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 ₹ 15,501 Cr.
- Current Price ₹ 14,510
- High / Low ₹ 18,250 / 13,450
- Stock P/E 98.5
- Book Value ₹ 2,744
- Dividend Yield 0.21 %
- ROCE 4.58 %
- ROE 3.80 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 21.7%
Cons
- Stock is trading at 5.29 times its book value
- Company has a low return on equity of 10.5% over last 3 years.
- Earnings include an other income of Rs.125 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,242 | 2,385 | 2,753 | 2,213 | 2,559 | 2,636 | 1,570 | 1,690 | 3,072 | 4,533 | 4,597 | 2,909 | 3,017 | |
| 1,984 | 2,096 | 2,434 | 1,958 | 2,292 | 2,367 | 1,547 | 1,621 | 2,842 | 4,130 | 4,167 | 2,769 | 2,829 | |
| Operating Profit | 258 | 288 | 319 | 256 | 266 | 269 | 24 | 69 | 229 | 404 | 430 | 141 | 188 |
| OPM % | 12% | 12% | 12% | 12% | 10% | 10% | 2% | 4% | 7% | 9% | 9% | 5% | 6% |
| 107 | 97 | 93 | 86 | 104 | 69 | 92 | 57 | 64 | 155 | 142 | 253 | 125 | |
| Interest | 2 | 1 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 103 | 96 | 83 | 75 | 71 | 50 | 50 | 52 | 56 | 73 | 92 | 107 | 114 |
| Profit before tax | 261 | 288 | 328 | 266 | 299 | 287 | 64 | 74 | 237 | 485 | 480 | 287 | 199 |
| Tax % | 30% | 28% | 33% | 28% | 29% | 34% | 30% | 36% | 24% | 28% | 23% | 17% | |
| 184 | 207 | 220 | 191 | 211 | 189 | 45 | 47 | 180 | 350 | 371 | 238 | 149 | |
| EPS in Rs | 163.04 | 184.13 | 195.38 | 173.98 | 192.98 | 177.18 | 42.12 | 44.43 | 168.19 | 327.82 | 347.64 | 223.01 | 139.17 |
| Dividend Payout % | 18% | 20% | 20% | 20% | 21% | 20% | 24% | 22% | 24% | 30% | 22% | 13% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 13% |
| 3 Years: | -2% |
| TTM: | -2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -7% |
| 5 Years: | 22% |
| 3 Years: | -17% |
| TTM: | 13% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 22% |
| 3 Years: | 10% |
| 1 Year: | -4% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 9% |
| 3 Years: | 11% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 1,093 | 1,249 | 1,492 | 1,527 | 1,711 | 1,680 | 1,646 | 1,770 | 1,975 | 2,289 | 2,652 | 2,861 | 2,920 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 918 | 911 | 805 | 774 | 832 | 736 | 685 | 962 | 1,637 | 1,764 | 1,322 | 1,205 | 1,338 | |
| Total Liabilities | 2,023 | 2,172 | 2,308 | 2,312 | 2,554 | 2,427 | 2,342 | 2,742 | 3,622 | 4,064 | 3,984 | 4,077 | 4,269 |
| 383 | 374 | 401 | 462 | 515 | 648 | 664 | 659 | 681 | 863 | 930 | 951 | 930 | |
| CWIP | 3 | 3 | 8 | 3 | 21 | 12 | 30 | 11 | 5 | 23 | 9 | 4 | 10 |
| Investments | 129 | 129 | 153 | 126 | 148 | 189 | 201 | 351 | 521 | 581 | 706 | 901 | 1,095 |
| 1,508 | 1,666 | 1,747 | 1,720 | 1,869 | 1,577 | 1,447 | 1,722 | 2,414 | 2,598 | 2,339 | 2,221 | 2,234 | |
| Total Assets | 2,023 | 2,172 | 2,308 | 2,312 | 2,554 | 2,427 | 2,342 | 2,742 | 3,622 | 4,064 | 3,984 | 4,077 | 4,269 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 125 | 103 | 100 | 132 | 165 | 125 | 86 | 156 | 477 | 324 | 140 | 26 | |
| -94 | -41 | -66 | 68 | -20 | 30 | -70 | -144 | -445 | -245 | -61 | 68 | |
| -27 | -40 | -52 | -195 | -47 | -215 | -45 | -11 | -11 | -43 | -105 | -80 | |
| Net Cash Flow | 3 | 22 | -18 | 5 | 98 | -61 | -29 | 1 | 21 | 36 | -26 | 14 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 30 | 34 | 28 | 32 | 37 | 28 | 28 | 40 | 38 | 25 | 14 | 24 |
| Inventory Days | 73 | 72 | 63 | 93 | 71 | 72 | 107 | 114 | 92 | 81 | 69 | 107 |
| Days Payable | 76 | 77 | 62 | 92 | 97 | 89 | 133 | 153 | 106 | 91 | 70 | 111 |
| Cash Conversion Cycle | 27 | 29 | 28 | 33 | 11 | 11 | 2 | 1 | 25 | 14 | 14 | 21 |
| Working Capital Days | -14 | -14 | -2 | -3 | -7 | -6 | -11 | -24 | -16 | -16 | -8 | -10 |
| ROCE % | 24% | 25% | 24% | 17% | 18% | 18% | 3% | 5% | 13% | 21% | 18% | 5% |
Documents
Announcements
- Unaudited Financial Results For The Quarter And Period Ended 31St December 2025. 11h
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Board Meeting Outcome for The Meeting Held On 28Th January 2026.
11h - Board approved Q3 FY26 results (31-Dec-2025); standalone revenue Rs766.75cr, net profit Rs29.94cr; limited review.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Jan
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Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - ESG Rating
9 Jan - LMW received an ESG rating from NSE Sustainability; not engaged, rating based on public-domain data, announced 9 Jan 2026.
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Board Meeting Intimation for Consideration Of Unaudited Financial Results Of The Company For The Quarter And Period Ended 31St December 2025.
7 Jan - Board meeting 28 Jan 2026 to approve unaudited results for quarter ended 31 Dec 2025; trading window closed Jan 1–30.
Annual reports
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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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Financial Year 2011
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Concalls
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Nov 2025TranscriptPPTREC
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Jul 2025TranscriptPPT
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May 2025TranscriptPPT
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Jan 2025TranscriptPPT
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Nov 2024TranscriptPPT
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Aug 2024TranscriptPPT
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May 2024TranscriptPPT
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Feb 2024TranscriptPPT
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Oct 2023TranscriptPPT
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Aug 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.