Business

LMW: The Gem Of The Indian Textile Technology Industry

Over the years, Lakshmi Machine Works Ltd (LMW) has emerged as India's leading textile spinning technology manufacturer. It is one of the few textile machine manufacturers offering a complete range of spinning machines. With a clear vision to provide the best technology to the spinning industry, the company, over the years, has been investing in R&D, accessing the best technologies, developing patent material and unique processes, developing its human resources, and understanding its customers. LMW today is the technology partner of choice for the spinning industry globally. "We are making strong inroads into newer geographies. Our brand is well-established globally. And we are adept at offering world-class machines, matched with world-class service and support. These credentials are sought after by spinners. We work closely with our customers, we perfectly understand the needs of our customers, and offer the correct solutions to them," shares Mr Sanjay Jayavarthanavelu, CMD, Lakshmi Machine Works Ltd.

Adapting with a purpose

The company has seen significant order gains after the lockdown period. The commitment and the challenge were to deliver as fast as possible to an industry recovering from a Covid-related demand slowdown. As a technology partner, LMW realised its responsibility towards the growth of this industry. The company focussed on working smarter by optimising its resources' use, thereby increasing the throughput. LMW endeavoured to deliver faster.

Customer centricity

LMW operates with the single motive of 'customer centricity'. This culture has become the DNA of the business. It has positioned LMW as one of the leading manufacturers of textile spinning machinery globally, with a healthy presence across geographies. The customer-centric business model is reflected in the ever-expanding basket of value-added services. The services basket includes:

- Hand-holding the client's shop floor team post-installation.

- Installed machine monitoring and audit.

- Providing spares and accessories for maximising machine uptime.

The company services its international customers through a network of offices in each geography of its presence.

FY 22: In retrospect

FY 2022 was quite an unusual year. As the intensity of the pandemic dissipated, there was a sudden spike in business volumes which continued to surge as time progressed. Initially, the orders were mainly for single machines, which transformed into orders for entire projects over the months. Export volumes also surged, with other global textile hubs rushing to capitalise on the emerging geopolitical opportunities. Even as the LMW team worked relentlessly to deliver machines faster, the division ended the year with a healthy order book.

Plan for 2022-23

LMW's operations team is dedicating its energy to delivering machines quickly, enabling customers to capitalise on opportunities across the textile value chain. On the exports front, LMW will strengthen its efforts to widen its global reach. The company will also focus on strategic orders, which will help sustain business volumes over the medium term. The R&D has a robust project pipeline, enabling the division to widen its product basket to suit a more expansive customer universe.

Ensuring the growth of the ancillary industry

The spinning sector in India's textile value chain is self-sufficient and the most modernised. And to a very great extent, that credit goes to LMW. The spinning industry found a local and reliable source of technology at its doorstep, making it quite competitive in the world market. And LMW, too, realised its responsibility towards the industry and continuously strived to develop the best possible technologies. LMW has also been instrumental in developing India's spinning accessories and spare parts industry. To partner with LMW, accessories manufacturers had to be the best in class. And over the years, India's spinning machine accessories and spares started to find a steady market globally. Some of the best companies in this segment are from India.

A case for Indian textile technology

According to an estimate, India will need 110,000 looms in the next five years, vast numbers of processing and printing machines, and 55 lakh sewing machines in the next five years. The success of LMW and India's spinning industry should spur the weaving, processing, and knitting machinery makers to take on the responsibility of developing the best solutions for their sectors.

The spinning sector in India's textile value chain is self-sufficient and the most modernised. And to a very great extent, that credit goes to LMW. The spinning industry found a local and reliable source of technology at its doorstep, making it quite competitive in the world market.

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