Lakshmi Machine Q1 net profit rises 37%

Lakshmi Machine Works (LMW) Limited, a leading textile machinery manufacturer in India, has posted a 37 percent increase in net profit during the first quarter of current fiscal ended June 30. The company’s net profit rose to Rs. 411.4 million with a sound 50 percent increase in its total earnings to Rs. 5.02 billion.

Earnings from the textile machinery business, which accounts for 85 percent of the total revenues, increased to Rs. 4.38 billion, registering a year-on-year growth of 45 percent. Profit from this segment improved by 36 percent to Rs. 423.3 million, which was 89 percent of the total profit.

Operating Profit Margin (OPM) of the company was, however, under pressure and declined by 2.3 percent to 13.9 percent, mainly owing to hike in price of raw material.

Employee cost too declined by 1.8 percent during the quarter to 8.3 percent. While operating profit rose 27 percent to Rs. 708.8 million, it’s Profit Before Interest, Depreciation and Taxes (PBIDT) was up by 23 percent to Rs. 854.5 million.

Being a debt free company, LMW enjoys the benefit of paying nil interest cost.

Read more on Lakshmi Machine Q1 net profit rises 37% @ fibre2fashion

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LMW delivers new ringframe model to Chinese clients

Deputy Chief Minister, M.K. Stalin of Tamil Nadu has recently launched a product of Coimbatore-based Lakshmi Machine Works (LMW) in Shanghai, which had established a textile machinery unit in the southern Jiangsu province of China in September 2009. This was the first South Indian venture in China.

LMW supplied its recently engineered ring frame machine, utilized in yarn manufacturing, to its three Chinese clients.

The $12-million manufacturing unit of LMW located adjacent to Shanghai, is just one of the few Indian companies, which have established such units in China and are looking forward to cater to the requirements of the Chinese market.

Original Source: LMW delivers new ringframe model to Chinese clients @ Fibre2fashion

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Revenues skyrocket at LMW in Q1

Today, the Coimbatore based, Lakshmi Machine Works Ltd (LMW), a reputed and the biggest textile machinery manufacturer in India released its first quarter fiscal 2010-11 results.

In its textile machinery division, revenues have leapfrogged from Rs 1.6 billion in the first quarter of fiscal 2009-10 to Rs 3.02 billion in the quarter under consideration.

In the same way, profit before interest and tax of the textile division, too has jumped from just Rs 19.67 million to Rs 311.94 million in the first quarter of fiscal 2010-11.

Original Source: Fibre2fashion

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