Lakshmi Automatic Loom

2016-17

• The proposal for manufacture of shuttleless looms is deferred due to the prevailing uncertain market conditions and availability of cheaper versions of imported looms.

- The Company is constructing additional Buildings at Hosur to augment its revenue.

- The income generated on utilisation of the idle Assets of the Company during the year was ₹ 414.06 lakhs against 384.27 lakhs in the previous year

• The Company bought back 2,50,000 - 6% Cumulative Redeemable Preference Shares of ₹ 100/- each amounting to ₹ 250 lakhs during the year by utilization of Securities Premium Amount.

• The income on utilization of the idle Assets of the Company at Hosur will continue to be earned. Additional Buildings are under construction at Hosur and the space will be let out for Industrial/Warehousing operations to augment the revenue of the Company.

• The manufacture of Shuttleless Weaving Machines requires heavy investment in capital equipment as well as in acquiring technology. Due to techno economic viability the manufacture of Shuttleless Weaving Machines is deferred.

2017-18

Here - FV = 100

• The Company’s income mainly consists of Warehousing Rental income on Land and Buildings at Hosur. In view of the demand for Warehousing Space at Hosur, being near to Bangalore, the Company is constructing additional Buildings in the existing land to augment its revenue.

2018-19

• The income generated from Warehousing Rental Services during the year was ₹ 481.34 lakhs against ₹ 458.75 lakhs in the previous year.

2019-20

• The income generated from Warehousing Rental Services during the year was ₹ 594.62 lakhs against ₹ 481.34 lakhs in the previous year.

• The additional warehouse constructed during the Financial Year has been let out to a corporate tenant for five years. Further addition of warehousing capacity proposed to be taken up depending on the demand post COVID-19 situation.
  The Company is concentrating on Warehousing Rental Services for augmenting its revenue on constructing additional Buildings.

2020-21

• The income generated from Warehousing Rental Services during the year was ₹ 657.47 lakhs against ₹ 594.62 lakhs in the previous year. During the Financial Year due to the CoVID-19 pandemic, your Company had to give 50% rental deduction to all the tenants in April 2020 and May 2020.

• Further addition of 40,000 Sq ft Building is proposed to be taken up during the current Financial Year. The construction will be taken up on receipt of necessary Building Plan approval from the Government Authorities. The CoVID-19 pandemic lockdown has delayed in receiving the Plan approval.

2021-22

• To declare a Dividend for the year ended 31st March, 2022.
  or the Financial Year 2021-22, the Board of Directors at their meeting held on 26th May, 2022, have recommended a Dividend of ₹10/- per Share (10%) on the paid-up Share Capital of 6,68,750 Equity Shares of ₹ 100/- each. Subject to the approval of Shareholders, an amount of ₹ 66.88 Lakhs will be paid as Dividend after deducting applicable taxes.

• The income generated from Warehousing Rental Services during the year was ₹768.77 lakhs against ₹ 657.47 lakhs in the previous year.

• Further addition of 40,000 Sq ft Building is being taken up during the current Financial Year. The construction will commence on receipt of necessary Building Plan approval from the Government Authorities. Due to drafting / finalization of the revised master plan for Hosur, has delayed Building Plan approval.

• The warehousing market in India is expected to grow at a rate of 35 to 40 percent annually, displaying high potential for growth as reported by consulting firm PwC. The sector is fragmented with small players holding small units distributed across states offering warehouse space at competitive rates. The location and the Company’s buildings with large space is an added advantage for corporate clients.