LMW diversified into CNC Machine Tools and is a brand leader in manufacturing customised products.

LMW Foundry makes Precision Castings for industries world over.

LMW has also added the Advanced Technology Centre to produce components for Aerospace Industry.

March 2018 quarter results

For the quarter ended March 2018, it registered a 10% rise in sales to Rs 747.30 crore.

OPM improved 40 basis points to 8.9% which saw OP rise 16% to Rs 66.51 crore.

Other income fell 36% to Rs 34.00 crore and interest cost rose 104% to Rs 11 lakh.

As depreciation fell 35% to Rs 15.61 crore, PBT fell 2% to Rs 84.79 crore.

EO due to VRS was Rs 3.34 crore against Rs 22 lakh. Thus PBT after EO fell 6% to Rs 81.45 crore.

Tax grew 11% to Rs 20.22 crore, after which PAT fell 10% to Rs 61.23 crore.

FY 2018 months results

For FY 2018, it registered a 5% rise in sales to Rs 2558.90 crore.

OPM fell 10 basis points to 10.4% which saw OP rise 4% to Rs 266.33 crore.

Other income grew 20% to Rs 108.28 crore and interest cost rose 77% to Rs 67 lakh.

As depreciation went down 5% to Rs 70.80 crore, PBT grew 12% to Rs 303.15 crore.

EO due to VRS was Rs 4.03 crore against Rs 4.70 crore. Thus PBT after EO grew 12% to Rs 299.12 crore.

Tax grew 16% to Rs 87.70 crore, after which PAT grew 11% to Rs 211.42 crore.

Segment results

During the quarter sales from Textile Machinery Division fell 5% to Rs 555.65 crore and accounted for 78% of sales. PBIT fell 5% to Rs 43.74 crore and accounted for 63% of total.

During the quarter sales from Machine Tool and Foundry Division rose 38% to Rs 152.99 crore and accounted for 21% of sales. PBIT grew 44% to Rs 25.26 crore and accounted for 37% of total.

During the quarter sales from Advanced Technology Center Division fell 18% to Rs 8.23 crore and accounted for 1% of sales. It reported a loss Rs 1 lakh against a profit of Rs 3.26 crore at PBIT level and accounted for 0% of total.

In FY 2018 sales from Textile Machinery Division fell 2% to Rs 2005.13 crore and accounted for 77% of sales. PBIT rose 6% to Rs 166.90 crore and accounted for 68% of total.

In FY 2018 sales from Machine Tools and Foundry Division rose 42% to Rs 542.28 crore and accounted for 21% of sales. PBIT grew 53% to Rs 77.08 crore and accounted for 32% of total.

In FY 2018 sales from Advanced Technology Center Division jumped 58% to Rs 42.62 crore and accounted for 2% of sales. It reported a profit Rs 39 lakh against Rs 9 lakh at PBIT level and accounted for 0% of total.

Consolidated results

On consolidated basis, for FY 2018 sales grew 6% to Rs 2642.97 crore and PAT grew 15% to Rs 214.64 crore.

A worldwide reputed company

LMW has been consistently at the forefront of technological advancements in textile machinery. Over a period of time, the company has gained a worldwide reputation for its state-of-the-art technology and high quality standards. LMW has a major role as a totally integrated spinning system manufacturer.

Spinning machines from LMW contributes to a large extent in keeping Indian production costs down and quality standards up.

Continuous upgradation of manufacturing technology and the ability to provide complete range of contemporary textile machinery at a competitive price makes LMW a natural partner of choice.

Valuation

The stock trades at Rs 8265.