LMW Limited — Annual Report 2020

May 25, 2020

Our Ref : Sec./270/2020 Date : 25.05.2020

BS E Limited Listing Department Phiroze Jeejeebhoy Towers Dalal Street, MUMBAI-400 001 .

National Stock Exchange of India Limited listing Department Exchange Plaza, C-1, Block-G, Sandra Kurla Complex Bandra(E), MUMBAI - 400 051.

Dear Sirs,

Sub: Compliance of SEBI (Listing Obligations & Disclosure Requirements) Regulations. 2015.

In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you that the Board of Directors of the Company at their meeting held today, the 25th May, 2020 have, inter alia, approved the following :-

• 1. Audited Financial Statements (Standalone and Consolidated) for the quarter and year ended 31st March, 2020.
• 1. Recommended dividend of Rs.10/ per equity share having face value of Rs.10/- each for the financial year ended 31st March, 2020. Upon approval of the final dividend by the shareholders at the 57th Annual General Meeting, the dividend amount after deducting applicable TDS, will be credited by 10th August, 2020 to the bank account of the shareholders who have registered their Bank account details with the Depository/ Company. And for the shareholders who have not registered their Bank account details, dividend warrants will be dispatched by 10th August, 2020 or at the earliest once the normalcy is restored.
• 1. To close the Register of Members and Share Transfer Books of the Company from 18th July, 2020 to 24th July, 2020 both days inclusive.
• 1. To convene the 57th Annual General Meeting of the Company on Friday the 24th July, 2020 in video conferencing / other audit visual means, details on the manner of attending the AGM and casting votes by shareholders will be set out in the Notice of the AGM.
• 1. Subject to Shareholders approval, approved the proposal for re-appointment of Sri. K Soundhar Rajhan (DIN: 07594186) as Whole-time Director (Designated as Director - Operations) of the Company for a period of 3 years with effect from oist November, 2020.

CORPORATE OFFICE : 34-A, Karnaraj Road, Coimbatore - 641 01 8 Phone : 2221 680 to 682, 3028100 Fax : 0422-2220912 www.lakshmimach.com REGISTERED OFFICE: Perianaickenpalayam, Coimbatore· 641 020, CIN-L29269TZ 1962PLC000463. 6. Subject to Shareholders approval, approved the proposal for varying the terms of appointment/ remuneration of Sri. Sanjay Jayavarthanavelu, (DIN: 00004505), Chairman and Managing Director and Sri. K Soundhar Rajhan, (DIN: 07594186), Director-operations.

The meeting commenced at 12.05 PM and concluded at 15.00 PM.

In accordance with the Circular No. SEBI/HO/CFD/CMDl/CIR/P/2020/48 dated March 26, 2020 and No.SEBI/HO/CFD/CMDl/CIR/P/2020/79 dated May 12, 2020 granting relaxation from the provisions of Regulation 47 of the SEBI Regulations, the above financials results will not be advertised in the newspapers. However, the same will be available on Company's website: www.lmwglobal.com

Yours faithfully, For LAKSHMI MACHINE WORKS LIMITED

(?£~

CR SHIVKUMARAN Company Secretary

cc: B S E Limited ·

Corporate Relationship Department ,1st Floor, New Trading Ring, Rotunda Building, PJ Towers, Dalal Street, Fort, Mumbai - 400 001.

Continuous Disclosure Requirements for Listed Entities - Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. 2015.

In continuation of the above outcome and in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find the following additional disclosure on point no. 5 of the Outcome:

1. Outcome : Subject to Shareholders approval, the Board has approved the proposal for re-appointment of Sri. K Soundhar Rajhan (DIN: 07594186) as Whole-time Director (Designated as Director- Operations) of the Company for a period of 3 years with effect from 01st November, 2020.

2. Reason for Change: Considering the association and contributions of Sri K. Soundhar Rajhan ~juring his tenure with the Company, the Board of Directors have re-appointed him as Whole-time Director (designated as Director - Operations) of the Company for a period of 3 years with effect from 01st November, 2020. ·

3. Date of Re-Appointment: 01st November, 2020 subject to the Shareholders approval in the ensuing AGM to be held on 24th July, 2020.

4. Term of Appointment: 3 Years with effect from 01 st November, 2020.

5. Brief Profile: Sri. K. Soundhar Rajhan had joined the Company in 1973 and has been invaluable to the development of the Company. He has a career spanning over 46 years in the field of Management and Administration. His re-appointment as Whole-time Director (designated as Director - Operations) of the Company would be greatly beneficial for future growth of the Company.

6. Disclosure of Relationships Between Directors: Sri. K. Soundhar Rajhan is not related to any of the Directors of the Company.

Fo,IAKSHMIMACHI~~

C R SHIVKUMARAN Company Secretory

CEO & CFO CERTIFICATE

The Board of Directors Lakshmi Machine Works Limited Coimbatore

25th May 2020

Annual Confirmation pursuant to Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

As required by Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby certify that :

• a) We have reviewed the financial statements and the cash flow statement of the Company for the year ended March 31, 2020 and that to the best of our knowledge and belief:
• (i) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading;

(ii) these statements together present a true and fair view of the company's affairs and are in compliance with existing a�counting standards, applicable laws and regulations.

• b) There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year which are fraudulent, illegal or violative of the Company's Code of Conduct.
• c) We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting and we have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.
• d) We have indicated to the Auditors and the Audit committee
• {i) significant changes in internal control over financial reporting during the year;

(ii) significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements; and

(iii) that there were no instances of fraud of which we have become aware and the involvement therein, if any, of the Management or an employee having a significant role in the Company's internal control system over financial r porting.

V.SENTHIL Chief Financial Officer (CFO)

s �c;n,,#- HANAVettJ •

Chair ing Director(CEO) 4505)

CORPORATE OFFICE: 34-A, Kamaraj Road, Coimbatore -641 018 Phone: 2221680to 682, 3028100 Fax: 0422-2220912 www.lakshmimach.com REGISTERED OFFICE: Perianaickenpalayam, Coimbatore -641 020, CIN-L29269TZ 1962PLC000463.

DECLARATION UNDER REGULATION 33 OF SEBI (LISTING OBLIGATIONS & OISCLOUSURE REQUIREMENTS), (AMENDMENT), REGULATIONS, 2016

Ref: SEBI Circular: CIR/CFD/CMD/56/2016 dated 27th May, 2016

I, V. Senthil, Chief Financial Officer of the Company, hereby declare, that the Company's Statutory Auditors M/s.S.Krishnamoorthy & Co (Firm Registration No:001496S), Chartered Accountants, Coimbatore have submitted an unmodified opinion/ unqualified opinion on the Audited Financial Results (Standalone and Consolidated) for the year ended 31st March, 2020.

For LAKSHMI MACHINE WORKS LIMITED

v. f 11!1:' / /Jv

CHIEF FINANCIAL OFFICER

CORPORATE OFFICE : 34-A, Kamaraj Road, Coimbatore -641 018 Phone: 2221680 to 682, 3028100 Fax : 0422-2220912 www.lakshmimach.com REGISTERED OFFICE: Perianaici<enpalayam. Coimbatore· 641 020, CIN-l29269TZ 1962PLC000463.

Lakshmi Machine Works Limited

Regd. Office: SRK Vldyalaya Post, Perianaickenpaiayam, Coimbatore-641020

Phone: 0422-7192255; website: www.lmwglobal.com·; E Mail : secretarial@lmw.co.in

CIN:L29269TZ1962PLC000463

Statem	f SndalAuditedfiial rulfot otatsr tenonenances	heQndrtuaerayea	nded31st Mr e	ch2020ar
			('I'.akhsS)InLEPptexce
SI. No.	Partilacurs	QU31.03.2020	ARTERENDED31.12.2019		ARYE	ENDED
		(Aited)ud	iteud	31.03.2019	31.03.2020	31.03.2019
	Ince fionat		(Ud)na	(Ad)udite	(Ad)udite	(Ad)udite
I	Opomromerse fionReat
	Opvenuromers	39,117.34	31,519.92	58,001.46	1,57,009.84	2,63,589.81
II	Other Income	2,601.44	2,232.80	3,078.14	363.329,	10,608.51
	Tol Infrtiotacomeomoperans	41188,7.7	3352.72,7	61,079.60	1,66,373.16	2,74,198.32
Ill	Expenses
	CoofMrial Cedstatea.onsum	24,475.76	17,285.38	32,817.07	92,513.04	1,58,425.88
	b.Puhaf Sck-inadto-trrcseoe	-	-	-	-	-
	Chs in irief finished gdsk-itoc.angenvens ooo, worn-d sck-idetotraprogressann-	(1,028.47)	1,114.71	1,335.00	1,290.15	(1,504.01}
	d.loybefitEmpeenes expense	5,913.33	5,630.79	6,231.19	23,063.92	26,620.76
	Finstse.anceco	8.58	1.02	23.92	41.65	99.49
	f.DeiationdAtisionatprecn amorexpense	1,250.47	1,259.60	1,025.22	5,025.90	4,983.47
	heOtr Eg.xpenses	10,021.55	7,187.64	14,364.80	37,788.08	53,205.68
	Total Expenses	40,641.22	32,479.14	55,797.20	1,59,722.74	2,41,831.27
IV	Profitbefoptionalitendtareexcems ax	1,077.56	1,273.58	5,282.40	6,650.42	32,367.05
V	ionalExIteptcems	5.46	204.30	6.65	209.76	3,716.75
VI	Profll befrdinativitiebefotaore oryacsrex	1,072.10	1,069.28	5,275\75	6,440.66	28,650.30
VII	Tax Expense	370.60	420.25	1,596.93	1,940.90	9,722.32
VIII	Net PfitfrOrdinativitiefter troomryacs aax	701.50	649.03	3,678.82	4,499.76	18,927.98
IX	Other Cehsive Ie/(Lo) (Afr T)teomprenncomssax
	Itehaillt blassifiedofitlos tt wtoa.mnoe recprorss	(2,723.32)	(181.40)	357.70	(3,396.78)	(824.87)
	b.Itehaillbeclassified tfitlos tt wmreo proorss	-	-	-
X	Tol Cehsive Ie fthriod(CoisitaomprenncomorepemprngProfit fthriod)(afte) andOthCehsivr torepeaxerompreneInce (af)ter tomax	(2,021.82)	467.63	4,036.52	1,102.98	18,103.11
XI	id-ityShCital (Falue'!: 10/h)PaEe Vupquareapac- eac	1,068.30	1,068.30	1,068.30	1,068.30	1,068.30
XII	ReEludingRaluatiRBalanservesxcevoneserves as perceShf pviingt onteereous accouyear				1,64,563.14	1,67,967 .96
XIII	ingSh(ofh)Eas Pe (EPS)10rnerareac
	sicBa	6.57	086.	34.44	42.12	174.15
	Diludte	6.57	6.08	34.44	42.12	174.15

Lakshmi Machine Works Limited

					('I:InL	akhsEPS)ptexce
			QuEndedtearr		Yendedare
SI.No.	Partilarcus	31.03.2020	31.12.2019	31.03.2019	31.03.2020	31.03.2019
		(Ad)udite	(Ud)uditena	(Ad)udite	(Ad)udite	(Ad)udite
1	Set Rgmenevenue
	a)TextileMachineDivisioryn	31,157.22	22,875.27	40,337.84	1, 18,980.64	1,91,627.74
	b)l &Mhine TFndDivisionacoooury	8,802.29	9,290.07	18,201.51	40,155.71	77,014.16
	c)AdedTechlogy Ctrevancnoen	853.21	844.11	1,008.72	3,325.65	3,456.55
	Tolta	40,812.72	33,009.45	59,548.07	1, 62,462.00	2,72,098.45
	LeIntntss:er-segmerevenue	928.63	970.78	754.56	3,231.13	4,854.36
	Net Sales/Ince fOtioomromperans	39,884.09	32,038.67	58,793.51	1,59,230,87	2,67,244.09
2	Set Rultgmeness
	(PfitbefoIn&x)testt arorere
	.:,)TextileMhiny Divisioacern	658.62	75(4.86)	2,397.43	936.66	15,179.83
	l &b)Mhine TFndDivisionacoooury	294.67	454.49	1,991.08	2,785.96	10,818.20
	c)AdedThnoloCtrev.:,ncecgyen	(642.55)	(2_91.09)	{444.49)	(1,643.25)	(1,428.01)
	Tolta	310.74	{312.46)	3,944.02	2,079.37	24,570.02
	Add: OthllobleinfUlloblenditut oerun-acacomenenacaexpe	761.36	1,381.74	1,331.73	4,361.29	4,080.28
	Total ProfitBefoTreax	1,072.10	1,069.28	5,275.75	6,440.66	28,650.30
3	Set Aetsgmenss
	a)TtllMachinDivisioexeeryn	1,38,721.88	1,39,478.80	1,54,587.22	1,38,721.88	1,54,587.22
	&b)MachineToolFodry Divisiounn	66,824.56	65,289.74	62,959.66	66,824.56	62,959.66
	c)Advd ThnoloCentanceecgyre	3,146.27	3,414.30	3,6.1866	3,146.27	3,18666.
	d)Ullodtenaca	25,486.91	25,153.09	21,444.61	25,486.91	21,444.61
	Tolta	· 2,34,179.62	2,33,335.93	2,42,657.67	2,34,179.62	2,42,657.67
4	Set Liabilitiesgmen
	a)TextileMhiny Divisioacern	56,816.47	55,049.47	60,262.72	56,816.47	60,262.72
	l &b)MhiTFndDivisiacneooouryon	9,368.08	9,330.78	12,691.86	9,368.08	12,691.86
	Cc)AdedThnolotrevancecgyen	776.70	1,248.74	565.48	776.70	565.48
	d)Ullodtenaca	1,586.93	53.68	101.35	1,586.93	101.35
	Tolta	68,548.18	65,682.67	73,621.41	68,548.18	73,621.41

LAKSHMI MACHINE WORKS LIMITED

Cash Flow Statement for the year ended 31st M arch 2020

(All amounts In INR lakhs, unless otherwise stated)

PARTICULARS	Yeded 3t Mch1s2020arenar		Yeded 3t Mch1s2019arenar
A.CASHFLOWFROMOPERATINGACTIVITIES
befoProfit aftetiol its buttar excepnaemrex		6,440.66		28,650.30
(VRSof(Ps)Ex00:209.76 Lakhs.Y.00:3716.75Lakhpenses
Adjusfotmtsenr :
Deciationdrtisatipren aamoonexpense	5,025.90		4,983.47
Finstsanceco	41.65		99.49
Shs bbackstsareuyco			162.27
Profit oalef aetsn soss	(9)15.28		(18),260.7
Loleoftsssonsaasse	1.22		41.02
Intt Ieresncome	(69),533.4		(61),461.4
Dividd ienncome	(555.73)		(431.96)
UnlisedLo/ (Gain)ForeiCy Ch andshuivalentreassongnurrencascaeqs	(0.21)	(2,935.94)	(0.06)	(2,867.96)
OpingPbefokinital chaat~terroreworg capnges		3,504.72		25,782.34
/ dAdjustmtsfor (ince)Inratingtsenreasecreaseopeasse
Tradeivablese rec	8,434.20		5,917.60
Invtorieens	3,376.10		(165.67)
Other fiialts-NCuntnancasseonrre	888.16		572.34
Othfincial aetsCntsseranurre-	855.82		(782.62)
Otr Chet aetsurrenss	1,176.52		(1,074.01)
jusfoe/(de)ingliabilitieAdtmtsr InInatencreasecreasopers
Tradablese pay	(44),058.8		(38),881.4
Otheliabilitientr noncurres	1,7.9057		(4,459.21)
Cuntisirreprovons	(440)1.8		(26).75
Other finaialliabilitiencs	(2,602.16)		1,319.46
Othet liabilitiesr curren	(1),213.68	8,172.22	(3,6)660.8	(60),241.2
Cashedin/ gd fionateatusenerromopers		11,676.94		19,541.14
Taaidxes p-		(3,050.21)		(7,061.56)
Net Ch udIn/edfrtioratassegeneomoperans	[A)	8,626.73		12,479.58
B.CASHFLOWFROMINVESTINGACTIVITIES
Purchf Fixed aets/Cital Wk In Pase ossaporrogress		(8,515.00)		(18,357.21)
Proeds fleoffixedtsceromsaasse		971.83		1,288.27
Intsteivedererec		4,837.13		6,748.13
Dividendivedrece		3555.7		431.96
fun&(net)Invtmt inMutualdsDebtuesenenres		(4),759.12		(5,3)100.3
(lne)/DeinBk balat csidedshndshuivalentcreascreaseanncesnoonerascaacaeqNeh ud In Itinivitiet cctassenvesg as	(BJ	(100)0.1(7,009.53)		17,965.512,976.33

PARTICULARS	Yedearen	d 31st Mch2020ar	Yeded 31st Mch2019arenar
C.CASHFLOWFROMFINANCINGACTIVITIES
Dividendaids p		(3,739.05)	(4,382.20)
Coe dividendaidrattarpoxes p		(768.75)	(900.98)
Trsfef UaidDividendIEPFs tanr onpo		-	(14.11)
Pat for bbackofshymenuyares			(15,948.22)
Pat fohabuy bk ct symenr sreacos		-	(162.27)
Finstanceco		{41.65)	(99.49)
infincinivitieNet ch udctasseang as	[C)	(45),549.4	(2)1,507.27
t iIniva(A+C)Neshd ch elents+Bncreasecaanasqu		(25),932.2	(66),051.3
Cashndshivalenbeginninf thiod• Dtsatacaequg oe per		6,079.65	12,131.01
Cashd ch eivalend of theriod -Etsatanasquenpe		3,147.40	6,079.65
Net in/ (d) inshd ch eivalen(E-0)tscreaseecreasecaanasqu		(2,932.25)	{6,051.36)
Cash&Ch eivalenr Balae Shetsetasquaspenc		3,147.61	6,079.71
UnalidLo/ (Gain)FoignCCashndshivalentsersessonreurrencyacaequ		(0.21)	(0.06)
CaCCaSshndh"uivalentshfltattaaseqs as perowemen		3,147.40	6,079.65

	('I!Inla	s)kh
	Stdaloan	ne
Partilacurs	Asat31.03.202~	Asat31.03.2019
	Audit	ed
SSSAET
Nonttsn-curreasse
Pr, PlanndEipmtyt atoperquen	64,878.06	63,571.5
Capitalk-inwor-progress	2,981.43	1,218.72
Other Intgibletsanasse	1,542.96	1,180.88
Fincial Aetansss
(i)Instmt sveen
a)Invtmtsinbsidiiesesensuar	6,513.67	6,513.67
b)Other itmt snvesen	4,735.76	7,332.33
(ii)Othfiialtsernancasse	27,192.22	40,470.5
fe(net)Ded ttsrreaxasse		455.3
Tol NCuAtantetson•rress	1,07,844.10	1,20,743.02
Cnttsurreasse
Invrietoens	27,416.26	30,792.3
Fincial Aetansss
	8,860.07	5,100.33
Invtmts(i)esen	11,932.29	20,366.4
Tradeivables(ii)e rec	3,147.61	6,079.65
(iii) Ch andshivalentsascaequ	58,754.18	46,263.8
(iv) B(iii)k balaother thabanncesanove	5,269.08	4,428.54
(v)Othfincial aetseranssCuTAs (Net)ntetrreaxss	5,292.10	2,042.95
Othenttsr curreasse	5,663.93	6,840.45
ATol Cetstantssurre	1,26,335.52	1,21,914.65
Total Aetsss	2,34,179.62	2,42,657.67
EQSUITYANDLIABILITIE
Equity	1,068.30	~,068,30
y SEquithapitalreca	1,64,563,14	1,67,967,96
OthEquitery	31.44	36.26
Equiibablef theCtyttruttoaownersoompany	1,65,6	1,69,0
Total eityqu	1,65,631M	1,69,036.26
LIABILITIES
liilitieNontabn-curres
Fincial Liabilitieans
(i)Bwiorrong
(ii)Defd tliabilit i(N)eterreaxes	1,485.57
(iii) Othntliabilitiernon-currees	6,806.33	5,048.43
Tol N• CLiabilitiestantonurre	8,291.90	5,048.43
Cliabilitienturres
Fincial Liabilitiesan
(i)Tdeblerapayas
DuMicndSll eisee tntoroamaerprs	136,30	43,41
DuOthe toers	33,933.41	38,085.3
(ii) Ot hfiial liabilitiesernanc	5,440.01	8,042.17
Prisiovons	1,162.35	1,604.15
Othliabilitiesntercurre	19,584.21	20,797.8
Tol CLiabilitiestanturre	60,256.28	68,572.9
Tol Liabilitietas	68,548.18	73,621.4
ityiabilitiesTotal EndLqua	2,34,179.62	2,42,657.67

S. KRISHNAMOORTHY & CO.

Chartered Accountants

'Kanapathy Towers' Ill Floor No. 1391/A-1, Sathy Road Ganapathy, Coimbatore· 641 006 Phone : 0422 4039900 P~RTNERS E-mail ; skmcoca@skmcoca.com

• K.N: SREEDHARA~ F-.C.A. K. RAGHU•F.C.A., A.C.S
• B. KRISH~AMOORTHI F.C.A.
• V. INDIRA F.C.A.

INDEPENDENT AUDITOR'S REPORT

TO

THE BOARD OF DIRECTORS OF LAKSHMI MACHINE WORKS LIMITED

• 1. We have audited t he accompanying Statement of Standalone Financial Results of Lakshmi Machine Works Limited (hereinafter referred to as "the Company") for the year ended 31.03.2020 ("the Statement"), being submitted by the Company pursuant to· the requirer-pents of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, . 2015, as modified by Circular No. CIR/CF_D/FAC/62/2016 dated July 5, 2016.
• · 2. This Statement, which is t he responsibility of t he Company's Management and approved by the Company's Board of Directors, has been compiled from the related standalone financial statements which has been prepared in .accordance with the Indian Accounting Standards prescribed under' Section 133 of the Companies Ac;t, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended ("Ind AS"), and other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on our audit of such standalone financial statements. ·
  • 1. We conducted our audit in accordance with the Standards on Aud.iting specified under Section 143(10) of the Companies Act 2013. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement.

An audit involves performing_ procedures to obtain audit evidence about the amount s· and the disclosures in the Statement. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.We believe that audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

...2

• 1. In our opinion and to the best of our information and according to the explanations given to us, the Statement:
  • a. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No.CIR/CFD/FAC/62/2016 dated July 5, 2016; and
  • b. gives a true and fair view in conformity with the recognition and m·easurement principles laid down in the aforesaid Indian Accounting . . Standards and other accounting pri_nciples generally accepted in India of the standalone net profit, total comprehensive income and other financial information of the company for the year ended 31st March 2020.
• 1. The statement includes the results for the quarter ended 31st March 2020 being the balan~ing figure between . audited figures in respect of the full financial year and published year to date figures upto the third· quarter of the current financial ye_ar subject to limited review by us. · ·

For S.Krishnamoorthy& Co. Chartered Accountants Firm Regn No. 001496S

t J--1'-'

K.Raghu Partner, Auditor Membership No.11178 uo1N: loo I' 1 '? AAAAB l

· Coimbatore . 25th May 2020

Lakshmi Machine Works Limited

Regd. Office: SRK Vldyalaya Post, Perianaickenpalayam, Coimbatore-64 1020

Phone : 0422-7192255; w ebsite : www.lmwglobal.com ; 'E M ail : secretarial@lmw.co.in

CIN: L29269TZ1962PLC000463

Statem	f ClidedAuditedfincialltsfohet oatr tenonsoanresu	Qndrteuar a	nded3year e	1sMch202tar	0
					("InLakhsptEPS)exce
SI.No.	Partilacurs	QUARTERENDED			YEARENDED31.03.202031.03.2019
		31.03.2020(Ad)udite	31.12.2019(Ud)uditena	31.03.2019(Ad)udite	(Ad)udite	(Ad)udite
	Ince fOpionatomromers
I	Ree fOpionatvenuromers	38,604.62	32,033.46	58,106.49	1,57,449.82	2,71,176.65
II	Other Income	2,608.43	2,228.39	2,958.65	9,399.91	10,243.19
	!Tol Infriotaratcomeomopens	.0541,213	534,261.8	5.61,0614	1,66,849.73	2,81,419.84
Ill	Expenses
	CoofCstMatialda.eronsume	24,060.03	17,127.02	32,703.66	92,462.17	1,61,898.08
	b.Purchf Sk-idetoctraase on-	-	-			-
	Chs in itorief finishedodrk-in-c.angenvens ogos,woprogressd sck-inadt-trano.e	(1,002.87)	1,632.80	1,295.79	1,564.74	(188.14)
	d.Emploe befitsyeenexpense	112.116,	5,845.73	6,520.98	231.3,976	27,83737.
	Finstse.anceco	8.73	1.09	28.16	60.53	116.56
	f.DeciationdArtitiopren amosan expense	1,364.04	1,382.92	1,164.71	5,525.84	5,535.49
	Other Eg.xpenses	10,106.91	7,321.80	14,395.93	38,337.01	54,244.01
	Tol Etaxpenses	40,648.95	33,311.36	56,109.23	1,61,921.65	2,49,443.73
IV	ofit befoiol itPrptndtareexcenaems ax	564.10	950.49	4,955.91	4,928.08	31,976.11
V	Expt ialIt eceonms	5.46	204.30	6.65	. 209.76	3,716.75
VI	Profit befrdinativitibefotaore oryacesrex	558.64	746.19	4,949.26	4,718.32	28,259.36
VII	Tax Expense	370.60	420.25	1,595.85	1,940.90	9,721.24
VIII	Net PfitfrOrdinativitiefter troomryacs aax	188.04	325.94	3,353.41	2,1.42n	18,538.12
IX	)Other Cehsive Ie/(Ls)(After Tomprenncomosax
	Itt hatillt blassifiedtoofit or loa.emswnoe recprss	(2,723.32)	(181.40)	357.70	(3,396.78)	(824.87)
	ifieofb.Itethatillbeclad tit or lomswressoprss	-			-
X	l C(CTotaehsive Ie fthiodislPfitomprenncomore peromprngrofoheriod)(afte) andOthCoheiveInr tr tpeaxermprenscome(a)fter tax	(2,535.28)	144.54	3,711.11	(619.36)	17,713.25
XI	10/-Paid-EityShaCapital(FaValuech)upqureceea	1,068.30	1,068.30	1,068.30	1,068.30	1,068.30
XII	Res EludingReluation Rr Balae Sheetservexcvaeservesaspencofiountiprevs accoungyear				1,64,967.30	1,69,962.30
XIII	Earnis PSh(EPS)(of10ch)ngerareea
	Basic	1.76	3.06	31.39	26.00	170.56
	Dilutde	1.76	3.06	31.39	26.00	170.56

Lakshmi Machine Works limited

Consolidated Segment Wise Revenue, Results and Capital employed for the quarter and year ended 31st March, 2020

						("InLakht EPS}• excep
	rtiPalarcus		QuteEndedarr			Yededaren
SI.No.		31.03.2020	31.12.2019	31.03.2019	31.03.2020	31.03.2019
		(Audited)	(Uudited)na	(Audited)	(Audited)	(Audited)
1	Set Rgmenevenue
	a)TtileMhinDivisioexaceryn	30,635.99	23,426.32	40,293.51	1,19,447.42	1,98,819.38
	l &blMhine TFndDivisiacooouryon	8,802.29	9,290.08	18,201.51	40,155.71	,014.1677
	c)AdedTechlogy Ctrevancnoen	853.21	844.11	1,008.72	3,325.65	3,456.55
	Tolta	40,291.49	33,560.51	59,503.74	1,62,928.78	2,79,290.09
	Le: Intentssr-segmerevenue	928.63	970.78	754.56	3,231.13	4,854.36
	t Ss/NealeInfrOtiocomeomperans	39,362.86	32,589.73	58,749.18	1,59,697.65	2,74,435.73
2	Set Rultgmeness
	(Profefo&x)it bIntsttareere
	a)TtileMhiny Divisioexacern	120.17	(779.37)	2,065.50	(810.66)	14,783.45
	l &b)Mhine TFndDivisiacooouryon	294.67	454.49	1,991.08	2,785.96	10,818.20
	cly CAdedTelogtrevanccnnoen	(642.55)	(291.09)	(444.49)	(1,643.25)	(1,428.01)
	Total	(227.71)	(6)15.97	3,612.09	332.05	24,173.64
	Unallablendituocexpere	786.35	1,362.16	1,337.17	4,386.27	4,085.72
	Total ProfitBefoTarex	558.64	746.19	4,949.26	4,718.32	28,259.36
3	Set Aetsgmenss
	a)TtileMhiny Divisionexacer	1,45,668.30	1,42,692.80	1,69,212.19	1,45,668.30	1,69,212.19
	l &b)Mhine TFndDivisiacooouryon	4.566,826	65,289.74	62,959.66	,824.5666	62,959.66
	c)y CAdedTechlogtrevancnoen	3,146.27	3,414.30	3,666.18	3,146.27	3,666.18
	d)Ullotednaca	18,973.24	25,153.09	9,830.61	18,973.24	9,830.61
	Tolta	2,34,612.37	2,36,549.93	2,45,668.64	2,34,612.37	2,45,668.64
4	Set Liabllitiesgmen
	a)TtileMhiny Divisioexacern	56,845.06	57,477.99	61,279.35	56,845.06	61,279.35
	l &b)Mhine TFndDivisiacooouryon	9,368.08	9,330.78	12,691.86	9,368.08	12,691.86
	c)AdedTechlogy Ctrevancnoen	776.70	1,248.74	565.48	776.70	565.48
	d)Unalldateoc	1,586.93	53.68	101.35	1,586.93	101.35
	Tolta	68,576.77	68,111.19	74,638.04	68,576.77	74,638.04

LAKSHMI MACHINE WORKS LIMITED

Consolidated Cash Flow Statement for the year ended 31st March 2020

(All amounts in INR lakhs, unless otherwise stated)

ICSPARTULAR	Yended31st Mare	ch2020ar	Yended31st Mare	ch2019ar
A.CASHFLOWFROMOPERATINGACTIVITIES
offtefoPrit atiol its butbetar excepnaemrex		4,718.32		28,259.36
(VRSEf~209.76Lakhs(P.Y."3716.Lakhs)75xpenses o
Adjusfotmtsenr :
Deiationd atisionatprecanmorexpense	5,525.84		5,535.49
Finstsanceco	60.53		116.56
Shs bbackstsarecouy	-		162.27
ofiofPrt oaletsn sasse	(916.67)		(1,260.78)
Loleoftsssonsaasse	1.22		41.02
Intt ieresncome	(6,543.28)		(6,491.28)
Dividendincome•	(555.73)		(431.96)
Invtmtsritteffesenwn o	-
UnlisedLo/ {Gain)n Feign Cy Ch andshuivalentsreassoorurrencascaeq	(0.21)	(2,428.30)	(0.06)	(2,328.74)
OpatiPfitbeforkipitalcherrorewocaans		90.02		250.62
ngngger (e)/ dAdjustmtsfoincintinetsenreasecreaseorass		2,2		,93
peg aTradeivablese rec	8,523.12		06.16
Invtorieens	3,741.13		5,42,036.76
Othfincial a-NCetsteranssonurren	888.80		572.98
Other fiialCts-tnancasseurren	855.82		82.62
Other Ct aetsurrenss	83.42		(7)55.87
Adjufor ie/(d) iingliabilitiestmtsratenncreasecreasen os	1,2		(7)
peTradables	(4,277.20)		4.4
e payOtheliabilitientr noncurres	57.90		(5,638)
Prisio	1,7		(4,459.21)
ovnsOthfincial liabilitieseran	(441.80)(2,805°.66)		(25)6.7319.19
Othentliabilitier curres	(1,486.01)	8,039.52	(5,130.85)	(8,454.69)
Cashededfrionin/ gatatuseneromopers		10,329.54		17,475.93
Taaidxes p		(2,930.09)		(7,596.56)
t Cin/Neh udratedfrtioassegeneomoperans	!Al	7,399.45		9,879.37
B.CASHFLOWFROMINVESTINGACTIVITIES
Purchf Fixed ats/CapitalWk IPrase osseornogress		(8,525.54)		(18,504.58)
froffixPrdsleedtsoceeomsaasse		971.83		1,288.27
Intivedt reeresce		4,846.92		6,778.00
Dividendivedrece		555.73		431.96
Purchf Instmtsase oveen		(4,759.12)		(5,100.33)
(lne)/Dee in Bk balasidedshndsht ccreascreasanncesnoonerascaacauivalent		.63
eqNeh ud in itinivitiet cct		(87)		178,977.9
assenvesg as	[Bl	(6,997.81)		2,871.30

ded31stMch2019arenar
(1.73)
(4,382.20)
(900.98)
(14.11)
(15,948.22)
(162.27)
(116.56)
(21,526.07)
(8,775.40)
18,311.57
9,536.17
(8,775.40)
9,536.23
(0.06)
9,536.17

	InLa	kh
s)("!Coolidated
Partilarcus	nsAs31.03.20201at	As31.03.2019at
	Audit	ed
ASSETS
Nonttsn-curreasse
Pr, PlanndEiptyt atoperqumen	69,530.17	68,711.6
Capitalrk-inwo-progress	2,981.43	1,218.72
Other Intgibletsanasse	1,542.96	1,180.87
Fincial Aetsanss
In(i)stmtsveen
a)Invtmtsinbsidiiesesensuar
b)h er i0ttmtsnvesen	4,735.76	7,332.33
Other fiial(ii)tsnancasse	27,192.22	40,471.2
fe(n)Ded ttsetrreaxasse		4S5.3
Tol NCAtantetsonurress-	1,05,982.54	1,19,370.12
Cnteturreasss
Invrietoens	28,849.08	32,S90.U
Fincial Aetsanss
(i)Invtmtsesen	8,860.07	5,100.33
(ii)Tradeivablese rec	10,741.78	19,264.9
(iii) Ch andshivalentsascaequ	5,075.48	9,536.23
(iv) Bk balathth(iii)abanncesoeranove	58,754.18	46,263.8
(v)Othfincial aetseranss	5,269.08	4,428.54
CuTax As (Net)ntetrress	5,292.10	2,042.95
Othenttr curreasses	5,788.06	7,071.48
I CTotantAstsurrese	1,28,629.83	1,26,298.52
Tol Ataetsss	2,34,612.37	2,45,668.64
EQSUITYANDLIABILITIE
Equity
EquitShitalyare cap	1,068.30	1,068.30
Other Eityqu	1,64,967.30	1,69,962.30
Equitibablef theCttruttoy aownersoompany	1,66,035.60	1,71,030.60
Tol eitytaqu	1,66,035.60	1,71,030.60
SLIABILITIE
Nontliabilitien-curres
Fincial Liabilitieans
(i)Bwiorrong		294.21
(ii)Defd tliabilities(N)eterreax	1,485.57
(iii) Othntliabilitiesernon-curre	6,806.33	5,048.43
CiabilitieTotal NntLonurres-	8,291.90	5,342.64
Cut liabilitierrens
Fincial Liabilitianes
(i)Tdeablesrapay
DuMicd Sll eisee tntoroanmaerprs	136.30	43.41
OtDue theors	33,120.95	37,491.05
(ii) Othfincial liabilitieseran	5,964.29	8,769.95
Prisiovons	1,162.35	1,604.15
Othntliabilitieercurres	19,900.98	21,386.84
Tol CLiabilitiestanturre	60,284.87	69,295.40
Tol Liabilitiesta	68,576.77	74,638.04
Total Eityndliabilitiesqua	2,34,612.37	2,45,668. 64

. \

Notes:

4

• 1 The audited standalone and consolidated financial statements for the quarter/ year ended 31st March 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 25th May 2020. The statutory auditors have expressed an unqualified audit opinion.
• 2 The Board has recommended a final dividend of 10 per share (of the face value of~ 10 each) for the year 2019-20 subject to the approval of the shareholders in Annual General' Meeting.
• 3 Exceptional items represent a compensation of~ 209.76 lakhs towards Voluntary Retirement Scheme opted for by employees.(Previous year~ 3,716.75 lakhs.)

The outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. On 24th March 2020, the Government of India ordered a 11ationwide lockdown which got extended till 31st May 2020 to prevent community spread of COVID-19 in India resulting in significant reduction in economic activities. In assessing the recoverability of

• Company's assets such as Investments, Trade receivable, Inventories etc. the Company has considered internal and external information upto the date of approval of these financial results and expect to recover the carrying amount of the assets.
• 5 Figures for the previous quarter/year have been regrouped / rearranged wherever necessary. The figures for the quarter ended 31st March 2020 are the balancing figures between the audited figures of the full financial year and the reviewed year -to- date figures upto the third quarter of the financial year.

For S.KRISHNAMOORTHY & CO'. shmi Machine Works Limited Chartered Accountants 'r.._l-A- K.RAGHU Membership No.11178 Partner Coimbatore 25-May-2020 C:WC¾$ Managing Director

Chartered Accountants

TO

S. KRISHNAMOORTHY & CO. 'Kanapathy Towers' Ill Floor No. 1391/A-1, Sathy Road Ganapathy, Coimbatore· 641 006 Phone : 0422 4039900 PARTNERS E-mail : skmcoca@skmcoca.com

K.N. SREEDHARAN F.C.A. K_. RAGHU F.C.A., A.C.S B. KRISHNAMOORTHI F.C.A. V. INDIRA.F.C.A.

INDEPENDENT AUDITOR'S REPORT

THE BOARD OF DIRECTORS OF LAKSHMI MACHINE WORKS LIMITED

• 1. We have audited the accompanying Statement of Consolidated Financial Results of Lakshmi Machine Works Limited (hereinafter referred to as "the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the year ended 31.03.2020 ("the Statement"}, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015, as modified by Circular No CIR/CFD/FAt/62/2016 dated July 5, 2016.
• 1. This Statement, which is · the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been compiled from the related consolidated financial statements which has been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended ("Ind AS"}, and other accounting principles generally accepted in India. Our responsibility is to express an opin_ion on the Statement based on our audit of such consolidated financial statements.
• 1. We conducted our audit in accordance with the Standards on· Auditing specified under Section 143(10} of the Companies Act 2013. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain re.asonable . assurance about whether the Statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. An audit also includes evaluating the appropriateness of the accounting · policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement. We believe that the audit evidence obtained by us and the audit evidence obtained by other auditors in terms of their reports referred to in paragraph 5 be_low, is sufficient and appropriate to provide a basis for our audit opinion.

. .. 2

, . ..

• 1. In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statements and the other financial information of the subsidiary, referred to in paragraph 5 below, the Statement:
  • a. includes the result of the following ~ntities: LMW Textile Machinery (Suzhou) Co. Limited

_

• b. is presented in accordance with the requirements of Regulation 33 of the S!:Bl (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No.CIR/CFD/FAC/62/2016 dated July 5, 2016; and
• c. gives a true and fair view in conformity with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the _ consolidated net profit, total comprehensive income and other financial information of the company for the year ended 31st March 2020.
• 1. We did not audit the financial statements of one subsidiary included in the consolidated financial results, whose financial statements reflect total assets of Rs18,832.61 lakhs as at 31st March 2020, .total turnover of Rs.1,909.61 lakhs, total riet loss before tax of Rs; 1,618.51 lakhs for the year ended on that date, as considered in the consolidated financial results. These financial statements have been audited by other auditors an_d _have been furnished to us by the Management and our opinion on the Statement, in so far· as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on the reports of the other auditors. In our opinion _ and according· to the information and explanations given to us by the Management, these interim financial statements are not material to the Group.

Our opinion on the Statement of Consolidated Financial Results_ is not modified in respect of the above matter.

1. The statement includes the results for the quarter ended 31st March 2020 being the balancing figure between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the current financial year subject to limited review by us.

Coimbatore 25th May 2020

..

For S.Krishnamoorthy & Co. Chartered Accountants Firm Regn No. 001496S

r~ K.Raghu Partner, Auditor Membership No.11178 UDIN: !l..00 "\1 g'7f)Af{BZ3~'1,