Sales of Textile Machinery Division segment has gone down 35.37% to Rs 686.05 crore (accounting for 68.13% of total sales). Sales of Machine Tool & Foundry Division segment has gone up 17.80% to Rs 293.94 crore (accounting for 29.19% of total sales). Sales of Advanced Technology Centre segment fell 19.65% to Rs 27.03 crore (accounting for 2.68% of total sales). Inter-segment sales came down from Rs 38.82 crore to Rs 28.73 crore.
Profit before interest, tax and other unallocable items (PBIT) has slumped 37.78% to Rs 67.13 crore. PBIT of Textile Machinery Division segment fell 49.68% to Rs 44.56 crore (accounting for 66.38% of total PBIT). PBIT of Machine Tool & Foundry Division segment rose 39.00% to Rs 23.45 crore (accounting for 34.93% of total PBIT). PBIT of Advanced Technology Centre reported loss of Rs 0.88 crore compared to profit of Rs 2.48 crore.
PBIT margin of Textile Machinery Division segment fell from 8.34% to 6.50%. PBIT margin of Machine Tool & Foundry Division segment rose from 6.76% to 7.98%. PBIT margin of Advanced Technology Centre segment fell from 7.37% to 3.26%. Overall PBIT margin fell from 8.02% to 6.67%.
Operating profit margin has declined from 9.08% to 7.57%, leading to 37.85% decline in operating profit to Rs 73.50 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.86% to 60.39%. Employee cost increased from 7.50% to 10.43%. Other expenses rose from 18.34% to 21.12%.
Other income fell 16.02% to Rs 40.2 crore. PBIDT fell 31.56% to Rs 113.7 crore. Provision for interest remained nil.
PBDT fell 31.56% to Rs 113.7 crore. Provision for depreciation rose 22.27% to Rs 26.57 crore.
Profit before tax down 39.66% to Rs 87.13 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 21.15 crore, compared to Rs 50.3 crore. Effective tax rate was 24.27% compared to 34.83%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 29.89% to Rs 65.98 crore.
Full year results analysis.
Net sales (including other operating income) of Lakshmi Machine Works has declined 0.49% to Rs 4695.86 crore. Operating profit margin has declined from 9.52% to 9.26%, leading to 3.15% decline in operating profit to Rs 434.98 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.30% to 63.11%. Employee cost increased from 7.92% to 8.83%. Other expenses rose from 18.42% to 18.74%.
Other income fell 2.91% to Rs 143.52 crore. PBIDT fell 3.09% to Rs 578.5 crore. Provision for interest remained nil. PBDT fell 3.09% to Rs 578.5 crore. Provision for depreciation rose 23.93% to Rs 96.34 crore. Profit before tax down 7.14% to Rs 482.16 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 108.5 crore, compared to Rs 135.2 crore. Effective tax rate was 22.50% compared to 26.04%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 2.70% to Rs 373.66 crore.
- Sales of Textile Machinery Division segment has gone down 3.91% to Rs 3,675.59 crore (accounting for 75.23% of total sales). Sales of Machine Tool & Foundry Division segment has gone up 6.51% to Rs 1,049.77 crore (accounting for 21.49% of total sales). Sales of Advanced Technology Centre segment rose 44.64% to Rs 160.19 crore (accounting for 3.28% of total sales). Inter-segment sales rose Rs 161.93 crore to Rs 163.34 crore.
- Profit before interest, tax and other unallocable items (PBIT) has slumped 8.60% to Rs 404.37 crore. PBIT of Textile Machinery Division segment fell 16.40% to Rs 315.92 crore (accounting for 78.13% of total PBIT). PBIT of Machine Tool & Foundry Division segment rose 21.62% to Rs 74.42 crore (accounting for 18.40% of total PBIT). PBIT of Advanced Technology Centre segment rose 321.32% to Rs 14.03 crore (accounting for 3.47% of total PBIT).
- PBIT margin of Textile Machinery Division segment fell from 9.88% to 8.60%. PBIT margin of Machine Tool & Foundry Division segment rose from 6.21% to 7.09%. PBIT margin of Advanced Technology Centre segment rose from 3.01% to 8.76%. Overall PBIT margin fell from 8.99% to 8.28%.
Others
Equity capital stood at Rs 10.68 crore as of 31 March 2024 to Rs 10.68 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
The Board has recommended a Final Dividend of Rs .75 per share (of the face value of Rs.10 each) for the year 2023-24 subject to the approval of the
shareholders in Annual General Meeting.
Promoters’ stake was 31.13% as of 31 March 2024 ,compared to 31.13% as of 31 March 2023 .
Loan funds remained nil. Inventories declined from Rs 701.80 crore as of 31 March 2023 to Rs 619.61 crore as of 31 March 2024. Sundry debtors were lower at Rs 129.65 crore as of 31 March 2024 compared to Rs 232.56 crore as of 31 March 2023. Cash and bank balance rose to Rs 954.75 crore as of 31 March 2024 from Rs 761.38 crore as of 31 March 2023. Investments rose to Rs 641.32 crore as of 31 March 2024 from Rs 508.36 crore as of 31 March 2023 . Fixed assets increased to Rs 967.36 crore as of 31 March 2024 from Rs 911.82 crore as of 31 March 2023. Intangible assets declined from Rs 15.40 crore to Rs 14.09 crore.
Cash flow from operating activities decreased to Rs 140.58 crore for year ended March 2024 from Rs 364.14 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 151.13 crore, compared to Rs 278.11 crore during the year ended March 2023.