LMW logo

LMW

LMW NSE

Key Fundamentals

SmallcapIndustrial ProductsCapital Goods
Market Cap
₹17,462 Cr
P/E (TTM)
99.91
EBITDA
₹315 Cr
Return on Equity
4.56%
Debt to Equity
0
Book Value
₹2,683.26
EPS (TTM)
₹163.61
52W High
₹20,151.00
52W Low
₹11,920.00

Price-based figures as of 8 Oct 2026, 3:32 pm IST · EPS basis: Consolidated · TTM

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 6.16 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
EBITDA Margin (Avg.)
11.77% higher than 3Y

AI Analysis — Bull vs Bear

Figures as of 6 Oct 2026
AI opinion · based on fundamentals
Risk high

As of the 2026-10-06 close, LMW Ltd traded at Rs 16,910, giving a market cap of Rs 18,064.95 Cr and a trailing P/E of 103.36 on TTM EPS of Rs 163.61. The company is debt-free (debt-to-equity 0), and TTM profit growth of 76% and sales growth of 11% point to a recovery. However, 3-year compounded sales (-12%) and profit (-32%) are still negative, and return ratios are low: ROE 4.56% and ROCE 5.85%. The stock trades at 6.3 times book value, about 16% below its 52-week high of Rs 20,151 and about 42% above its 52-week low of Rs 11,920.

Bull Case 7
  • The balance sheet is debt-free, with a debt-to-equity ratio of 0. That limits financial risk in a cyclical capital goods business and leaves room to invest through a downturn without borrowing.
  • Earnings are recovering. TTM compounded profit growth is 76% and TTM sales growth is 11%, after a weak period of -32% profit CAGR and -12% sales CAGR over 3 years. This suggests the textile machinery cycle may be turning.
  • Longer-term growth has held up despite the recent downturn. The 5-year sales CAGR is 13% and the 5-year profit CAGR is 16%, which shows the business can compound during upcycles.
  • The stock has rewarded long-term shareholders, with price CAGRs of 15% over 5 years, 14% over 10 years and 13% over 1 year.
  • The company keeps paying a steady dividend, with a payout ratio of 27.1%, even while earnings are depressed. This points to consistent capital allocation.
  • Return on equity has been higher in the past, at 9% over both 5 and 10 years versus 4% last year. If profitability goes back to that range, today's TTM earnings base of Rs 163.61 EPS could be well below normalised earnings.
  • At Rs 16,910, the stock trades about 16% below its 52-week high of Rs 20,151. Part of the earlier optimism has already come out of the price.
Bear Case 8
  • The valuation is high in absolute terms, with a trailing P/E of 103.36. That already prices in a sharp and sustained rise in earnings. If the recovery stalls, the multiple has a long way to fall.
  • Return ratios are weak. ROE is 4.56% and ROCE is 5.85%, both likely below the company's cost of capital, and the 3-year average ROE is only about 7%.
  • The stock trades at 6.3 times book value, a rich premium for a business earning a single-digit ROE of 4.56%.
  • A large share of earnings is other income rather than core operations. Other income is Rs 136 Cr, against an implied TTM net profit of roughly Rs 175 Cr (EPS of Rs 163.61 times about 1.07 Cr shares, derived from the market cap and price). That means operating profitability is much thinner than headline EPS suggests.
  • Growth over 3 years has gone backwards, with a sales CAGR of -12% and a profit CAGR of -32%. The textile machinery order cycle has been volatile.
  • The 10-year record is weak. Sales CAGR is only 1% and profit CAGR is -7%, which suggests that over a full cycle the business has not grown earnings structurally.
  • The dividend yield is only 0.21%, so income gives investors very little valuation support or downside cushion.
  • The share price has been volatile, ranging from Rs 11,920 to Rs 20,151 over the past 52 weeks. At Rs 16,910 it is about 42% above the low, and the 3-year stock CAGR is only 5%.

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

AI News Digest

8h ago
Neutral 1
  • Shareholders approve MoA objects amendment Sep 11

    Shareholders approved, by postal ballot, a special resolution to amend the Objects Clause of LMW's Memorandum of Association, with 96.56% voting in favour. The vote shows strong shareholder support, but it is a procedural governance step with no direct financial impact disclosed.

TL;DR: The only recent news for LMW is a routine governance approval: 96.56% of shareholders voted to amend the Objects Clause of the Memorandum of Association. The source tagged it as positive, but it is better seen as neutral because it does not change earnings, orders or margins. Changing the Objects Clause usually lets a company enter new business lines, so it may give LMW room to diversify, but no specific plans have been disclosed. With no news on operations or finances, the trend can't be judged from this news alone. The next things to watch are any new business plans tied to the amendment and LMW's next quarterly results, especially textile machinery orders and capex demand.

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 ₹17,462 Cr as of 8 Oct 2026, which places it in the Mid Cap band.
What is the PE ratio of LMW Ltd?
LMW Ltd trades at a PE ratio of 99.91 as of 8 Oct 2026, on earnings per share of ₹163.61, 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 as of 8 Oct 2026.
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
Shares Outstanding 1,06,83,000

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