LMW Ltd
Lakshmi Machine Works Ltd is a leading Textile Machinery Manufacturer in India engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings, and parts and components catering to diverse sectors.[1]
- Market Cap ₹ 16,765 Cr.
- Current Price ₹ 15,693
- High / Low ₹ 17,174 / 11,729
- Stock P/E 122
- Book Value ₹ 2,781
- Dividend Yield 0.22 %
- ROCE 6.34 %
- ROE 4.71 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 19.8%
Cons
- Stock is trading at 5.64 times its book value
- Company has a low return on equity of 7.27% over last 3 years.
- Earnings include an other income of Rs.126 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE Industrials BSE 1000 BSE India Defence
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,385 | 2,753 | 2,213 | 2,559 | 2,636 | 1,570 | 1,690 | 3,072 | 4,533 | 4,597 | 2,909 | 3,082 | |
| 2,096 | 2,434 | 1,958 | 2,292 | 2,367 | 1,547 | 1,621 | 2,842 | 4,130 | 4,167 | 2,769 | 2,885 | |
| Operating Profit | 288 | 319 | 256 | 266 | 269 | 24 | 69 | 229 | 404 | 430 | 141 | 196 |
| OPM % | 12% | 12% | 12% | 10% | 10% | 2% | 4% | 7% | 9% | 9% | 5% | 6% |
| 97 | 93 | 86 | 104 | 69 | 92 | 57 | 64 | 155 | 142 | 253 | 126 | |
| Interest | 1 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 96 | 83 | 75 | 71 | 50 | 50 | 52 | 56 | 73 | 92 | 107 | 114 |
| Profit before tax | 288 | 328 | 266 | 299 | 287 | 64 | 74 | 237 | 485 | 480 | 287 | 208 |
| Tax % | 28% | 33% | 28% | 29% | 34% | 30% | 36% | 24% | 28% | 23% | 17% | 26% |
| 207 | 220 | 191 | 211 | 189 | 45 | 47 | 180 | 350 | 371 | 238 | 154 | |
| EPS in Rs | 184.13 | 195.38 | 173.98 | 192.98 | 177.18 | 42.12 | 44.43 | 168.19 | 327.82 | 347.64 | 223.01 | 144.08 |
| Dividend Payout % | 20% | 20% | 20% | 21% | 20% | 24% | 22% | 24% | 30% | 22% | 13% | 24% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 13% |
| 3 Years: | -12% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -5% |
| 5 Years: | 21% |
| 3 Years: | -25% |
| TTM: | 31% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 17% |
| 3 Years: | 4% |
| 1 Year: | -6% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 9% |
| 3 Years: | 7% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 1,249 | 1,492 | 1,527 | 1,711 | 1,680 | 1,646 | 1,770 | 1,975 | 2,289 | 2,652 | 2,861 | 2,960 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 911 | 805 | 774 | 832 | 736 | 685 | 962 | 1,637 | 1,764 | 1,322 | 1,205 | 1,303 | |
| Total Liabilities | 2,172 | 2,308 | 2,312 | 2,554 | 2,427 | 2,342 | 2,742 | 3,622 | 4,064 | 3,984 | 4,077 | 4,274 |
| 374 | 401 | 462 | 515 | 648 | 664 | 659 | 681 | 863 | 930 | 951 | 908 | |
| CWIP | 3 | 8 | 3 | 21 | 12 | 30 | 11 | 5 | 23 | 9 | 4 | 1 |
| Investments | 129 | 153 | 126 | 148 | 189 | 201 | 351 | 521 | 581 | 706 | 901 | 1,075 |
| 1,666 | 1,747 | 1,720 | 1,869 | 1,577 | 1,447 | 1,722 | 2,414 | 2,598 | 2,339 | 2,221 | 2,291 | |
| Total Assets | 2,172 | 2,308 | 2,312 | 2,554 | 2,427 | 2,342 | 2,742 | 3,622 | 4,064 | 3,984 | 4,077 | 4,274 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 103 | 100 | 132 | 165 | 125 | 86 | 156 | 477 | 324 | 140 | 26 | 154 | |
| -41 | -66 | 68 | -20 | 30 | -70 | -144 | -445 | -245 | -61 | 68 | -63 | |
| -40 | -52 | -195 | -47 | -215 | -45 | -11 | -11 | -43 | -105 | -80 | -32 | |
| Net Cash Flow | 22 | -18 | 5 | 98 | -61 | -29 | 1 | 21 | 36 | -26 | 14 | 59 |
| Free Cash Flow | 16 | -13 | 15 | 38 | -46 | 11 | 135 | 405 | 75 | -4 | -96 | 101 |
| CFO/OP | 67% | 67% | 86% | 92% | 73% | 495% | 282% | 237% | 93% | 60% | 31% | 110% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 34 | 28 | 32 | 37 | 28 | 28 | 40 | 38 | 25 | 14 | 24 | 33 |
| Inventory Days | 72 | 63 | 93 | 71 | 72 | 107 | 114 | 92 | 81 | 69 | 107 | 102 |
| Days Payable | 77 | 62 | 92 | 97 | 89 | 133 | 153 | 106 | 91 | 70 | 111 | 118 |
| Cash Conversion Cycle | 29 | 28 | 33 | 11 | 11 | 2 | 1 | 25 | 14 | 14 | 21 | 17 |
| Working Capital Days | -14 | -2 | -3 | -7 | -6 | -11 | -24 | -16 | -16 | -8 | -10 | -8 |
| ROCE % | 25% | 24% | 17% | 18% | 18% | 3% | 5% | 13% | 21% | 18% | 5% | 6% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| MTD CNC Machines Sold Number |
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| TMD Active Order Book INR Crores |
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| TMD Machines Sold Number |
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| ATC Order Book INR Crores |
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| Foundry Share of MTD and Foundry Revenue Percentage |
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| TMD Spares as % of TMD Sales Percentage |
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| MTD Capacity Utilization Percentage |
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| TMD Capacity Utilization Percentage |
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| R&D Expenditure (Percentage of Turnover) % |
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Extracted by Screener AI
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - LMW submitted Regulation 74(5) compliance certificate for quarter ended 30 June 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
30 Jun - We are forwarding the copies of the newspaper advertisement published by the Company regarding the Notice of the 63rd Annual General Meeting and E-voting Information.
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A Letter Was Sent To Members Providing A Web Link Including The Exact Path To The Annual Report 2025-26.
30 Jun - LMW scheduled 63rd AGM on 24 July 2026; annual report sent to shareholders.
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Business Responsibility and Sustainability Reporting (BRSR)
29 Jun - LMW filed FY2025-26 BRSR, detailing ESG initiatives, compliance metrics, and three GST penalties appealed.
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Reg. 34 (1) Annual Report.
29 Jun - LMW filed its Annual Report for FY 2025-26 on 29 June 2026.
Annual reports
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Financial Year 2026
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Concalls
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May 2026TranscriptPPT
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Feb 2026TranscriptPPT
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Nov 2025TranscriptPPTREC
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Jul 2025TranscriptPPT
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May 2025TranscriptPPT
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Nov 2024TranscriptPPT
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Oct 2023TranscriptPPT
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May 2023TranscriptPPT
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Feb 2023TranscriptPPT
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Oct 2022TranscriptPPT
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Aug 2022TranscriptPPT
Business Model [1]
Lakshmi Machine Works Limited (LMW) operates a diversified business model spanning multiple industrial sectors, primarily focusing on manufacturing high-quality, precision-engineered products.