Lakshmi Machine Works ( LMW ) facing Downturn ?
Textile machinery maker Lakshmi Machine Works Ltd is facing a slowdown in order flow as mills hit by muted demand defer expansion, but expects orders to pick up in 2008/09, a senior official said on Thursday.
The company, which holds more than 60 per cent of the Indian spinning machinery market, has barely managed to replenish orders in the first half of FY08 and expects a 20 per cent fall in its order book this year, Chief Financial Officer R. Rajendran said.
The order book has stayed at Rs 5300 crore since March-end but indications are new orders will not match deliveries in the second half, thus reducing the order book size, Rajendran said.
