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Lokesh Machines Ltd, a Hyderabad-based machine tool company, has embarked on a process to expand and modernise operations and is adding an auto component tool line. While the new assembly line for Ashok Leyland Ltd, would be ready by this October, the modernisation project would be completed by March 2007. The company is entering the capital market with a maiden offer of 30 lakh equity shares of Rs 10 each at a premium, to part fund its expansion and modernisation drive. Established in 1984, Lokesh Machines has grown to a company with revenues ofRs 100 crore. In the last five years, it has registered a compounded annual growth rate of 30 per cent. Its machine tools, special purpose machines (SPMs) and CNC lathes are used by top automotive companies like Mahindra & Mahindra, Ashok Leyland, Tata Motors, etc. Currently, exports to Germany and Japan account for about 10 per cent of the overall revenues and is expected to grow to about 25 per cent within five years. The modernisation and upgradation of the existing facilities for the CNC machine tools is aimed at meeting this growing demand, according to the company. The company has orders of about Rs 150 crore, which includes two orders from Germany and Italy.
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| Posted : 4/28/2006 |
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