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 ₹ 16,321 Cr.
- Current Price ₹ 15,278
- High / Low ₹ 17,700 / 11,729
- Stock P/E 99.7
- Book Value ₹ 2,781
- Dividend Yield 0.20 %
- ROCE 7.57 %
- ROE 5.60 %
- 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 5.49 times its book value
- Company has a low return on equity of 7.59% 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 | 2,886 | |
| 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: | -3% |
| 5 Years: | 25% |
| 3 Years: | -20% |
| TTM: | 56% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 19% |
| 3 Years: | 10% |
| 1 Year: | -13% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 9% |
| 3 Years: | 8% |
| Last Year: | 6% |
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% | 111% |
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 | 32 |
| ROCE % | 25% | 24% | 17% | 18% | 18% | 3% | 5% | 13% | 21% | 18% | 5% | 8% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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| Captive Wind Power Capacity MW |
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| Foundry Division External Sales Volume Tonnes |
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| Machine Tool Division (MTD) Units Sold Units |
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| Textile Machinery Division (TMD) Units Sold Units |
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| ATC Order Book (Deliverable over 1.5 years) INR Crores |
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| Machine Tool Division (MTD) Capacity Utilization % |
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| MTD Revenue Mix - Machining Centers % |
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| MTD Revenue Mix - Turning Centers % |
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| Textile Machinery Division (TMD) Capacity Utilization % |
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| TMD Order Book INR Crores |
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| TMD Revenue Mix - Export % |
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| TMD Revenue Mix - Spares % |
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| R&D Expenditure (Percentage of Turnover) % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
1d - Please find the attached transcript of the Analyst/ Investor meeting held on 21st May 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 May - LMW shared audio recording link of 21 May 2026 analyst conference call.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
21 May - We enclose herewith the copies of the newspaper advertisement published by the Company regarding the Audited Financial Results for the quarter and year ended 31st …
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Announcement Under Regulation 30(LODR)- Acquisition
20 May - Board approved FY26 audited results, Rs35 dividend, AGM on 24 July 2026, and key reappointments.
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Announcement under Regulation 30 (LODR)-Change in Management
20 May - Board approved FY26 audited results, Rs35 dividend, AGM on 24 Jul 2026, and key director/auditor reappointments.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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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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.