1. Opening Hook
Just when Indian manufacturing thought the cycle might turn, LMW walked into Q2 FY26 like a parent-teacher meeting—numbers decent, but a lot of “needs improvement” on the textile side. Even the CFO sounded like he wanted to send a polite memo to global mills: “Please revive soon, regards.”
Meanwhile, machine tools partied at 70% utilization, while textile machinery continued its spiritual tapasya at 40–45%. As the Guru Granth Sahib gently reminds, “Patience and discipline lead to the right path”—LMW seems to be taking that literally.
Strap in—things get much spicier ahead.
2. At a Glance
- Revenue (Q2) – ₹790 cr – Jumped 15%, like mills briefly woke from hibernation.
- H1 Revenue – ₹1480 cr – Up 5%; growth slower than textile CapEx approvals.
- PBT – ₹92 cr – Includes a surprise guest star: ₹15 cr profit from asset sale.
- TMD H1 Revenue – ₹876 cr – Down 8%; still stuck in a deep CapEx winter.
- Machine Tool + Foundry H1 – ₹555 cr – The true hero segment, up strong.
- Order Book – ₹2700 cr – But only ₹1400 cr “active” (rest chilling).
- Utilization: TMD 40–45%, MTD 70% – Classic tale of two divisions.
3. Management’s Key Commentary
Quote: “We are in one of the longest down cycles in textile CapEx.”
(Translation: Mills ghosted us harder than a bad Tinder match.)
Quote: “Tariffs, GST changes and PLI transitions delayed decision-making.”
(Translation: Policy roulette made customers postpone everything.)
Quote: “Exhibition saw strong inquiries from Egypt, Indonesia, Bangladesh.”
(Translation: Not everyone is asleep—some markets sent ‘U up?’ texts 😏.)
Quote: “Machine tool growth is structural, not cyclical.”
(Translation: Finally, a segment that behaves like an adult.)
Quote: “New carding machine (LC9S), draw frame (LDF6) and 2400 spindle ring
