LMW 50 years of fortitude

By K. Gopalakrishnan & Ganesh Kalidasan

LMW has played a significant role in making the Indian spinning industry globally competitive. It is no exaggeration to say that there is an LMW machine in every textile mill in India. The group manufactures the entire range of spinning machinery. It is not only the leader in the domestic market, but also a major exporter of textile spinning machines worldwide.

The foundation of what later grew to become the pride of the Indian textile industry was laid in 1962 by the late Cavalier Dr. G.K. Devarajulu. A visionary entrepreneur, an avowed nationalist and a committed philanthropist, GKD, as he is affectionately known to all, helped pave the way for India’s gaining self-sufficiency in textile machinery manufacturing. GKD was a legend in his own lifetime. Indeed a colossus he strode a period of history when the Indian industry was at a fledgling stage and lived to see it firmly placed on the industrial map of the world. In fact, it is widely believed that the emergence of Coimbatore as an industrial city is largely on account of his individual efforts as a visionary industrialist.

His prodigy son, the late Dr. D. Jayavarthanavelu, strove for realising GKD’s vision. Known for his crystal clear vision, Jayavarthanavelu was endowed with a winning combination of unmatched precision and performance. He was one among those who belonged to a rare breed of professionals that stood apart in the corporate world. Under his enlightened stewardship, Lakshmi Machine Works has scripted many a success story.

On October 29, 2012, his son, Mr. Sanjay Jayavarthanavelu, was appointed Chairman of the company. Earlier joining the Board as a member in 1993, he assumed office as Managing Director of the company in 2010 succeeding his father.

LMW has lived through many high dramas in the textile industry, never wavering from its chosen path. It is undoubtedly one of the best managed companies in India – best in the manner in which it operates, best in the products manufactured and best in its value system and ethics.

The future promises plenty for LMW as Mr. Sanjay Jayavarthanavelu sets the agenda for the next phase of its evolution. On this momentous occasion, we spoke to the newly-elected Chairman and to some of the esteemed customers of the company on their long and cherished relationship with the company, which we present below in brief.

We wish Mr. Jayavarthanavelu and LMW all success in their future endeavour and hope that in the next 50 years the group becomes an Indian business conglomerate carrying the same sense of customer trust that it is known for today.

Excerpts from an interview with Mr. Sanjay Jayavarthanavelu, Chairman and Managing Director of LMW:

Question: The 2012 marks the completion of 50 years for LMW. Looking back, what would you say are the achievements and key contributions made by LMW to the Indian textile industry? How would you look at the journey so far?

Answer: The 50-year journey for LMW has been a soul satisfying one. LMW which has been successful throughout delivers to the user industry its Founder Chairman’s vision of providing the Indian textile industry with world class machinery at affordable prices. LMW so far has serviced the textile industry with the installation of over 34 million spindles in India, contributing to the competitiveness of the Indian spinning industry at the global level.

We have with us a heritage of 50 years, thanks to the far-fetched vision of the Founder Chairman, flawless execution of strategy by our past Chairman and Managing Director, efforts of our employees and the trust of our customers. LMW today is a social institution that dynamically interacts, fosters, supports and benefits many stakeholders.

Q: LMW is undoubtedly the market leader in the spinning machinery segment. How did the group establish leadership in this segment?

A: Leadership through Excellence. We strive with total dedication and conviction. All our plans and actions are driven by our objective – Innovation and Value Creation to all our stakeholders. With continuous R&D and offering products required for the user industry, LMW is sure to maintain the market leadership.

Q: Your customers feel that “LMW is the pride of Indian Textile Industry”. What do you cite as the reason for such high level of confidence among customers?

A: LMW’s relationship with customers does not end with supply of machinery. LMW has always been like a partner to the end-user and is involved right from the planning stage to execution of the plant, followed by after-sales service and components support.

Q: India is gradually becoming a hub for global textile machinery manufacturers with European and Chinese machinery manufacturers expanding their presence in India. How is LMW gearing up to face competition in its home turf?

A: Asia is gradually becoming a hub for global textile machinery manufacturers. Competition in any industry is always welcome. LMW’s continuous thrust on Innovation & Value Creation and offering the industry with the relevant technology will continue to make the end-user prefer LMW’s solution.

The technology and quality of machinery offered by LMW is one of the best and also contemporary. LMW with its array of products in all the three sub-systems is very well positioned to meet competition.

Q: What about annual investment in research and new product development?

A: Research and development is a continuous process, in order to fulfill the market needs and customer expectations. LMW gives utmost importance to R&D development, and investments towards R&D ensure that the textile industry is provided with the latest state-of-the-art technology. Our R&D efforts are well reflected in the products that roll out of our company regularly.

Q: LMW is known for its innovations and technologies in the field of spinning systems? Can you throw light on some of the path-breaking initiatives taken in recent years?

A: The path-breaking innovations and technologies related to key products are the Swift Floc, which represents economical automation in plucking machines; the Comber LK69, a pioneering 600 npm combing technology; and the Compact Ring frame LRJ 9 Series, the simplest and most cost-effective compacting technology based on the suction principle.

Q: How was the first half of the financial year 2012-13? Are there clear signs of market recovery?

A: The first half of 2012-13 had mirrored the global and domestic happenings in the industry – slowdown in all areas. With the announcements of revival packages for the textile industry by different State Governments, the second half of the year might prove fruitful. However, a clearer picture will emerge only in 2013-14.

Q: Having completed 50 years of successful presence in the Indian and global textile industry, what are LMW’s plans for the future?

A: There is a saying’ “Future belongs to the Believers”. Success is only a milestone reached before the next journey begins. We are conscious of this fact, and all our activities are tuned to synergise our efforts to provide the best to all our stakeholders. LMW will work towards providing the best return on investment to customers.