LMW Limited (LMW) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Cofacto Research Published October 16, 2026 4 min read

LMW Limited is a Coimbatore-based precision engineering company with four divisions — textile machinery, machine tools, aerospace/defence components (ATC) and foundry — whose quarter is playing out against a textile machinery demand cycle that has seen eight consecutive quarters of lower order inflow. The print will speak to whether the total order book stabilises after sliding from Rs. 2,700 Crore in Q2 FY26 to Rs. 2,600 Crore in Q3 FY26, and whether utilization-linked margin improvement moves off TMD's reported 40-45% level.

Quick Details

Results date	October 21, 2026
Quarter	Q2 FY 2026-2027
Previous quarter revenue	Rs. 8,607,200,000 (consolidated, Q1 FY2026-27)
Previous quarter PAT	Rs. 555,200,000 (consolidated, Q1 FY2026-27)
Market cap	Rs. 17,044.73 Cr
CMP	Rs. 15,955.0

LMW Limited Q2 Results Date and Time

The board is scheduled to meet on 21 October 2026 to approve results for the quarter and half year ended 30 September 2026. The trading window remained closed from 1-23 October 2026.

Key Things To Watch

TMD order inflows and utilization: The dominant overhang is whether the textile machinery order book has stopped declining.

Whether the total order book stabilises above or below the Rs. 2,600 Crore Q3 FY26 print after the slide from Rs. 2,700 Crore in Q2 FY26
Any movement in TMD utilization off the reported 40-45% level, against eight consecutive quarters of lower order inflow
Order-book conversion progress, given TMD orders typically convert over 12-18 months

Margin bridge and utilization-linked guidance

Whether the double-digit margin guidance is reiterated and, for the first time, anchored to a timeframe tied to the 90-95% utilization trigger
TMD segment PBIT was just Rs. 0.04 Cr in Q1 FY27 — essentially breakeven — against MTD utilization of 75% in Q3 FY26

ATC execution and customer concentration

Order intake and delivery progress against the Rs. 360 Crore ATC book, which converts over 24-36 months
Capex pace versus the approximately Rs. 250 Crore invested to date (Rs. 25 Crore in H1 FY26), which supports Rs. 300 Crore of turnover capacity
Concentration risk: 60-70% of ATC revenue comes from a few OEMs, with approximately 90% of the business exported

Tariff impact and subsidiary losses

Standalone-versus-consolidated gap of Rs. 10.49 Cr in Q1 FY27, and LMW Global / LMW China loss trajectory versus 9M FY26's Rs. 25 Crore / Rs. 11 Crore losses

Diversification into new sectors

Progress on the newly approved diversification into pharma, EVs, renewables, electronics, robotics and related fields, following the Objects Clause amendment passed with 96.56% assent in September 2026, including any stated implementation priorities

Frequently Asked Questions

How did LMW perform in Q1 FY27?

Standalone revenue from operations was Rs. 853.30 Cr with PAT of Rs. 66.01 Cr, versus Rs. 685.37 Cr and Rs. 24.47 Cr respectively in Q1 FY26. Consolidated revenue from operations was Rs. 860.72 Cr with PAT of Rs. 55.52 Cr.

What is LMW's current order book size?

The total order book was Rs. 2,600 Crore in Q3 FY26, including Rs. 1,500 Crore of confirmed orders, down from Rs. 2,700 Crore in Q2 FY26. The ATC order book was Rs. 360 Crore, up 20% from Rs. 300 Crore, with deliveries expected over approximately 1.5 years.

When does LMW expect double-digit margins?

Management has guided that margins will improve to double digits as utilization reaches 90-95%, but this is open-ended guidance with no stated timeframe. MTD utilization was 75% in Q3 FY26, while TMD utilization was reported at 40-45%.

What new businesses is LMW diversifying into?

A Memorandum of Association Objects Clause amendment passed with 96.56% assent in September 2026 enables activities across pharmaceuticals and life sciences, chemicals and advanced materials, electric and clean-energy vehicles and storage, electronics and semiconductors, power, renewables and green hydrogen, and robotics, drones, AI/ML and IT services.

What credit rating does LMW hold?

CRISIL assigned LMW a corporate credit rating of AA with a Stable outlook on 7 August 2026.