Annual Report 2024-25
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LWS Knitwear has filed its Annual Report for FY2024-25 along with the notice for its 36th AGM scheduled for 30 September 2025. Gross income grew strongly to Rs 108.69 crore from Rs 75.13 crore (up about 45%), and profit after tax rose to Rs 2.53 crore from Rs 1.40 crore (up about 81%). The board has not recommended any dividend to conserve resources. The company completed a rights issue of nearly 95.73 lakh equity shares on 31 December 2024, expanding its equity base. AGM special business includes revision in MD and Wholetime Director remuneration (raised from Rs 60,000 to Rs 1,25,000 per month with 10% annual increment), entering into individual loan agreements with promoter-directors Girish Kapoor and Kusum Kapoor of up to Rs 10 crore each with an option to convert the loans into equity, and appointment of a new secretarial auditor for five years from FY2025-26.
Strong revenue and profit growth is a positive sign for shareholders, but margin actually compressed from about 4.3% to 3.2% on PBIDT basis, suggesting costs are rising faster than sales. The rights issue has already diluted existing shareholders, and the proposed Rs 20 crore promoter loans with an equity conversion option could lead to further dilution if invoked in the future.