LMW Board Approves FY26 Results, Recommends 350% Dividend, Appoints New Auditor & MD
LMW Limited reported audited financial results for FY26. The Board recommended a dividend of ₹35 per share (350%). Sri Sanjay Jayavarthanavelu was re-appointed as MD for 5 years from April 1, 2027. M/s Brahmayya & Co. were recommended as new Statutory Auditors for 5 years. The 63rd AGM is on July 24, 2026.
The announcement includes multiple material events: approval of financial results, dividend recommendation, change of statutory auditors, and reappointment of key management personnel, which have a significant impact on the company's governance and financial outlook.
The company announced positive financial results, recommended a significant dividend, and made key appointments and auditor changes, all of which are generally viewed favorably by the market.
LMW Limited (formerly Lakshmi Machine Works Limited) announced key decisions made by its Board of Directors during a meeting held on May 20, 2026.
The Board approved the audited financial results for the quarter and year ended March 31, 2026, both on a standalone and consolidated basis. These results will be published in Business Line and Hindu Tamil newspapers on May 21, 2026.
The company recommended a dividend of ₹35 per equity share (350%) for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The 63rd AGM is scheduled to be held on Friday, July 24, 2026, through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).
In a significant change, the Board recommended the appointment of M/s Brahmayya & Co., Chartered Accountants, Chennai, as the new Statutory Auditors for a term of five consecutive financial years, commencing from FY 2026-27, replacing M/s S Krishnamoorthy & Co. who retire at the conclusion of the 63rd AGM.
Furthermore, the Board approved the re-appointment of Sri Sanjay Jayavarthanavelu as Managing Director for a further period of five years, commencing from April 1, 2027, subject to shareholder approval. Sri M Sankar was re-appointed as Whole-time Director (Director Operations) for three years from October 25, 2026. Sri Aroon Raman was recommended for re-appointment as an Independent Director for a second term of five years from May 11, 2027.
Sri Chandrashekar R has been appointed as Head – Foundry and Advanced Technology Centre (ATC) and will be part of the Senior Management Personnel (SMP) effective May 20, 2026. Sri Narayanan Vellayan has been recommended for appointment as an Independent Director for a period of five years from July 25, 2026.
Additionally, Sri A N Raman has been appointed as the Cost Auditor for the financial year 2026-27. The Board also recommended obtaining shareholder approval for material related party transactions with Lakshmi Electrical Control Systems Limited.
The company also approved an additional investment in its wholly-owned subsidiary, LMW Holding Limited, DIFC, United Arab Emirates. The Register of Members and Share Transfer Books will be closed from July 18, 2026, to July 24, 2026, for dividend determination, with a record date set for July 17, 2026.
What to do with a filing like this
LMW Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by LMW Limited. Read the original for the full detail.