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History of Lokesh Machines Ltd.

Lokesh Machines Limited was incorporated as a public limited Company on December 17, 1983 & commercial production started from 1986.

The Comp. was promoted by Mr. M Lokeswara Rao, who started this Comp. after gaining significant insights into the nuances of machine & machine tool manufacturing during his stint of over 16 years as a shop-floor executive of HMT Ltd.

Initially commencing business with a modest capital, & doing some job works for HMT Ltd, the Comp. was nurtured carefully by the Promote r to the present stage, achieving a turnover of Rs. 75.32 crores in the year ended 31st March 2005.

Over a period, the Comp. developed a wide range of SPMs, and built up a reputation for quality of its products & after sales service. The Comp. has on date built over 500 Special Purpose Machines for Companies like Ashok Leyland, Bajaj Auto, Bajaj Tempo, TATA MOTORS, Escorts, Mahindra and Mahindra, John Deere, Kinetic Engineering, Hindustan Motors, Honda Motor Cycles & Scooters, Bharat Forge, Rane Engine valves etc.

LML achieved a significant breakthrough by winning a prestigious turnkey order from M/s John Deere, Pune for their green field tractor project for supply of total manufacturing line for cylinder blocks, against stiff competition.

LML has also bagged a prestigious export order from M/s FPT Industrie Spa of Italy, for supply of Milling & Boring machines & successfully supplied over 35 machines & made its presence in the European markets. This order was a stepping-stone for Comp. in fulfilling its strategic initiative of becoming an exporter of machine tool products from India. Recently LML has also supplied about 8 Machines to Honda Motor cycles & scooters, Japan for their Indian requirement. LML had developed machines and supplying to HOWA, Japan under a long term contract & to Italy & the turnover from exports during the year 2004-05 was Rs.598 lacs.

The Comp. also entered the Auto Component Segment by setting up dedicated lines of Machines for manufacture & supply of Cylinder Blocks for Mahindra & Mahindra Limited [M&Ms] for their Tractor, Jeep & Scorpio divisions.

MAJOR EVENTS IN THE HISTORY OF THE COMPANY

Period/Time Particulars

1983-84 � Incorporation of Company � Certificate of Commencement of Business

1988-89 � Entry into auto market Order received from Bajaj Auto. � Comp. achieves landmark of Rs. 1 crore turnover.

1994-95 � Turnover exceeds Rs. 5 crores for first time � Formation of Auto Component Division.

1995-96 � Contract signed with Mahindra and Mahindra for machining Cylinder � Bagged orders from Ashok Leyland & Escorts for SPMs � Investment in the shares of Comp. by Gujarat Venture Finance Ltd.

1996-97 � Crossed landmark of Rs. 10 crore turnover.

1997-98 � Formation of CNC Division.

1998-99 � Formation of countrywide Dealer Network for CNC Division � Turnkey Contract signed with L and T John Deere limited for Total Cylinder Block Semi automatic line supply

1999-2000 � Crossed the landmark of Rs. 20 crores turnover � Bagged & executed the first export order

2000-01 � Signed contract for machining 2nd & 3rd machining line for Mahindra and Mahindra Cylinder Blocks

2002-03 � Best Exporter Award from Dr Sir M Visveswaraaiah Industrial Awards in the year 2001

2003-04 � Japanese Auto major Honda Motors placed order with the Company for supply of CNC Machines to its Indian company. - Tie up with Howa Machine Corporation Japan for manufacture of High Speed Vertical Machining Centre for re-export. - Rs. 50 crore turnover achieved. � Certification for ISO 9001-2000 received for Machine Tool Division & QS -9000 for Auto Components Division

2004-05 � Export of 2 machines to AVM Angelini, Italy � Doubled capacity for supply of cylinder blocks to Mahindra & Mahindra. � Export orders bagged for 25 machines valued at 375,000 Euro

2005-06 � Bagged confirmed export orders for 42 machines valued at 630,000 Euro � Contract finalized with M/s Wenig-Wemas for export of lathes and VMCs to Europe � Recommendation obtained for TS-16949:2002 certification for Quality Management System for machining of Automotive Components.