NSE: LMW · BSE: 500252
LMW LIMITED
Manufactures textile spinning machinery, machine tools and castings, and advanced composite components through three divisions. The Textile Machinery Division generated ₹1,801.17 cr in FY26 (56.1% of segment revenue) supplying spinning equipment, parts and spares to cotton and synthetic textile mills in India and overseas. The Machine Tool & Foundry Division generated ₹1,204.94 cr (37.5%) making vertical machining centres and castings for aerospace, automotive and electronics manufacturing customers. The Advanced Technology Centre generated ₹206.82 cr (6.4%) focused on composites for aerospace and automotive applications, with a stated export-led growth push. Materials account for 62.2% of revenue and employees 12.2%, reflecting a fabrication-heavy cost structure, while capex runs at 2.3% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textile Machinery Division (56%), Machine Tool & Foundry Division (38%), Advanced Technology Centre (6%). Multi-division industrial manufacturer spanning textile machinery, machine tools and composites
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,171 | 4,719 | 4,696 | 3,012 | 3,207 |
| EBITDA (ex other income) | 230 | 449 | 435 | 139 | 156 |
| margin % | 7.2 | 9.5 | 9.3 | 4.6 | 4.9 |
| Owners' profit | 0 | 0 | 374 | 103 | 131 |
| EPS, as reported (₹) | 169.47 | 359.47 | 349.77 | 96.05 | 122.37 |
| ROE % · ROCE % | 9.1 · 9.8 | 16.4 · 19.1 | 13.8 · 16.2 | 3.7 · 5.0 | 4.6 · 5.9 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 485 | 364 | 141 | 29 | 177 |
| Capex | (76) | (278) | (151) | (130) | (74) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 769 | 766 | 804 | 694 | 822 | 758 | 933 | 861 |
| Profit before tax | 34 | 40 | 61 | 20 | 55 | 30 | 78 | 72 |
| Net profit | 24 | 19 | 48 | 11 | 41 | 15 | 64 | 56 |
| EPS (₹) | 22.90 | 18.06 | 44.76 | 10.74 | 38.30 | 13.72 | 59.61 | 51.97 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Textile Machinery Division | 1,933 | 57.8 |
| Machine Tool & Foundry Division | 1,205 | 36.0 |
| Advanced Technology Centre | 207 | 6.2 |
| Total, before eliminations | 3,345 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED ◆ | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 100.1 | 26.7 | 114 of 130 | 12% |
| P/B | 6.1 | 3.1 | 84 of 112 | 25% |
| ROCE | 5.8 | 11.3 | 103 of 142 | 28% |
| ROE | 4.6 | 9.8 | 83 of 113 | 27% |
| Debt / Equity | 0.0 | 0.2 | 1 of 113 | 80% |
| EBITDA margin | 11.9 | 12.4 | 59 of 110 | 47% |
| Revenue growth | 24.0 | 20.6 | 49 of 114 | 58% |
| Profit growth | 384.1 | 17.1 | 7 of 109 | 94% |
| Market cap | 17483 | 273 | 6 of 141 | 96% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Q2 revenue up 30%; textile order book at Rs 3,400 crore | investor communications | low | — | — |
| 23 Oct 2026 · LMW posts audio of October analyst conference call | investor communications | low | — | — |
| 22 Oct 2026 · LMW standalone September quarter profit rises 93% on 41% operating income growth | compliance | minimal | — | — |
| 21 Oct 2026 · LMW Q2 net profit nearly doubles to Rs 87 cr; new Rs 10 cr unit planned | management changes | medium | — | — |
| 21 Oct 2026 · LMW Q2 profit nearly doubles YoY to Rs 87 cr; board approves Rs 10 cr new unit | capex operations | high | — | — |
| 21 Oct 2026 · LMW Q2 FY27 results: revenue up 45%, PAT nearly doubles YoY; new unit approved | results | high | — | — |
| 21 Oct 2026 · LMW profit rises sharply; new unit adds 125 machines per month | results | high | — | — |
| 7 Oct 2026 · Quarterly dematerialisation compliance certificate filed with depositories | compliance | minimal | — | — |
| 6 Oct 2026 · Newspaper notice on SEBI special window for physical share transfer | compliance | minimal | — | — |
| 5 Oct 2026 · LMW Limited schedules virtual analyst/investor meet on Oct 22, 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.