Lakshmi Kavacham is vocalized to generate the blessings of Goddess Mahalakshmi (to beget riches, and fortunes, and to be bestowed with boons as well as to ameliorate adversities, despair, and destitution.

Lakshmi Stuti is a prayer to Goddess Mahalakshmi that brings good fate and luckiness. It is believed that chanting 11 times of this Stuti daily for some months attracts Goddess Mahalakshmi. Mahalakshmi is the Hindu Goddess of wealth, prosperity, and fortune.