LMW Ltd.

YEAR                                                          EVENTS
 1962 - The company was incorporated on 14th September, at Chennai. 
 It
        manufactures textile machinery.
 
 1963 - Shares subscribed for in cash by promoters, Directors, their
        friends and associates.
 
 1964 - Further 1,221 shares subscribed for by directors etc.  30,000
        shares reserved for Rieter Machine Works Ltd.  20,000 shares
        reserved for IFCW.  1,00,000 shares offered to public during
        February 1964.
 
 1968 - 30,133 shares allotted to technical collaborators (384 in
 1965,
        16,265 in 1966, 5,000 in 1967 and 5,021 in 1968).
 
 1971 - Further 10,000 shares issued to the technical collaborators
        during 1971-72.
 
 1979 - 60 forfeited shares reissued at market price.
 
 1980 - Government approved the Company's collaboration agreement
 with
        Rieter Machine Works, Ltd. Switzerland for the manufacture of
        improved and sophisticated ring frame Rieter Model G5/1 the
        first of which was delivered in November 1982.
 
      - The Company also finalised technical collaboration agreements
        with Rieter Machine Works, Ltd., Switzerland for the
 manufacture
        of open end spinning machines and with Investa Czechoslovakia
 for
        the supply of spinning units.
 
 1981 - 1,52,394 bonus shares issued in prop. 3:5.
 
 1982 - The Government permitted the Company to manufacture 150 nos.
 of
        open end spinning machines within the overall licensed
 capacity
        and approved the collaboration agreement with Rieter Machine
        Works, Ltd. Switzerland.
 
      - In January the Company was granted a letter of intent for the
        establishment of a pilot mill with 3,000 spindles at its
 existing
        site at Perianaickenpalayam (Coimbatore) for research and
        development purposes.
 
 1984 - A letter of intent was received for the manufacture of 200
 metal
        cutting and printing machines at Unit II at Kariyur village.
 
 1986 - The Machine Tool Division which had been recently
 established,
        converted a letter of intent received into an industrial
 licence
        for the manufacture of CNC lathes and CNC machinery centres.
        Design documents pertaining to the project were received from
 the
        collaborators Movi Seuki Co., Ltd. Japan.
 
 1989 - The Company was concentrating on the replacement market as
 most
        of the machinery supplied by the company in the earlier years
        were due for replacement.
 
      - The machine tool division introduced into the market CNC
 machines
        viz. MV-Junior and SL-3 models.  The manufacture of other
 models
        was also being taken up.
 
      - The Company entered into a collaboration agreement for
 advance
        technology in the manufacture of open end rotors spinning
        machines with M/s. Schubert & Salzer, Ingolstadf, West
 Germany.
        This project was under implementation.
 
      - 2,03,192 bonus shares issued in prop. 1:2.
 
 1990 - Government's approval was received for the Company's
 investment
        in the equity capital of Pugoda Textiles Lanka Ltd., Sri
 Lanka.
 
 1992 - The Company jointly with Rieter Machine Works Ltd.,
 Switzerland
        (RMWL) set up a new company under the name of Rieter-LMW
        Machinery Ltd., as a 100% export unit for the manufacture of
 G5/3
        family ring of frame assemblies for buy-back by RMWL.
 
 1993 - The Company established a modern foundry division at Arasur
 for
        manufacture of Grey Iron Castings of grade 20, 25 and 30
 using
        chemical bonded process for captive requirement and also to
 meet
        the fast growing engineering sector in India and abroad.
 
 1995 - The company had entered into a long-term partnership with
 Mikron
        of Switzerland for manufacture of the universal milling and
        boring Mikron machines for their world market.
 
 1996 - The Company undertook to set up a second unit at Kaniyur
 village,
        23 kilometers from Coimbatore.
 
      - As on 31st March, the Company held 45,00,000 No. of equity
 shares
        of Rs 10 each of the issue capital of the Sri Lanka company.
 
 1997 - 6,09,576 bonus shares issued in prop. 1:1.
 
      - Work at unit II of the textile machinery division of Lakshmi
        Machine Works Ltd (LMW), located at Kaniyur near here, has
 been
        hit due to failure of the management and the workers to reach
 a
        revised wage accord.  The workers had called a strike on
        September 15 following failure of Kaniyur LMW Unit Workers &
        Staff Union and the management to arrive at a consensus on
        revising the previous five year settlement which came to an
 end.
 
      - In a bid to cut down burgeoning administrative costs, the
        textile machinery major, Lakshmi Machine Works Ltd has
 offered
        the voluntary retirement scheme (VRS) to its employees.
 
 1998 - The new product range introduced by LMW comprises the
        high-speed CNC machines in the Pilatus range, high-power CNC
        lathe in the Rigi range, vertical machining centres in the
 Kodi
        range, Ooty 40, which is the all-new horizontal machining
        centre and a mould-making machine, Kodi Mould 50.
 
      - LMW, which is one of the biggest investors in the machine
 tools
        business, especially in the last decade, has so far invested
        about Rs.50 crores in updating its manufacturing facilities.
 
      - Sisco is a joint sector company promoted by LMW and Tamilnadu
        Industrial Development Corporation (Tidco) to set up a
        steel-making project.
 
      - The new machines being introduced includes high speed CNC
        machines in the Pilatus range, and machines in the Kodi and
 Ooty
        range.  The company bagged the Machinist award for the most
        innovative display at the recently concluded Imtex 98.
 
 1999 - Lakshmi Machine Works Ltd (LMW), is one among three companies
 in
        the world to manufacture the entire range of spinning
 machinery.
 
      - Lakshmi Machine Works Ltd (LMW), a pioneer in the manufacture
 of
        spinning machinery, has coined a new theme and logo `Spinning
        Value', in-addition to its existing logo `goddess Lakshmi'
 and
        the theme, Spinning System.
 
      - The textile show is scheduled between June 1 and 10 at Paris.
        Held once every four years at various venues around Europe,
        ITMA provides a platform for display of the latest products
 by
        major manufacturers the world over.  This is the first time
 that
        LMW will be displaying its latest innovations at ITMA.
 
      - LMW was the first Indian company to introduce the automatic
 bale
        plucking machine `Flexifloc' in the blowroom, which surpassed
 any
        other bale plucking machine in the world.
 
      - The company has developed four state-of-the-art machines such
 as
        automatic bale plucking machine Flexifloc, carding machine
        LC300A, speed frame LFS 1660, and ring frame XLA30.
 
      - Southern Iron and Steel Company Ltd (Sisco), a joint sector
        project promoted by Lakshmi Machine Works Ltd (LMW) and
 Tamilnadu
        Industrial Development Corporation Ltd (Tidco), mulls setting
 up
        a coke over project near its existing facility to ensure
        availability of quality inputs for its steel plant.
 
      - The collaboration agreement between the textile machinery
        manufacturing major, Lakshmi Machine Works Ltd (LMW) and
 Rieter
        Machine Works Ltd, Switzerland (Rieter) has lapsed, following
        which the Rieter nominees on the LMW Board have resigned.
 
      - The company proposes to carry on the business of developers,
        purchasers, consultants and technical advisors in the field
 of
        computers, computer software, information and management
        systems, development and dealing in computer programmes,
        application systems, maintenance, software development and to
        depute personnel to develop and process software and hardware
        and other electronic items in India and abroad.
 
      - Ailing India Precision Bearings (IPB) is merging with the
        country's largest textile machinery manufacturer Lakshmi
 Machine
        Works (LMW), according to top level sources at LMW.
 
      - It has merged India Precision Bearing Manufactures with
 itself
        with effect from April.
 
      - The company was the largest supplier of ring spinning machines
 in
        the world with over 12 millions spindles in operation.
 
      - Textile machinery manufacturing major, Lakshmi Machine Works
        Ltd (LMW) has chosen the International Textile Machinery
        Association's (ITMA) textile show as the launch pad for its
 new
        products.
 
      - The leading textile machinery manufacturer in India, Lakshmi
        Machine Works (LMW), has designed and developed new
 generation
        machines for the millenium.  These machines have been
 fabricated
        through the in-house R&D facilities set to meet international
        parameters of end-products.
 
 2000 - The Company has launched two CNC machines -- Smarturn and
 Smash
              directly in the market.
 
 2003
 
 -Board approves for the acquisition of wholly owned subsidiaries of
 the company - LMW Investments Ltd and Deejay Leasing Company Ltd.
 
 -LTE Industries acquires 12000 shares amounting to .984% of LMW Ltd.
 
 -Stocks appreciated by about 65%.
 
 -Charges Rs.8.3 crs for the dimunition in the value of investments.
 
 -Offers 1:200 swap ratio or cash option of Rs.10 for each Textool
 share for its merger with the company.
 
 -Board of Industrial Finance and Reconstruction approves for the
 merger of Textool Company with LMW Ltd.
 
 2004
 
 -Sri R R Nair has been appointed as Nominee Director of LIC 
 
 -Lakshmi Machine Works recommends 100% dividend 
 
 2005
 
 -K. Duraisami was appointed as Company Secretary & Compliance Officer
  of the Company
 
 -Lakshmi Machine has recommended a Dividend of Rs 150 per Equity
 Share of Rs 100 each.
 
 2006
 
 - Lakshmi Machine received the National Award for `Excellence in
 Water Management'.
 
 -Company has splits its Face value of Shares from Rs 100 to Rs 10
 
 2007
 
 -Lakshmi Machine has recommended interim dividends of Rs 40/- per
 share.
 
 2008
 
 -Lakshmi Machine has recommended a final dividend of Rs 25/- per
 equity
 
 2009
 
 -LMW introduces new LR9 series of ring frames that are built with
 1,632 spindles.
 
 2010
 
 -Lakshmi Machine Works forays into China
 
 2011
 
 -The company has recommended a Dividend of Rs. 30/- per Equity Shares
 of Rs. 10 each 
 
 2012
 
 -Lakshmi Machine was awarded by EEPC INDIA Export for highest growth
 in exports.
 
 -The company has recommended dividend of Rs. 25/- per equity share &
 Rs. 10/- each and a Golden Jubilee dividend of Rs. 25/- per share. In
 the aggregate Rs. 50/- per share is recommended.
 
 2013
 
 - LMW showcased the Lakshmi Suction Compact Retrofit system in the
 recently held Texfair 2013 exhibition which was organised by SIMA
 held at Codissia.
 
 - The Board of Directors of the Company appointed Mr. Basavaraju as
 an Additional Director
  during the year
 
 - The Board has recommended dividend of Rs. 20/- per equity share at
 Rs.10/- each.
 
 -  The Company has concluded a Joint Development Agreement with M/s.
 Sobha Developers Limited, Bangalore for the design, development and
 construction of residential apartments at the Companys land situated
 in Coimbatore.
 
 2014
 
 - LMW showcased Latest Innovations at ITMA ASIA + CITME 2014
 Exhibition, Shanghai, China.LMW, the totally integrated spinning
 system supplier is dedicated to 'Innovation and Value Creation' for
 the customer in every product and service.
 
 -India’s largest textile machine manufacturer Lakshmi Machine Works
 (LMW) has opened a new plant in the industrial hub here, gaining a
 foothold in the world’s biggest textile market of China.
 
 - Lakshmi Machine Works (LMW) has introduced the new version or model
 of 3 machines like JV Kraft, LVS25 as well as Smarturn LT at the 15th
 edition of Intec 2014.
 
 - Lakshmi Machine Works and Veejay Lakshmi Engineering Works Limited
 inks Technology Transfer Agreement.
 
 2015
 -LMW's participation at ITMA 2015, Milan, Italy
 -LMW's participation at Shanghaitex 2015, Shanghai, China
 -LMW was the first to launch World’s fastest comber LK69 
 -Ergonomically designed Drawframe LDAZ equipped with Duo digital
 
 2016
 -LMW's successful demonstration of New Products of India ITME 2016.
 -Launch of New innovation with automation and energy efficient
 spinning soultuions at INDIA ITME.
 
 2020
 -CII Awards LMW With  The Most Innovative Company Of The Year 2020.
 
 2021
 -Best Metal Cutting Brand - 2021 Awarded by Economic Times
 consecutively for two years now.
 
 2022
 -Lakshmi Machines awarded Best Metal Cutting Brand 2022.