Shares of Lakshmi Machine Works gained 1.49% to Rs 8,830 in a weak market after the company reported a 217% jump in consolidated net profit to Rs 82.73 crore in Q4 FY22 from Rs 26.05 crore posted in Q4 FY21.
Consolidated net sales grew by 46% to Rs 998.50 crore in Q4 FY22 from Rs 683.70 crore posted in the same quarter last year. Profit before tax surged 116.7% to Rs 90.1 crore in Q4 FY22 from Rs 41.58 crore posted in Q4 FY21.Total expenses rose by 39.3% to Rs 907. 84 crore in Q4 FY22 from Rs 651.88 crore posted in Q4 FY21. Cost of raw materials soared 51% year on year to Rs 653.63 in the quarter ended 31 March 2022.
On the segmental front, revenue from Textile Machinery Division was Rs 760.52 crore (up 62% YoY), Machine Tool & Foundry Division revenue was Rs 248.88 crore (up 9.87% YoY) and Advanced Technology Centre revenue was Rs 17.86 crore (up 177% YoY) in the quarter ended 31 March 2022.
On full year basis, the company reported 305.9% jump in consolidated net profit to Rs 181.05 crore on an 83.6% rise in net sales to Rs 3,170.95 crore in the financial year ended 31 March 2022 over the financial year ended 31 March 2021.
Meanwhile, the company's board recommended a dividend of Rs 40 per share for the financial year ended 31 March 2022.
Lakshmi Machine Works is a leading textile machinery manufacturer in India and one among the three in the world to produce the entire range of spinning machinery.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app