 20% 21% 20% 20% 38%
Compounded Sales Growth
10 Years:3%
5 Years:-9%
3 Years:-14%
TTM:-19%
Compounded Profit Growth
10 Years:-13%
5 Years:-35%
3 Years:-48%
TTM:-52%
Stock Price CAGR
10 Years:11%
5 Years:13%
3 Years:-13%
1 Year:149%
Return on Equity
10 Years:13%
5 Years:11%
3 Years:9%
Last Year:2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
12 12 11 11 11 11 11 11 11 11 11 11 11
Reserves 831 908 798 873 945 1,097 1,271 1,523 1,547 1,736 1,700 1,650 1,650
Borrowings 0 0 0 0 0 0 0 0 0 3 3 0 0
650 673 1,040 1,070 883 960 956 863 808 885 743 686 630
Total Liabilities 1,494 1,593 1,848 1,954 1,839 2,068 2,237 2,397 2,367 2,635 2,457 2,346 2,290
519 449 432 552 442 393 439 464 520 570 699 711 709
CWIP 10 3 11 10 14 36 6 8 6 21 12 30 23
Investments 104 104 77 64 64 64 64 88 61 83 124 136 178
861 1,037 1,330 1,327 1,318 1,576 1,729 1,838 1,780 1,961 1,621 1,470 1,380
Total Assets 1,494 1,593 1,848 1,954 1,839 2,068 2,237 2,397 2,367 2,635 2,457 2,346 2,290

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
138 108 281 176 81 151 131 81 137 211 99 74
-43 19 -3 -148 -29 -114 -54 -64 68 -23 29 -70
-36 -22 -248 -40 -65 -27 -40 -52 -195 -44 -215 -49
Net Cash Flow 59 105 30 -11 -13 10 36 -35 9 144 -88 -45

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 17% 26% 27% 20% 25% 26% 24% 16% 18% 18% 2%
Debtor Days 14 19 17 24 22 24 30 30 28 34 26 25
Inventory Turnover 6.74 5.42 5.35 4.81 4.91 4.73 5.58 4.54 4.69 4.92 3.13

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
30.07 30.07 30.83 30.83 30.83 30.91 30.95 30.95 31.11 31.11 31.11 31.11
5.19 5.18 5.09 5.34 5.52 5.48 5.56 1.51 1.33 1.31 1.51 3.21
17.58 17.28 15.38 15.45 15.81 17.24 16.01 17.95 17.69 15.25 14.61 12.53
47.16 47.48 48.70 48.37 47.84 46.37 47.48 49.59 49.87 52.32 52.77 53.14

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