LMW Ltd.
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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 GENERATEDTextiles
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.
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
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LMW | 17686.50 | 108.10 | 18894.49 | 0.20 | 55.52 | 384.05 | 860.72 | 24.00 | 6.44 | 7.39 |
| LCL | 553.15 | 30.22 | 5844.03 | 0.32 | 662.61 | — | 5030.22 | — | 44.59 | 19.92 |
| INDIANCARD | 208.65 | 20.70 | 123.96 | 0.00 | 4.56 | 98.95 | 9.78 | 1.35 | 33.18 | -31.02 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - LMW Limited has informed the Exchange about the declaration of results of voting on the resolution set out in the Postal Ballot Notice dated 24th July 2026 and the Scrutinizer's Report.
2026-09-03 - LMW Limited has informed the Exchange about the ESG Rating under Regulation 30 of SEBI (LODR) Regulations, 2015.
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 - 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 - LMW Limited has informed the Exchange regarding Notice of Postal Ballot
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 - 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 - 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 - LMW Limited has informed the Exchange about the transcript of the Analyst /Investor Meeting held on 27th July 2026.
News
Recent coverage and analyst commentary for LMW
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LMW Ltd.
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