Highlights of the call are:

• Lakshmi Machine Works (LMW) has reported moderate 7% growth in Net Profit at Rs 49.24 crore over 31% increase in the total income from operations at Rs 581.39 crore for the quarter ended September 11. OPM was under pressure and slipped 230 bps to 15.3% in quarter under review.
• Gross Profit ratio for the quarter has declined to 17.2% from 21% a year ago on the back of surge in commodity cost. The company has undertaken 3-7% price hike in April which was fully observed in the quarter ended September 11.
• For the half year ended September 11, the company has reported 19% increase in Net Profit at Rs 90.38 crore over 39% jump in the total income from operations at Rs 1092.53 crore.
• Export revenues grew 103% to Rs 196.31 crore in the half year ended September 11.
• In Textile Machinery segment, the company has received orders worth of Rs 180 crore and executed Rs 355 crore in quarter under review. The outstanding order book stood at Rs 4660 crore at end of September 11. Similarly, the order book in Machine tools division stood at Rs 58 crore at end of September 11.
• While the company is guiding to repeat H1FY12 performance in H2FY12 in textile machinery division, the machine tools division is witnessing some inventory pile up on the back of slow down in the auto and auto ancillary industry.
• Capex for FY12 stands at Rs 130 crore.