Home / Knowledge / News / Textiles / LMW Chinese subsidiary to turn profitable
LMW Chinese subsidiary to turn profitable
May '11
The Coimbatore-based Lakshmi Machine Works (LMW) expects its wholly owned China-based subsidiary LMW Textile Machinery (Suzhou) Co Ltd., to turn profitable in 2011-12.

LMW has already invested nearly US$ 5 million in its Chinese subsidiary which started its operations in September 2010. The company has announced that it will put a limit on its Chinese subsidiary at one million spindles per annum.

The textile machinery maker has reported net profit of Rs. 442 million for the fourth quarter of 2010-11 as against a profit of Rs. 306.8 million during the same period in 2009-10.

The company's total income during the quarter also rose to Rs. 5.39 billion from Rs. 3.63 billion in the same period a year ago.

During the current financial year, the company expects to make operating profit margins on account of recent increase in prices by 3 to 7.5 percent. This will enable the company to sustain its current 17-18 percent growth rate.

Rieter-LMW Machinery (RLM), a joint venture of LMW, has already turned profitable and LMW plans to turn it into a wholly owned subsidiary shortly, which its plans to fully acquire by June-July 2011.

Post-acquisition, LMW will be able to fully utilize RLM's capacity of one million ring frames.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Victor Chao

‘In future, clothing boundary lines will become increasingly blurred.’

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search