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61 announcements match the current filters (relevance ≥ 5).
Lloyds Metals Approves Debt Fundraise of Up to ₹3,000 Cr NCDs and $180M USD Notes
Lloyds Metals and Energy's Board approved an enabling resolution to issue Non-Convertible Debentures (NCDs) up to ₹3,000 crore on a private placement basis. In addition, the Board approved raising foreign currency debt via USD-denominated notes of up to $130 million with an upsize option of $50 million (totaling up to $180 million). Concurrently, the company canceled a previously approved NCD issue of ₹600 crore from September 2026, while retaining another ₹950 crore NCD approval. Total proposed fresh debt authorization (₹3,000 cr plus ~$180M / ~₹1,500 cr) represents a sizable ~80% of current debt (₹5,504 cr) to fund ongoing expansion and acquisitions.
Confidence: HIGH
What changedThe Board approved fresh borrowing authorizations totaling up to ₹3,000 crore in domestic NCDs and up to $180 million in overseas notes, while rescinding a prior ₹600 crore NCD plan.
Why it mattersThe company is expanding mining, pellet capacity, and strategic acquisitions, requiring substantial capex; these approvals secure the debt headroom, though leverage will increase from the current D/E of 0.47.
Approved NCD issue limit: Rs. 3,000 CroreUSD Notes base issue: USD 130 millionUSD Notes upsize option: USD 50 millionCancelled NCD issuance: Rs. 600 CroreUnaffected approved NCD issuance: Rs. 950 CroreNCD authorization vs Net Worth: ~25.5%
📅 Short termNeutral market impact since this is an enabling authorization; pricing and coupon terms will determine interest cost impact once issues launch.
📈 Long termEnables aggressive scale-up in iron ore and pellet operations, but will increase leverage and debt servicing obligations over the next few financial years.
⚠ Risk flags
- Increase in financial leverage and interest costs
- Foreign currency and interest rate risk from USD-denominated notes
- Terms (coupon, tenure, security) yet to be finalized
Key Highlights
Approved issuance of NCDs on a private placement basis up to ₹3,000 crore in one or more tranches
Approved raising up to $130 million in USD-denominated notes with an option to upsize by $50 million
Cancelled the planned issuance of NCDs aggregating up to ₹600 crore approved on 21st September, 2026
Retained approval for NCD issuance aggregating up to ₹950 crore approved on 21st September, 2026
👀 What to Watch
Monitor final pricing, coupon rates, tenure, and security creation terms once determined by the Board committee, alongside debt-to-equity trajectory as these funds are drawn down.
H1FY27 Operational Update: Iron Ore Output Up 36% to 10 MT, Pellets Surge 372% to 3.8 MT
Lloyds Metals and Energy released its provisional operational update for H1FY27, reporting strong operational growth across key segments. Iron ore output rose 36% YoY to 10.0 million tonnes, keeping the company on track toward its full-year guidance of 26 MT. Pellet production surged 372% YoY to 3.8 million tonnes following the commissioning of its second 4 MTPA pellet plant (taking total capacity to 8 MTPA at ~100% utilisation). DRI output jumped 104% YoY to 343,064 tonnes with over 90% capacity utilisation, while the company also reported 4,389 tonnes of copper production.
Confidence: HIGH
What changedLloyds Metals has doubled its pellet capacity to 8 MTPA, ramped it to 100% utilisation, and significantly scaled up iron ore and DRI production in H1FY27.
Why it mattersThe rapid scale-up in value-added products (VAP) like pellets and DRI alongside 36% iron ore growth materially improves product mix and logistics efficiencies, sustaining top-line expansion beyond TTM revenue of ₹22,083 Cr.
Iron ore production H1FY27: 10.0 million tonnesPellet production H1FY27: 3.8 million tonnesDRI production H1FY27: 3,43,064 tonnesPellet capacity utilisation: ~100%Iron ore target FY27: 26 MT
📅 Short termPositive volume momentum should support sentiment ahead of Q2 earnings, confirming smooth operational ramp-up of newly commissioned pellet capacity.
📈 Long termTransformation into an integrated, low-cost value-added steel and mining player is progressing rapidly, supported by pipeline logistics, downstream processing (8 MTPA pellets), and long-term copper asset investments.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Commodity price volatility in global iron ore and steel/DRI markets.
- Execution of beneficiation plants to monetize 8.7 MT Banded Hematite Quartzite (BHQ).
Key Highlights
Iron ore production reached a record 10.0 million tonnes in H1FY27, up 36% YoY (excluding 8.7 MT of BHQ).
Pellet production jumped 372% YoY to 3.8 million tonnes with 100% capacity utilisation after commissioning the 2nd 4 MTPA plant.
DRI (sponge iron) output rose 104% YoY to 343,064 tonnes (H1FY26: 167,812 tonnes) at >90% capacity utilisation.
Copper production stood at 4,389 tonnes, including residual output from the Chemaf plant.
Company reiterated its target to produce 26 MT iron ore in FY27 under an expanded EC capacity of 55 MTPA.
👀 What to Watch
Track the upcoming Q2FY27 financial results to assess how the higher volume mix of value-added products (pellets and DRI) impacts net realizations and operating margins.
Lloyds Metals Allotted Shares Worth Rs 606.76 Cr in Subsidiary TEIL, Stake Reaches 71.89%
Lloyds Metals and Energy Limited (LLOYDSME) has been allotted 3.50 crore equity shares of its subsidiary, Thriveni Earthmovers and Infra Private Limited (TEIL), via a rights/further issue. The shares were allotted at Rs 173.36 per share, representing an investment of Rs 606.76 crore. Following this allotment, LLOYDSME holds 73.50 crore shares, or 71.89% of TEIL's paid-up equity capital. The investment represents approximately 2.7% of LLOYDSME's TTM revenue and 5.2% of its net worth.
Confidence: HIGH
What changedLLOYDSME infused Rs 606.76 crore into subsidiary TEIL through a rights/further issue, taking its total shareholding to 71.89%.
Why it mattersIncreases capital support for TEIL's mining infrastructure operations, which are central to LLOYDSME's low-cost MDO and mining integration strategy.
Investment amount: Rs. 6,06,76,00,000Issue price per share: Rs. 173.36Shares allotted: 3,50,00,000Post-issue holding percentage: 71.89%Investment vs TTM Net Worth: ~5.2%
📅 Short termNeutral impact expected on the stock as this represents the execution of an earlier approved capital infusion (dated 10th August 2026).
📈 Long termSolidifies control and financing for key mining contractor operations, supporting volume scale-up towards the planned 26 MT EC iron ore capacity.
⚠ Risk flags
- Capital allocation to subsidiary operations
- Execution risk related to MDO and mining integration
Key Highlights
Allotted 3,50,00,000 equity shares of subsidiary TEIL on 28th September 2026
Subscription price of Rs 173.36 per share, totaling Rs 606.76 crore
Post-allotment holding in TEIL stands at 73,50,00,000 equity shares
Stake in TEIL's issued and paid-up equity share capital is now 71.89%
👀 What to Watch
Track operational and margin synergies in upcoming quarterly results as MDO operations under TEIL continue to integrate with Lloyds Metals' iron ore and mining projects.
Lloyds Metals Approves ₹190 Cr DRI Expansion to >9 Lakh MTPA & ₹1,550 Cr NCD Issuance
Lloyds Metals and Energy's Board approved a debottlenecking expansion of its DRI plants at Ghugus and Konsari, raising total capacity from 7,00,000 MTPA to over 9,07,400 MTPA. The capex entails ₹190 Crore (₹140 Cr for Ghugus, ₹50 Cr for Konsari), funded fully via internal accruals and slated for completion within 1 year. Additionally, the Board approved the issuance of NCDs aggregating up to ₹1,550 Crore on a private placement basis. A minor allotment of 1,41,969 ESOP shares at an exercise price of ₹4 per share was also approved.
Confidence: HIGH
What changedThe Board approved a ₹190 Cr brownfield DRI debottlenecking to lift capacity beyond 9,00,000 MTPA and cleared private placement NCDs up to ₹1,550 Cr.
Why it mattersIncreases captive sponge iron conversion capacity by ~30% with minimal capex (~0.9% of TTM revenue), supporting downstream integration and margins without stretching the balance sheet.
Total DRI capacity addition: 2,07,400 MTPATotal post-expansion capacity: >9,00,000 MTPATotal DRI expansion capex: Rupees 190 CroreCapex vs TTM revenue: ~0.86%NCD issuance approved: Rs. 1,550 CroreCompletion timeline: Within a period of 1 (One) Year
📅 Short termPositive sentiment driven by low-cost debottlenecking financed via internal cash flows, alongside clarity on debt funding plans via NCDs.
📈 Long termStrengthens forward integration from iron ore to DRI, driving sustained operating margins and capturing higher value along the domestic steel-making chain.
⚠ Risk flags
- Execution timeline risks across the 1-year debottlenecking schedule
- Incremental interest burden once the ₹1,550 Cr NCDs are issued
Key Highlights
DRI capacity expanding by 2,07,400 MTPA to cross 9,00,000 MTPA total capacity
Capex of ₹190 Crore (Ghugus: ₹140 Cr, Konsari: ₹50 Cr) funded entirely via internal accruals
Project targeted for completion within 1 year via debottlenecking and process optimization
Approved issuance of private placement NCDs aggregating up to ₹1,550 Crore (₹600 Cr and ₹950 Cr)
Allotted 1,41,969 equity shares under ESOP-2017 scheme at ₹4 per share (including ₹3 premium)
👀 What to Watch
Track the 1-year commissioning timeline for the 2.07 lakh MTPA sponge iron debottlenecking, as well as the terms and deployment plan for the proposed ₹1,550 Cr NCD fundraise.
Lloyds Metals Approves ₹190 Cr DRI Expansion to >9 Lakh MTPA & ₹1,550 Cr NCD Issuance
Lloyds Metals and Energy's Board approved a debottlenecking expansion of its DRI plants at Ghugus and Konsari, raising total capacity from 7,00,000 MTPA to over 9,07,400 MTPA. The capex entails ₹190 Crore (₹140 Cr for Ghugus, ₹50 Cr for Konsari), funded fully via internal accruals and slated for completion within 1 year. Additionally, the Board approved the issuance of NCDs aggregating up to ₹1,550 Crore on a private placement basis. A minor allotment of 1,41,969 ESOP shares at an exercise price of ₹4 per share was also approved.
Confidence: HIGH
What changedThe Board approved a ₹190 Cr brownfield DRI debottlenecking to lift capacity beyond 9,00,000 MTPA and cleared private placement NCDs up to ₹1,550 Cr.
Why it mattersIncreases captive sponge iron conversion capacity by ~30% with minimal capex (~0.9% of TTM revenue), supporting downstream integration and margins without stretching the balance sheet.
Total DRI capacity addition: 2,07,400 MTPATotal post-expansion capacity: >9,00,000 MTPATotal DRI expansion capex: Rupees 190 CroreCapex vs TTM revenue: ~0.86%NCD issuance approved: Rs. 1,550 CroreCompletion timeline: Within a period of 1 (One) Year
📅 Short termPositive sentiment driven by low-cost debottlenecking financed via internal cash flows, alongside clarity on debt funding plans via NCDs.
📈 Long termStrengthens forward integration from iron ore to DRI, driving sustained operating margins and capturing higher value along the domestic steel-making chain.
⚠ Risk flags
- Execution timeline risks across the 1-year debottlenecking schedule
- Incremental interest burden once the ₹1,550 Cr NCDs are issued
Key Highlights
DRI capacity expanding by 2,07,400 MTPA to cross 9,00,000 MTPA total capacity
Capex of ₹190 Crore (Ghugus: ₹140 Cr, Konsari: ₹50 Cr) funded entirely via internal accruals
Project targeted for completion within 1 year via debottlenecking and process optimization
Approved issuance of private placement NCDs aggregating up to ₹1,550 Crore (₹600 Cr and ₹950 Cr)
Allotted 1,41,969 equity shares under ESOP-2017 scheme at ₹4 per share (including ₹3 premium)
👀 What to Watch
Track the 1-year commissioning timeline for the 2.07 lakh MTPA sponge iron debottlenecking, as well as the terms and deployment plan for the proposed ₹1,550 Cr NCD fundraise.
Lloyds Metals Approves ₹190 Cr DRI Expansion to >9 Lakh MTPA & ₹1,550 Cr NCD Issuance
Lloyds Metals and Energy's Board approved a debottlenecking expansion of its DRI plants at Ghugus and Konsari, raising total capacity from 7,00,000 MTPA to over 9,07,400 MTPA. The capex entails ₹190 Crore (₹140 Cr for Ghugus, ₹50 Cr for Konsari), funded fully via internal accruals and slated for completion within 1 year. Additionally, the Board approved the issuance of NCDs aggregating up to ₹1,550 Crore on a private placement basis. A minor allotment of 1,41,969 ESOP shares at an exercise price of ₹4 per share was also approved.
Confidence: HIGH
What changedThe Board approved a ₹190 Cr brownfield DRI debottlenecking to lift capacity beyond 9,00,000 MTPA and cleared private placement NCDs up to ₹1,550 Cr.
Why it mattersIncreases captive sponge iron conversion capacity by ~30% with minimal capex (~0.9% of TTM revenue), supporting downstream integration and margins without stretching the balance sheet.
Total DRI capacity addition: 2,07,400 MTPATotal post-expansion capacity: >9,00,000 MTPATotal DRI expansion capex: Rupees 190 CroreCapex vs TTM revenue: ~0.86%NCD issuance approved: Rs. 1,550 CroreCompletion timeline: Within a period of 1 (One) Year
📅 Short termPositive sentiment driven by low-cost debottlenecking financed via internal cash flows, alongside clarity on debt funding plans via NCDs.
📈 Long termStrengthens forward integration from iron ore to DRI, driving sustained operating margins and capturing higher value along the domestic steel-making chain.
⚠ Risk flags
- Execution timeline risks across the 1-year debottlenecking schedule
- Incremental interest burden once the ₹1,550 Cr NCDs are issued
Key Highlights
DRI capacity expanding by 2,07,400 MTPA to cross 9,00,000 MTPA total capacity
Capex of ₹190 Crore (Ghugus: ₹140 Cr, Konsari: ₹50 Cr) funded entirely via internal accruals
Project targeted for completion within 1 year via debottlenecking and process optimization
Approved issuance of private placement NCDs aggregating up to ₹1,550 Crore (₹600 Cr and ₹950 Cr)
Allotted 1,41,969 equity shares under ESOP-2017 scheme at ₹4 per share (including ₹3 premium)
👀 What to Watch
Track the 1-year commissioning timeline for the 2.07 lakh MTPA sponge iron debottlenecking, as well as the terms and deployment plan for the proposed ₹1,550 Cr NCD fundraise.
Q1 FY27 Concall: Cons. Revenue at ₹7,354 Cr; Standalone EBITDA Margin Hits 39.2%
Lloyds Metals and Energy reported a robust Q1 FY27 performance, with consolidated revenue reaching ₹7,354 crore and standalone revenue rising 127% YoY to ₹5,413 crore. Standalone EBITDA surged 172% YoY to ₹2,120 crore with record EBITDA margins of 39.2% (+639 bps YoY), aided by operational efficiencies from the slurry pipeline and the second pellet plant reaching 100% capacity utilization. Standalone PAT expanded 141% YoY to ₹1,527 crore. Capex deployment remained aggressive with ₹3,005 crore spent in Q1 FY27 alone, bringing standalone net debt to ₹5,616 crore as the company prepares to commission its 1.2 MTPA long product steel plant.
Confidence: HIGH
What changedEarnings conference call transcript filed for Q1 FY27 detailing operating metrics, pellet plant ramp-up, and steel expansion roadmap.
Why it mattersConfirms margin resilience and structural cost reduction driven by captive slurry pipeline logistics and higher contribution from value-added pellets (41% of standalone revenue).
Consolidated Revenue (Q1 FY27): ₹7,354 croreStandalone EBITDA Margin: 39.2%Standalone PAT (Q1 FY27): ₹1,527 crorePellet Production: 1.69 million tonsQ1 FY27 Capex: ₹3,005 croreStandalone Net Debt: ₹5,616 crore
📅 Short termPositive operating momentum and 100% pellet capacity utilization provide strong earnings visibility for upcoming quarters.
📈 Long termFull integration from iron ore mining to slurry transportation, pellets, and upcoming steel manufacturing positions the company as a structural low-cost producer.
⚠ Risk flags
- Heavy ongoing capex cycle with ₹3,005 crore incurred in Q1 FY27, elevating debt levels.
- Exposure to cyclical commodity pricing across steel, pellet, and DRI markets.
Key Highlights
Consolidated revenue tripled YoY to ₹7,354 crore; standalone revenue grew 127% YoY to ₹5,413 crore.
Standalone EBITDA margin reached a record 39.2% (+639 bps YoY), generating ₹2,120 crore in EBITDA.
Pellet production reached 1.69 MT within 4 months of the second plant commissioning, earning ₹5,803 EBITDA per ton.
Iron ore sales rose 58% YoY to 5.46 MT with an EBITDA of ₹2,230 per ton.
Incurred ₹3,005 crore in capex in Q1 FY27, with standalone net debt standing at ₹5,616 crore.
👀 What to Watch
Monitor the operational commissioning date for the 1.2 MTPA steel plant and track quarterly debt levels alongside capex execution.
127% YoY Revenue Growth in Q1 FY27; EBITDA Margins Expand to 39.2%
LLOYDSME reported a robust Q1 FY27 with standalone revenue surging 127% YoY to ₹5,412.9 cr, driven by higher iron ore production and a rapid ramp-up in pellet sales. EBITDA grew 172% YoY to ₹2,120.2 cr, with margins expanding by 639 bps to 39.2% due to lower logistics costs from the slurry pipeline. The company achieved 100% capacity utilization in its first pellet plant within four months and commissioned a second plant in May 2026. Management has guided for 26 MnT iron ore production and ~8 MnT pellet production for FY27, supported by a significant Q1 capex of ₹3,005 cr.
Confidence: HIGH
What changedThe company has successfully transitioned into a value-added player with pellets now contributing significantly to the mix, alongside a massive scale-up in iron ore mining capacity.
Why it mattersThe integration of the slurry pipeline and captive ore has structurally lowered costs, leading to record margins (39%) despite being in a cyclical industry, positioning the company as a low-cost leader.
Q1 FY27 Revenue: ₹5,412.9 crQ1 FY27 EBITDA Margin: 39.2%Q1 FY27 Capex: ₹3,005 crIron Ore Realisation: ₹6,068 per tonneNet Debt: ₹5,616.1 crFY27 Pellet Guidance: 7.75-8 MnT
📅 Short termPositive sentiment is expected due to the sharp margin expansion and the achievement of 100% utilization in the new pellet plant within just four months.
📈 Long termStructural shift towards becoming a low-cost integrated steel producer; the 55 MTPA environmental clearance limit provides a long-term runway for volume growth.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Cyclicality of steel and iron ore prices
- Execution risk of large-scale ongoing capex
- Reliance on international supply chains for certain raw materials
Key Highlights
Standalone Revenue grew 127% YoY to ₹5,412.9 cr in Q1 FY27
EBITDA margins expanded to 39.2%, a 639 bps improvement over Q1 FY26
Iron ore production increased 53% YoY to 6.05 MnT in the quarter
Capex of ₹3,005 cr incurred in Q1 FY27, representing ~17.5% of TTM revenue in a single quarter
FY27 guidance targets 26 MnT iron ore production and 7.75-8 MnT pellet production
👀 What to Watch
Monitor the execution of the second pellet plant and the commissioning of the Steel (WRM) plant scheduled for Q4 FY27. Watch for the impact of the 5.5x increase in ROM handling capacity (to 55 MTPA) on future volumes.
₹625 Cr Investment in TEIL Subsidiary and Renewable Energy Pivot Approved
Lloyds Metals and Energy (LMEL) has approved a ₹625 crore investment in its subsidiary, Thriveni Earthmovers and Infra Private Limited (TEIL), to fund working capital and expansion. TEIL is a major operational driver, reporting a turnover of ₹4,126.07 crore in FY26. The board also approved acquiring a minimum 26% stake in multiple wind and solar projects under the Group Captive Scheme to secure long-term renewable energy. Additionally, the company will convert outstanding loans into equity for its Dubai-based subsidiary, Lloyds Global Resources FZCO, to strengthen its international mining platform.
Confidence: HIGH
What changedThe company has committed significant capital (₹625 Cr) to its mining services subsidiary and formalized its transition to renewable energy through captive power agreements.
Why it mattersTEIL is central to LMEL's MDO (Mine Developer and Operator) strategy; strengthening its balance sheet supports the parent's goal of becoming a low-cost steel producer. The renewable energy pivot helps mitigate power cost volatility and improves ESG standing.
Investment in TEIL: ₹625 crTEIL Investment vs TTM Revenue: ~3.65%TEIL FY26 Turnover: ₹4,126.07 crCurrent Stake in TEIL: 72.0253%Renewable Project Stake: minimum 26%
📅 Short termThe market is likely to react to the Q1 FY27 earnings performance and the growth signal provided by the subsidiary investment. The appointment of a new Independent Director provides board-level continuity.
📈 Long termThe integration of TEIL's mining operations and the move toward 26% captive renewable energy are structural steps to protect the company's high OPM (35.9%) against cyclical commodity pressures.
⚠ Risk flags
- Execution risk in international mining operations via the Dubai subsidiary
- Related party interest in TEIL (though investment is via rights issue)
- Capital allocation efficiency across multiple subsidiaries
Key Highlights
Approved ₹625 crore investment in subsidiary TEIL via rights issue to be completed in FY2026-27.
TEIL reported FY26 turnover of ₹4,126.07 crore, representing a significant scale relative to LMEL's TTM revenue of ₹17,113 crore.
Acquisition of minimum 26% stake in three renewable energy entities (Amplus Green One, Amplus Energy One, and Amplus Ceres) for captive power.
Conversion of existing loans into equity for wholly-owned subsidiary Lloyds Global Resources FZCO (Dubai).
Appointment of Mr. Avijit Ghosh as an Independent Director for a 5-year term starting August 10, 2026.
👀 What to Watch
Investors should monitor the Q1 FY27 financial results (approved in this meeting) for margin trends and track the execution of the ₹625 crore capital infusion into TEIL. The shift to captive renewable energy is a key factor for long-term cost optimization.
₹625 Cr Investment in Subsidiary TEIL and Q1 FY27 Results Approved
Lloyds Metals and Energy Limited (LLOYDSME) has approved a significant investment of up to ₹625 crore in its subsidiary, Thriveni Earthmovers and Infra Private Limited (TEIL), to support working capital and business expansion. The company is also transitioning to sustainable energy by entering into Group Captive schemes for wind and solar power. Additionally, the board approved the conversion of loans into equity for its Dubai-based subsidiary, Lloyds Global Resources FZCO, and appointed Avijit Ghosh as an Independent Director for five years. These moves signal a focus on strengthening the mining services vertical and optimizing energy costs.
Confidence: HIGH
What changedThe company has committed substantial capital to its mining services subsidiary and formalized its shift toward renewable energy for captive consumption.
Why it mattersThe ₹625 crore investment in TEIL (representing ~5.3% of LLOYDSME's net worth) strengthens its core mining and infrastructure capabilities, while the renewable energy shift aims to lower long-term operational costs and improve ESG standing.
Investment in TEIL: ₹625 crTEIL FY26 Turnover: ₹4,126.07 crInvestment vs Net Worth: ~5.3%Investment vs TTM Revenue: ~3.6%Independent Director Term: 5 years
📅 Short termThe stock may see positive sentiment due to the growth-oriented investment in TEIL and the clarity provided by the Q1 FY27 results approval.
📈 Long termThe integration of Thriveni's operations and the move toward low-cost renewable energy are structural positives that support the company's goal of becoming a low-cost metal producer.
⚠ Risk flags
- Related party interest in TEIL (72.02% subsidiary)
- Execution risk in international mineral trading via the Dubai subsidiary
- Regulatory compliance for Group Captive energy schemes
Key Highlights
Approved investment of up to ₹625 crore in subsidiary TEIL via rights issue to fund expansion and working capital.
TEIL reported a turnover of ₹4,126.07 crore for FY26, representing a 31% growth over FY25's ₹3,140.60 crore.
Entered into Wind and Solar Power Purchase Agreements (PPAs) for a minimum 26% stake under the Group Captive Scheme.
Approved conversion of outstanding loans into equity for wholly-owned subsidiary Lloyds Global Resources FZCO in Dubai.
Appointed Avijit Ghosh as an Independent Director for a 5-year term effective August 10, 2026.
👀 What to Watch
Investors should review the detailed Q1 FY27 financial results (once fully analyzed) and monitor the execution of the ₹625 crore capital infusion into TEIL, which is a key driver for the company's mining operations.
Rs 700 Cr Allotment of 9.02% Senior Secured NCDs with 10-Year Tenor
Lloyds Metals and Energy Limited has successfully allotted 70,000 Senior, Secured, Non-Convertible Debentures (NCDs) aggregating to Rs 700 crore. The NCDs carry a fixed coupon of 9.02% per annum and have a long-term maturity of 10 years, with principal repayment starting only from the 7th year (2033). This fundraise represents approximately 12.7% of the company's existing debt of Rs 5,504 crore and is rated AA/Stable by CRISIL and India Ratings.
Confidence: HIGH
What changedThe company has finalized a Rs 700 crore long-term debt fundraise through a private placement of NCDs.
Why it mattersThis provides the company with stable, long-term capital at a fixed interest rate, supporting its capital-intensive mining and steel expansion projects while maintaining a manageable debt-to-equity ratio (currently 0.47).
Issue Size: Rs 700 CrCoupon Rate: 9.02%Tenor: 10 yearsFundraise vs TTM Revenue: ~4.1%Fundraise vs Net Worth: ~5.9%
📅 Short termThe announcement is unlikely to cause significant price movement as it is a planned debt issuance and represents a small fraction of the company's market capitalization.
📈 Long termThe 10-year debt profile is structurally positive as it aligns repayment with the long-term cash flow generation of mining assets, though it increases the annual interest obligation.
⚠ Risk flags
- Increased interest expense
- Hypothecation of key manufacturing assets (Grinding Unit and DRI plant)
Key Highlights
Total issue size of Rs 700 crore comprising 70,000 NCDs with a face value of Rs 1,00,000 each.
Fixed coupon rate of 9.02% per annum with interest payable annually starting August 2027.
Long-term tenor of 10 years with the final maturity date set for August 06, 2036.
Principal repayment is structured in four annual installments from 2033 to 2036.
Secured by an exclusive first charge on the Hedri Grinding Unit and Konsari DRI/Power plants with a 1.25x security cover.
👀 What to Watch
Investors should monitor the deployment of these funds toward the company's stated goal of reaching 26 million ton iron ore capacity and its transition into a low-cost steel producer.
53% YoY Iron Ore Growth: Lloyds Metals Reports Record Q1FY27 Production
Lloyds Metals and Energy Limited (LLOYDSME) reported a strong start to FY27 with iron ore production reaching 6.05 million tonnes, a 53% increase YoY. The company is scaling towards a 26 MT iron ore target for FY27, supported by its 55 MTPA environmental clearance. Downstream segments showed significant growth, with DRI production up 131% to 182,460 tonnes and pellet production reaching 1.69 million tonnes following the ramp-up of its 8 MTPA total capacity. Additionally, the company recorded 2,754 tonnes of copper production, marking its successful entry into base metals.
Confidence: HIGH
What changedThe company has successfully transitioned to a higher production scale across iron ore, DRI, and pellets, while operationalizing its new copper mining vertical.
Why it mattersThe massive volume growth (53% in iron ore and 131% in DRI) indicates the company is successfully executing its strategy to become a low-cost, integrated metal producer, significantly increasing its revenue potential beyond merchant mining.
Iron Ore Q1 Production: 6.05 Mn TonnesDRI Production Growth: 131% YoYTotal Pellet Capacity: 8 MTPACopper Production: 2,754 TonnesFY27 Iron Ore Target: 26 MT
📅 Short termThe record production volumes across all segments are likely to drive strong revenue growth in the Q1FY27 earnings, potentially supporting the stock's recent momentum.
📈 Long termThe company's 55 MTPA environmental clearance and expansion into copper provide a multi-year growth runway, shifting the business model towards a diversified, large-scale metals player.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Logistics bottlenecks for high-volume dispatches
- Volatility in global iron ore and copper prices
- Execution risk in commissioning beneficiation plants
Key Highlights
Iron ore production increased 53% YoY to 6.05 million tonnes in Q1FY27.
DRI production surged 131% YoY to 182,460 tonnes as two new kilns were fully commissioned.
Pellet production reached 1.69 million tonnes following the commissioning of a second 4 MTPA plant, totaling 8 MTPA capacity.
Copper production stood at 2,754 tonnes, reflecting the first full quarter of output from Surya mines and DRC assets.
Targeting 26 million tonnes of iron ore production for the full year FY27.
👀 What to Watch
Watch for the commissioning of beneficiation plants to process the 5.9 million tonnes of BHQ (Banded Hematite Quartzite) and the margin impact of the newly integrated copper segment in the upcoming Q1FY27 financial results.
Lloyds Metals Shareholders Approve Dividend and MD Appointment at 49th AGM
Lloyds Metals and Energy Limited successfully concluded its 49th Annual General Meeting on June 19, 2026, with all eight resolutions passed by the requisite majority. Shareholders approved the audited financial statements and the dividend for FY 2025-26. Key leadership appointments were confirmed, including Mr. Balasubramanian Prabhakaran as Managing Director and Mr. Venkateswaran Soundrarajan as Executive Director. Approximately 77.72% of the total 562.78 million shares were voted during the e-voting process.
Key Highlights
Dividend for FY 2025-26 approved with 100% of the 437.4 million votes cast in favor.
Mr. Balasubramanian Prabhakaran appointed as Managing Director with 99.47% shareholder approval.
Total voter turnout represented 77.72% of the company's outstanding share capital.
Special resolutions passed for the reappointment of Independent Directors Ramesh Luharuka and Dr. Seema Saini.
Alteration of Articles of Association to delete the Common Seal clause was approved by 100% of voting members.
👀 What to Watch
Investors should take note of the confirmed dividend payout and the continuity of the current management team. The high approval ratings for all resolutions indicate strong shareholder confidence in the board's direction.
Lloyds Metals AGM: Revenue Surges 100% to ₹13,837 Cr; 100% Dividend Recommended
Lloyds Metals and Energy Limited reported a landmark FY 2025-26 during its 49th AGM, with revenue doubling to ₹13,837.8 crore and EBITDA reaching ₹6,333.9 crore at a 36.6% margin. The company recommended a 100% dividend and highlighted its strategic expansion into copper mining and the development of a 1.2 million tonne steel plant. Shareholders also voted on key resolutions including director appointments, increased borrowing limits, and several material related party transactions.
Key Highlights
Revenue grew over 100% year-on-year to reach ₹13,837.8 crore for FY 2025-26.
Achieved EBITDA of ₹6,333.9 crore with a robust margin of 36.60%.
Iron ore production reached 21.96 million tonnes and pellet production stood at 3.03 million tonnes.
Board recommended a 100% dividend per share for the financial year ended March 31, 2026.
Strategic diversification into copper via Surya Mines and acquisition of a stake in Chemaf Group (DRC).
👀 What to Watch
Investors should monitor the company's transition into a multi-metal player and the execution of the Ghugus steel plant, given the strong cash flows from current iron ore operations.
Lloyds Metals FY26 PAT Surges 120% to ₹3,194 Cr; Revenue Crosses ₹17,000 Cr Milestone
Lloyds Metals and Energy reported a stellar FY26 performance with consolidated revenue crossing ₹17,000 crore and standalone PAT rising 120% YoY to ₹3,194 crore. The company achieved a massive 120% growth in iron ore production, reaching 22 million tons, and successfully ramped up its first pellet plant to 100% capacity. With a ₹13,500 crore capex program underway, the company is transitioning into a diversified player with new entries into steel wire rods and international copper mining in Congo. Management has guided for further volume growth in FY27, targeting 26 million tons of iron ore and 8 million tons of pellet production.
Key Highlights
Consolidated revenue reached ₹17,000 crore with a 5-year revenue CAGR of 109% and PAT CAGR of 139%.
Iron ore production scaled to 22 million tons in FY26, a 120% YoY increase, with FY27 guidance set at 26 million tons.
EBITDA margins remained robust and structural at 33.77%, supported by a 56% ROCE (ex-CWIP) and 37% ROE.
Commissioned 8 million ton total pellet capacity and an 85km slurry pipeline, expected to drive ₹2,000 crore in annual cost savings by March 2028.
Strategic international expansion into copper via a 49% stake in CHEMAF (Congo), targeting 100,000 tons of copper production in 3-5 years.
👀 What to Watch
Investors should maintain a positive outlook as the company successfully transitions from a pure miner to a value-added steel and copper player with industry-leading margins. The stock remains a strong growth play given the aggressive FY27 production targets and significant logistics-led cost reductions.
Lloyds Metals Allots ₹750 Crore NCDs at 8% Coupon Rate
Lloyds Metals and Energy Limited has successfully allotted 75,000 unsecured, senior, non-convertible debentures (NCDs) on a private placement basis. The total fundraise amounts to ₹750 crores with a face value of ₹1,00,000 per NCD. These debentures carry a coupon rate of 8% per annum, payable semi-annually, and have a tenor of 6 years maturing in May 2032. The issue received strong credit ratings of 'AA/Stable' from both India Ratings and CRISIL, indicating a high degree of safety.
Key Highlights
Allotment of 75,000 NCDs aggregating to ₹750 crores via private placement
Fixed coupon rate of 8% per annum with half-yearly interest payments
Long-term tenor of 6 years with final maturity scheduled for May 7, 2032
Strong credit ratings of 'AA/Stable' assigned by both CRISIL and India Ratings
The issue was fully subscribed by investors on the NSE Electronic Book Provider platform
👀 What to Watch
The successful fundraise at a competitive 8% rate and high credit rating reflects strong institutional confidence in the company. Investors should monitor the deployment of these funds toward growth-oriented capital expenditure.
Lloyds Metals to Raise Rs 3,200 Cr via NCDs, Declares 100% Dividend & PNG Mining Expansion
Lloyds Metals and Energy Limited (LLOYDSME) has announced a significant expansion and fundraising plan following its FY26 board meeting. The company declared a 100% final dividend of Re. 1 per share and approved the issuance of Non-Convertible Debentures (NCDs) totaling up to Rs 3,200 crore across two separate approvals. Furthermore, the company is venturing into international mining by acquiring an equity stake in a Papua New Guinea entity to target the Panguna Mine project. These developments signal aggressive growth and a commitment to rewarding shareholders.
Key Highlights
Declared a final dividend of 100% (Re. 1 per equity share) for the financial year 2025-26.
Approved issuance of Non-Convertible Debentures (NCDs) worth Rs 700 crore on a private placement basis.
Granted enabling approval for additional NCD issuance up to Rs 2,500 crore in one or more tranches.
Wholly owned subsidiary to acquire equity in Lloyds Panguna Metals and Energy Limited in Papua New Guinea for mining cooperation.
Re-appointed Mr. Ramesh Luharuka and Ms. Seema Saini as Independent Directors for a second five-year term.
👀 What to Watch
Investors should monitor the utilization of the Rs 3,200 crore fundraise and the progress of the Papua New Guinea mining venture as these are major growth drivers. The 100% dividend provides a positive yield signal, but the long-term impact will depend on the successful execution of the international expansion.
Lloyds Metals FY26 Revenue Doubles to ₹1.38 Lakh Cr; PAT Surges 120% YoY
Lloyds Metals and Energy Limited (LMEL) reported a stellar FY26 performance with standalone revenue growing 104% YoY to ₹1,38,378 million and PAT rising 120% to ₹31,943 million. The growth was fueled by a 120% increase in iron ore production (21.96 MnT) and a rapid ramp-up of the pellet plant which reached 100% utilization in four months. EBITDA margins expanded significantly to 33.77%, driven by operating leverage and a richer product mix. Additionally, the company successfully commenced copper cathode production in the DRC, marking its entry into the global copper value chain.
Key Highlights
Standalone FY26 Revenue grew 104% YoY to ₹1,38,378 million; Q4FY26 Revenue surged 310% YoY.
FY26 EBITDA increased 133% YoY to ₹46,731 million with margins expanding 418 bps to 33.77%.
Iron ore production reached 21.96 MnT in FY26, with FY27 guidance set at 26 MnT.
Incurred significant capex of ₹1,35,130 million during FY24-FY26 to expand manufacturing and mining assets.
Commenced commercial production of copper cathodes from 12,000 TPA plant in DRC in March 2026.
👀 What to Watch
The stock remains a strong growth play given the massive volume expansion in iron ore and successful vertical integration into pellets and copper. Investors should monitor the execution of the FY27 production guidance and the scaling of international copper operations.
Lloyds Metals Declares Re. 1 Dividend and Approves Rs. 3,200 Cr Fundraising for Expansion
Lloyds Metals and Energy Limited has recommended a final dividend of Re. 1 per share for the financial year ended March 31, 2026. The Board approved a significant fundraising plan via Non-Convertible Debentures (NCDs) totaling up to Rs. 3,200 crore to support its growth initiatives. Furthermore, the company is expanding its global footprint by acquiring a stake in a Papua New Guinea entity to pursue mining opportunities at the Panguna Mine. This combination of shareholder rewards and aggressive expansion plans signals a high-growth phase for the company.
Key Highlights
Final dividend of Re. 1 per share (100% of face value) recommended for FY 2025-26.
Approved NCD issuance of Rs. 700 crore and an additional enabling limit of Rs. 2,500 crore.
Acquisition of equity in Lloyds Panguna Metals and Energy Limited in Papua New Guinea for mining projects.
Audited financial results for FY26 approved with an unmodified auditor's opinion.
👀 What to Watch
Monitor the execution of the Papua New Guinea mining agreement and the impact of the large debt issuance on the company's balance sheet. The stock remains a growth play with a focus on international expansion.
Lloyds Metals: 100% Dividend, Rs 3,200 Cr NCD Fundraise & Papua New Guinea Expansion
Lloyds Metals and Energy has approved its FY26 audited results and declared a final dividend of Re. 1 per share (100% of face value). The company is aggressively pursuing growth, approving a total NCD fundraise of up to Rs 3,200 crore across two separate authorizations. Additionally, it is expanding into Papua New Guinea through a new step-down subsidiary to engage in mining activities at the Panguna Mine. These moves indicate a significant shift towards international operations and large-scale capital deployment.
Key Highlights
Declared a final dividend of 100% (Re. 1 per share) for the financial year 2025-26.
Approved NCD issuance of up to Rs 700 crore under previously authorized limits.
Granted new enabling approval for additional NCD issuance up to Rs 2,500 crore in one or more tranches.
Expanding into Papua New Guinea via a step-down subsidiary to pursue mining agreements for the Panguna Mine.
Re-appointed two Independent Directors for second five-year terms starting in late 2026 and early 2027.
👀 What to Watch
Investors should monitor the progress of the Papua New Guinea mining agreement as it represents a significant international foray. The massive Rs 3,200 crore fundraising plan suggests major upcoming capital expenditure that could drive long-term growth.
