LMW Ltd

Item 1 – MOA Objects Clause amendment (Special Resolution)

• Special Resolution to amend Clause III(a) of the MOA by inserting sub-clauses 28–33.
• Proposed new businesses include pharmaceuticals, chemicals, EVs, electronics, energy, robotics, and related R&D.
• Special Resolution subject to ROC/MCA approvals and Board-initiated modifications as required.
• Board recommended approval of the amendment.
• Results to be announced within two working days after e-voting ends.
• Notice sent electronically; hard copies not dispatched to shareholders.
• Cut-off date for voting eligibility: 7 August 2026.
• E-voting window: 12 August 2026 to 10 September 2026.
• Subject to ROC approval; amendment requires Special Resolution.

Rating action

• New corporate credit rating assigned: Crisil AA (Stable) for LMW Ltd.

Instrument & Rating

• Corporate Credit Rating; Crisil AA; Outlook: Stable.

Rating Agency

• Agency: Crisil Ratings Limited.

Rationale

• Rationale not disclosed in the notice; details via the Crisil link.

Material change vs. prior rating

• New rating; no prior Crisil rating for LMW.

Cessation

• Sri K Soundhar Rajhan, SMP, ceases to be SMP due to retirement, effective 31 July 2026.

Designation change

• Sri N Krishna Kumar redesignated as President - Strategy Office; continues as SMP, effective 1 August 2026.

Financial Performance

• Revenue for quarter ended June 26: 891 crores; March 26: 889; June 25: 722.
• PBT for the quarter: 85 crores; up 18% from 72 crores; up ~151% vs June 25.
• Consolidated revenue: 902 crores; profit: 75 crores; prior quarter revenue 972 crores; profit 78.
• Machine Tool Division revenue: 343 crores current quarter; 352 crores prior; 251 crores June 25.
• ATC revenue: 60 crores; prior quarter 57 crores; June 25: 46 crores.
• LMW Global turnover: 51 crores; loss 5.6 crores; order book 22 crores.
• LMW China turnover: 11 crores; loss 7 crores; order book 128 crores.

Segment Update

• TMD revenue: 482 crores current quarter; 485 previous; 415 crores June 2025.
• TMD order book: 3200 crores total; active orders about 2400 crores.
• TMD sales mix: Domestic 64%, Exports 10%, Spares 26%.
• LMW Global order book: 22 crores (within TMD context).
• LMW China order book: 128 crores; turnover 11 crores; loss 7 crores.
• ATC order book: ~1000 crores for 3–3.5 years; 70% projects, 30% unitary.
• ATC export orders: ~900 crores over three years; 150 crores immediate delivery.
• MTD capacity utilization: about 75–80%; can push more machines.
• Textile division capacity utilization: around 60%.
• J-series (MTD) acceptance; notable model J2 is well received.

Capex and Projects

• ATC capex: 150 crores for land and building; timeline 18–24 months.
• ATC order book: ~1000 crores; execution over 3–3.5 years; 70% projects, 30% unitary.
• Export portion in ATC orders: ~900 crores over 3 years; 150 crores immediate.
• MTD capacity can handle 20% more; current capacity supports ~15% more.

Q&A Highlights

• Enquiry on six new divisions; CFO describes enabling resolution and exploring multiple options.
• TMD visibility: order book ~3,200 crores; domestic 64%, exports 10%, spares 26%; deposits 10%.
• ATC export orders: ~900 crores over three years; 150 crores immediate; projects vs unitary split ~70/30.
• Dollar/Euro impact on MTD costs; plan to substitute Indian-made parts and adjust pricing.
• Middle East tensions raise costs; supply chain resilience; costs up ~3–3.5%.
• MTD J-series (J2) strong EMS acceptance; Auto-winder feedback positive; more orders later this year.
• ATC margins positively impacted by forex; last quarter 85 to 95; current ~94–96.

Meeting Details

• Date and time: 27 July 2026, 04:00 PM IST.
• Type and mode: Analyst conference call; mode not specified.
• Recording availability: Audio recording on the company website.

Participants

• Key company participant: Company Secretary & Compliance Officer.

Purpose

• Purpose: provide access to the audio recording of the analyst conference call.

Additional Notes

• Recording: audio file available on company website; no transcript mentioned.

Board and results update

• Resubmission of Q1 2026 financial results in machine-readable format; unchanged from 24 July filing.
• Board approved unaudited standalone and consolidated results for quarter ended 30 June 2026; includes Limited Review Report.
• Results to be published in Business Line (English) and Hindu-Tamil (Tamil) on 25 July 2026.
• MOA amendment approved to expand objects to Pharmaceuticals and Life Sciences, EVs, Renewable Energy, and Robotics.
• Expansion includes Specialty Chemicals, Advanced Materials, Electronics Manufacturing, and Robotics and Automation.
• Postal Ballot planned; Scrutinizer appointed for fair process.
• CFO certificate issued confirming correctness of financial results.
• Independent Auditor's Review concluded no material misstatement for standalone and consolidated results.
• Quarter included exceptional item of Rs 2.41 Cr towards Voluntary Retirement Scheme.

AGM Details

• Date and time: 24 July 2026 at 2:45 PM IST.
• Mode: VC/OAVM; remote e-voting and at AGM voting conducted.
• Remote e-voting period: 21-23 July 2026.

Resolutions and Outcomes

• Item 1: Adoption of financial statements passed; ordinary resolution.
• Item 2: Dividend declaration passed; ordinary resolution.
• Item 3: Re-appointment of Sri M Sankar by rotation passed; 5.41% dissent.
• Item 4: Statutory auditors Brahmayya & Co appointed; 0.02% dissent.
• Item 5: MD Sanjay Jayavarthanavelu reappointed for five years; 6.47% dissent.
• Item 6: Sankar reappointed as Whole-time Director for three years; 5.31% dissent.
• Item 7: Aroon Raman Independent Director second term; 0.05% dissent.
• Item 8: Narayanan Vellayan Independent Director first term; dissent negligible.
• Item 9: Cost Auditor remuneration ratified for 2026-27; negligible dissent.
• Item 10: RPT with Lakshmi Electrical Control Systems Limited approved; negligible dissent.

Dividend

• Dividend declared for FY ended 31 Mar 2026; per-share amount not disclosed.

Director Changes

• M Sankar reappointed as Director by rotation.
• Sanjay Jayavarthanavelu reappointed as Managing Director for five years.
• M Sankar reappointed as Whole-time Director for three years.
• Aroon Raman Independent Director second five-year term.
• Narayanan Vellayan Independent Director first five-year term.

Auditors

• M/s Brahmayya & Co appointed as Statutory Auditors.
• Cost Auditor remuneration for 2026-27 ratified.

Material Related Party Transactions

• RPT with Lakshmi Electrical Control Systems Limited approved; 25 related parties did not vote.

Other material approvals

• No ESOPs or other material approvals noted.