Lakshmi Machine does well

Coimbatore based Lakshmi Machine Works, India's largest textile machinery and CNC Machine Tool manufacturers posted fantastic numbers for Q3FY21.

Its consolidated revenue from operations rose 49% (YoY) at Rs.378 crore and net profit rose 11-times to Rs33 crore and sequentially, it was up almost 5-tmes.

The debt-free company’s equity is at Rs.10.68 crore and EPS is at Rs.31.13 (FV of Rs.10).

The company’s previous quarters were not good and that impacted the 9MFY21 net profit, which is at Rs.18 crore v/s 26 crore. It has ended FY20 with a net profit of Rs.28 crore. Thus unless Q4 proves to be as blockbuster as Q3, it will end FY21 on a muted note.

The market has given this performance a thumbs up and the stock price rose almost 3% to Rs.5228.80 and is now trading lower at Rs.5155.