Lakshmi Machine Works

Lakshmi Machine Works Limited
Type	Public
Industry	Textile, Machine tool, Steel & GI Foundry
Founded	1962
Headquarters	Periyanaickenpalayam, Coimbatore, India
Key people	Sanjay Jayavarthanavelu, Chairman & Managing Director. R Rajendran, Director Finance.
Products	Textile Machinery, Machine Tool; windmill, automotive, earth mover parts etc.
Revenue	₹24.16 billion (US$360 million) (2015)^[1]
Net income	₹2.20 billion (US$33 million) (2015)^[2]
Total assets	₹22.37 billion (US$330 million) (2015)^[3]
Total equity	₹12.82 billion (US$190 million) (2015)^[4]
Number of employees	5000+
Website

Lakshmi Machine Works Limited (LMW) is India's largest textile machinery and CNC Machine Tool manufacturers, based in Coimbatore founded by Cavalier Dr. G.K. Devarajulu. It started its operation in 1962 in Periyanaickenpalayam in Coimbatore city with technical collaboration with Swiss-based textile machinery manufacturer Rieter for textile machines and German based Steel and Ammunition major Krupp. In mid 1980's the company bought over its Coimbatore based longtime rival and much older Textile and engineering giant Textool. The company is promoted and owned by the Lakshmi Mills family.

LMW has 60% market share in the domestic Textile Spinning Machinery Industry.LMW diversified into CNC Machine Tools and is a brand leader in manufacturing customized products.

LMW's Global presence has grown over the years, with a market presence not only in developing countries, but also in Europe.

Company history

Textile machinery division

In 1980 LMW finalised another technical collaboration with Rieter Machine Works, Ltd., Switzerland for the manufacture of open end spinning machines and with Investa, Czechoslovakia for the supply of spinning units. In the same year Government approved another technical agreement with Rieter for the manufacture of improved and sophisticated ring frame Rieter Model "G5/1" the first of which was delivered in November 1982.

In 1989 the company entered into a collaboration agreement for advance technology in the manufacture of open end rotors spinning machines with Schubert & Salzer, Ingolstadf, West Germany.In 1996 the Kaniyur unit was set up to cater domestic and export demands.

1998 The company is the In 1998 The collaboration agreement between the textile machinery manufacturing major, Lakshmi Machine Works Ltd (LMW) and Rieter Machine Works Ltd, Switzerland (Rieter) came to an end after 35 years of association. By then LMW became the largest supplier of ring spinng machines in the world with over 12 million spindles in operation.And was one among three companies in the world to manufacture the entire range of spinning machinery. In 2003 Board of Industrial Finance and Reconstruction approves for the merger of Textool Company with LMW which was LMW’s long time rival.

Foundry Division

LMW Foundry makes Precision Castings for industries the world over. The only company in Asia outside Europe to manufacture OE products for Mikron of Switzerland.

Machine tool division

The machine tool division was established in 1986 in technical collaboration with Mori Serki of Japan to manufacture CNC Lathes and machining centres.in recent years LMW inhouse R&D centers have developed and launched more advance machines into the market.

Credentials

ISO 14001: 2004 & OHSAS: 18001:2007 certified for the following companies :

MW TMD Unit 1,2 & 3
LMW Fdy Unit 1 & 2
LMW MTD

ISO 14001: 2004 & OHSAS: 18001:2007 policy

Awards

2012 - EEPC INDIA Export Award EEPC INDIA has given away the award for "HIGHEST GROWTH IN EXPORTS - LARGE ENTERPRISE for special contribution for 2010 - 2011" to LMW during the function held at Hyderabad. The Award was presented by Dr. M.M. Pallam Raju, Union Minister of State for Defence, Government of India in the function held at Hyderabad International Convention Centre, Hyderabad on 27 July 2012.^[5] LMW has won the Top Export Award in textile machine exports for the past seven years.

Other institutions

LMW launched a Management Institute, D J Academy For Managerial Excellence and DJ School of Design in Coimbatore both named after D. Jayavarthanavelu.

References

Notes

Sources

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