Lakshmi Machine Works: LMW

• Coimbatore (Tamilnadu) based textile machinery manufacturer. Also into machine tools and foundry.
• Commands 60% of domestic textile spinning machinery.
• With CNC machine tools, LMW is a leader in customized products.
• Introduces 10 new machines last year.
• Debt free in since FY 2005.
• Cash balance is Rs.769.4 Crores which is 38.4% of market cap @ Rs.2004 Cr.
• Since domestic textile industry is experiencing difficult times, LMW's turnover declined 14%, while its profits declined 19.1%. Wild fluctuation in profit over last 10 years is a major concern.