Lakshmi Machine modernisation by Sept

The Rs 200-crore modernisation work of the Coimbatore-based Lakshmi Machine Works Limited would be completed by September-end this year, Sanjay Jayavarthanavelu, whole-time director of the company, said.

The modernisation work covers the four units of textile machinery manufacturing units, three foundries and a machine tool unit, all located in and around Coimbatore.

Jayavarthanavelu said that the modernisation exercise included upgrading automation, additional capacity building, installation of high capacity machines and equipment.

Post modernisation, the company expects to see an increase in the volume of production in the range of 20 per cent to 50 per cent, depending upon the individual unit undergoing the change, he said. Lakshmi Machines registered a turnover of around Rs 1,000 crore in the year 2004-2005.

Jayavarthanavelu also said that the company had a strong order book and was maintaining a growth rate of over 25 per cent in the last few years. This was expected to go up further in the coming years, he added.

"The industry, as a whole, has been witnessing a boom during the last six or seven years, and hopefully this trend would continue in the forthcoming years too," he said.