LMW Limited has informed the Exchange regarding Change in Auditors of the company.
LMW · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
LMW Limited's board, meeting on 14th May 2025, approved audited financial results for Q4 and FY ended 31 March 2025 with an unmodified auditor opinion from S. Krishnamoorthy & Co. Standalone FY25 revenue from operations fell to Rs 2,909.40 crore from Rs 4,597.14 crore last year, and standalone net profit dropped to Rs 238.24 crore from Rs 371.38 crore. Consolidated net profit came in sharply lower at Rs 102.61 crore versus Rs 373.66 crore, hurt by weak textile machinery division performance. The board recommended a dividend of Rs 30 per share (face value Rs 10), with the record date set as 10 July 2025 and the 62nd AGM on 17 July 2025. New Secretarial Auditor MDS & Associates LLP was appointed for five years from FY26, and Sri A N Raman was appointed as Cost Auditor for FY26. The board also approved additional investment in LMW Holding Limited (UAE) and a material related party transaction with Lakshmi Electrical Control Systems Limited.
Sharp year-on-year decline in both standalone and consolidated profits is a negative signal, though Rs 131.61 crore one-time gain from sale of China and UAE subsidiaries to the UAE arm flatters standalone numbers. The Rs 30 dividend (300% on face value) offers decent yield support. Subsidiary restructuring and related-party deal need shareholder approval and merit scrutiny.