Lakshmi Machine Works stock slips despite of strong Q4 numbers

Lakshmi Machine Works reported 77.11% yoy growth in consolidated revenues for the Mar-21 quarter at Rs683.70cr.

May 25, 2021 03:05 IST India Infoline News Service

Lakshmi Machine Works (LMW) slipped despite strong Q4 numbers. The company’s net profit rose 1285.64% to Rs26.05cr in the quarter ended March 2021 as against Rs1.88cr during the previous quarter ended March 2020. Sales rose 77.10% to Rs683.70cr in the quarter ended March 2021 as against Rs386.05cr during the previous quarter ended March 2020.

The stock is currently trading at Rs6,634.85, down by Rs163.3 or 2.4% from its previous closing of Rs6,798.15 on the BSE.

It reported 77.11% yoy growth in consolidated revenues for the Mar-21 quarter at Rs683.70cr. On a sequential basis, the total sales revenues were up 42.87% compared to total revenues in the Dec-20 quarter at Rs478.56cr.

LMW saw a sharp growth in top line of 53% in the textile machinery division to Rs470cr. The machine tools & foundry division saw top line grow by 158% at Rs228cr in the Mar-21 quarter. What is more interesting is that the machine tools and foundry business made a much bigger contribution to EBITDA compared to textiles machinery by more than 2X.

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