LMW logo

LMW

LMW NSE

Key Fundamentals

SmallcapIndustrial ProductsCapital Goods
Market Cap
₹17,783 Cr
Volatility
Moderate
P/E Ratio
101.14
EBITDA
₹315 Cr
Return on Equity
4.56%
Debt to Equity
0
Book Value
₹2,683.26
EPS
₹272.28
52W High
₹20,151
52W Low
₹11,920

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 27.1%

Weaknesses

3
  • Stock is trading at 6.17 times its book value
  • Company has a low return on equity of 7.02% over last 3 years.
  • Earnings include an other income of Rs.136 Cr.

Growth Rate

Revenue Growth
6.91% higher than 3Y
Net Income Growth
27.39% higher than 3Y
Cash Flow Change
511% higher than 3Y
ROE
23.58% higher than 3Y
ROCE
16.07% higher than 3Y
EBITDA Margin (Avg.)
11.77% higher than 3Y

AI Analysis — Bull vs Bear

4d ago
AI opinion · based on fundamentals
Risk high

LMW Ltd (formerly Lakshmi Machine Works) has a market capitalisation of about Rs 18,238 Cr and trades at a P/E of 104.7x and 6.39x book value. Its operating record over several years is weak: 3-year sales CAGR of -12%, 3-year profit CAGR of -32%, and 3-year average ROE of 7%. Trailing-twelve-month figures point to a recovery, with sales up 11% and profit up 76%, and the company is almost debt free.

Bull Case 7
  • TTM profit growth of 76% and TTM sales growth of 11% suggest earnings are recovering from the cyclical downturn in textile machinery demand that drove the 3-year declines.
  • The company is almost debt free. This gives it balance-sheet flexibility to get through capex cycles in the textile industry without leverage risk.
  • Over 5 years, sales grew at a 13% CAGR and profit at a 16% CAGR, which shows the business can grow strongly when the textile capex cycle is favourable.
  • Dividend payout is healthy at 27.1% of profits, which shows management returns cash to shareholders even in a weak earnings phase.
  • Long-term shareholder returns have been steady: 10-year stock CAGR of 15%, 5-year of 16% and 1-year of 17%.
  • Other income of Rs 136 Cr points to a sizeable treasury or investment corpus, which supports financial stability and optionality.
  • 5-year and 10-year average ROE of 9% is above the latest year's 4%. If the cycle normalises, returns could move back toward that historical level.
Bear Case 7
  • The P/E of 104.7x is very high for a cyclical capital goods business and prices in a strong earnings recovery that has not yet been delivered.
  • Price-to-book of 6.39x is hard to justify next to a latest-year ROE of just 4% and a 3-year average ROE of 7.02%.
  • Over 3 years, sales CAGR was -12% and profit CAGR was -32%, a sharp contraction in the core business.
  • Over 10 years, sales grew at only a 1% CAGR and profit fell at a -7% CAGR. The business has created little fundamental growth over a full decade.
  • Earnings include Rs 136 Cr of other income, so a meaningful part of reported profit may come from treasury rather than core operations. That flatters headline profit growth.
  • The dividend yield is only 0.2%, which gives shareholders little income support at current valuations.
  • The 3-year stock CAGR is just 6% even though the stock trades at 104.7x earnings. Returns have been weak through the downcycle, and the valuation leaves little room if the recovery stalls.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Positives 1
  • Shareholders approve MoA objects amendment Sep 11

    LMW shareholders passed a special resolution by postal ballot to amend the Objects Clause of the Memorandum of Association, with 96.56% voting in favour. The strong approval shows broad shareholder backing and lets the company widen its permitted business activities.

Neutral 1
  • NSE assigns independent ESG rating Sep 3

    LMW disclosed on September 3, 2026 that it received an independent ESG rating from NSE Sustainability Ratings & Analytics, based on public domain information. The article does not disclose the rating score, so its impact on the stock is unclear.

TL;DR: Recent news on LMW covers governance only. Shareholders approved the MoA objects amendment with 96.56% in favour, and NSE assigned an independent ESG rating whose score was not disclosed. These articles include no data on orders, margins or earnings, so they don't show whether the business is improving or getting worse. Investors should look for any new business lines LMW pursues under the amended objects clause and for textile machinery demand in upcoming quarterly results.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,191
1,320
1,214
971
673
769
766
804
694
822
758
933
861
Expenses
1,082
1,184
1,097
897
660
737
731
746
680
778
717
863
797
Operating Profit
109
136
117
74
13
32
36
58
14
44
42
70
64
OPM %
9%
10%
10%
8%
2%
4.2%
4.7%
7%
2%
5%
5%
7%
7%
Other Income
36
35
32
40
29
30
33
33
35
41
18
38
39
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
23
24
23
27
26
28
29
29
30
30
30
30
30
PBT
122
147
125
87
16
34
40
61
20
55
30
78
72
Tax %
23%
22%
21%
24%
32%
28%
52%
22%
41%
25%
50%
18%
23%
Net Profit
94
115
99
66
11
24
19
48
11
41
15
64
56
EPS in Rs
87.8
108
92.46
61.76
10.32
22.9
18.07
44.76
10.74
38.3
13.72
59.62
51.97
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,488
2,863
2,499
2,643
2,712
1,574
1,727
3,171
4,719
4,696
3,012
3,207
3,374
Expenses
2,177
2,525
2,240
2,367
2,438
1,563
1,657
2,924
4,269
4,261
2,870
3,038
3,155
Operating Profit
311
338
259
276
274
11
71
247
450
435
142
170
219
OPM %
12%
12%
10%
10%
10%
0.7%
4.1%
8%
10%
9%
4.7%
5%
6%
Other Income
91
88
84
103
65
92
56
51
147
143
122
132
136
Interest
1
1
0
1
1
1
0
0
0
0
0
0
0
Depreciation
100
88
80
76
55
55
56
60
78
96
113
120
121
PBT
301
337
262
302
283
47
71
238
519
482
151
182
234
Tax %
27%
33%
29%
29%
34%
41%
37%
24%
26%
22%
32%
28%
—
Net Profit
220
227
186
215
185
28
45
181
384
374
103
131
175
EPS in Rs
195
202
170
196
174
25.99
41.75
169
359
350
96.05
122
164
Div. Payout %
19%
20%
21%
20%
20%
38%
24%
24%
27%
21%
31%
29%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
11
11
11
11
11
11
11
11
11
11
Reserves
1,271
1,523
1,547
1,736
1,700
1,650
1,770
1,980
2,328
2,693
2,767
2,856
Borrowings
0
0
0
3
3
0
0
0
0
0
0
0
Other Liabilities
956
863
808
885
743
686
977
1,656
1,752
1,328
1,230
1,396
Total Liabilities
2,237
2,397
2,367
2,635
2,457
2,346
2,758
3,646
4,090
4,031
4,008
4,262
Fixed Assets
439
464
520
570
699
711
701
721
903
972
990
946
CWIP
6
8
6
21
12
30
11
6
24
9
4
1
Investments
64
88
61
83
124
136
286
448
508
641
701
706
Other Assets
1,729
1,838
1,780
1,961
1,621
1,470
1,760
2,471
2,654
2,409
2,312
2,610
Total Assets
2,237
2,397
2,367
2,635
2,457
2,346
2,758
3,646
4,090
4,031
4,008
4,262
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
131
81
137
211
99
74
157
485
364
141
29
177
Investing
-54
-64
68
-23
29
-70
-144
-448
-242
-74
73
110
Financing
-40
-52
-195
-44
-215
-49
-11
-11
-43
-105
-80
-32
Net Cash Flow
36
-35
9
144
-88
-45
2
26
79
-39
22
255
Free Cash Flow
15
-32
18
80
-73
-2
136
411
111
-9
-96
120
CFO/OP
71
57
88
107
64
926
278
222
94
60
33
143
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
30
30
28
34
26
25
38
37
18
10
21
32
Inventory Days
78
69
85
78
74
112
120
94
85
76
113
106
Days Payable
81
68
80
97
85
129
150
100
81
65
103
114
Cash Conversion Cycle
28
31
32
15
15
8
7
31
22
21
31
23
Working Capital Days
-15
-8
-3
-10
-5
-10
-23
-16
-16
-7
-9
-11
ROCE %
26%
24%
16%
18%
18%
2%
5%
14%
22%
18%
5%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Promot.30.80%Public27.20%FIIs5.45%DIIs9.51%Others27.04%As ofJun 2026

Documents

Frequently Asked Questions about LMW

What does LMW Ltd do?
Lakshmi Machine Works Ltd is a leading Textile Machinery Manufacturer in India engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings, and parts and components catering to diverse sectors.[1]
Where is LMW Ltd (LMW) listed?
LMW Ltd trades as LMW on the NSE and under code 500252 on the BSE.
Which sector does LMW Ltd belong to?
LMW Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the market capitalisation of LMW Ltd?
LMW Ltd has a market capitalisation of ₹17,783 Cr, which places it in the Mid Cap band.
What is the PE ratio of LMW Ltd?
LMW Ltd trades at a PE ratio of 101.14, on earnings per share of ₹272.28, against a book value of ₹2,683.26 per share.
What is the 52-week high and low of LMW Ltd?
Over the last 52 weeks LMW Ltd has traded between ₹11,920 and ₹20,151.
Does LMW Ltd pay dividends?
LMW Ltd has a dividend yield of 0.21%.
What is the Return on Equity (ROE) of LMW Ltd?
LMW Ltd reported a return on equity of 4.56%. Its debt-to-equity ratio is 0.00.

Company Information

Lakshmi Machine Works Ltd is a leading Textile Machinery Manufacturer in India engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings, and parts and components catering to diverse sectors.[1]

Website lakshmimach.com
Listed 1995-03-29
Face Value ₹ 10
Issued Size 1,06,83,000

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