LMW Limited has informed the Exchange regarding 'Board recommended the Propsal for obtaining the approval of the shareholders at the ensuing Annual General Meeting for the material related party transactions with Lakshmi Electrical Control Systems Limited.'.
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LMW Limited's board, at its 14th May 2025 meeting, approved audited standalone and consolidated financial results for FY25 with an unmodified auditor opinion. Standalone revenue from operations fell to Rs.2,909.40 crore (from Rs.4,597.14 crore in FY24), while net profit dropped to Rs.238.24 crore (from Rs.371.38 crore), boosted by an exceptional item of Rs.131.61 crore from the sale of investments in wholly owned subsidiaries in China and UAE. Consolidated net profit was Rs.102.61 crore versus Rs.373.66 crore last year. The board recommended a dividend of Rs.30 per share (face value Rs.10) for FY25, subject to shareholder approval at the 62nd AGM on 17th July 2025, with the record date set as 10th July 2025. The board also approved additional investment in LMW Holding Limited (UAE), appointment of new Secretarial and Cost Auditors, and will seek shareholder approval for material related party transactions with Lakshmi Electrical Control Systems Limited.
The sharp decline in core operating profits year-on-year may concern investors, but the dividend announcement (Rs.30/share) and the exceptional gain on subsidiary restructuring provide some support. The related party transaction with Lakshmi Electrical Control Systems will require shareholder voting at the upcoming AGM, which is a governance checkpoint for retail investors to monitor.