LOKESH MACHINES Share price

Lokesh Machines Limited was incorporated as a public limited Company on December 17 1983 and commercial production started from 1986.The Company was promoted by Mr. M Lokeswara Rao who started this company after gaining significant insights into the nuances of machine and machine tool manufacturing during his stint of over 16 years as a shop-floor executive of HMT Ltd.Initially commencing business with a modest capital and doing some job works for HMT Ltd the company was nurtured carefully by the Promote r to the present stage achieving a turnover of Rs. 75.32 crores in the year ended 31st March 2005.Over a period the Company developed a wide range of SPMs andbuilt up a reputation for the quality of its products and after sales service.The Company has on date built over 500 Special Purpose Machines for Companies like Ashok Leyland Bajaj Auto Bajaj Tempo TATA MOTORS Escorts Mahindra & Mahindra John Deere Kinetic Engineering Hindustan Motors Honda Motor Cycles and Scooters Bharat Forge RaneEngine valves etc.LML achieved a significant breakthrough by winning a prestigious turnkeyorder from M/s John Deere Pune for their green field tractor project for supply of total manufacturing line for cylinder blocks against stiff competition.LML has also bagged a prestigious export order from M/s FPT Industrie Spa of Italy for supply of Milling and Boring machines and successfully supplied over 35 machines and made its presence in the European markets.This order was a stepping-stone for the company in fulfilling its strategic initiative of becoming an exporter of machine tool products from India. Recently LML has also supplied about 8 Machines to Honda Motor cycles and scooters Japan for their Indian requirement. LML had developed machinesand supplying to HOWA Japan under a long term contract and to Italy and the turnover from exports during the year 2004-05 was Rs.598 lacs.The Company also entered the Auto Component Segment by setting up dedicated lines of Machines for manufacture and supply of Cylinder Blocks for Mahindra & Mahindra Limited (M&M) for their Tractor Jeep and Scorpio divisions.MAJOR EVENTS IN THE HISTORY OF THE COMPANYPeriod/Time Particulars1983-84 · Incorporation of the Company · Certificate of Commencement of Business1988-89 · Entry into auto market Order received from Bajaj Auto. · Company achieves landmark of Rs. 1 crore turnover. 1994-95 · Turnover exceeds Rs. 5 crores for the first time · Formation of Auto Component Division.1995-96 · Contract signed with Mahindra & Mahindra for machining Cylinder · Bagged orders from Ashok Leyland and Escorts for SPMs · Investment in the shares of the company by Gujarat Venture Finance Ltd.1996-97 · Crossed landmark of Rs. 10 crore turnover.1997-98 · Formation of CNC Division.1998-99 · Formation of countrywide Dealer Network for CNC Division · Turnkey Contract signed with L & T John Deere Ltd. for Total Cylinder Block Semi automatic line supply1999-2000 · Crossed the landmark of Rs. 20 crores turnover · Bagged and executed the first export order2000-01 · Signed contract for machining 2nd and 3rd machining line for Mahindra & Mahindra Cylinder Blocks2002-03 · Best Exporter Award from Dr Sir M Visveswaraaiah Industrial Awards in the year 20012003-04 · Japanese Auto major Honda Motors placed order with the Company for supply of CNC Machines to its Indian company. - Tie up with Howa Machine Corporation Japan for manufacture of High Speed Vertical Machining Centre for re-export. - Rs. 50 crore turnover achieved. · Certification for ISO 9001-2000 received for Machine Tool Division and QS -9000 for Auto Components Division2004-05 · Export of 2 machines to AVM Angelini Italy · Doubled capacity for supply of cylinder blocks to Mahindra & Mahindra. · Export orders bagged for 25 machines valued at 375000 Euro2005-06 · Bagged confirmed export orders for 42 machines valued at 630000 Euro · Contract finalized with M/s Wenig-Wemas for export of lathes and VMCs to Europe · Recommendation obtained for TS-16949:2002 certification for Quality Management System for machining of Automotive Components.