LMW Limited will hold its 63rd Annual General Meeting on July 24, 2026, through video conferencing to approve financial statements for the year ended March 31, 2026, and re-appoint key leadership. The meeting will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM) in compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has published the notice in newspapers, including Business Line and Hindu Tamil, on June 30, 2026, and made it available on its website.

Agenda for the 63rd AGM

The ordinary business includes the adoption of annual financial statements, the declaration of dividends, and the appointment of a director by rotation. Special business items encompass the re-appointment of Sanjay Jayavarthanavelu as Managing Director, M Sankar as Whole-time Director (Designated as Director Operations), and Aroon Raman as an Independent Director. Additionally, the appointment of Narayanan Vellayan as a new Independent Director is on the agenda. Shareholders will also vote on the ratification of remuneration payable to the Cost Auditor and the approval of material related party transactions with Lakshmi Electrical Control Systems Limited.

Auditor and Director Appointments

M/s Brahmayya & Co., Chartered Accountants, are proposed to be appointed as statutory auditors at a remuneration of ₹30,00,000 per annum, excluding taxes and out-of-pocket expenses. The firm will hold office until the conclusion of the 68th Annual General Meeting. Regarding leadership, Sanjay Jayavarthanavelu’s re-appointment as Managing Director includes a monthly salary of ₹16,00,000 and a commission of 4% on net profits. M Sankar is proposed for re-appointment as Whole-time Director for three years from October 25, 2026, with an annual salary of ₹1,50,00,000.

Related Party Transactions and Cost Audit

The Board has sought shareholder approval to enter into material related party transactions with Lakshmi Electrical Control Systems Limited for an amount not exceeding ₹450 Crores. These transactions, which may exceed 10% of the company's annual consolidated turnover, are valid until the next Annual General Meeting. Furthermore, the ratification of remuneration for Cost Auditor Sri A N Raman is set at ₹7,00,000 per annum for the financial year 2026-27.

Key Meeting Details

The Register of Members and share transfer books will remain closed from July 18, 2026, to July 24, 2026. Dividends, if declared, will be paid only through electronic mode approved by the Reserve Bank of India, as the issuance of dividend warrants has been omitted effective November 18, 2025. Shareholders must ensure their bank details are registered to receive dividends.

LMW Limited filed its Business Responsibility and Sustainability Report for the financial year ended March 31, 2026, with BSE Limited and the National Stock Exchange of India Limited. The filing, made pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the company's initiatives from an Environmental, Social, and Governance (ESG) perspective. The disclosures have been made on a standalone basis and have received reasonable assurance from Sustainability Actions Private Limited.

The company reported a turnover of ₹30,81,84,36,546 and a net worth of ₹27,08,88,95,720 for the financial year 2025-26. Its business activities are primarily concentrated in the manufacturing of textile machinery, which accounts for 56% of turnover, and CNC machine tools, contributing 35%. The company operates 10 plants and 2 offices nationally, serving 21 states and 6 union territories, along with 30 international markets where exports contributed 11.50% to total turnover.

Sustainability and Energy Initiatives

LMW has identified four core pillars for its sustainability efforts: Sustainable Products and Value Chain Engagement, Social Development and Community Well-being, Sustainable Business Operations, and Environmental Protection and Climate Action. The company has set an internal target to offset 100% of energy consumption with renewable energy. To achieve this, it utilizes a 15.00 MW solar plant and 28 wind turbines with a total capacity of 36.80 MW. The company has also implemented a Zero Liquid Discharge (ZLD) mechanism at its plants.

Workforce and Social Performance

As of March 31, 2026, the company employed 2,397 permanent employees and 1,399 workers. The workforce included 86 female permanent employees and 11 female workers. The Board of Directors comprised nine members, with two women representing 22.22% of the board. The company reported that 100% of its sourcing is carried out in a sustainable manner, adhering to a formal code of conduct for suppliers.

Grievances and Regulatory Compliance

During the financial year 2025-26, the company received 1,694 customer complaints, of which 184 were pending resolution at the end of the year. It also received seven shareholder complaints, all of which were resolved. The company disclosed penalties amounting to ₹34,03,944 under Principle 4 of the National Guidelines on Responsible Business Conduct (NGRBC) for discrepancies related to GST invoicing. Appeals have been preferred against these penalties. The report confirmed that the company is compliant with all applicable environmental laws and regulations.