LMW Ltd.

•

lmwglobal.com / www.lakshmimach.comBSE: 500252NSE: LMW

Market Cap₹ 19,833 Cr.

Current Price

High / Low₹ 20,151 / 11,920

Stock P/E101.5

Book Value₹ 2,843

Price to Book4.29

Dividend Yield0.19 %

ROCE7.1 %

ROE5.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Textile Machinery Dvision: 56.0% • Machine Tool & Foundry Division: 38.3% • Advanced Technology Centre: 5.7%

AI Sector View

AI GENERATED

Textiles

Hold

This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.

Confidence

50%

View full sector analysis →

PROS

Company has delivered good profit growth of 26.5% CAGR over last 5 years
Company is almost debt free
Latest quarter profit grew 169.8% YoY, showing strong momentum
Company has a consistent dividend-paying track record
Working capital cycle has improved - days down from 197 to 152
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (68.0% of PBT)
Receivables are growing faster than sales - a possible quality concern
Interest coverage is weak at 0.0x - earnings barely cover interest
Company has a low return on equity of 9.6% over last 3 years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.42x)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

TextilesTextileTextile - Machinery

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LMW	18565.15	113.47	19833.15	0.19	55.52	384.05	860.72	24.00	6.44	7.39
2.	LCL	555.55	30.35	5869.39	0.32	662.61	—	5030.22	—	44.59	19.92
3.	INDIANCARD	218.81	21.71	130.00	0.00	4.56	98.95	9.78	1.35	33.18	-31.02

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,174	1,305	1,166	952	659	751	711	789	685	776	767	854	853
	1,066	1,168	1,052	880	646	715	678	732	660	728	710	789	806
Operating Profit	109	137	114	72	13	35	33	57	26	49	57	65	47
OPM %	9.24%	10.48%	9.78%	7.54%	2.02%	4.72%	4.58%	7.21%	3.75%	6.25%	7.43%	7.58%	5.49%
	35	34	32	40	29	30	163	34	35	39	17	35	41
Interest	0	0	1	0	0	0	0	0	0	0	0	0	0
Depreciation	22	23	22	25	25	27	27	28	28	29	29	29	28
Profit before Tax	122	149	123	86	18	38	168	63	33	59	45	71	83
Tax %	23.46%	21.71%	21.52%	24.51%	28.87%	24.74%	12.21%	21.62%	24.78%	23.67%	33.17%	23.86%	20.08%
Net Profit	93	116	97	65	12	29	148	49	24	45	30	54	66
	87.26	108.93	90.46	60.98	11.69	26.91	138.43	45.98	22.91	42.25	28.03	50.89	61.79

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,213	2,497	2,636	1,570	1,690	3,072	4,533	4,597	2,909	3,082	3,250
	1,958	2,231	2,367	1,547	1,624	2,843	4,130	4,167	2,777	2,888	3,033
Operating Profit	256	266	268	24	65	229	403	430	133	194	217
OPM %	11.55%	10.65%	10.18%	1.50%	3.87%	7.46%	8.89%	9.35%	4.57%	6.30%	6.68%
	86	105	69	92	60	64	156	142	261	128	132
Interest	0	1	1	0	0	0	0	0	0	0	0
Depreciation	75	71	50	50	52	56	73	92	107	114	115
Profit before Tax	266	299	287	64	74	237	485	480	287	208	258
Tax %	28.43%	29.32%	33.93%	30.14%	36.03%	24.17%	27.85%	22.61%	16.95%	25.96%	24.23%
Net Profit	191	211	189	45	47	180	350	371	238	154	195
EPS	170.26	192.98	174.15	42.12	44.43	168.19	327.82	347.73	223.07	144.12	—
Dividend Payout %	20.12%	20.73%	19.75%	23.74%	22.51%	23.78%	30.04%	21.57%	13.45%	24.29%	—

COMPOUNDED SALES GROWTH

10 Years:: 2%
5 Years:: 13%
3 Years:: -12%

COMPOUNDED PROFIT GROWTH

10 Years:: -4%
5 Years:: 27%
3 Years:: -24%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 24%

RETURN ON EQUITY

10 Years:: 10%
5 Years:: 11%
3 Years:: 10%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11	11	11	11	11	11	11	11	11	11
	1,527	1,711	1,680	1,646	1,770	1,975	2,289	2,652	2,861	2,960
	100	95	50	68	135	427	334	223	172	193
Trade Payables	327	420	381	341	434	569	728	560	546	622
	764	674	472	449	584	890	812	759	752	811
Total Liabilities	2,730	2,911	2,594	2,514	2,932	3,870	4,174	4,204	4,341	4,597
	462	515	648	664	659	681	863	930	951	908
Capital Work in Progress	3	21	12	30	11	5	23	9	4	1
	126	148	189	201	351	521	581	706	901	1,075
	332	306	308	274	324	497	644	558	528	535
	0	0	0	0	0	0	0	181	195	279
Cash & Bank	907	970	523	619	763	461	692	898	1,291	1,006
	899	950	914	726	825	1,704	1,372	922	471	793
Total Assets	2,730	2,911	2,594	2,514	2,932	3,870	4,174	4,204	4,341	4,597

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	220	246	195	117	194	544	377	140	26	154
Cash from Investing	68	-20	30	-70	-144	-445	-245	-61	68	-63
Cash from Financing	-195	-47	-215	-45	-11	-11	-43	-105	-80	-32
	5	98	-61	-29	1	21	36	-26	14	59

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31.13	31.13	31.13	31.13	30.80	30.80	30.80	30.80	30.80
	5.48	5.49	5.63	5.91	5.81	5.53	5.46	5.54	5.45
	10.90	10.63	10.16	9.63	9.85	9.78	9.77	9.55	9.50
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	52.49	52.75	53.08	53.32	53.53	53.88	53.95	54.10	54.24

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

General Updates

2026-09-03 - LMW Limited has informed the Exchange about the ESG Rating under Regulation 30 of SEBI (LODR) Regulations, 2015.

2026-08-29

General Updates

2026-08-29 - LMW Limited has informed the Exchange about the intimation of Change of Name of Wholly Owned Subsidiary Company under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 .

2026-08-12

Copy of Newspaper Publication

2026-08-12 - LMW Limited has informed the exchange about the copies of the newspaper advertisements for the Postal Ballot/E-voting information (e-voting) published on 12th August 2026 in Business Line (English) and The Hindu - Tamil (Tamil).

2026-08-11

Shareholders meeting

2026-08-11 - LMW Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-07

Credit Rating- New

2026-08-07 - LMW Limited has informed the Exchange about the Intimation of Credit Rating under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2026-08-07

Copy of Newspaper Publication

2026-08-07 - LMW Limited has informed the Exchange about a copy of the newspaper publication under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2026-07-31

Change in Management

2026-07-31 - LMW Limited has informed the exchange of the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Change in Senior Management Personnel (SMP) of the Company.

2026-07-31

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-31 - LMW Limited has informed the Exchange about the transcript of the Analyst /Investor Meeting held on 27th July 2026.

2026-07-28

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-28 - LMW Limited has informed the Exchange about the audio recording link of the analyst meeting held on 27th July 2026 .

News

Recent coverage and analyst commentary for LMW

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