Super Sales India is fundamentally a partnership platform - a company built to sell, supply, and service the machinery of textile giant Lakshmi Machine Works (LMW), which then used the cash flows from that relationship to build its own yarn-spinning and industrial-gear factories. Incorporated in Coimbatore in 1981 and run by a management team drawn largely from LMW, the company has no debt and no subsidiaries, operating instead as a single, standalone entity with three distinct engines. The recurring approach is visible across all three: find a durable anchor customer - usually LMW - build a business around it, and then use the stability that anchor provides to serve the open market. # Business segments Five engines at different stages - a hydrocarbon cash cow, two consumer platforms at national scale, and a green-energy bet under construction - each built with the cash flows of the one before. ## 1. Agency Division: the commission engine that started it all **The company earns a fee on every LMW spinning machine sold, plus a separate charge for installing and repairing it - a capital-light business with no inventory risk.** - **Paid on delivery, not on order** - commission is recognised only when LMW delivers the machine to the customer, with billing done monthly; erection and repair fees are billed immediately after the work is finished at the mill. - **The LMW franchise is the moat** - the division acts as the selling agent for textile spinning machinery made by LMW, a related party whose Chairman also chairs Super Sales India, giving it a wide marketing network and a steady stream of orders from mills investing in modernisation. - **Demand follows government capex cycles** - orders come from spinning mills upgrading their equipment, supported by government programmes like PM MITRA parks, PLI incentives, and the push into technical textiles, though a prolonged industry slowdown has recently made customers cautious about new investments. ## 2. Textile Division: the yarn factory that runs on imported cotton **The company spins cotton into yarn for domestic mills and export markets, relying on high-quality imported raw material because local cotton does not meet its quality standards.** - **Imported cotton is the quality differentiator** - the division uses imported cotton to ensure consistency in its yarn, a deliberate choice because locally available cotton was not found fully suitable for the product standards its customers demand. - **A customs-duty cushion** - the government extended customs duty exemption on imported cotton up to December 2025, which helped the division maintain cost competitiveness while domestic cotton prices remained stable. - **Export orders reward reliability** - direct yarn exports grew encouragingly during the year, driven by consistent quality, timely deliveries, and repeat orders from overseas buyers, with total yarn exports reaching about Rs. 65 crore. - **Modernised spinning for thin-margin markets** - the spinning units have been upgraded with compact spinning systems to improve productivity and meet competition in a textile market described as highly volatile, with thin margins and severe price competition. ## 3. Engineering Division: the gear factory with a captive customer **The division makes gears and gearboxes for construction, cement, power, and mining equipment - but its anchor is LMW, which buys gears as an OEM and provides a constant order flow.** - **LMW fills the factory floor** - supplying gears, gearboxes, and accessories to LMW as an original equipment manufacturer ensures optimum capacity utilisation and a steady order book, insulating the division from the full force of market cycles. - **Infrastructure spending drives the rest** - beyond LMW, demand comes from OEMs serving construction, cement, power, and mining, sectors that depend on government infrastructure spending and industrial expansion. - **Customer delays hit revenue timing** - the division’s performance was recently affected by slower market off-take and customers postponing delivery schedules, which pushed revenue recognition into later periods even though operations remained stable. - **A plan to move up the size ladder** - the company intends to establish new facilities for medium and heavy-duty gearboxes and increase custom-built products by 5 percent, aiming to improve turnover through direct marketing and newly developed products. # Group structure and partners **The company is a standalone entity with no subsidiaries, but its DNA is inseparable from Lakshmi Machine Works - its largest customer, supplier, and until recently a 9.77% shareholder.** - **LMW is customer, supplier, and former shareholder** - LMW has historically been the company’s most significant business partner, buying gears, paying agency commissions, and selling raw materials and machinery to Super Sales, all on an arm’s-length basis at competitive market prices. - **Management ties run deep** - the Chairman of Super Sales is a Non-Executive Chairman, while both the Managing Director and the Chief Financial Officer were previously employed at LMW, creating a leadership team steeped in the partner’s operations. - **A five-year transaction agreement is in place** - a material related-party transaction agreement with LMW covering the period from April 2025 to March 2030 governs the purchase and sale of products, materials, goods, services, machinery, and property leases between the two companies. - **LMW exited its shareholding in December 2025** - an off-market inter-se transfer moved LMW’s entire 9.77% stake (3 lakh shares) to four promoter-group entities, leaving the aggregate promoter holding unchanged at 59.43% but removing LMW from the share register. - **Renewable energy investments secure captive power** - the company has taken minority stakes (20-26%) in five wind and solar power companies under the group captive concept, allowing it to source nearly 70% of its energy requirements from renewables and stabilise its operational costs.