Lokesh Machines Limited (LOKESHMACH)
₹342.80 -5.88% last close, 23 Oct
Snapshot
Lokesh Machines Limited closed at ₹342.80 on 23 Oct 2026, 25.5% above its 200-day average, with an RSI(14) of 37.5 and a P/E of 169.19. On the daily chart it is in a range, with a technical score of 40/100 (neutral). In the quarter ended June 2026, revenue grew 15.4% and net profit grew 119.6% from a year earlier. Data as of 23 Oct 2026.
Price
- Price
- ₹342.80
- Day change
- -5.88%
- Market Cap
- ₹747 Cr
- 52-week range
- ₹138.96 – ₹488.00
- From 52-week high
- -29.75%
Financials23 Oct 2026
- P/E
- 169.19
- P/B
- 3.28
- ROE
- 1.9%
- ROCE
- 6.0%
- Debt to Equity
- 0.74
- OPM
- 18.2%
- YoY qtr sales growth
- 15.4%
- YoY qtr profit growth
- 119.6%
- Dividend Yield
- 0.00%
Latest quarter Jun 2026 · Standalone
Technicals23 Oct 2026
- Trend
- Range
- Technical score
- 40/100 · Neutral
- MACD
- Bearish
- RSI (14)
- 37.45
- ADX (14)
- 27.81
- SuperTrend
- Bearish
- vs 20-day SMA
- -15.04%
- vs 50-day SMA
- -5.97%
- vs 200-day SMA
- +25.45%
- RS rating
- 93.00
- Nearest support
- ₹320.73
- Nearest resistance
- ₹385.80
Exchange activity23 Oct 2026
- Delivery
- 49.37% vs 48.78% average
- Volume vs its average
- 1.0×
Events
- Latest results
- Q1 FY27, filed 15 Aug 2026
- Board meeting filing
- 12 Aug 2026
Exchange data. Each figure as its own page shows it; the dates are the data's. Information only, not investment advice.
📈 Share price & events
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Lokesh Machines' revenue was ₹55.5 Cr (+15.4% year on year, -6.6% on the previous quarter), and net profit ₹1.0 Cr (+119.6% year on year); the operating margin was 17.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹55.5 | +15.4% | -6.6% |
| Operating profit | ₹9.6 | +11.5% | -8.5% |
| Net profit | ₹1.0 | +119.6% | -53.0% |
| EPS (₹) | 0.49 | +113.0% | -54.6% |
| Operating margin | 17.3% | — | — |
LOKESHMACH delivery percentage
NSE end-of-day data for
On Fri, 23 Oct 2026, 49.37% of the LOKESHMACH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.78%. That is close to its usual level.
Delivery in the last 5 sessions: 51.5% · 51.1% · 49.4% · 40.2% · 49.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Lokesh Machines Limited has secured a domestic supply order valued at Rs 3,13,57,320 (inclusive of duties and taxes) from HQ Eastern Command, Indian Army. The contract involves the supply of 9 MM Carbine Machine Guns, expanding the company's presence to two active commands of the Indian Army following a September 2024 supply to Northern Command. While financially small relative to quarterly revenues of ~Rs 50 crore (representing ~6.2% of Q3 FY26 revenue), it validates the company's position as an indigenous private small arms manufacturer.
- Order value of Rs 3,13,57,320 (inclusive of duties and taxes)
- Contract awarded by HQ Eastern Command, Indian Army, Ministry of Defence
- Scope covers the supply of indigenous 9 MM Carbine Machine Guns
- Marks footprint in a second active command after Northern Command supply in September 2024
Lokesh Machines Limited received an order from the Employees' Provident Fund Organisation (EPFO), Regional Office Pune, for outstanding dues amounting to Rs 1,15,69,852 (~Rs 1.16 crore). The order pertains to alleged PF contribution differences for employees, NEEM trainees, and other trainees spanning October 2010 to January 2018. The company stated it has a strong case on merits, foresees no material financial or operational impact, and is evaluating legal remedies. With quarterly revenues around Rs 50 crore, the demand represents roughly 2.3% of single-quarter sales.
- EPFO Pune raised a demand for outstanding dues of Rs 1,15,69,852
- Pertains to alleged PF contribution differences for regular staff and NEEM trainees between 10/2010 and 01/2018
- Order received by the company on October 09, 2026
- Company reports no material operational impact and is evaluating legal remedies
Lokesh Machines Limited announced the resignation of its Company Secretary and Compliance Officer, Mr. P. Kodanda Rami Reddy, on October 1, 2026. He will step down at the close of business hours on October 10, 2026, to pursue outside professional opportunities. The departure represents a standard secretarial transition without operational disruptions reported. The company will need to appoint a successor to manage listing and compliance responsibilities.
- Resignation letter submitted on October 01, 2026
- Cessation effective at the close of business hours on October 10, 2026
- Reason cited as pursuing outside professional opportunities and growth
Lokesh Machines has announced the resignation of Mr. P. Kodanda Rami Reddy from the position of Company Secretary and Compliance Officer, effective close of business hours on October 10, 2026. The resignation letter was tendered on October 1, 2026, citing pursuit of other professional opportunities. This is a routine secretarial-level departure with no impact on core operations or financial performance.
- Resignation tendered on October 01, 2026, citing professional opportunities and growth
- Cessation date effective from close of business hours on October 10, 2026
- Covers the roles of both Company Secretary and Compliance Officer
Lokesh Machines Limited has appointed Mr. G. Ranganath as Vice President - Operations and designated him as Senior Management Personnel, effective September 17, 2026. Mr. Ranganath brings 30 years of industry experience across automotive and engineering firms including Endurance Technologies and Rane Group. He holds a Mechanical Engineering degree and an MBA in Operations Management, specializing in plant operations and Total Quality Management (TQM). The appointment comes as the company manages operational execution across its 6 manufacturing units and expanding defence division.
- Appointed Mr. G. Ranganath as Vice President - Operations effective September 17, 2026
- Designated as Senior Management Personnel under Regulation 16(1)(d) of SEBI Listing Regulations
- Appointee brings 30 years of industry experience across plant operations and TQM
- Terms of appointment confirmed as full-time employment
Lokesh Machines has received trading approval from NSE and BSE for 5,00,000 equity shares of face value Rs. 10 each, allotted to non-promoters upon the conversion of warrants. The shares were issued at a premium of Rs. 171.71 per share (issue price of Rs. 181.71 per share). Effective dealings on the exchanges commence on September 10, 2026. The newly listed shares are subject to a lock-in period ending on March 31, 2027.
- 5,00,000 equity shares of Rs. 10 face value approved for trading on NSE and BSE
- Shares issued at a premium of Rs. 171.71 per share upon warrant conversion
- Trading commences effective September 10, 2026
- Allotted shares are under lock-in until March 31, 2027
CARE Ratings has reaffirmed Lokesh Machines Limited's credit ratings across ₹204.48 crore of bank facilities. Long-term bank facilities of ₹159.98 crore have been reaffirmed at 'CARE BBB-; Stable'. Short-term bank facilities amounting to ₹44.50 crore have been reaffirmed at 'CARE A3'. The reaffirmation indicates stability in the company's credit risk profile and borrowing costs across its operational facilities.
- Long-term bank facilities of ₹159.98 crore reaffirmed at CARE BBB-; Stable
- Short-term bank facilities of ₹44.50 crore reaffirmed at CARE A3
- Total bank facilities rated stand at ₹204.48 crore
- Rating action concluded and reported on September 09, 2026
Lokesh Machines Limited has issued the notice for its 42nd Annual General Meeting (AGM) scheduled for September 22, 2026, via video conferencing. The agenda includes standard ordinary business such as the adoption of FY26 financial statements and the re-appointment of promoter director Mr. K. Krishna Swamy, who is retiring by rotation. Members will also vote on ratifying ₹1,00,000 remuneration for cost auditors M/s Naval & Associates for FY27. The register of members and share transfer books will remain closed from September 16, 2026, to September 22, 2026.
- 42nd Annual General Meeting scheduled on September 22, 2026, at 11:00 AM IST via VC/OAVM
- Register of Members and Share Transfer Books closed from September 16, 2026, to September 22, 2026
- Approval sought for cost auditor remuneration of ₹1,00,000 plus up to ₹10,000 out-of-pocket expenses for FY27
- Proposed re-appointment of 85-year-old promoter non-executive director Mr. K. Krishna Swamy retiring by rotation
Lokesh Machines Limited has submitted the quarterly Certificate for Utilization of Issue Proceeds for the quarter ended June 30, 2026. The certificate has been issued by the company's statutory auditors, Brahmayya & Co. This submission complies with the BSE Limited in-principle approval letter dated April 30, 2026. Specific fund allocation amounts were not disclosed in the cover filing.
- Quarter ended: June 30, 2026
- BSE in-principle approval reference date: April 30, 2026
- Statutory auditor issuing certificate: Brahmayya & Co
- Filing submitted on August 18, 2026
Lokesh Machines Limited has received listing approvals from BSE and NSE for 5,00,000 equity shares of face value Rs 10 each. These shares were allotted to non-promoters upon the conversion of warrants issued on a preferential basis. Following this listing, the company's total listed capital increases to Rs 21.80 crore across 2,17,96,770 fully paid-up equity shares. Trading will commence upon confirmation of credit to beneficiary accounts by depositories (NSDL/CDSL).
- Listing approval granted for 5,00,000 equity shares of Rs 10 each allotted on preferential basis
- Post-allotment listed capital expands to Rs 21,79,67,700 comprising 2,17,96,770 equity shares
- Shares allotted to non-promoters pursuant to warrant conversion (distinctive nos. 21296771 to 21796770)
- Approvals issued by BSE on August 13, 2026 and NSE on August 14, 2026
Lokesh Machines Limited has submitted its statement of deviation or variation for the quarter ended June 30, 2026, as required under SEBI Regulation 32. The company confirmed there was no deviation or variation in the utilization of proceeds from the issuance of Equity Shares and Convertible Warrants. These funds were raised following an Extraordinary General Meeting held on April 03, 2026. The statement has been reviewed by the Audit Committee, confirming that capital deployment remains aligned with the objects stated in the March 06, 2026 notice.
- Zero deviation reported in the utilization of proceeds for the quarter ended June 30, 2026
- Funds were raised via Equity Shares and Convertible Warrants following an EGM on April 03, 2026
- The initial notice calling for the fundraise was dated March 06, 2026
- The Audit Committee has reviewed and approved the statement of utilization
Lokesh Machines reported a 15.4% YoY revenue growth to ₹55.46 cr for Q1 FY27, with PAT surging 121.7% to ₹1.01 cr. A pivotal development is the removal from the US OFAC SDN list on June 30, 2026, which is expected to reopen export channels and banking in USD/EUR from Q2 onwards. The Defense & Components division saw a massive 693% YoY revenue jump to ₹15.55 cr, now contributing 27.9% of total revenue. The current order book of ₹271 cr provides strong visibility, exceeding the entire FY26 revenue of ₹209.62 cr by approximately 29%.
- Order book of ₹271 cr as of August 12, 2026, representing ~129% of FY26 total revenue
- Defense & Components revenue grew 693% YoY to ₹15.55 cr with a 13.8% PBIT margin
- Removal from US OFAC SDN list on June 30, 2026, restoring USD and EUR banking channels
- Preferential equity infusion of ₹23.62 cr during Q1 FY27 to support deleveraging and expansion
- PAT increased 121.7% YoY to ₹1.01 cr, despite high finance costs of ₹4.65 cr
Lokesh Machines reported a 15.4% YoY revenue growth to ₹55.46 Cr for Q1 FY27, with Net Profit doubling to ₹1.01 Cr from ₹0.46 Cr. A major regulatory milestone was achieved as the US OFAC officially delisted the company from the Sanctions (SDN) list on June 30, 2026, restoring its ability to conduct foreign currency transactions. The Components Division saw a massive surge, with revenue jumping to ₹15.55 Cr from ₹1.96 Cr YoY. The company also strengthened its balance sheet through a preferential allotment of 13 lakh shares and 27.78 lakh warrants at ₹181.71 each.
- Net Profit surged 121.7% YoY to ₹1.01 Cr in the quarter ended June 30, 2026
- Revenue from operations increased 15.4% YoY to ₹55.46 Cr
- Components Division revenue grew by ~694% YoY to ₹15.55 Cr
- US OFAC delisted the company from the SDN list on June 30, 2026, unblocking all property and interests
- Allotted 13,00,000 equity shares and 27,77,919 warrants on a preferential basis at ₹181.71 per unit
Lokesh Machines Limited has secured a significant domestic order worth Rs 58.21 crore from the Ministry of Defence (Army) for the supply of MOD kits for 7.62MM Medium Machine Guns. This single order is highly material, representing approximately 29% of the company's estimated annual revenue based on its recent quarterly run rate of ~Rs 50 crore. The contract validates the company's strategic shift into the Defence Division, which is a key growth area intended to offset the 22.18% turnover decline caused by US OFAC sanctions on its machine tool business. This win reinforces Lokesh Machines' position as a private sector supplier of small arms and precision assemblies to the Indian military.
- Received a domestic supply order worth Rs 58,20,89,421 inclusive of all duties and taxes.
- Order awarded by the Integrated Headquarters, Ministry of Defence (Army), Government of India.
- Scope involves the supply of MOD kits for 7.62MM Medium Machine Guns.
- Order value exceeds the company's entire Dec 2025 quarterly revenue of Rs 50.89 crore.
- Strategic win for the Defence Division, which is the company's primary growth focus.
Lokesh Machines Limited has allotted 5,00,000 equity shares to a non-promoter investor, Mr. Ashok Atluri, following the conversion of warrants. The company received the balance 75% exercise price amounting to Rs 6.81 crore, based on an issue price of Rs 181.71 per share. This conversion is part of a larger preferential issue of 27,77,919 warrants initiated in May 2026. Consequently, the company's paid-up equity capital has increased to Rs 21.80 crore.
- Allotment of 5,00,000 equity shares at a total issue price of Rs 181.71 per share
- Receipt of Rs 6,81,41,250 representing the 75% balance exercise price from the allottee
- Total paid-up equity capital increased from approximately Rs 21.30 Cr to Rs 21.80 Cr
- The conversion involves a premium of Rs 171.71 per share over the face value of Rs 10
- Remaining warrants from the original May 2026 allotment of 27,77,919 units are yet to be converted
Company profilewritten 14 Dec 2025
Financial Performance
Revenue Growth by Segment
Overall revenue declined 22.22% in FY2025 to INR 228.32 Cr from INR 293.54 Cr in FY2024. The Machine Tools Division saw healthy growth in H1 FY2025 but was derailed by sanctions in H2. H1 FY2026 revenue further moderated to INR 98.48 Cr, a 28.55% decline compared to INR 137.84 Cr in H1 FY2025.
Geographic Revenue Split
The company exports to over 7 countries including Russia, Italy, the US, Bahrain, and Turkey. Specific percentage split per region is not disclosed, but international operations were severely impacted by the inability to enter foreign currency transactions since October 30, 2024.
Profitability Margins
Net Profit (PAT) fell sharply by 96.12% to INR 0.54 Cr in FY2025 from INR 13.85 Cr in FY2024. PAT margin plummeted from 4.72% to 0.24% due to higher depreciation and finance costs. Gross margins are exposed to raw material price fluctuations with a time lag in passing costs to customers.
EBITDA Margin
EBITDA margin decreased from 13.88% in FY2024 to 12.51% in FY2025. This 137 bps compression was driven by a decline in the scale of operations while fixed costs remained relatively unchanged.
Capital Expenditure
Promoters infused INR 15.56 Cr in FY2025 through the conversion of warrants into equity to bolster liquidity. No major debt-funded capital expenditure is planned for the near term to maintain the financial risk profile.
Credit Rating & Borrowing
CARE downgraded long-term facilities to CARE BBB-; Stable from CARE BBB; Negative and short-term facilities to CARE A3 from CARE A3+. Acuite placed ratings under 'Rating watch with Negative Implications' due to OFAC sanctions.
Operational Drivers
Raw Materials
Electronic components (specifically noted as disrupted by sanctions), steel, and castings for machine tool manufacturing. Specific percentage of total cost for each is not disclosed.
Import Sources
Not disclosed in available documents, though disruption occurred in the supply of electronic components from a key international supplier due to OFAC sanctions.
Key Suppliers
Not disclosed in available documents; however, a 'key supplier' of electronic components suspended operations with the company following the October 2024 sanctions.
Capacity Expansion
Operates 6 manufacturing units across Hyderabad and Pune. While specific MT/unit capacity is not disclosed, the company is focusing on harnessing expanded capacities in the Defence Division to introduce new product lines.
Raw Material Costs
Raw material costs are a significant portion of the cost structure; margins are exposed to price fluctuations because the order-based nature of operations creates a time lag in adjusting final product prices.
Manufacturing Efficiency
Manufacturing efficiency is supported by a workforce of 651+ employees and investments in training to ensure they are adept with latest technologies. Specific utilization % is not disclosed.
Strategic Growth
Growth Strategy
Growth is targeted through the Defence Division, where LML is the first private Indian company to supply small arms to elite forces. Strategy includes expanding geographic reach, entering new territories for machine tools, and diversifying into the forgings segment with new orders from customers in Pune.
Products & Services
Cam & Crank Borers, Fine Borers, Finish Milling Machines, General Purpose Machines, Special Purpose Machines, and small arms (weapons) for the Indian Army, NSG, and BSF.
Brand Portfolio
Lokesh Machines Limited
New Products/Services
Small arms and precision assemblies for MMG weapons for the Indian Army; high-value machines added to the product range to improve average sales value and margins.
Market Expansion
Expanding into new domestic territories and international markets such as Russia and Italy, though currently constrained by sanctions.
Market Share & Ranking
Ranks among India's top five machine tool manufacturers; holds a leading position in Cam & Crank Borers, Fine Borers, and Finish Milling Machines.
Strategic Alliances
Collaborating with a US-based law firm for regulatory clearance and exploring forge work opportunities with other industry players to mitigate revenue loss.
External Factors
Industry Trends
The machine tool market is growing due to demand in aerospace, defence, and infrastructure. LML is positioning itself by shifting from pure automotive focus to indigenous defence manufacturing.
Competitive Landscape
Faces intense competition in the machine tool industry; competing with both domestic players and international manufacturers.
Competitive Moat
Moat is built on a 40-year legacy, top 5 market position in specific machine categories, and a first-mover advantage as a private sector small arms supplier to the Indian military.
Macro Economic Sensitivity
Highly sensitive to the cyclical nature of the auto-component industry and macroeconomic forces affecting machine tool demand.
Consumer Behavior
Shift toward indigenous 'Make in India' products in the defence sector is positively affecting demand for LML's new weapon systems.
Geopolitical Risks
Significant risk from US Department of Treasury sanctions (OFAC), which has led to a decline in operating income and restricted access to international financial systems.
Regulatory & Governance
Industry Regulations
Subject to Ministry of Home Affairs (MHA) approvals for defence manufacturing and US OFAC regulations which currently restrict international trade.
Environmental Compliance
Investing in Sewage Treatment Plants (STPs) to recycle wastewater and increasing green cover at manufacturing locations in Hyderabad and Pune.
Legal Contingencies
Application pending before the Office of Foreign Assets Control (OFAC), U.S. Department of Treasury, for removal from the sanctions list. The company is also representing to stock exchanges for a waiver of penalties related to independent director vacancies.
Risk Analysis
Key Uncertainties
The primary uncertainty is the timeline for removal from the OFAC sanctions list; continued inclusion will likely keep the scale of operations subdued. Potential impact is a continued 20-30% revenue suppression.
Geographic Concentration Risk
Manufacturing is concentrated in Hyderabad and Pune; export revenue is at risk due to current trade restrictions.
Third Party Dependencies
High dependency on a key supplier for electronic components, which caused production disruptions when the supplier halted shipments due to sanctions.
Technology Obsolescence Risk
Risk of falling behind in precision machining; mitigated by continuous investment in workforce training and new product development in the defence sector.
Credit & Counterparty Risk
Adequate liquidity with net cash accruals of INR 14.41 Cr against maturing debt of INR 8.86 Cr. Receivables quality is supported by established relations with government defence agencies and top-tier industrial clients.
