Consolidated net sales (including other operating income) of Lakshmi Machine Works has increased 8.95% to Rs 1320.42 crore. Sales of Textile Machinery Division segment has gone up 9.03% to Rs 1,062.09 crore (accounting for 77.19% of total sales). Sales of Machine Tool & Foundry Division segment has gone up 2.74% to Rs 271.12 crore (accounting for 19.71% of total sales). Sales of Advanced Technology Centre segment rose 29.78% to Rs 42.66 crore (accounting for 3.10% of total sales). Inter-segment sales rose Rs 44.83 crore to Rs 48.86 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 3.46% to Rs 129.58 crore. PBIT of Textile Machinery Division segment fell 1.61% to Rs 104.67 crore (accounting for 80.78% of total PBIT). PBIT of Machine Tool & Foundry Division segment rose 7.42% to Rs 19.26 crore (accounting for 14.86% of total PBIT). PBIT of Advanced Technology Centre segment rose 501.06% to Rs 5.65 crore (accounting for 4.36% of total PBIT). PBIT margin of Textile Machinery Division segment fell from 10.92% to 9.86%. PBIT margin of Machine Tool & Foundry Division segment rose from 6.79% to 7.10%. PBIT margin of Advanced Technology Centre segment rose from 2.86% to 13.24%. Overall PBIT margin fell from 9.86% to 9.42%. Operating profit margin has jumped from 9.90% to 10.30%, leading to 13.29% rise in operating profit to Rs 135.96 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.13% to 63.58%. Employee cost increased from 8.05% to 8.12%. Other expenses rose from 18.02% to 18.05%. Other income fell 17.71% to Rs 35.07 crore. PBIDT rose 5.17% to Rs 171.03 crore. Provision for interest remained nil.
PBDT rose 5.16% to Rs 171.02 crore. Provision for depreciation rose 27.51% to Rs 23.64 crore. Profit before tax grew 2.28% to Rs 147.38 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 32.27 crore, compared to Rs 39.79 crore. Effective tax rate was 21.90% compared to 27.61%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 10.36% to Rs 115.11 crore. For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Lakshmi Machine Works for the half year ended Sep 2023 has increased 14.43% to Rs 2511.24 crore. Sales of Textile Machinery Division segment has gone up 15.47% to Rs 2,024.66 crore (accounting for 77.18% of total sales). Sales of Machine Tool & Foundry Division segment has gone up 4.03% to Rs 514.90 crore (accounting for 19.63% of total sales). Sales of Advanced Technology Centre segment rose 57.18% to Rs 83.65 crore (accounting for 3.19% of total sales). Inter-segment sales rose Rs 81.86 crore to Rs 95.07 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 11.08% to Rs 234.84 crore. PBIT of Textile Machinery Division segment rose 5.42% to Rs 188.14 crore (accounting for 80.11% of total PBIT). PBIT of Machine Tool & Foundry Division segment rose 17.31% to Rs 36.66 crore (accounting for 15.61% of total PBIT). PBIT of Advanced Technology Centre segment rose 487.13% to Rs 10.04 crore (accounting for 4.28% of total PBIT). PBIT margin of Textile Machinery Division segment fell from 10.18% to 9.29%. PBIT margin of Machine Tool & Foundry Division segment rose from 6.31% to 7.12%. PBIT margin of Advanced Technology Centre segment rose from 3.21% to 12.00%. Overall PBIT margin fell from 9.19% to 8.95%. Operating profit margin has jumped from 9.37% to 9.75%, leading to 19.01% rise in operating profit to Rs 244.83 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.07% to 63.97%. Employee cost increased from 8.43% to 8.44%. Other expenses fell from 18.30% to 17.93%. Other income rose 5.96% to Rs 71.52 crore. PBIDT rose 15.79% to Rs 316.35 crore. Provision for interest remained nil. . PBDT rose 15.73% to Rs 316.19 crore. Provision for depreciation rose 32.73% to Rs 46.43 crore. Profit before tax grew 13.23% to Rs 269.76 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 60.85 crore, compared to Rs 61.31 crore. Effective tax rate was 22.56% compared to 25.73%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 18.07% to Rs 208.91 crore. Equity capital stood at Rs 10.68 crore as of 30 September 2023 to Rs 10.68 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00. Promoters’ stake was 31.13% as of 30 September 2023 ,compared to 31.13% as of 30 September 2022 . Cash flow from operating activities decreased to Rs 124.82 crore for YTD ended September 2023 from Rs 174.86 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 52.82 crore, compared to Rs 172.23 crore during the YTD ended September 2022. Loan funds remained nil. Inventories rose to Rs 741.85 crore as of 30 September 2023 from Rs 705.82 crore as of 30 September 2022. Sundry debtors were lower at Rs 291.21 crore as of 30 September 2023 compared to Rs 321.69 crore as of 30 September 2022. Cash and bank balance rose to Rs 723.33 crore as of 30 September 2023 from Rs 542.99 crore as of 30 September 2022. Investments rose to Rs 618.00 crore as of 30 September 2023 from Rs 467.35 crore as of 30 September 2022 . Fixed assets increased to Rs 919.60 crore as of 30 September 2023 from Rs 850.90 crore as of 30 September 2022. Intangible assets increased from Rs 13.99 crore to Rs 14.66 crore.
| Lakshmi Machine Works : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 1,320.42 | 1,211.90 | 8.95 | 2,511.24 | 2,194.53 | 14.43 | 4,719.15 | 3,170.95 | 48.82 | | OPM (%) | 10.30 | 9.90 | 39 bps | 9.75 | 9.37 | 38 bps | 9.52 | 7.79 | 173 bps | | OP | 135.96 | 120.01 | 13.29 | 244.83 | 205.72 | 19.01 | 449.13 | 246.96 | 81.86 | | Other Inc. | 35.07 | 42.62 | -17.71 | 71.52 | 67.50 | 5.96 | 147.82 | 68.34 | 116.30 | | PBIDT | 171.03 | 162.63 | 5.17 | 316.35 | 273.22 | 15.79 | 596.95 | 315.30 | 89.33 | | Interest | 0.01 | 0 | - | 0.16 | 0 | - | 0 | 0.09 | - | | PBDT | 171.02 | 162.63 | 5.16 | 316.19 | 273.22 | 15.73 | 596.95 | 315.21 | 89.38 | | Depreciation | 23.64 | 18.54 | 27.51 | 46.43 | 34.98 | 32.73 | 77.74 | 59.72 | 30.17 | | PBT | 147.38 | 144.09 | 2.28 | 269.76 | 238.24 | 13.23 | 519.21 | 255.49 | 103.22 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 147.38 | 144.09 | 2.28 | 269.76 | 238.24 | 13.23 | 519.21 | 255.49 | 103.22 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | -17.17 | - | | PBT after EO | 147.38 | 144.09 | 2.28 | 269.76 | 238.24 | 13.23 | 519.21 | 238.32 | 117.86 | | Taxation | 32.27 | 39.79 | -18.90 | 60.85 | 61.31 | -0.75 | 135.2 | 57.27 | 136.07 | | PAT | 115.11 | 104.3 | 10.36 | 208.91 | 176.93 | 18.07 | 384.01 | 181.05 | 112.10 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 115.11 | 104.3 | 10.36 | 208.91 | 176.93 | 18.07 | 384.01 | 181.05 | 112.10 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 115.11 | 104.3 | 10.36 | 208.91 | 176.93 | 18.07 | 384.01 | 181.05 | 112.10 | | EPS (Rs)* | 107.75 | 97.63 | 10.36 | 195.55 | 165.61 | 18.08 | 359.46 | 181.68 | 97.85 | | | * EPS is on current equity of Rs 10.68 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Lakshmi Machine Works : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202309 | 202209 | Var.(%) | % of (Total) | 202309 | 202209 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
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| Sales | | Textile Machinery Division | 77.19 | 1,062.09 | 974.11 | 9.03 | 77.18 | 2,024.66 | 1,753.40 | 15.47 | 77.72 | 3,825.21 | 24,033.17 | -84.08 | | Machine Tool & Foundry Division | 19.71 | 271.12 | 263.88 | 2.74 | 19.63 | 514.90 | 494.97 | 4.03 | 20.03 | 985.64 | 8,112.86 | -87.85 | | Advanced Technology Centre | 3.10 | 42.66 | 32.87 | 29.78 | 3.19 | 83.65 | 53.22 | 57.18 | 2.25 | 110.75 | 482.94 | -77.07 | | Total Reported Sales | 100.00 | 1,375.87 | 1,270.86 | 8.26 | 100.00 | 2,623.21 | 2,301.59 | 13.97 | 100.00 | 4,921.60 | 32,628.97 | -84.92 | | Less: Inter segment revenues | | 48.86 | 44.83 | 8.99 | | 95.07 | 81.86 | 16.14 | | 161.93 | 832.68 | -80.55 | | Net Sales | 100.00 | 1,327.01 | 1,226.03 | 8.24 | 100.00 | 2,528.14 | 2,219.73 | 13.89 | 100.00 | 4,759.67 | 31,796.28 | -85.03 | | PBIT | | Textile Machinery Division | 80.78 | 104.67 | 106.38 | -1.61 | 80.11 | 188.14 | 178.46 | 5.42 | 85.42 | 377.91 | 1,442.13 | -73.80 | | Machine Tool & Foundry Division | 14.86 | 19.26 | 17.93 | 7.42 | 15.61 | 36.66 | 31.25 | 17.31 | 13.83 | 61.19 | 733.89 | -91.66 | | Advanced Technology Centre | 4.36 | 5.65 | 0.94 | 501.06 | 4.28 | 10.04 | 1.71 | 487.13 | 0.75 | 3.33 | -185.67 | LP | | Total PBIT | 100.00 | 129.58 | 125.25 | 3.46 | 100.00 | 234.84 | 211.42 | 11.08 | 100.00 | 442.43 | 1,990.35 | -77.77 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 17.80 | 18.84 | -5.52 | | 34.92 | 26.81 | 30.25 | | 76.78 | 392.85 | -80.46 | | PBIT Margin(%) | | Textile Machinery Division | | 9.86 | 10.92 | -106.56 | | 9.29 | 10.18 | -88.55 | | 9.88 | 6.00 | 387.89 | | Machine Tool & Foundry Division | | 7.10 | 6.79 | 30.91 | | 7.12 | 6.31 | 80.63 | | 6.21 | 9.05 | -283.79 | | Advanced Technology Centre | | 13.24 | 2.86 | 1,038.45 | | 12.00 | 3.21 | 878.93 | | 3.01 | -38.45 | 4,145.34 | | PBT | 100.00 | 147.38 | 144.09 | 2.28 | 100.00 | 269.76 | 238.23 | 13.24 | 100.00 | 519.21 | 2,383.20 | -78.21 |
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