The 5-year analysis of Veejay Lakshmi Engineering Works Ltd's performance infers:
We analysed the performance of Veejay Lakshmi Engineering Works Ltd share prices over the last 10 years. Here is what we found out:
Veejay Lakshmi Engineering works Limited was incorporated in the year 1974 as a private Limited company. In the year 1994, public issue was made at a premium Rs 75 per share. The shares have been listed at Mumbai Stock Exchange.
Veejay Lakshmi started its production activites in 1975 in producing Two-for-one Twisters at the engineering unit located in Sengalipalayam, Coimbatore. Veejay Lakshmi is the largest manufacturer of Two-for-one Twister (TFO) in India with more than 4500
Veejay Lakshmi started its production activites in 1975 in producing Two-for-one Twisters at the engineering unit located in Sengalipalayam, Coimbatore. Veejay Lakshmi is the largest manufacturer of Two-for-one Twister (TFO) in India with more than 4500 installations worldwide. Veejay Lakshmi is also the only manufacturer of Automatic Cone Winders (ACW) in India.
To enhance its production facilities second engineering unit was started in the year 1993 at Annur, Coimbatore. Veejay Lakshmi diversified into Yarn spinning by acquiring a textile mill in Udumalpet in the year 1993.
The need to generate and utilize windpower energy for the textile units led to the investment in 4 windmills of 225 KW each used for captive power consumption for the textile mills in 1994. These windmills are now used for Engineering units captive power consumption.
In 1996, Veejay Lakshmi entered into a Joint Venture with Savio Machine Tessili for the manufacture of Automatic cone winders in India. The joint venture agreement has come to an end from December 2004 and Veejay Lakshmi will be manufacturing and marketing Automatic cone winder and all related spareparts and accessories through its own sales and spares distribution network.
Veejay Lakshmi Textiles Limited, a Wholly owned subsidiary of Veejay Lakshmi Engineering works Limited was incorporated in the year 2001. The subsidiary was formed to manage the textile business of the holding company seperately. The transfer of business was done on 30.03.2003.
With the objective of consolidation, modernization, economies of scale and future value addition the textile unit at udumalpet was sold by the end of January 2005. To meet the additional power requirements of the textile mills 3 Windmills of 600KW each have been installed.
Continuing the tradition of commitment in delivering quality products to meet customer requirements, in combination with continuous Research and development for design improvements and cutting edge technology innovation, investments are continuously undertaken in improving the production facilities with the latest advanced technology machines to obtain high productivity, quality and achieve reduction in product costs
The product range of the company is broadly classified into 3 categories.
ISO 9000 in 1990
ISO 9002 in 1994
ISO 9001 in 1995