Lakshmi Mills Company Ltd

History of Lakshmi Mills Company Ltd

Promoted in 1907 by the Late G Kuppuswamy Naidu, Lakshmi Mills Company Limited (LMC) was incorporated as a public limited company in 1910. The flagship of the Coimbatore-based Lakshmi group, its associate companies are Lakshmi Machine Works, Lakshmi Synthetic Machinery Manufacturers and Lakshmi Auto Looms. The Company is engaged in the manufacture of Yarn and trading in cloth and garments and rental services of renting out properties. It has four manufacturing units located at Coimbatore, Singanallur, Kovilpatti and Palladam, all in Tamilnadu. The company's cloth processing is done by its subsidiary, United Bleachers. LMC exports cotton yarn and grey cloth to the UK, Germany, Italy, Bangladesh and Japan. In 1977, Coimbatore Cotton Mills was amalgamated with the company. LMC has yarn processing facilities at Coimbatore which includes facilities for mercerising and bleaching. The company was getting Wind Power generated of M/s Das Lagerway Wind Turbines Ltd., under a contract since 1997. Some problem has creeped in between the owners of the wind power farm M/s Das Lagerway & M/s Pathega Forgings & Autoparts during 2000-01, the company will not get wind power any more. Company has also increased the installed capacity of Ring Spindles by 64 Nos. In 2000-01, there was an increase in production of fabrics on account of full commissioning fo additional looms. And the company is also drafted a modernisation scheme at the cost of Rs.39 crores and sent it to IDBI for it's sa ...nction. The first phase of modernization of 20160 spindles in Palladam unit was commissioned in 2007. Due to adverse market conditions, your Company took a decision to stop the manufacturing activities in Coimbatore unit since December 2008 and decided to operate only two units - Palladam and Kovilpatti. The implementation cf the modernization scheme under TUF in Palladarn Unit was completed and that the working of the Unit got stabilized during the period 2009. The installed capacity remained at the same level of 1.44 lakh spindles throughout the year 2024-25. Due to adverse market conditions and the global economic slowdown in the background of disruptions and uncertainty caused by the movement of outstation workers, the production of yarn was affected considerably resulting in lower turnover. With accumulation of finished stock of yarn, the prices realized were reported lower. Hence, the Company was not able to work in full capacity during the year 2024-25.