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Lakshmi Machine Works Q3 standalone net profit rises 4.7 per cent

Lakshmi Machine Works’ revenue de-grew by 6.8 per cent yoy to Rs 542cr. EBITDA was Rs65 cr, down by 4.8 per cent yoy. EBITDA margin grew by 25 bps yoy to 11.95 per cent. Adjusted PAT grew by 4.7 per cent yoy to Rs 57 cr. Depreciation and amortization expenses de-grew by 9.6 per cent yoy to Rs 14.16 cr.

Revenue from textile machinery and machinery tool foundry segment contributed Rs 391.08 cr (down 23.1 per cent yoy) and Rs 98.80cr (up 44.9 per cent yoy) respectively.

Lakshmi Machine Works’ is India's largest textile machinery and CNC Machine Tool manufacturers, based in Coimbatore founded by Cavalier G K Devarajulu. It started operations in 1962 in Coimbatore with technical collaboration with Swiss-based textile machinery manufacturer Rieter for textile machines and German based Steel and Ammunition major Krupp. In mid 1980s the company bought over its Coimbatore based longtime rival and much older Textile and engineering giant Textool. The company is promoted and owned by the Lakshmi Mills family. LMW has 60 per cent market share in domestic textile spinning machinery industry.LMW diversified into CNC Machine Tools and is a brand leader in manufacturing customized products.