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Results
26-Jul-22
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Analysis
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Lakshmi Machine Works
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Strong show
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Consolidated net sales (including other operating income) of Lakshmi
Machine Works for the quarter ended Jun 2022 has increased 115% to Rs 982.63
crore. Execution of brimming order book in textile machinery and foundry facilitated
strong revenue growth on weak base for the company. Operating profit margin has
jumped from 1.6% to 8.7%, leading to 1,094% rise in operating profit to Rs
85.71 crore.
Raw material cost as a % of total sales (net of stock adjustments)
increased from 62.47% to 64.00%. Employee cost decreased from
14.12% to 8.89%. Other expenses fell from 21.89% to 18.63%.
Other income rose 37.16% to Rs 24.88
crore. PBIDT rose 336.77% to Rs 110.59 crore. Provision
for interest remained nil. PBDT rose 336.77% to Rs 110.59
crore. Provision for depreciation rose 14.79% to Rs 16.45
crore. Profit before tax grew 756.60% to Rs 94.14 crore. EO
was nil against an expense of Rs 17.17 crore. Thus PBT after EO was a profit of
Rs 94.14 crore against a loss of Rs 6.18 crore. Provision for tax was expense
of Rs 21.52 crore, compared to Rs 3.4 crore. Thus the PAT was a
profit of Rs 72.62 crore against a loss of Rs 9.58 crore.
Share of profit/loss were nil in both the periods. Minority
interest was nil in both the periods.
- Sales of Textile Machinery Division segment has gone up 137.55% to Rs
779.29 crore (accounting for 75.61% of total sales). Sales of
Machine Tool & Foundry Division segment has gone up 71.12% to Rs 231.09
crore (accounting for 22.42% of total sales). Sales of Advanced
Technology Centre segment rose 150.00% to Rs 20.36 crore (accounting for 1.97%
of total sales). Inter-segment sales rose Rs 11.90 crore to Rs 37.02
crore.
- PBIT of Textile Machinery Division
reported profit of Rs 72.08 crore compared to loss of Rs 11.63
crore. PBIT of Machine Tool & Foundry Division segment rose
56.46% to Rs 13.32 crore (accounting for 15.46% of total PBIT). PBIT
of Advanced Technology Centre reported profit of Rs 0.78 crore compared to loss
of Rs 6.49 crore.
- PBIT margin of Textile Machinery
Division segment rose from negative 3.55% to 9.25%. PBIT margin of
Machine Tool & Foundry Division segment fell from 6.31% to
5.77%. PBIT margin of Advanced Technology Centre segment rose from
negative 79.69% to 3.81%. Overall PBIT margin rose from 2.04% to
8.36%.
Promoters’ stake was 31.13% as of 30
June 2022, compared to 31.13% as of 30 June 2021.
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Lakshmi
Machine Works: Consolidated Results
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2206
(3)
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2106
(3)
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Var.(%)
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2203
(12)
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2103
(12)
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Var.(%)
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Sales
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982.63
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457.62
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115
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3170.95
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1727.38
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84
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OPM (%)
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8.7
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1.6
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7.8
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4.1
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OP
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85.71
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7.18
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1094
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246.96
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70.43
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251
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Other
inc.
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24.88
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18.14
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37
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68.34
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78.73
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-13
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PBIDT
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110.59
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25.32
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337
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315.30
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149.16
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111
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Interest
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0.00
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0.00
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0.09
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0.08
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5
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PBDT
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110.59
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25.32
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337
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315.21
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149.08
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111
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Dep.
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16.45
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14.33
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15
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59.72
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55.63
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7
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PBT
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94.14
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10.99
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757
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255.49
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93.45
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173
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EO
Income
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0.00
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-17.17
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-100
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-17.17
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-22.12
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-22
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PBT
after EO
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94.14
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-6.18
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LP
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238.32
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71.33
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234
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Current
Tax
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21.52
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3.40
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533
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57.27
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26.74
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114
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PAT
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72.62
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-9.58
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LP
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181.05
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44.60
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306
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EPS
(Rs)*
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#
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#
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181.7
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54.7
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^ EPS
is on current equity of Rs 10.6830 crore, Face value of Rs 10
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# EPS
is not annualised due to seasonality of business
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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LMW :
Consolidated Segment Results
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Sales
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% to
total
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2206
(3)
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2106
(3)
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Var.
(%)
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% to
total
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2203
(12)
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2103
(12)
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Var.
(%)
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Textile
Machinery Division
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76
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779.29
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328.05
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138
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74
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2403.32
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1223.62
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96
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Machine
Tools & Foundry Division
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22
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231.09
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135.04
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71
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25
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811.29
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526.92
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54
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Advanced
Technology Centre
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2
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20.36
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8.14
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150
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1
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48.29
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28.88
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67
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Total
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100
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1030.73
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471.23
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119
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100
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3262.90
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1779.41
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83
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Less
Inter segment revenue
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37.02
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11.90
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83.27
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41.33
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Net
sales
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993.71
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459.33
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116
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3179.63
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1738.08
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83
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PBIT
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Textile
Machinery Division
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84
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72.08
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-11.63
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-720
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72
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144.21
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13.99
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931
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Machine
Tools & Foundry Division
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15
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13.32
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8.52
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56
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37
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73.39
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36.37
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102
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Advanced
Technology Centre
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1
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0.78
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-6.49
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-112
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-9
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-18.57
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-25.87
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-28
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PBT
before tax and interest
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100
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86.18
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-9.61
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-997
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100
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199.03
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24.49
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713
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Add:
Other unallocable income
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7.97
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3.43
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132
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39.29
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46.84
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-16
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PBT
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94.14
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-6.18
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-1624
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238.32
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71.33
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234
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Figures
in Rs crore
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Var.
(%) exceeding 999 has been truncated to 999
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LP:
Loss to Profit; PL: Profit to Loss
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Segment Margin
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2206
(3)
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2106
(3)
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Change
(in bps)
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2203
(12)
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2103
(12)
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Var.
(%)
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Textile
Machinery Division
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9.2
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-3.5
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1280
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6.0
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1.1
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486
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Machine
Tools & Foundry Division
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5.8
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6.3
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-54
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9.0
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6.9
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214
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Advanced
Technology Centre
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3.8
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-79.7
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8350
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-38.4
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-89.6
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5113
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| Lakshmi Machine Works : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 982.63 | 457.62 | 114.73 | 3,170.95 | 1,727.38 | 83.57 | | OPM (%) | 8.72 | 1.57 | 715 bps | 7.79 | 4.08 | 371 bps | | OP | 85.71 | 7.18 | 1,093.73 | 246.96 | 70.44 | 250.60 | | Other Inc. | 24.88 | 18.14 | 37.16 | 68.34 | 78.73 | -13.20 | | PBIDT | 110.59 | 25.32 | 336.77 | 315.30 | 149.17 | 111.37 | | Interest | 0 | 0 | - | 0.09 | 0.08 | 12.50 | | PBDT | 110.59 | 25.32 | 336.77 | 315.21 | 149.09 | 111.42 | | Depreciation | 16.45 | 14.33 | 14.79 | 59.72 | 55.63 | 7.35 | | PBT | 94.14 | 10.99 | 756.60 | 255.49 | 93.46 | 173.37 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 94.14 | 10.99 | 756.60 | 255.49 | 93.46 | 173.37 | | EO Income | 0 | -17.17 | - | -17.17 | -22.12 | 22.38 | | PBT after EO | 94.14 | -6.18 | LP | 238.32 | 71.34 | 234.06 | | Taxation | 21.52 | 3.4 | 532.94 | 57.27 | 26.74 | 114.17 | | PAT | 72.62 | -9.58 | LP | 181.05 | 44.6 | 305.94 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 72.62 | -9.58 | LP | 181.05 | 44.6 | 305.94 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 72.62 | -9.58 | LP | 181.05 | 44.6 | 305.94 | | EPS (Rs)* | 67.98 | 7.10 | 856.79 | 181.68 | 54.69 | 232.23 | | | * EPS is on current equity of Rs 10.68 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Lakshmi Machine Works : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Textile Machinery Division | 75.61 | 779.29 | 328.05 | 137.55 | 73.66 | 2,403.32 | 1,223.62 | 96.41 | | Machine Tool & Foundry Division | 22.42 | 231.09 | 135.04 | 71.12 | 24.86 | 811.29 | 526.92 | 53.97 | | Advanced Technology Centre | 1.97 | 20.36 | 8.14 | 150.00 | 1.48 | 48.29 | 28.88 | 67.22 | | Total Reported Sales | 100.00 | 1,030.73 | 471.23 | 118.73 | 100.00 | 3,262.90 | 1,779.41 | 83.37 | | Less: Inter segment revenues | | 37.02 | 11.90 | 211.19 | | 83.27 | 41.33 | 101.46 | | Net Sales | 100.00 | 993.71 | 459.33 | 116.34 | 100.00 | 3,179.63 | 1,738.08 | 82.94 | | PBIT | | Textile Machinery Division | 83.64 | 72.08 | -11.63 | LP | 72.46 | 144.21 | 13.99 | 930.88 | | Machine Tool & Foundry Division | 15.46 | 13.32 | 8.52 | 56.46 | 36.87 | 73.39 | 36.37 | 101.76 | | Advanced Technology Centre | 0.90 | 0.78 | -6.49 | LP | -9.33 | -18.57 | -25.87 | 28.23 | | Total PBIT | 100.00 | 86.18 | -9.61 | LP | 100.00 | 199.03 | 24.49 | 712.59 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 7.97 | 3.43 | 132.34 | | 39.29 | 46.84 | -16.13 | | PBIT Margin(%) | | Textile Machinery Division | | 9.25 | -3.55 | 1,279.55 | | 6.00 | 1.14 | 485.73 | | Machine Tool & Foundry Division | | 5.77 | 6.31 | -54.03 | | 9.05 | 6.90 | 214.28 | | Advanced Technology Centre | | 3.81 | -79.69 | 8,350.47 | | -38.45 | -89.57 | 5,112.83 | | PBT | 100.00 | 94.14 | -6.18 | LP | 100.00 | 238.32 | 71.33 | 234.09 |
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