|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, and
built 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, Rane
Engine valves etc.
LML achieved a significant breakthrough by winning a prestigious turnkey
order 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 machines
and 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 COMPANY
1983-84 Â· Incorporation of the Company
Â· Certificate of Commencement of Business
1988-89 Â· Entry into auto market Order received from Bajaj Auto.
Â· Company achieves landmark of Rs. 1 crore turnover.
1994-95 Â· Turnover exceeds Rs. 5 crores for the first time
Â· Formation of Auto Component Division.
1995-96 Â· Contract signed with Mahindra & Mahindra for machining Cylinder
Â· Bagged orders from Ashok Leyland and Escorts for SPMs
Â· Investment in the shares of the company by Gujarat Venture
1996-97 Â· Crossed landmark of Rs. 10 crore turnover.
1997-98 Â· Formation of CNC Division.
1998-99 Â· Formation of countrywide Dealer Network for CNC Division
Â· Turnkey Contract signed with L & T John Deere Ltd. for Total
Cylinder Block Semi automatic line supply
1999-2000 Â· Crossed the landmark of Rs. 20 crores turnover
Â· Bagged and executed the first export order
2000-01 Â· Signed contract for machining 2nd and 3rd machining line for
Mahindra & Mahindra Cylinder Blocks
2002-03 Â· Best Exporter Award from Dr Sir M Visveswaraaiah Industrial
Awards in the year 2001
2003-04 Â· 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.
Â· Certification for ISO 9001-2000 received for Machine Tool Division
and QS -9000 for Auto Components Division
2004-05 Â· Export of 2 machines to AVM Angelini, Italy
Â· Doubled capacity for supply of cylinder blocks to Mahindra &
Â· Export orders bagged for 25 machines valued at 375,000 Euro
2005-06 Â· Bagged confirmed export orders for 42 machines valued at 630,000
Â· Contract finalized with M/s Wenig-Wemas for export of lathes and
VMCs to Europe
Â· Recommendation obtained for TS-16949:2002 certification for
Quality Management System for machining of Automotive
-Company has designated the email id and created email@example.com for registering the investor complaints.
-Smt. Bhavana Rao is appointed as Director (Nominee, M/s. IFCI Venture Capital Funds Ltd) on the Board of the Company.
-Board of Directors of the Company has approved the Appointment of Mr. K. Durgadas Maiya as Company Secretary and Compliance Officer of the Company.
-Board of Directors of the Company has approved the Appointment of Mr. D. Ragha Vendra Rao as Company Secretary and Compliance Officer of the Company.
-The Board have recommended a Final Dividend of 5% i.e. Rs. 0.50/- on face value of Rs. 10/- each.