Complying with government directives for COVID-19, Lakshmi Machine Works has stopped operations in textile machinery division (TMD) and machine tools division (MTD) May 24, 2021. Lakshmi Machine Works is one amongst world’s leading three textile machinery manufacturers that produce the entire range of spinning machines. The company caters to both the domestic as well as exports markets. It also manufacturers CNC machine tools and precision castings for industries world over. It recently added the advanced technology centre to manufacture components for the aerospace industry.

In the third quarter of FY21, Lakshmi Machine Work’s consolidated net profit zoomed to Rs 33.26 crore from Rs 3.26 crore in Q3 FY20. Its net sales rose by 49.4 per cent to Rs 478.56 crore. In 2020, Lakshmi Machine Works was awarded as the Most Innovative Company of the Year at the CII Industrial Innovation Awards. Instituted by CII, the awards recognize innovative Indian enterprises across sectors.