Synopsis:-LMW Limited posted consolidated revenue of Rs. 3,207 crore and PAT of Rs. 131 crore for FY26, growing 6.5 percent and 27.4 percent year-on-year respectively with the Machine Tool & Foundry and Advanced Technology Centre divisions driving all of the growth while the legacy Textile Machinery segment remained loss-making at the operating level for a second consecutive year.
Shares of a Coimbatore-based industrial machinery manufacturer came into focus after its Board of Directors, meeting on May 20, 2026, approved full-year audited results for FY26 alongside a dividend announcement, MD re-appointment, auditor transition, and an overseas subsidiary investment one of the more comprehensive board-level disclosures of the results season.
With a market capitalisation of Rs. 15,242.5 crore, the shares of LMW Limited were last recorded at Rs.14,268, down 0.88 percent from its previous close of Rs.14,395. The stock trades at a P/E of 117.62
On a consolidated basis, LMW reported revenue from operations of Rs. 3,207.42 crore for FY26, up 6.5 percent from Rs. 3,012.01 crore in FY25. PAT grew 27.4 percent to Rs. 130.73 crore from Rs. 102.61 crore, with consolidated EPS at Rs. 122.37 versus Rs. 96.05. Q4 FY26 consolidated was the better quarter, revenue at Rs. 933.16 crore (consolidated) grew 16.1 percent year-on-year, and Q4 PAT of Rs. 63.69 crore was up 33.2 percent.
The standalone picture is worth parsing separately. Reported standalone PAT fell from Rs. 238.24 crore in FY25 to Rs. 153.92 crore in FY26 a decline that looks alarming on face value but is almost entirely explained by a Rs. 131.61 crore exceptional gain in FY25 from the sale of LMW’s China and UAE subsidiary stakes to LMW Holding Limited. Stripping that out, the underlying standalone profit before exceptional items improved from Rs. 155.26 crore in FY25 to Rs. 221.06 crore in FY26 a 42 percent operational improvement. Investors reading only the reported standalone PAT line would miss this entirely.
Segment Analysis
The consolidated segment data reveals a business in structural transition. The Textile Machinery Division historically LMW’s core posted revenue of Rs. 1,933.13 crore in FY26, near-flat against Rs. 1,942.15 crore in FY25, and recorded a segment loss of Rs. 16.32 crore (FY25 loss: Rs. 20.66 crore). The loss narrowed slightly, but the division has not turned profitable at the segment level.
The growth and earnings in FY26 came from the other two divisions. Machine Tool & Foundry posted revenue of Rs. 1,204.94 crore, up 20.1 percent year-on-year, with segment profit of Rs. 97.20 crore up 63.9 percent from Rs. 59.29 crore. The Advanced Technology Centre contributed Rs. 206.82 crore in revenue (up 22.2 percent) and Rs. 28.74 crore in profit (up 69.3 percent). Together, these two divisions delivered Rs. 125.94 crore in segment profit against the textile division’s Rs. 16 crore drag. At current revenue trajectories, the question for FY27 is whether the textile machinery capex cycle in India begins to turn global cotton textile demand and domestic capacity expansion in spinning would be the catalysts to watch.
The company remains debt-free, with consolidated borrowings at nil and cash plus bank balances of approximately Rs. 1,264 crore as of March 2026. The Board declared a dividend of Rs. 35 per share (350 percent on face value of Rs. 10) for FY26, with a record date of July 17, 2026 and the 63rd AGM scheduled for July 24, 2026 via video conferencing.
The Board also approved an additional investment of up to USD 30 million (approximately Rs. 250 crore at current rates) in LMW Holding Limited, its wholly owned subsidiary in the Dubai International Financial Centre, UAE. The funds are earmarked for capex and working capital at the holding entity, which in turn holds the group’s international operating subsidiaries. LMW Holding’s turnover grew from Rs. 2.03 crore in FY25 to Rs. 18.19 crore in FY26 early-stage but directionally meaningful. The investment is expected to complete by August 2026.
Business Overview
Incorporated in 1962, LMW Limited formerly Lakshmi Machine Works is a Coimbatore-headquartered manufacturer of textile spinning machinery, CNC machine tools, heavy castings, and aerospace components. The company operates three segments: Textile Machinery, Machine Tool & Foundry, and Advanced Technology Centre, and lists on both BSE and NSE. For Q4 FY26, consolidated revenue was Rs. 933.16 crore and PAT Rs. 63.69 crore. For FY26, consolidated revenue was Rs. 3,207.42 crore and PAT Rs. 130.73 crore. The auditors have issued an unmodified opinion on both standalone and consolidated results.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
