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 ₹ 18,573 Cr.
- Current Price ₹ 17,358
- High / Low ₹ 20,151 / 11,729
- Stock P/E 87.1
- Book Value ₹ 2,845
- Dividend Yield 0.20 %
- ROCE 5.58 %
- ROE 4.05 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 27.1%
Cons
- Stock is trading at 6.11 times its book value
- Company has a low return on equity of 7.02% 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 India Defence BSE 1000
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,488 | 2,863 | 2,499 | 2,643 | 2,712 | 1,574 | 1,727 | 3,171 | 4,719 | 4,696 | 3,012 | 3,207 | 3,684 | |
| Sales growth | +6% | +15% | -13% | +6% | +3% | -42% | +10% | +84% | +49% | -0% | -36% | +6% | +19% |
| 2,177 | 2,525 | 2,240 | 2,367 | 2,438 | 1,563 | 1,657 | 2,924 | 4,269 | 4,261 | 2,870 | 3,038 | 3,407 | |
| Operating Profit | 311 | 338 | 259 | 276 | 274 | 11 | 71 | 247 | 450 | 435 | 142 | 170 | 277 |
| OPM % | 12% | 12% | 10% | 10% | 10% | 0.7% | 4.1% | 8% | 10% | 9% | 4.7% | 5% | 8% |
| 91 | 88 | 84 | 103 | 65 | 92 | 56 | 51 | 147 | 143 | 122 | 132 | 126 | |
| Interest | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | -0 | -0 | -0 | -0 | 0 |
| Depreciation | 100 | 88 | 80 | 76 | 55 | 55 | 56 | 60 | 78 | 96 | 113 | 120 | 121 |
| Profit before tax | 301 | 337 | 262 | 302 | 283 | 47 | 71 | 238 | 519 | 482 | 151 | 182 | 282 |
| Tax % | 27% | 33% | 29% | 29% | 34% | 41% | 37% | 24% | 26% | 22% | 32% | 28% | |
| 220 | 227 | 186 | 215 | 185 | 28 | 45 | 181 | 384 | 374 | 103 | 131 | 205 | |
| EPS in Rs | 194.97 | 201.78 | 170.15 | 195.92 | 173.53 | 25.99 | 41.75 | 169.47 | 359.47 | 349.77 | 96.05 | 122.37 | 191.99 |
| Dividend Payout % | 19% | 20% | 21% | 20% | 20% | 38% | 24% | 24% | 27% | 21% | 31% | 29% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 13% |
| 3 Years: | -12% |
| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -7% |
| 5 Years: | 16% |
| 3 Years: | -32% |
| TTM: | 77% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 14% |
| 3 Years: | 10% |
| 1 Year: | 10% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 9% |
| 3 Years: | 7% |
| Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 1,271 | 1,523 | 1,547 | 1,736 | 1,700 | 1,650 | 1,770 | 1,980 | 2,328 | 2,693 | 2,767 | 2,856 | 3,029 |
| -0 | -0 | -0 | 3 | 3 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | |
| 956 | 863 | 808 | 885 | 743 | 686 | 977 | 1,656 | 1,752 | 1,328 | 1,230 | 1,396 | 1,868 | |
| Total Liabilities | 2,237 | 2,397 | 2,367 | 2,635 | 2,457 | 2,346 | 2,758 | 3,646 | 4,090 | 4,031 | 4,008 | 4,262 | 4,907 |
| 439 | 464 | 520 | 570 | 699 | 711 | 701 | 721 | 903 | 972 | 990 | 946 | 926 | |
| CWIP | 6 | 8 | 6 | 21 | 12 | 30 | 11 | 6 | 24 | 9 | 4 | 1 | 6 |
| Investments | 64 | 88 | 61 | 83 | 124 | 136 | 286 | 448 | 508 | 641 | 701 | 706 | 855 |
| 1,729 | 1,838 | 1,780 | 1,961 | 1,621 | 1,470 | 1,760 | 2,471 | 2,654 | 2,409 | 2,312 | 2,610 | 3,121 | |
| Total Assets | 2,237 | 2,397 | 2,367 | 2,635 | 2,457 | 2,346 | 2,758 | 3,646 | 4,090 | 4,031 | 4,008 | 4,262 | 4,907 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 131 | 81 | 137 | 211 | 99 | 74 | 157 | 485 | 364 | 141 | 29 | 177 | |
| -54 | -64 | 68 | -23 | 29 | -70 | -144 | -448 | -242 | -74 | 73 | 110 | |
| -40 | -52 | -195 | -44 | -215 | -49 | -11 | -11 | -43 | -105 | -80 | -32 | |
| Net Cash Flow | 36 | -35 | 9 | 144 | -88 | -45 | 2 | 26 | 79 | -39 | 22 | 255 |
| Free Cash Flow | 15 | -32 | 18 | 80 | -73 | -2 | 136 | 411 | 111 | -9 | -96 | 120 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 71% | 57% | 88% | 107% | 64% | 926% | 278% | 222% | 94% | 60% | 33% | 143% |
Ratios
Consolidated / View Standalone
| 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 | 30 | 30 | 28 | 34 | 26 | 25 | 38 | 37 | 18 | 10 | 21 | 32 |
| Inventory Days | 78 | 69 | 85 | 78 | 74 | 112 | 120 | 94 | 85 | 76 | 113 | 106 |
| Days Payable | 81 | 68 | 80 | 97 | 85 | 129 | 150 | 100 | 81 | 65 | 103 | 114 |
| Cash Conversion Cycle | 28 | 31 | 32 | 15 | 15 | 8 | 7 | 31 | 22 | 21 | 31 | 23 |
| Working Capital Days | -15 | -8 | -3 | -10 | -5 | -10 | -23 | -16 | -16 | -7 | -9 | -11 |
| ROCE % | 26% | 24% | 16% | 18% | 18% | 2% | 5% | 14% | 22% | 18% | 5% | 6% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| MTD CNC Machines Sold Number ・Standalone data |
|
||||||
| TMD Machines Sold Number ・Standalone data |
|||||||
| TMD Active Order Book INR Crores ・Standalone data |
|||||||
| ATC Order Book INR Crores ・Standalone data |
|||||||
| Foundry Share of MTD and Foundry Revenue Percentage ・Standalone data |
|||||||
| TMD Spares as % of TMD Sales Percentage ・Standalone data |
|||||||
| MTD Capacity Utilization Percentage ・Standalone data |
|||||||
| TMD Capacity Utilization Percentage ・Standalone data |
|||||||
| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
|||||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Please find attached the Transcript of the Analyst/ Investor Meeting held on 22nd October 2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of analyst conference call held on 22 October 2026 uploaded online.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- We enclose herewith copies of the newspaper advertisements published by the Company regarding the Unaudited Financial Results for the Quarter and Period ended 30th September …
-
Announcement under Regulation 30 (LODR)-Change in Directorate
- Board approved Q2 FY27 results, new Machine Tool Division Unit III, and Independent Director retirement effective 25 Oct 2026.
-
Intimation Under Regulation 30 Of The SEBI(LODR) Regulations, 2015 -Capacity Addition
- Board approved Q2 FY2026-27 results, new Machine Tool Division Unit III, and Arun Alagappan's retirement on 25 October 2026.
Annual reports
-
Annual Report 2026
from bse
-
Annual Report 2025
from bse
-
Annual Report 2024
from bse
-
Annual Report 2023
from bse
-
Annual Report 2022
from bse
-
Annual Report 2021
from bse
-
Annual Report 2020
from bse
-
Annual Report 2019
from bse
-
Annual Report 2018
from bse
-
Annual Report 2017
from bse
-
Annual Report 2016
from bse
-
Annual Report 2015
from bse
-
Annual Report 2014
from bse
-
Annual Report 2013
from bse
-
Annual Report 2012
from bse
Concalls
-
Oct 2026Transcript REC
-
Jul 2026Transcript REC
-
May 2026Transcript
-
Feb 2026Transcript
-
Nov 2025Transcript REC
-
Jul 2025Transcript
-
May 2025Transcript
-
Jan 2025Transcript
-
Nov 2024Transcript
-
Aug 2024Transcript
-
May 2024Transcript
-
Feb 2024Transcript
-
Oct 2023Transcript
-
Aug 2023Transcript
-
May 2023Transcript
-
Feb 2023Transcript
-
Oct 2022Transcript
-
Aug 2022Transcript
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.