Shares of Lakshmi Machine Works gained 1.49% to Rs 8,830 in a weak market after the company reported a 217% jump in consolidated net profit to Rs 82.73 crore in Q4 FY22 from Rs 26.05 crore posted in Q4 FY21.
Consolidated net sales grew by 46% to Rs 998.50 crore in Q4 FY22 from Rs 683.70 crore posted in the same quarter last year. Profit before tax surged 116.7% to Rs 90.1 crore in Q4 FY22 from Rs 41.58 crore posted in Q4 FY21.Total expenses rose by 39.3% to Rs 907. 84 crore in Q4 FY22 from Rs 651.88 crore posted in Q4 FY21. Cost of raw materials soared 51% year on year to Rs 653.63 in the quarter ended 31 March 2022.
On the segmental front, revenue from Textile Machinery Division was Rs 760.52 crore (up 62% YoY), Machine Tool & Foundry Division revenue was Rs 248.88 crore (up 9.87% YoY) and Advanced Technology Centre revenue was Rs 17.86 crore (up 177% YoY) in the quarter ended 31 March 2022.
On full year basis, the company reported 305.9% jump in consolidated net profit to Rs 181.05 crore on an 83.6% rise in net sales to Rs 3,170.95 crore in the financial year ended 31 March 2022 over the financial year ended 31 March 2021.
Meanwhile, the company's board recommended a dividend of Rs 40 per share for the financial year ended 31 March 2022.
Lakshmi Machine Works is a leading textile machinery manufacturer in India and one among the three in the world to produce the entire range of spinning machinery.
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