Lokesh Machines Ltd Company Summary

Lokesh Machines Ltd Summary

Lokesh Machines Ltd is an India-based company. The company is engaged in the industry of manufacturing of machine tools and auto components. They have two segments, namely Machines division and Components division. Their products include horizontal machining centre (HMC) and vertical machining centre (VML). The companys special purpose machines cover a range of applications, such as duplex milling, simplex milling, multi spindle drilling, multi spindle tapping, gun drilling, fine boring and broaching. Their range of transfer lines includes linear transfer lines, shuttle type transfer lines, auto transfer lines and rotary transfer lines.Lokesh Machines Ltd was incorporated on December 17, 1983 as a public limited company. The company was promoted by M Lokeswara Rao. During the year 1988-89, the company entered into auto marker and received orders from Bajaj Auto Ltd. During the year 1994-95, the company formed Auto Component Division. During the year 1995-96, the company signed a contract with Mahindra & Mahindra for machining Cylinder Blocks. They bagged orders from Ashok Leyland and Escorts for SPMs. During the year 1997-98, the company formed the CNC Division. Also, they bagged orders for CNC Lathes from Bharat Forge Ltd. During the year 1998-99, the company formed countrywide Dealer Network for CNC Division. Also, they signed turnkey contract with L & T John Deere Ltd for Total Cylinder Block Semi automatic line supply. During the year 1999-2000, the company bagged and executed the first export order. During the year 2000-01, they signed contract for machining 2nd and 3rd machining line for Mahindra & Mahindra Cylinder Blocks.During the year 2003-04, the company made a tie up with Howa Machine Corporation Japan for manufacture of High Speed Vertical Machining Centre for re-exports. The company received orders from Japanese Auto major Honda Motors for supply of CNC Machines to their Indian company. Also, they received ISO 9001-2000 certification for Machine Tool Division QS - 9000 certification for Auto Components Division.During the year 2004-05, the company doubled the capacity for supply of cylinder blocks to Mahindra & Mahindra Ltd. They bagged export orders for 25 machines valued at 375,000 Euro. During the year 2005-06, the company bagged export orders for 42 machines valued at 630,000 Euro. They finalized contract with Wenig-Wemas for export of lathes and VMCs to Europe.During the year 2006-07, the company set up facility for machining and supply of Cylinder Blocks and Cylinder Heads for Ashok Leyland Limited. In April 2007, they commenced the commercial production of the facility set up for the Ashok Leyland. Thus, the company increased the number of machines by 150 Nos to 400 Nos during the year.The company is setting up a manufacturing facility at Ranjangaon, Pune to exclusively cater to the requirements of Mahindra & Mahindra Ltd for cylinder blocks. This unit, being set up at a project cost of Rs 25 crore is expected to commence commercial operations during the financial year 2010-11.The Company started commercial production of auto components (Cylinder Blocks) at their manufacturing plant in Ranjangaon, Pune in 2010. The New Connecting Rod Manufacturing line had commenced production during 2015-16.