Lakshmi Machine Works said that the operations of textile machinery division (TMD) and machine tools division (MTD) have been suspended from 24 May 2021, until further notice.
The suspension of operations is in compliance with the government directives issued in view of the continuing COVID-19 pandemic.
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. It caters to the domestic market as well as exports products to the Asian and Oceanic regions. It has diversified into CNC machine tools. LMW Foundry makes precision castings for industries world over. LMW has added the advanced technology centre to manufacture components for the aerospace industry.
The company's company's consolidated net profit zoomed to Rs 33.26 crore in Q3 FY21 from Rs 3.26 crore in Q3 FY20. Net sales jumped 49.4% to Rs 478.56 crore in Q3 FY21 over Q3 FY20.
The scrip was up 0.49% at Rs 6855.55 on the BSE.
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