For the second quarter net profit of Lakshmi Machine Works rose 20.58 per cent and net sales rose 6.88 per cent. The mid-cap company has an equity capital of Rs 11.27 crores.

Tamil Naud-based Lakshmi Machine Works was founded in 1962 with the aim of providing Indian textile mills with the latest spinning technology. It caters to the domestic market and exports to Asia-Pacific region. It has a 60 per cent market share in the domestic textile spinning machinery industry. It is a global player and one among the three manufacturers of the entire range of textile spinning machinery from blow room to ring spinning including machine tools.

The company has diversified into CNC machine tools and is a brand leader in manufacturing customised products. The foundry makes precision castings for industries the world over. Lakshmi has added an advanced technology center to produce components for the aerospace industry. The company also has a wind energy division.

A subsidiary company manufactures textile spinning machinery, spares and components.

www.lakshmimach.com/