Veejay Lakshmi Engineering Works Ltd Detail
As per the Company website it is the largest manufacturer of Two-For-One Twister (TFO) in India with more than 5000 installations worldwide. Veejay Lakshmi is the only manufacturer of Automatic Cone Winders (ACW) in India. Veejay Lakshmi also manufacture Precision Propeller Assembly Winders (PW) and Random Assembly Winders (AW).
The Company has three division as mentioned below
- Textile Machinery division under Veejay Lakshmi Engineering works
- 100% Cotton Yarn under Veejay Lakshmi Textiles
- High pressure die casting under Veejay Lakshmi Die Casting division
It has head office in Coimbatore. The Company is handling all manufacturing, marketing, installation, after sales service and supply of all spare parts relating to Automatic cone winder through its own separate sales and distribution network, Veejay Sales and Services Ltd (VSSL)
I have shared long term price performance chart of the Company below.As per Dow theory of technical analysis price performance over a period of time reflects Company state.
Veejay Lakshmi Engineering Works Ltd Stock Performance
The stock price chart tell two distinctive story. The first one is from year 2002 to 2008. During this period it grew from 18 odd levels to 150 approx levels giving handsome returns to investors in short span of time. The global crisis of year 2008 hurt it back and it started trading below 50.
Since that down fall company seems to have lost its charm and it trades near 50 mark for last 4 years or so. So you can view that stock is in consolidation mode.
Veejay Lakshmi Engineering Works Ltd My Opinion
Veejay Lakshmi Engineering Works Ltd is a Textile Machinery company. It does have other business areas as mentioned in details section but Textile Machinery is the major one. Subramanian P has many textile stocks in his portfolio but this one is only Textile machinery stock.
As mentioned in research of Textile stocks I have clearly mentioned that it is better to invest in Textile machinery stock than Textile ones. There are not many textile machinery stocks listed on Exchanges. This is very niche sector. I am tracking one stock from this sector and may invest in it going forward.
In case you are interested in the sector you can compare the stock and select the one which meets your investment style. I will not track Veejay Lakshmi as I already have one better stock in my watchlist from this sector.
In case you are interested then you can track the company by adding it to your stock watch list. That way you can keep close eye on the Company.