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 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

January 2017

January 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