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 ₹ 18,303 Cr.
- Current Price ₹ 17,133
- High / Low ₹ 20,151 / 11,729
- Stock P/E 100
- Book Value ₹ 2,683
- 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 6.39 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 India Defence BSE Industrials 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 | 3,374 | |
| 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: | 15% |
| 5 Years: | 16% |
| 3 Years: | 6% |
| 1 Year: | 17% |
| 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 / 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 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
- Closure of Trading Window
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
- Members passed special resolution on amending Objects Clause via postal ballot on 11 September 2026.
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Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
- LMW shareholders passed special resolution on 11 September 2026 to amend the Objects Clause.
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Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - ESG Rating
- LMW received an independently assigned ESG rating from NSE Sustainability based on public information.
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Change Of Name Of Wholly Owned Subsidiary Company.
- MCA approved subsidiary name change from LMW Aerospace Industries Limited to LMW Advanced Materials and Technologies Limited.
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 2026Transcript REC
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May 2026Transcript
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Feb 2026Transcript
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Nov 2025Transcript REC
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Jul 2025Transcript
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May 2025Transcript
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Jan 2025Transcript
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Nov 2024Transcript
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Aug 2024Transcript
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May 2024Transcript
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Feb 2024Transcript
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Oct 2023Transcript
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Aug 2023Transcript
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May 2023Transcript
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Feb 2023Transcript
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Oct 2022Transcript
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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.