Lakshmi Elec Cont
Lakshmi Electrical Control Systems is a group company of Lakshmi Machine Works, based in Coimbatore, making custom-engineered control panel for Textile Machinery, Machine Tools, APFC, Energy Saver. It also makes Engineering Plastic components.
Despite a 11%(YoY) drop in net sales at Rs.40 crore, the company ended the Q2FY17 with 40% rise in net profit at Rs.3.35 crore. This was thanks to the 11% drop in total expenses, 52 increase in other income, 31% reduction in tax.
Typical of the Lakshmi group, the company is debt free, cash rich - at Rs.45 crore as at 30th Sept 2016, equity is small at Rs.2.46 crore and reserve is healthy at Rs.89 crore, making it a potential bonus candidate. Annualized EPS stands at Rs.42 (FV of Rs.10).