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 ₹ 21,205 Cr.
- Current Price ₹ 19,849
- High / Low ₹ 20,151 / 11,729
- Stock P/E 116
- Book Value ₹ 2,683
- Dividend Yield 0.18 %
- 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 7.40 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.136 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 1000 BSE India Defence BSE Industrials
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 | 3,374 | |
| 2,177 | 2,525 | 2,240 | 2,367 | 2,438 | 1,563 | 1,657 | 2,924 | 4,269 | 4,261 | 2,870 | 3,038 | 3,155 | |
| Operating Profit | 311 | 338 | 259 | 276 | 274 | 11 | 71 | 247 | 450 | 435 | 142 | 170 | 219 |
| OPM % | 12% | 12% | 10% | 10% | 10% | 0.7% | 4.1% | 8% | 10% | 9% | 4.7% | 5% | 6% |
| 91 | 88 | 84 | 103 | 65 | 92 | 56 | 51 | 147 | 143 | 122 | 132 | 136 | |
| 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 | 234 |
| 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 | 175 | |
| 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 | 163.61 |
| 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: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -7% |
| 5 Years: | 16% |
| 3 Years: | -32% |
| TTM: | 76% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 21% |
| 3 Years: | 13% |
| 1 Year: | 31% |
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 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 |
| 0 | 0 | 0 | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 956 | 863 | 808 | 885 | 743 | 686 | 977 | 1,656 | 1,752 | 1,328 | 1,230 | 1,396 | |
| 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 |
| 439 | 464 | 520 | 570 | 699 | 711 | 701 | 721 | 903 | 972 | 990 | 946 | |
| CWIP | 6 | 8 | 6 | 21 | 12 | 30 | 11 | 6 | 24 | 9 | 4 | 1 |
| Investments | 64 | 88 | 61 | 83 | 124 | 136 | 286 | 448 | 508 | 641 | 701 | 706 |
| 1,729 | 1,838 | 1,780 | 1,961 | 1,621 | 1,470 | 1,760 | 2,471 | 2,654 | 2,409 | 2,312 | 2,610 | |
| 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 |
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/OP | 71% | 57% | 88% | 107% | 64% | 926% | 278% | 222% | 94% | 60% | 33% | 143% |
Ratios
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| MTD CNC Machines Sold Number ・Standalone data |
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| TMD Active Order Book INR Crores ・Standalone data |
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| TMD Machines Sold Number ・Standalone data |
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| ATC Order Book INR Crores ・Standalone data |
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| Foundry Share of MTD and Foundry Revenue Percentage ・Standalone data |
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| TMD Spares as % of TMD Sales Percentage ・Standalone data |
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| MTD Capacity Utilization Percentage ・Standalone data |
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| TMD Capacity Utilization Percentage ・Standalone data |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- We enclose copies of the newspaper advertisements for the Postal Ballot/ Electronic Voting(e-voting) published on 12th August 2026 in Business Line(English) and Hindu Tamil (Tamil).
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Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
- LMW seeks shareholder approval via e-voting, Aug 12-Sep 10, 2026, to expand objects into new businesses.
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Announcement under Regulation 30 (LODR)-Credit Rating
- CRISIL assigned LMW a new corporate credit rating of AA with stable outlook on 7 August 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Disclosure under Regulation 30 of SEBI(LODR) Regulations, 2015-Newspaper Advertisement Copies.
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Announcement under Regulation 30 (LODR)-Change in Management
- K Soundhar Rajhan retires July 31, 2026; N Krishna Kumar redesignated President–Strategy Office from August 1, 2026.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Concalls
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Jul 2026TranscriptPPTREC
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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.