Focusing more on productivity enhancement machines

October 4, 2021 2:56 pm

We practice TQM methodology in all our operations and this helps us stay focused and consistent.

What are the prospects of the CNC Machine Tools industry in India presently? 

India occupies 10th position in global machine tools production. Its share in global production is about 0.9 percent. The machine tools market in India is poised to grow by 14000 Crore during 2020-24, progressing at a CAGR of nearly 13 percent during the forecast period. 

Factors: 

• The auto sector, a major user of machine tools, is set to grow 3.5 to 4 times from its current size of `5.7L Crore to reach about `23.4L Crore by 2026. 
• Rise of Electric Vehicles to play a major role as the EV market size to cross `1600 Crore by FY 2023 
• Indian government plans to spend `70,221 crore over the next five years to achieve self-reliance in defence production 
• India is estimated to become the third-largest aviation market in the world by 2025, and will likely need nearly 1,500 new commercial aircraft by 2030. 
• Government Policies: 
• 100 percent foreign direct investment (FDI) is allowed 
• Import duties have been consistently reduced 
• Exports are being recognised as a national priority by all union and state government agencies. 

Brief us about Lakshmi Machine Works Ltd. with product line-up and which one of the product segments commands a major share in the market? 

We have a legacy of introducing world class products & we manufacture India’s Finest Range of CNC Turning Centres, Machining Centres and Turn-mill centres for a wide range of industries. Our customer database extends from small job shop to OEM’s with 20,000 plus machines working at every part of India supported by a vast sales and service network. Our machines command a major share in the market. 

We have a strong R&D team who are fully capable of delivering state of the art products. We learnt a lot from our previous collaboration in the initial phase of manufacturing.We do take assistance from some globally renowned specialists or institutions for specific requirements if the need arises. 

What various export markets are being catered to with the company’s presence and which products are majorly in demand? 

We export to Russia, Vietnam, Bangladesh, China, United Arab Emirates (UAE), Saudi Arabia & Kenya. We are looking at increasing our presence in South Eastern countries also. Both Turning Centres and Machining Centres are majorly in demand 

Where is the company’s manufacturing facility and what standards are being followed in consonance with norms of quality production? 

Our Manufacturing facilities are based out of Coimbatore, Tamil Nadu; we follow all the statutory norms. For machine building and testing we adopt ISO standards, JIS, VDI, DGQ based on the client requirement. We practice TQM methodology in all our operations and this helps us stay focused and consistent in all the activities, production process & sales/ service processes. In short, we are able to improve both our efficiency and effectiveness. The net result is that we are able to meet the customers demand in terms of quality as well as delivery time. 

What various products are being manufactured by your company and what is approx. turnover? 

We in LMW have 4 verticals and I would restrict to LMW, Machine Tool Division (MTD), we manufacture CNC Turning Centres, Machining Centres & Turnmill centres with over 65 plus models & variants serving a wide range of industries. We did very well in the last FY in spite of nearly 3 months of loss of production due to covid. We hope to surpass this performance substantially this financial year. 

What are expansion plans for the next three years? 

Looking at the future demand we have already expanded some of our facilities, with regards to products we will be introducing at least 10 new products year on year. We shall also be addressing solutions for the new age materials like Inconel materials, composites etc., for aerospace and defence. Next 3 years, we will be focusing more on productivity enhancement machines along with automation & IOT solutions.