LMW Limited (formerly Lakshmi Machine Works Limited), headquartered in Coimbatore, Tamil Nadu, has issued a Postal Ballot Notice dated 24th July 2026, inviting shareholders to vote on a Special Resolution to amend the Objects Clause of its Memorandum of Association. The notice was dispatched to the stock exchanges on 11th August 2026 and is being sent exclusively through electronic mode to all members whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date of Friday, 7th August 2026.

Proposed Amendment to Memorandum of Association

The Board of Directors, at its meeting held on 24th July 2026, approved a proposal to amend Clause III(a) of the Memorandum of Association by inserting six new sub-clauses numbered 28 to 33. The company was originally incorporated with the main objects of manufacturing textile machinery and allied engineering products, and has since diversified into machine tools, foundry and precision manufacturing, aerospace and defence, and other engineering-related businesses. The proposed expansion reflects the evolving business environment and the emergence of new-age industries.

The six new business areas proposed under the amended Objects Clause are summarised below:

Pursuant to Section 13 of the Companies Act, 2013, the amendment to the Objects Clause requires approval by way of a Special Resolution. The proposed amendment is also subject to approval by the Registrar of Companies, Ministry of Corporate Affairs.

E-Voting Process and Key Dates

The company has engaged the services of National Securities Depository Limited (NSDL) to provide the remote e-voting facility through its website at www.evoting.nsdl.com . The key dates and procedural details are outlined below:

In compliance with MCA Circulars, the Postal Ballot Notice is being sent only by email. No hard copy of the notice, postal ballot forms, or pre-paid business envelopes will be dispatched. Members who have not yet registered their email addresses are requested to do so through the Company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited (formerly Link Intime India Private Limited).

Voting Rights and Shareholder Participation

Voting rights of members are proportionate to the shares held in the paid-up equity share capital of the Company as on the cut-off date of Friday, 7th August 2026. Only those members whose names are recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the cut-off date are entitled to cast their votes. Members are advised that once a vote is cast, it cannot be subsequently changed, and proxy voting is not permitted for postal ballots.

Shareholders holding securities in demat mode with NSDL or CDSL may access the e-voting facility through their respective depository portals or through their Depository Participant. For any technical issues, NSDL shareholders may contact Ms. Pallavi Mhatre, Senior Manager, at evoting@nsdl.com or call +91 22 4886 7000, while CDSL shareholders may reach the helpdesk at helpdesk.evoting@cdslindia.com or the toll-free number 1800-21-09911.

Board Recommendation and Disclosures

The Board of Directors recommends the Special Resolution set out at Item No. 1 of the Notice for approval by the members. None of the Directors or Key Managerial Personnel of the Company, or their respective relatives, is concerned or interested, financially or otherwise, in the resolution. The Postal Ballot Notice, along with the existing Memorandum of Association and proposed amendments, is available for inspection on the Company's website at www.lmwglobal.com and on the NSDL e-voting website. Physical inspection is also available at the Registered Office between 10:00 AM IST and 12:00 Noon IST on all working days from the date of dispatch of the notice up to the date of declaration of results. The results will be communicated to BSE Limited and the National Stock Exchange of India Limited upon announcement.

LMW Limited reported a consolidated revenue of ₹902 crore for the quarter ended June 2026, remaining largely flat compared to the previous quarter’s ₹972 crore but rising 24% year-on-year from ₹722 crore in June 2025. Profit before tax (PBT) surged 151% YoY to ₹85 crore, up from ₹34 crore in the corresponding period last year and an 18% increase quarter-on-quarter from ₹72 crore. The company’s net profit stood at ₹75 crore, slightly down from ₹78 crore in the previous quarter.

The Textile Machinery Division (TMD) contributed ₹482 crore to revenue, down marginally from ₹485 crore in the prior quarter but up 16% YoY from ₹415 crore. The division maintains a secured order book of ₹3,200 crore, with active orders totaling ₹2,400 crore. Sales mix for the quarter was 64% domestic, 10% exports, and 26% spares. Management highlighted that state policies in Gujarat, Odisha, and Madhya Pradesh, along with Free Trade Agreements (FTAs), are driving new order inflows despite a broader industry slowdown in spindle installations over the past two years.

Segment Performance

The Advanced Technology Centre (ATC) division reported revenue of ₹60 crore, up from ₹57 crore in the previous quarter and ₹46 crore in June 2025. ATC holds an order book of approximately ₹1,000 crore for execution over three to three-and-a-half years, with 90% of this value tied to exports. The revenue split within ATC is 80% metallics and 20% composites. Margins in ATC improved due to a higher mix of assembled components versus raw materials.

The Machine Tool Division and Foundry generated revenue of ₹343 crore, down from ₹352 crore in the prior quarter but up significantly from ₹251 crore in June 2025. The foundry business accounts for roughly 8% of this segment’s revenue. Capacity utilization in the Machine Tool Division stands at 75-80%, with management noting potential to increase output by 15-20% without additional capital expenditure. Revenue breakdown for this division was 56% automotive, with the remainder spread across EMS, general engineering, and other sectors.

International subsidiaries faced mixed results. LMW Global reported turnover of ₹51 crore against a loss of ₹5.6 crore, while LMW China saw turnover drop sharply to ₹11 crore from ₹76 crore in the prior year, though losses narrowed to ₹7 crore from ₹11.5 crore. LMW China holds an order book of ₹128 crore.

What the Numbers Show

A key analytical observation is the divergence between top-line growth and expense control. While consolidated revenue grew 24% YoY, other expenses increased by only 4%, indicating significant operational leverage. This efficiency was partly driven by voluntary retirement scheme (VRS) costs incurred in the previous quarter and ongoing cost optimization initiatives. Additionally, the surge in PBT (151% YoY) outpaced revenue growth, suggesting that margin expansion in high-value segments like ATC and improved capacity utilization in machine tools are driving profitability more than volume growth alone.

Management noted that input costs, including commodities and logistics, have risen by 3-3.5% due to geopolitical tensions in the Middle East. However, supply chain resilience measures and price revision clauses in contracts for ATC and Foundry divisions are helping mitigate these impacts. The company also announced plans for a new ATC facility with ₹150 crore allocated for land and building construction over 18-24 months to support scaling operations.