LMW to raise textile machinery production to 3.5mn spindles
20 Jun '07
1 min read
Lakshmi Machine Works enjoys a market share of 55 percent in the domestic textile spinning machinery industry.
The fourth quarter of the financial year 2007, has recorded a very good sale. Net sales during this period grew 48 percent at a year on year basis to Rs5,821 million, showed a strong growth in the textile machinery division which contributed upto 89 percent of the sales.
Company sources told Fibre2fashion, “We are undergoing an expansion to increase textile machinery production from 2.3 million spindles in Financial Year 2007 to 3.5 million spindles in fiscal 2008. For mother machine we are importing machine tools to meet the proposed expansion plan. This project is of 2-3 years with investment of 400 crore rupees.”
The official also stated that, the company is not affected by the appreciation of rupee, as much, but its customers in yarns and garment industry are facing a hard time.
Lakshmi Machine Works competes with international players like Rieter from Switzerland, Trutzschler of Germany, Marzoli in Italy and its national competitors are Kirloskar Toyoda and Trumac India.
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