Now that business is returning to normal post the pandemic, Lakshmi Precision Technologies is gearing up for innovation and automation
Coimbatore-based Lakshmi Precision Technologies Limited (LPT), formerly known as Lakshmi Precision Tools Limited, has carved a niche for itself with its products for the textile industry, including ‘Dynadoff’ doffing solution for ring frames, ‘Gli-Clean’ overhead travelling cleaner and ‘Aero-Lite’ speed frame flyer. The company showcased two new products during the recently held Texfair 2022 trade show. “Of the two new products that were showcased, one is an updated version of our earlier doffing solution. The other one is a magazine feeder for autoconers,” said J Rajeshprabhu, Senior Manager (Marketing), LPT.
“These two products are part of our product line for automation. They are going to save considerably on manpower and enhance productivity. Plus, they are also going to have other cross-benefits for mills. Both these products have been indigenously developed. We displayed the demonstration unit at the show. We are planning a commercial launch somewhere in the month of November 2022 just before the India ITME 2022 trade fair. Presently, both these machines are going through an endurance run in the mills. The results have been encouraging,” he added.
Commenting on how FY 2021-22 was for the company, Rajeshprabhu said: “I can’t say that it was a total disaster. Post the slowdown in the pandemic, especially Q4, there were a lot of decisions being made. Several new projects were announced. We started booking a good number of orders. Medium-sized mills that were passing through a tough phase with many being on the verge of closure started to boom. FY 2022-23 has really started well. We hope for further growth in business in the near future.”
Optimism Prevails
Welcoming the government’s policy initiatives such as the PLI Scheme and the Mega Textile Parks Scheme as well as the push for the manmade fibres segment, Rajeshprabhu shared: “Such initiatives are paving the way for capital expansion. Restrictive mindsets have been freed. People are now looking forward to investing. Those from the spinning sector, more specifically with respect to post-spinning, have started expansion and announcement of new projects. The trends can be seen in the regions of Gujarat, Rajasthan, Kolhapur, etc.”
“New projects are also being announced in the weaving and value-added product segments. In south the business of made-ups is going up. This was not expected earlier. All in all, FY 2022-23 looks set to be a very good year for the textile industry,” he added. Sounding pleased with the footfalls at Texfair 2022, he observed, “The fair was held after a gap and so we were all excitedly looking forward to interact with both existing and potential customers. Our stall received enthusiastic response on all days of the fair.”
Throwing light on the future growth strategies of the company, Rajeshprabhu pointed out, “In the coming years we will be focusing more on automation. We foresee that running of mid-sized mills is becoming a problematic one for single owners. For them to support their economics, we are coming up with new automation systems in the field of spinning and post-spinning. Between 2023 and 2025, we intend bringing out many new products which will add value to the textile value chain. Post the pandemic, new doors to exciting opportunities have opened up and we are looking forward to exploring new horizons such as automation for the enhancement of quality and more research and development for the evolution of new products.”