issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article relies largely or entirely upon a single source . relevant discussion may be found on the talk page . please help improve this article by introducing citations to additional sources . november 2014 this article possibly contains original research . please improve it by verifying the claims made and adding inline citations . statements consisting only of original research should be removed . november 2014 learn how and when to remove this template message learn how and when to remove this template message lakshmi machine works limited type public industry textile machine tool steel & gi foundry founded 1962 headquarters periyanaickenpalayam coimbatore india key people sanjay jayavarthanavelu chairman & managing director . r rajendran director finance . products textile machinery machine tool ; windmill automotive earth mover parts etc. revenue 24.16 billion us 360 million 2015 1 net income 2.20 billion us 33 million 2015 2 total assets 22.37 billion us 330 million 2015 3 total equity 12.82 billion us 190 million 2015 4 number of employees 5000 website 1 lakshmi machine works limited lmw is india s largest textile machinery and cnc machine tool manufacturers based in coimbatore founded by cavalier dr. g.k. devarajulu . it started its operation in 1962 in periyanaickenpalayam in coimbatore city with technical collaboration with swiss based textile machinery manufacturer rieter for textile machines and german based steel and ammunition major krupp . in mid 1980 s the company bought over its coimbatore based longtime rival and much older textile and engineering giant textool . the company is promoted and owned by the lakshmi mills family . lmw has 60 % market share in the domestic textile spinning machinery industry.lmw diversified into cnc machine tools and is a brand leader in manufacturing customized products . lmw s global presence has grown over the years with a market presence not only in developing countries but also in europe . contents 1 company history 1.1 textile machinery division 1.2 foundry division 1.3 machine tool division 1.4 credentials 2 awards 3 other institutions 4 references company history edit textile machinery division edit in 1980 lmw finalised another technical collaboration with rieter machine works ltd. switzerland for the manufacture of open end spinning machines and with investa czechoslovakia for the supply of spinning units . in the same year government approved another technical agreement with rieter for the manufacture of improved and sophisticated ring frame rieter model g5 1 the first of which was delivered in november 1982 . in 1989 the company entered into a collaboration agreement for advance technology in the manufacture of open end rotors spinning machines with schubert & salzer ingolstadf west germany.in 1996 the kaniyur unit was set up to cater domestic and export demands . 1998 the company is the in 1998 the collaboration agreement between the textile machinery manufacturing major lakshmi machine works ltd lmw and rieter machine works ltd switzerland rieter came to an end after 35 years of association . by then lmw became the largest supplier of ring spinng machines in the world with over 12 million spindles in operation.and was one among three companies in the world to manufacture the entire range of spinning machinery . in 2003 board of industrial finance and reconstruction approves for the merger of textool company with lmw which was lmw s long time rival . foundry division edit lmw foundry makes precision castings for industries the world over . the only company in asia outside europe to manufacture oe products for mikron of switzerland . machine tool division edit the machine tool division was established in 1986 in technical collaboration with mori serki of japan to manufacture cnc lathes and machining centres.in recent years lmw inhouse r & d centers have developed and launched more advance machines into the market . credentials edit iso 14001 2004 & ohsas 18001 2007 certified for the following companies mw tmd unit 1 2 & 3 lmw fdy unit 1 & 2 lmw mtd iso 14001 2004 & ohsas 18001 2007 policy awards edit 2012 eepc india export award eepc india has given away the award for highest growth in exports large enterprise for special contribution for 2010 2011 to lmw during the function held at hyderabad . the award was presented by dr. m.m. pallam raju union minister of state for defence government of india in the function held at hyderabad international convention centre hyderabad on 27 july 2012 . 5 lmw has won the top export award in textile machine exports for the past seven years . other institutions edit lmw launched a management institute d j academy for managerial excellence and dj school of design in coimbatore both named after d. jayavarthanavelu . references edit notes http www.lakshmimach.com wp content uploads pdf year ended march 2015.pdf http www.lakshmimach.com wp content uploads pdf year ended march 2015.pdf http www.lakshmimach.com wp content uploads pdf year ended march 2015.pdf http www.lakshmimach.com wp content uploads pdf year ended march 2015.pdf awards sources lmw rieter joint venture ends textool and lmw merger lakshmi machine works company history on the economic times website lakshmi machine works contact page retrieved from https en.wikipedia.org w index.php title lakshmi machine works & oldid 743617604 categories textile companies of indiaspinningtextile machinery manufacturerscompanies based in tamil naducompanies based in coimbatorehidden categories articles needing additional references from november 2014all articles needing additional referencesarticles that may contain original research from november 2014all articles that may contain original research navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views 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