Lakshmi Automatic Loom Works Limited was incorporated on 12 December, 1973. The Company is manufacturing spares and accessories for C type automatic weaving machines, circular knitting machines and parts for machine tools. It was promoted by G K Devarajulu of the Lakshmi Group of South India.
In Apr.'74, a ten-year technical collaboration was entered into with Ruti Machinery Works, Switzerland, to manufacture high-speed C type automatic looms. Commercial production started in Dec.'77. During 1987-88, it commenced commercial production of air jet weaving machines in collaboration with Sulzer, Switzerland. In the same year, LALW also undertook the manufacture of rapier conversion. The company entered into collaboration with Terrot Stickmaschinen, Germany, to manufacture high-speed circular knitting machines.
In 1994-95, the company developed a prototype high-speed rapier weaving machine with a four-colour selector for which field trials are being carried out. In 1995-96, the company installed CNC machines for the improvement and the better quality of the product.
In future the company has plan for the implementation of ISO 9001 quality system and introduction of total quality management to achieve international acceptance of the products.
Since the peak networth of the company has eroded more than 50%, the company has filled the form with BIFR on 16.11.1998. The company exported 7 Circular Knitting Machines valued at Rs.95.335 lakhs during the year 1999-2000.
The company is planning to implement ISO-9001 Quality system and introduce Total Quality Management (TQM) to achieve international acceptance of their products.It is also planning to introduce new models of Shuttleless Looms and Circular Knitting Machines.
The Knitting Machinery Division was made functional as a 100% EOU from August 2002. On the net worth becoming positive as on 31.03.2010 the Company was discharged from the purview of the BIFR as per its order dated 14-07-2010. The scheme sanctioned by the BIFR was implemented as on 31-03-2013.