MIRA INFORM REPORT

Report No. :	488353
Report Date :	25.01.2018

IDENTIFICATION DETAILS

Name :	LAKSHMI MACHINE WORKS LIMITED
Registered Office :	Perianaickenpalayam, SRK Vidyalaya Post, Coimbatore – 641020, Tamilnadu
Mobile No.:	91-9894306126 (Mr. Parthiban)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	14.09.1962
Com. Reg. No.:	18-000463
Capital Investment / Paid-up Capital :	INR 109.555 Million
CIN No.: [Company Identification No.]	L29269TZ1962PLC000463
IEC No.:	0488001544
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACL5244N
GSTIN/UIN :	Not Divulged
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges
Line of Business :	Subject is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry. (Registered Activity)
No. of Employees :	3400 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A++

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default

Maximum Credit Limit :	USD 43955000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 1962 and it is engaged in the manufacturing and selling of textile spinning machinery and CNC Machinery tools and components. For the financial year 2017, the company has marginal decreased its revenue from operations as compared to previous year and maintained decent profit margin of 7.84%. Rating takes into consideration strong financial profile of the company marked by healthy networth base along with zero debt structure. The ratings draw strength from its well-established track record of business operations and extensive industry experience of promoters in machinery segment. Share price are quoted high on stock exchange (Share Price of INR 6202 with Face Value of INR 10). Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view of established market position, the company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (31.06.2017)	Current Rating (30.09.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 25.01.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Mr. Parthiban
Designation :	Finance Department
Contact No.:	91-9894306126
Date :	24.01.2018

(Tel No.:91-422-3022255 – Number is continuously ringing)

LOCATIONS

Registered Office/ Textile Machinery Division- Unit – I: :	Perianaickenpalayam, SRK Vidyalaya Post, Coimbatore – 641020, Tamilnadu, India
Tel. No.:	91-422-2692371/72/ 3022255/ 3021300
Mobile No.:	91-9894306126 (Mr. Parthiban)
Fax No.:	91-422-2692541/42
E-Mail :	regd.off@lmw.co.in shivkumaran.c.r@lmw.co.in secretarial@lmw.co.in
Website :	www.lakshmimach.com
Locality :	Commercial cum Industrial
Corporate Office :	34-A, Kamaraj Road, Coimbatore – 641018, Tamilnadu, India
Tel. No.:	91-422-2221680/ 82-87/ 3028100
Fax No.:	91-422-2220912
Textile Machinery Division:
Unit – II:	Kaniyur, Coimbatore – 641659, Tamilnadu, India
Unit –III:	Muthugoundenpudur, Coimbatore - 641406, Tamilnadu, India
Other Divisions:	Machine Tool Division: Arasur, Coimbatore - 641 407, Tamilnadu, India Foundry Division: Arasur, Coimbatore - 641 407, Tamilnadu, India Foundry and Machine Shop: Arasur, Coimbatore 641 407, Tamilnadu, India Advanced Technology Centre: Ganapathy, Coimbatore – 641 006, Tamilnadu, India Wind Mill Division: Udumalpet (TK), Tirupur District:, Tamilnadu, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Sanjay Jayavarthanavelu

Designation :

Managing Director

Address :

"Shell House", No.695, Avanashi Road, Coimbatore – 641037, Tamilnadu, India

Date of Appointment :

10.09.2010

DIN No.:

00004505

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U55101TN2005PTC055586	ALAMPARA HOTELS AND RESORTS PRIVATE LIMITED	26/09/2012	-
L17111TZ1981PLC001109	SUPER SALES INDIA LIMITED	26/11/1989	-
L31200TZ1981PLC001124	LAKSHMI ELECTRICAL CONTROL SYSTEMS LIMITED	21/06/1989	-
U52599TN1991PLC021857	LAKSHMI CARGO COMPANY LIMITED	03/03/2004	-
L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	30/07/2010	-
U17111TZ1968PLC000583	LAKSHMI TECHNOLOGY AND ENGINEERING INDUSTRIES LIMITED	13/05/1992	-
U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	19/06/1992	-
L17111TZ1910PLC000093	THE LAKSHMI MILLS COMPANY LIMITED	22/09/2010	-
U29199TZ2009PLC015340	QUATTRO ENGINEERING INDIA LIMITED	22/08/2012	-
U73100TZ2009PLC015463	LAKSHMI LIFE SCIENCES LIMITED	22/08/2012	-
U92419TZ2017NPL028402	COIMBATORE RIFLE CLUB	10/04/2017	-

Name :

Mr. Kandaswamy Soundhar Rajhan

Designation :

Whole-time Director

Address :

12, North End Road, Krishnaswamy Nagar, Ramanathapuram, Coimbaotre – 641045, Tamilnadu, India

Date of Appointment :

21.12.2017

DIN No.:

07594186

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29290MH1973GAP016420	INDIAN MACHINE TOOL MANUFACTURERS ASSOCIATION	23/09/2016	-

Name :

Mr. Pathy Sundaram

Designation :

Director

Address :

Rasakondalu Circuit House Road, Coimbatore – 641018, Tamilnadu, India

Date of Appointment :

21.03.1973

DIN No.:

00013899

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U01214TZ1987PTC001994	SANS CRAINTES STUD FARM PRIVATE LIMITED	25/06/1987	-
U01211TZ1990PTC002766	SANS CRAINTES LIVESTOCK PRIVATE LIMITED	22/06/1990	-
U17115TZ1943PTC000025	COIMBATORE LAKSHMI COTTON PRESS PRIVATE LIMITED	10/02/1984	-
U32209TZ1991PTC003329	SANS CRAINTES RACING AND BLOOD STOCK PRIVATE LIMITED	10/07/1991	-
U17219TZ1960PTC000343	LAKSHMI CARD CLOTHING MFG. COMPANY PRIVATE LIMITED	27/03/1975	-
U65993TZ1994PLC004818	LCC INVESTMENTS LIMITED	31/01/1994	-
L29269TZ1973PLC000680	LAKSHMI AUTOMATIC LOOM WORKS LIMITED	15/12/1973	-
U45201TZ1997PTC007827	RASAKONDALU DEVELOPERS PRIVATE LIMITED	02/04/1997	-
L17111TZ1910PLC000093	THE LAKSHMI MILLS COMPANY LIMITED	27/09/1995	-
U40109TZ2008PTC014899	SANS CRAINTES POWER PRIVATE LIMITED	02/12/2008	-

Name :

Mr. Aditya Himatsingka

Designation :

Director

Address :

129, 10th Main Road , 6th A Cross, RMV Extension, Bangalore – 560080, Karnataka, India

Date of Appointment :

25.10.2010

DIN No.:

00138970

Name :

Mr. Mukund Govind Rajan

Designation :

Director

Address :

202 A, Baktavar Lower Colaba Road, Mumbai – 400005, Maharashtra, India

Date of Appointment :

10.08.2011

DIN No.:

00141258

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U85110MH2000PLC128425	TATA AIG GENERAL INSURANCE COMPANY LIMITED	27/07/2017	-
U62200DL2013PLC259904	TATA SIA AIRLINES LIMITED	05/11/2013	-
U74999MH2015NPL262710	TCS FOUNDATION	04/07/2016	-
U74900MH2015NPL263425	THE RAJAN FAMILY CHARITABLE FOUNDATION	11/04/2015	-

Name :

Mr. Arun Alagappan

Designation :

Director

Address :

17, Chittaranjan Road, Teynampet, Chennai – 600018, Tamilnadu, India

Date of Birth/ Age :

19.07.1976

Date of Appointment :

07.08.2017

DIN No.:

00291361

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L65993TN1978PLC007576	CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	19/08/2017	-
U65993TN1980PTC008445	A M M ARUNACHALAM & SONS PRIVATE LIMITED	05/12/2005	-
U15421TN1983PTC010243	ROCA BATHROOM PRODUCTS PRIVATE LIMITED	19/03/2011	-
U25209TN1992PTC023721	PLACON (INDIA) PRIVATE LIMITED	06/09/2001	-
U25209TN1995PLC030909	ESPIEM PLASTICSS LIMITED	16/07/2009	-
U67190TN2000PLC045617	CHOLAMANDALAM DISTRIBUTION SERVICES LIMITED	30/10/2017	-
U74999TN1910NPL002343	SOUTHERN INDIA CHAMBER OF COMMERCE & INDUSTRY	24/09/2008	-
U45203TN2006PTC058518	PARRY INFRASTRUCTURE COMPANY PRIVATE LIMITED	24/07/2009	-
U70103TN2007PTC062449	M A ALAGAPPAN HOLDINGS PRIVATE LIMITED	21/02/2007	-
U70109TN2007PTC063410	GEN FOUR PROPERTIES PRIVATE LIMITED	08/05/2007	-

Name :

Mr. Basavaraju

Designation :

Director

Address :

# 2,Old No 9,2nd Cross Shanakarapuram, Basavanagudi, Bangalore – 560004, Karnataka, India

Date of Appointment :

05.08.2013

DIN No.:

01252772

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74999KA2017PTC104556	BMF STATION PRIVATE LIMITED	11/07/2017	-

Name :

Ms. Chitra Venkataraman

Designation :

Director

Address :

Old No.17-B, New No.31, 4th Main Road, R.A. Puram, Chennai – 600028, Tamilnadu, India

Date of Appointment :

10.08.2015

DIN No.:

07044099

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L26941TN1957PLC003566	THE RAMCO CEMENTS LIMITED	06/08/2015	-
L26943TN1965PLC005297	RAMCO INDUSTRIES LIMITED	23/09/2015	-

Name :

Mr. Sathyakumar Veeraraghavan

Designation :

Nominee Director

Address :

B.3, Jeevan Asha, LIC Officers QTRS, Mission Hospital Road, Udupi – 576101, Karnataka, India

Date of Birth/ Age :

30.10.1959

Date of Appointment :

25.01.2013

DIN No.:

06477636

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U85310MH2001PLC133341	LICHFL CARE HOMES LIMITED	27/04/2015	-

KEY EXECUTIVES

Name :	Coimbatore Ramanathan Shivkumaran
Designation :	Company Secretary
Address :	New No.33/8, Old No.16/8, Ramhari Apartment, 5th Trust Cross St., Mandavelipakkam, Chennai – 600028, Tamilnadu, India
Date of Appointment :	04.11.2016
PAN No.:	ADQPK6039E
Name :	Mr. Balasubramaniam Chandrasekar
Designation :	Chief Financial Officer
Address :	117-A, Sathyamoorthy Street, Coimbatore North, Coimbatore – 641009, Tamilnadu, India
Date of Appointment :	20.08.2015
PAN No.:	AAIPC9346H
Name :	Mr. Parthiban
Designation :	Finance Department

SHAREHOLDING PATTERN

As on 31.12.2017

Category of shareholder	No. of fully paid up equity shares held	Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of
(A) Promoter and Promoter Group	3293955	30.07
(B) Public	7661549	69.93
Grand Total	10955504	100.00

Statement showing shareholding pattern of the Promoter and Promoter Group

Category of shareholder	No. of fully paid up equity shares held	Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of
A1) Indian		0.00
Individuals/Hindu undivided Family	302327	2.76
D THAYARAMMAL	7920	0.07
UTTARA R	44290	0.40
S PATHY	1420	0.01
NETHRA J S KUMAR	720	0.01
J RAJYALAKSHMI	97980	0.89
RAVI SAM	5866	0.05
K SUNDARAM	1220	0.01
SANJAY JAYAVARTHANAVELU	142291	1.30
D. SENTHILKUMAR	160	0.00
JAIDEV JAYAVARTHANAVELU	460	0.00
Any Other (specify)	2991628	27.31
ESHAAN ENTERPRISES LIMITED	127110	1.16
LAKSHMI PRECISION TOOLS LIMITED	15000	0.14
LAKSHMI RING TRAVELLERS (CBE) LIMITED	252180	2.30
LAKSHMI ELECTRICAL CONTROL SYSTEMS	88800	0.81
LAKSHMI CARGO COMPANY LIMITED	1074468	9.81
LAKSHMI TECHNOLOGY AND ENGINEERING	667090	6.09
LAKSHMI ELECTRICAL DRIVES LIMITED	17500	0.16
THE LAKSHMI MILLS COMPANY LIMITED	520000	4.75
SUPER SALES INDIA LIMITED	229480	2.09
Sub Total A1	3293955	30.07
A2) Foreign		0.00
A=A1+A2	3293955	30.07

Statement showing shareholding pattern of the Public shareholder

Category & Name of the Shareholders	No. of fully paid up equity shares held	Shareholding % calculated as per SCRR, 1957 As a % of	Number of equity shares held in dematerialized form(Not Applicable)
B1) Institutions	0	0.00
Mutual Funds/	1012907	9.25	1012557
HDFC TRUSTEE COMPANY LIMITED - A/C HDFC MID	388690	3.55	388690
FRANKLIN INDIA SMALLER COMPANIES FUND	143060	1.31	143060
L AND T MUTUAL FUND TRUSTEE LTD-L AND T	340283	3.11	340283
Financial Institutions/ Banks	12740	0.12	12540
Insurance Companies	1208983	11.04	1208983
LIFE INSURANCE CORPORATION OF INDIA	784414	7.16	784414
THE NEW INDIA ASSURANCE COMPANY LIMITED	367341	3.35	367341
Any Other (specify)	615332	5.62	615232
Foreign Financial Institutions	300	0.00	200
Foreign Portfolio Investment-Corporates	615032	5.61	615032
PINEBRIDGE INVESTMENTS GF MAURITIUS	451519	4.12	451519
Sub Total B1	2849962	26.01	2849312
B2) Central Government/ State Government(s)/ President of India	0	0.00
Central Government/ State Government(s)/ President of India	22194	0.20	22194
Sub Total B2	22194	0.20	22194
B3) Non-Institutions	0	0.00
Individual share capital upto INR 0.200 Million	1663796	15.19	1574271
Individual share capital in excess of INR 0.200 Million	931655	8.50	931655
NEMISH S SHAH	534673	4.88	534673
REKHA N SHAH	157014	1.43	157014
Any Other (specify)	2193942	20.03	2191422
Bodies Corporate	1542142	14.08	1540202
ICICI PRUDENTIAL LIFE INSURANCE COMPANY	265817	2.43	265817
GAGANDEEP CREDIT CAPITAL PRIVATE LIMITED	157800	1.44	157800
VOLTAS LIMITED	579672	5.29	579672
CLARICENT ADVISORY SERVICES LLP	141890	1.30	141890
Trusts	7200	0.07	7200
Foreign Individuals	240	0.00
NRI – Non- Repat	51881	0.47	51541
NRI – Repat	69357	0.63	69357
Clearing Members	27807	0.25	27807
HUF	495315	4.52	495315
NEMISH S SHAH	354200	3.23	354200
Sub Total B3	4789393	43.72	4697348
B=B1+B2+B3	7661549	69.93	7568854

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry. (Registered Activity)

Products / Services :

NIC Code	Product Description
28261	Spinning Preparatory and Yarn Making Machinery
28221	Machine Tools

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

Customers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

No. of Employees :

3400 (Approximately)

Bankers :

• Indian Bank
• Bank of Baroda
• Indian Overseas Bank
• Citibank N.A.
• HDFC Bank
• IDBI Bank
• Standard Chartered bank
• HSBC Bank

Statutory Auditor 1 :
Name :	S. Krishnamoorthy and Company Chartered Accountants
Address :	Coimbatore, Tamilnadu, India
Statutory Auditor 2 :
Name :	Subbachar and Srinivasan Chartered Accountants
Address :	Coimbatore, Tamilnadu, India
Cost Auditor :
Name :	Sri A. N. Raman Chartered Accountant
Address :	Coimbatore, Tamilnadu, India
Secretarial Auditor
Name :	M.D. Selvaraj Practicing Company Secretary
Address :	Coimbatore, Tamilnadu, India
Memberships :	Not Available
Collaborators :	Not Available
Wholly Owned Subsidiary:	LMW Textile Machinery (Suzhou) Company Limited
Other Related Parties :	Dhanuprabha Agro Private Limited Eshaan Enterprises Limited Harshini Textiles Limited Hermes Academy of Training Limited Lakshmi Card Clothing Private Limited Lakshmi Cargo Company Limited LCC Cargo Holdings Limited Lakshmi Caipo Industries Limited Lakshmi Energy and Environmental Designs Limited Lakshmi Electrical Drives Limited Lakshmi Technology and Engg. Industries Limited Lakshmi Ring Travellers (Cbe) Limited Lakshmi Electrical Control Systems Limited Lakshmi Precision Tools Limited Lakshmi Life Sciences Limited Mahalakshmi Engineering Holdings Limited Quattro Engineering India Limited Rajalakshmi Engineering Revantha Holdings Limited Revantha Services Limited Revantha Agro Farms Private Limited Sowbarnika Enterprises Limited Sowbarniha Resorts Private Limited Sri Kamakoti Kamakshi Textiles P Limited Sri Lakshmi Vishnu Plastics Sudhasruti Agro P Limited Super Sales India Limited Supreme Dairy Products India Limited Starline Travels Limited Titan Paints and Chemicals Limited The Lakshmi Mills Company Limited Venkatavaradha Agencies Private Limited Walzer Hotels P Limited

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	INR 10/- each	INR 500.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10955504	Equity Shares	INR 10/- each	INR 109.555 Million

The Company has issued only one class of Equity share having a par value of INR 10 per share. They entitle the holder to participate in dividends, and to share in the proceeds of winding up the company in proportion to the number of and amounts paid on the shares held. Every holder of equity shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote.

311000 equity shares of C10 each (representing 2.76% of the total number of paid up equity shares of the company) was bought back from the shareholders of the company on proportionate basis by way of tender offer at the price of C4450 per share for an aggregate amount of INR 1383.950 Million, in accordance with the provisions of the Companies Act. 2013 and SEBI (Buyback of Securities) Regulations, 1998.The shares bought back in the current year were cancelled immediately.

Shareholders holding more than 5% Equity shares

Particulars	31.03.2017
Lakshmi Cargo Company Limited	1049468	9.57%
Life Insurance Corporation of India	884414	8.07%
Lakshmi Technology and Engineering Industries Limited	667090	6.08%
Voltas Limited	579672	5.29%

LISTING DETAILS:

Subject Stock Code :	BSE : 500252 NSE : LAXMIMACH ISIN : INE269B01029
Stock Exchange Place :	Bombay Stock Exchange Limited, Mumbai (Address: Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001, Maharashtra, India) National Stock Exchange of India Limited, Mumbai (Address: Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtra, India)
Listed Date :	Not Available

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	109.555	112.665	112.665
(b) Reserves & Surplus	15274.713	14920.781	12492.02
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	15384.268	15033.446	12604.685
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	1002.129	1013.449	1344.791
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1002.129	1013.449	1344.791
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	3270.881	2949.879	3092.019
(c) Other current liabilities	3396.567	4015.913	4073.998
(d) Short-term provisions	67.400	69.488	603.049
Total Current Liabilities (4)	6734.848	7035.280	7769.066
TOTAL	23121.245	23082.175	21718.542
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4535.917	3924.557	3660.815
(ii) Intangible Assets	86.601	84.412	80.253
(iii) Capital work-in-progress	33.420	75.640	31.011
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1262.431	1527.603	1288.293
(c) Deferred tax assets (net)	129.731	130.903	97.304
(d) Long-term Loan and Advances	0.000	0.000	236.367
(e) Other Non-current assets	1357.282	901.533	0.000
Total Non-Current Assets	7405.382	6644.648	5394.043
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3317.801	2993.475	2886.587
(c) Trade receivables	1950.933	2079.563	2205.753
(d) Cash and cash equivalents	9069.734	9558.092	9416.206
(e) Short-term loans and advances	0.000	0.000	1386.144
(f) Other current assets	1377.395	1806.397	429.809
Total Current Assets	15715.863	16437.527	16324.499
TOTAL	23121.245	23082.175	21718.542

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	24322.571	27530.181	23848.206
	Other Income	906.025	983.697	1063.328
	TOTAL	25228.596	28513.878	24911.534
Less	EXPENSES
	Cost of Materials Consumed	15132.631	17468.443	14761.118
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	68.107	(99.278)	(93.065)
	Employees benefits expense	2407.450	2392.430	2277.335
	Exceptional items	47.014	49.837	94.894
	Impairment loss on financial assets	23.237	6.750	0.000
	Other expenses	4135.934	4576.206	4019.884
	TOTAL	21814.373	24394.388	21060.166
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	3414.223	4119.490	3851.368
Less	FINANCIAL EXPENSES	3.769	8.695	6.344
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	3410.454	4110.795	3845.024
Less/ Add	DEPRECIATION/ AMORTISATION	747.326	828.911	965.031
	PROFIT/ (LOSS) BEFORE TAX	2663.128	3281.884	2879.993
Less	TAX	757.087	1080.646	805.484
	PROFIT/ (LOSS) AFTER TAX	1906.041	2201.238	2074.509
	EARNINGS IN FOREIGN CURRENCY
	Export of goods on FOB basis	3465.386	5515.102	4941.020
	Royalty income	0.000	42.388	31.297
	TOTAL EARNINGS	3465.386	5557.490	4972.317
	IMPORTS
	Raw Materials	NA	607.406	564.411
	Components and Stores parts	NA	1825.976	1865.125
	Capital Goods	NA	115.506	150.249
	TOTAL IMPORTS	NA	2548.888	2579.785
	Earnings / (Loss) Per Share (INR)	170.26	195.38	184.13

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	2204.043	2126.897	1937.759
Net cash flow from (used in) operations	1323.818	1003.431	1032.358

QUARTERLY RESULTS

PARTICULARS	30.06.2017 1^st Quarter	30.09.2017 2^nd Quarter
Unaudited
Net Sales	6961.410	5730.380
Total Expenditure	6253.960	5098.660
PBIDT (Excl OI)	707.450	631.720
Other Income	214.930	201.700
Operating Profit	922.380	833.420
Interest	0.030	3.190
Exceptional Items	(4.000)	(0.170)
PBDT	918.340	830.070
Depreciation	217.960	182.320
Profit Before Tax	700.380	647.750
Tax	224.120	185.570
Provisions and contingencies	NA	NA
Profit After Tax	476.260	462.180
Extraordinary Items	NA	NA
Prior Period Expenses	NA	NA
Other Adjustments	NA	NA
Net Profit	476.260	462.180

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	29.28	27.57	33.76
Account Receivables Turnover ( Income / Sundry Debtors)	12.47	13.24	10.81
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	78.89	61.64	76.46
Inventory Turnover (Operating Income / Inventories)	1.03	1.38	1.33
Asset Turnover (Operating Income / Net Fixed Assets)	0.73	1.01	1.02

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.29	0.30	0.36
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.44	0.47	0.62
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.30	0.27	0.30
Interest Coverage Ratio (PBIT / Financial Charges)	905.87	473.78	607.09

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	7.84	8.00	8.70
Return on Total Assets ((PAT / Total Assets) * 100)	%	8.24	9.54	9.55
Return on Investment (ROI) ((PAT / Networth) * 100)	%	12.39	14.64	16.46

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	2.33	2.34	2.10
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.84	1.91	1.73
G-Score Ratio Financial (Networth / Total Assets)	0.67	0.65	0.58
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.33	2.34	2.10

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

STOCK PRICES

Face Value	INR 10/-
Market Value	INR 6202/-

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	112.665	112.665	109.555
Reserves & Surplus	12492.020	14920.781	15274.713
Share Application money pending allotment	0.000	0.000	0.000
Net worth	12604.685	15033.446	15384.268
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	23848.206	27530.181	24322.571
		15.439	(11.651)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	23848.206	27530.181	24322.571
Profit	2074.509	2201.238	1906.041
	8.70%	8.00%	7.84%

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017	31.03.2016
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	109.555	112.665
(b) Reserves & Surplus	15474.458	15231.977
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	15584.013	15344.642
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	1002.129	1013.449
Total Non-current Liabilities (3)	1002.129	1013.449
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	3449.691	3328.428
(c) Other current liabilities	3564.859	4216.873
(d) Short-term provisions	67.400	69.488
Total Current Liabilities (4)	7081.950	7614.789
TOTAL	23668.092	23972.880
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5113.857	4552.531
(ii) Intangible Assets	86.601	84.412
(iii) Capital work-in-progress	55.448	76.856
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	129.731	130.903
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	2103.474	1849.011
Total Non-Current Assets	7489.111	6693.713
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	3639.603	3387.112
(c) Trade receivables	1900.697	2364.476
(d) Cash and cash equivalents	9229.506	9675.137
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	1409.175	1852.442
Total Current Assets	16178.981	17279.167
TOTAL	23668.092	23972.880

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Income	24992.062	28630.699
	Other Income	884.521	932.650
	TOTAL	25876.583	29563.349
Less	EXPENSES
	Cost of Materials Consumed	15579.692	18145.935
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	88.023	(152.921)
	Employees benefits expense	2516.645	2525.849
	Exceptional Items	47.014	49.836
	Other expenses	4217.81	4734.776
	TOTAL	22449.184	25303.475
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	3427.399	4259.874
Less	FINANCIAL EXPENSES	4.194	10.212
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	3423.205	4249.662
Less/ Add	DEPRECIATION/ AMORTISATION	798.738	881.091
	PROFIT/ (LOSS) BEFORE TAX	2624.467	3368.571
Less	TAX	760.390	1095.212
	PROFIT/ (LOSS) AFTER TAX	1864.077	2273.359
	OTHER COMPREHENSIVE INCOME
	ITEMS THAT WILL NOT BE RECLASSIFIED TO PROFIT AND LOSS
	CHANGES IN FAIR VALUE OF FVTOCI EQUITY INSTRUMENTS	141.124	231.253
	PROFIT ON REALISATION OF EQUITY INSTRUMENTS	241.428	0.000
	REMEASUREMENT OF POST-EMPLOYMENT DEFINED BENEFIT PLANS	(16.775)	(8.501)
	INCOME-TAX RELATING TO THESE ITEMS	5.368	2.720
	ITEMS THAT WILL BE RECLASSIFIED TO PROFIT AND LOSS	0.000	0.000
	TOTAL OTHER COMPREHENSIVE INCOME TO OWNERS OF EQUITY	371.145	225.472
	TOTAL COMPREHENSIVE INCOME FOR THE YEAR TO OWNERS OF EQUITY	2235.222	2498.831
	Earnings / (Loss) Per Share (INR)	166.51	201.78

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

CORPORATE INFORMATION

Subject is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The address of its registered office and principal place of business are disclosed in the introduction to the Annual report. Its shares are listed on two stock exchanges in India, the National Stock Exchange of India [NSE] and the Bombay Stock Exchange [BSE]. The company is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry. The company caters to both domestic and international markets. The financial statements are approved for issue by the Company’s Board of Directors on 22nd May 2017.

MANAGEMENT DISCUSSION AND ANALYSIS

GLOBAL ECONOMY:

Global GDP growth fell short of expectations in 2016, slowing marginally to 3.1% year-on-year, as deceleration in key emerging and developing economies overshadowed a modest recovery in major developed countries. This deceleration was accompanied by modest increase in commodity prices, subdued global trade, bouts of financial market volatility, and weakening capital flows. Global industrial production (IP) growth slowed to 1.5% year-on-year in 2016, after growing by 1.8% in 2015. IP in Organisation for Economic Co-operation and Development (“OECD”) countries eased to just 0.3% year-on-year in 2016, after growing by 0.8% in 2015.

INDIAN ECONOMY

With a GDP at US$2.25 tr (nominal, 2016), India’s economy ranks as the 7th largest in the world.

The Indian economy has been growing at an accelerated pace since 2014, supported by favorable government reforms and stringent fiscal regime that reigned in inflation. The Economic Survey 2017 describes India’s stand in the world as ‘haven of stability’ and positions it as ‘an outpost of opportunity’.

In 2016-17, India’s GDP growth has been pegged at 7.1% down from 7.9% recorded in the previous financial year –largely owing to policy initiatives like demonetisation

TEXTILE MACHINERY DIVISION

The Textile Machinery Division of the Company, during the year, has recorded a turnover of INR 19633.474 Million as against INR 23891.671 Million achieved during the last year, recording a decrease of 18% over the previous year.

THE INDIAN TEXTILE INDUSTRY

Textiles being a basic necessity product, the Indian Textile industry has benefitted from growth in demand for textile products in India and from across the globe. Equally, Government's emphasis to modernise and develop various segments of the textile value chain has presented the Indian Spinning Industry with opportunities to grow further.

During the year demand for textile machinery decelerated as the spinning sector – the key user of the Company’s products remained adversely impacted by factors such as:

• Fluctuation in raw material availability and price.

• Overall sentiment of financial institutions/banks for lending to spinning sector had remained negative for major part of the year . However this perception has undergone a marginal positive change towards the close of the financial year.

• Yarn exports have reduced consequent to a fall in China's demand for the commodity. Despite this aberration, the government’s thrust on strengthening the growth momentum of the textile industry remained unwavering primarily due to the sector’s role in contributing to economic growth and providing employment. The Government has taken important steps in this direction like:

• The government has notified the Amended Technology Upgradation Fund Scheme (A-TUFS) to provide a one-time capital subsidy for investments in employment-and technologyintensive segments of the textile sector, a move aimed at promoting exports and import substitution.

• A `6,000-crore special package for textiles and apparel sector was rolled out in June 2016, which is expected to create one crore new jobs in three years, attract investments of US$11 billion and generate US$30 billion in exports.

In addition, the Government is working on unveiling the National Textile Policy in the FY18. The policy aims to achieve US$300 billion (over `20 Lakh crore) worth of textile exports by 2024-25 and create an additional 35 million jobs. This policy holds the potential to infuse fresh momentum into the sector as it could make Indian garments more competitive in international markets by reducing the cost of production.

These measures are expected to catalyse investment across the textile value chain cascading to an increase in demand for textile spinning machinery.

As a de-risking initiative, the Company remains focused on widening its global presence by strengthening its presence in existing geographies and entering new textile hubs across the world.

Internally the Company has undertaken various measures aimed at boosting productivity and controlling overall cost. These initiatives would enable the Company to respond positively to any developing market opportunity.

MACHINE TOOL DIVISION

Turnover of the Machine Tool Division during the year was `31,885.59 Lakhs as against `21,553.94 Lakhs recorded during the last year showing an increase of 48% over the previous year.

Factory output improved significantly owing to improved systems and processes aligned to global–best practices. The Company partnered with renowned Japanese consultants for system and process realignment which improved the accuracy and efficiency of mother machines. In addition, the Company worked on improving assembling efficiencies by implementing solutions to the manufacturing excellence drive findings.

The Company launched new machines and variants which offer efficient and accurate operations to customers. The Company also launched machines targeting the tools and dies sector – widening its opportunity canvass.

The Government's flagship programmes like Make in India, its thrust on raising India’s ranking in the World Bank’s Ease of Doing Business list and the increasing focus on localizing defence equipment manufacture provide optimism for the healthy growth of the machine tool industry in India over the coming years.

The Company continues with its focus on Innovation and emulation/adoption of best of practices in manufacturing. This would enable this division to respond positively to any emerging opportunity.

FOUNDRY DIVISION

Foundry Division has achieved a turnover of INR 593.731 Million as against INR 725.860 Million recorded during the previous year showing a decrease of 18% over the previous year. The export turnover constitutes 24% of the division's turnover.

During the year , the Company consolidated operations of its foundry units catering to its Textile Machinery Division. In addition to this, standard operating procedures aligned with global best-practices has been created, this is expected to facilitate increase in productivity, controlling costs, improving quality and reducing environment pollution. All of this is expected to enhance its global competitiveness.

The Government’s thrust on the infrastructure sector, the ‘Make in India’ initiative and increasing defence partnerships (leading to growing defence offset programmes), demand for castings is expected to increase over the coming years.

WIND ENERGY DIVISION

The Company has a policy of tapping non-conventional and renewable resources of energy namely wind power to meet with its energy requirements.

As on 31st March, 2017 the Company has installed 28 WEGs with a total capacity of 36.80 MW. This division has generated 937 Lakh units of power during 2016-17. About 88% of the wind power generated has been captively consumed by the manufacturing units within the Company and thereby helped to reduce the power cost.

ADVANCED TECHNOLOGY CENTRE

Advanced Technology Centre has achieved a turnover of `1,430.23 Lakhs during the current financial year as against `1,421.19 Lakhs achieved during the same period last year. Job work income earned during the year amounted to `1,264.87 Lakhs as against `1,045.30 Lakhs during the same period last year.

The division has made significant progress in establishing its credibility in the global aerospace sector. Besides receiving prestigious orders from national and international aerospace OEMs, this division is also emerging as a key partner for OEMs in their future development plans. To strengthen business prospects, the Company is focusing on moving up the valuechain by graduating from components to sub-assemblies. The Company expects to generate increasing business as it focuses on increasing man-machine capabilities to widen its opportunity canvass.

REAL ESTATE ACTIVITY

The Elan Project at Parasakthi Nagar, Ganapathy, Coimbatore promoted by LMW in association with M/s Sobha Limited is progressing. Spread over 4.76 acres of land this project is for construction of 236 residential apartments consisting of 1 BHK, 2 BHK and 3 BHK. The Company has a revenue share of 30% in the project. As on date about 67 units have been sold resulting in a revenue of `1,141.89 Lakhs for the Company

RESEARCH AND DEVELOPMENT

The Research and Development efforts of the Company are

1. Developing eco-friendly, sustainable, energy efficient, low carbon foot print technology.

2. Developing technology for production of innovative machinery.

3. Developing end-products at optimal cost.

Separate Research and Development units have been established for the development of Textile Machinery and CNC Machine Tools. Both these facilities have been recognised by the Department of Science and Technology, Government of India as in-house R&D facilities.

During the year the Company has filed applications for 5 new patents.

AWARDS

During the year 2016-17 the Company has bagged the following Awards:

1. Star Performer Award for the year 2014-15 at the 47th EEPC India National Award.

2. Star Performer Award for the year 2015-16 at the 48th EEPC India National Award.

3. TMMA’s APEX Export Award for Textile Machinery and Parts during 2015-16.

INDUSTRIAL RELATIONS

Relationship with employees was cordial throughout the year.

BUYBACK OF SHARES:

In terms of the Resolution passed by the Board of Directors at their meeting held on 26th October, 2016 and after receiving necessary comments from Securities and Exchange Board of India (SEBI) and after complying with necessary requirements, the offer of the Company to buyback 311000 equity shares of face value of INR 10/- each on a proportionate basis from all the existing shareholders/beneficiary owners excluding the promoter/promoter group at a price of INR 4450/- per equity share for an aggregate maximum amount of INR 1383.950 Million remained open from 13th December, 2016 to 26th December, 2016. Shares offered in the buyback was more than the offer size and hence the Company bought back the intended 311000 equity shares, which were extinguished on 6th January, 2017. As a result the issued and paid-up share capital of the Company as on 31st March, 2017 reduced to 10955504 equity shares of INR 10 each.

INDEX OF CHARGE:

Charges Registered
SNo	SRN	Charge Id	Date of Creation	Date of Modification	Amount	Address
1	Y10088141	90008971	28/03/2002	-	22174000.0	RAJA STREETCOIMBATORETNIN
2	Y10084161	90005083	15/06/1998	-	3847108.0	53; THIRUVENKATASWAMY ROADR.S. PURAMCOIMBATORETN641002IN
3	Y10082308	90003230	25/02/1998	-	1000000.0	39 ; STATE ; STERLING ROADCHENNAITN600034IN
4	Y10084150	90005072	12/12/1997	-	25000000.0	OPPANAKKARA STREETCOIMBATORE BRANCHCOIMBATORETNIN
5	Y10084138	90005060	13/06/1997	19/06/1997	80000000.0	IDBI TOWERCUFFE PARADEMUMBAIMH400005IN
6	Y10087588	90008418	23/09/1996	29/06/1998	32000000.0	OPPANAKARA STREETCOIMBATORETN641001IN
7	Y10084120	90005042	07/09/1996	-	5500000.0	ELGI HOUSETRICHY ROADCOIMBATORETN641045IN
8	Y10084111	90005033	21/12/1995	-	100000000.0	IDBI TOWERCUFFE PARADEMUMBAIMH400005IN
9	Y10084100	90005022	16/08/1995	-	5500000.0	ELGI HOUSETRICHY ROADCOIMBATORETN641045IN
10	Y10087431	90008261	18/03/1995	13/08/1996	40000000.0	OPPANAKARA STREETCOIMBATORETN641001IN

CONTINGENT LIABILITIES:

(INR in million)

PARTICULARS	31.03.2017	31.03.2016
Claims against the company not acknowledged as debt
Central Excise Demand	269.083	151.828
Income Tax Demand	147.171	147.171
Other money for which the company is contingently liable
Letters of Credit	311.394	260.994
Bank and other guarantees	573.318	179.305

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.09.2017

(INR in million)

Particulars	Quarter ended		Half Year Ended
	30.09.2017	30.06.2017	30.09.2017
	Unaudited	Unaudited	Unaudited
INCOME FROM OPERATIONS
Revenue From Operations	5730.384	6961.410	12691.794
Other Income	201.701	214.927	416.628
Total Income from Operations	5932.085	7176.337	13108.422
EXPENSES
Cost of materials consumed	3289.063	4703.257	7992.320
Purchase of Stock in Trade	0.000	0.000	0.000
Changes in inventories of finished goods and work-in-progress	246.644	(329.598)	(82.954)
Employee benefits expense	615.671	649.321	1264.992
Finance Cost	3.185	0.028	3.213
Depreciation and Amortization expenses	182.321	217.962	400.282
Other Expenditure	947.285	1230.985	2178.271
Total Expenses	5284.169	6471.955	11756.124
Profit/(Loss) before exceptional items and Extraordinary Items	647.916	704.382	1352.298
Exceptional Items	0.169	4.002	4.171
Profit / (Loss) before Tax	647.747	700.380	1348.127
Tax Expense	185.570	224.122	409.692
Profit / (Loss) after Tax	462.177	476.250	938.435
Other Comprehensive Income
Items that will not be reclassified to profit or loss	(24.343)	69.900	45.557
Items that will be reclassified to profit or loss	0.000	0.000	0.000
Total Comprehensive Income	437.834	546.158	983.992
Paid-up Equity Share Capital (Face value INR 02/- per share)	109.555	109.555	109.555
Reserves (excluding Revaluation Reserve)
Earnings per Share (EPS) - INR
Basic	42.19	43.47	85.66
Diluted	42.19	43.47	85.66

SEGMENT –WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30.09.2017

(INR in million)

Particulars	(Quarter Ended)		Half Year Ended
	30.09.2017 (Unaudited)	30.06.2017 (Unaudited)	30.09.2017 (Unaudited)
Segment Revenue
a) Textile machinery division	4554.655	6029.283	10583.937
b) Machine tool & foundry division	1354.556	1106.188	2460.744
c) Advanced technology centre	46.439	41.229	87.668
Total	5955.650	7176.700	13132.349
Less : Inter Segment revenue	185.356	168.246	353.603
Total	5770.294	7008.454	12778.746
Segment Results
Profit Before tax and Interest from each segment
a) Textile machinery division	429.817	455.614	885.431
b) Machine tool & foundry division	154.782	122.335	277.117
c) Advanced technology centre	(30.987)	(33.204)	(64.191)
Total	553.612	544.745	1098.357
Add : Other un-allocable income net of unallocable
Expenditure	94.135	155.635	249.770
Total Profit Before Tax	647.747	700.380	1348.127
Segment Assets
a) Textile machinery division	18231.966	18823.274	18231.966
b) Machine tool & foundry division	4154.022	3627.381	4154.022
c) Advanced technology centre	102.912	126.166	102.912
d) Unallocated	1667.326	1831.360	1667.326
Total	24156.226	24408.181	24156.226
Segment Liabilities
a) Textile machinery division	7213.985	7343.568	7213.985
b) Machine tool & foundry division	973.040	814.904	973.040
c) Advanced technology centre	55.827	88.275	55.827
d) Unallocated	6.624	6.883	6.624
Total	8249.476	8253.630	8249.476
e) Capital Employed
(segment Assets – Segment Liabilities)
a) Textile machinery division	11017.981	11479.706	11017.981
b) Machine tool & foundry division	3180.982	2812.477	3180.982
c) Advanced technology centre	47.085	37.891	47.085
d) Unallocated	1660.702	1824.477	1660.702
Total	15906.750	16154.551	15906.750

STATEMENT OF ASSETS AND LIABILITIES AS ON 30.09.2017

(INR In Million)

SOURCES OF FUNDS	30.09.2017 (Unaudited)
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	109.555
(b) Reserves & Surplus	15797.195
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	15906.750
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	449.340
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	449.340
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	4083.469
(c) Other current liabilities	3606.977
(d) Short-term provisions	109.690
Total Current Liabilities (4)	7800.136
TOTAL	24156.226
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4703.286
(ii) Intangible Assets	76.410
(iii) Capital work-in-progress	19.441
(iv) Intangible assets under development	0.000
(b) Non-current Investments	1324.534
(c) Deferred tax assets (net)	133.232
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	1045.300
Total Non-Current Assets	7302.203
(2) Current assets
(a) Current investments	0.000
(b) Inventories	3547.243
(c) Trade receivables	2089.633
(d) Cash and cash equivalents	9715.155
(e) Short-term loans and advances	0.000
(f) Other current assets	1501.992
Total Current Assets	16854.023
TOTAL	24156.226

Notes:

• The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 30.10.2017. Statutory Auditor has carried out limited review of the above results.

• Exceptional item represents Compensation towards Voluntary Retirement scheme opted by Employees.

• Figures of the previous periods regrouped / rearranged wherever necessary.

FIXED ASSETS

Tangible Assets:

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Office Equipment’s

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	INR
US Dollar	1	INR 63.64
UK Pound	1	INR 89.32
Euro	1	INR 78.45

INFORMATION DETAILS

Information Gathered by :	SWE
Analysis Done by :	PRA
Report Prepared by :	SUD

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.