LLOYDSENT - Lloyds Enterpris
π’ Recent Corporate Announcements
Lloyds Enterprises Limited has divested a 0.41% stake in its material subsidiary, Lloyds Engineering Works Limited (LEWL), through a block deal. The company sold 60,34,299 shares at a price of Rs. 49.65 per share, generating a total consideration of approximately Rs. 29.96 crore. The buyer is Thriveni Earthmovers Private Limited, an independent entity, and the transaction is not a related party deal. This minor divestment provides the company with immediate cash liquidity.
- Sold 60,34,299 equity shares of material subsidiary LEWL via block deal
- Transaction price of Rs. 49.65 per share for a total of Rs. 29.96 crore
- The stake represents 0.41% of the total equity share capital of LEWL
- Buyer is Thriveni Earthmovers Private Limited, an investment arm of Mr. Balasubramanian Prabhakaran
- LEWL contributed 3.96% to the company's turnover and 4.64% to net worth in the last FY
Lloyds Enterprises reported a stellar 9MFY26 performance with consolidated PAT growing 252.6% YoY to βΉ348.44 crore, driven by strong growth in its engineering and real estate subsidiaries. The company is undergoing a major corporate restructuring to demerge its real estate business into a separate listed entity, Lloyds Realty Limited, to unlock value and improve transparency. Its engineering subsidiary, LEWL, boasts a robust order book of over βΉ6,645 crore, while its real estate arm has signed MoUs for land with a revenue potential exceeding βΉ5,000 crore. Additionally, its strategic investment in the Jonnagiri gold mine is nearing commercial production with a target of 1,000 kg of refined gold annually.
- Consolidated Total Income for 9MFY26 rose 33.4% YoY to βΉ1,393.28 crore
- Consolidated PAT witnessed a massive jump of 252.6% YoY, reaching βΉ348.44 crore
- Engineering subsidiary LEWL maintains a strong order book exceeding βΉ6,645 crore
- Real estate segment has secured over 270 acres in MMR with a revenue potential of βΉ5,000+ crore
- Strategic investment in India's first private gold mine (GMSI) targets 1,000 kg annual gold production
Lloyds Enterprises reported a standalone net loss of βΉ4.68 crore for Q3 FY26, a decline from the profit of βΉ30.05 crore in the preceding quarter, despite a year-on-year revenue increase to βΉ48.76 crore. The Board has approved a significant fundraise of up to βΉ500 crore through Non-Convertible Debentures (NCDs) via private placement. Additionally, the company has secured loans totaling βΉ361 crore from Tata Capital, Bajaj Finance, and Jio Credit to fund the acquisition of share warrants in Lloyds Metals and Energy Limited. The company also divested a portion of its stake in Lloyds Engineering Works via a block deal on February 9, 2026.
- Reported Q3 FY26 standalone revenue of βΉ48.76 crore and a net loss of βΉ4.68 crore.
- Board approved raising up to βΉ500 crore through the issuance of Non-Convertible Debentures (NCDs).
- 9M FY26 net profit stands at βΉ246.64 crore, heavily supported by βΉ301.94 crore in other income.
- Secured βΉ361 crore in financial assistance from Tata Capital, Bajaj Finance, and Jio Credit.
- Sold 60.34 lakh shares of subsidiary Lloyds Engineering Works Limited at βΉ49.65 per share via block deal.
Lloyds Enterprises reported a standalone net loss of βΉ4.68 crore for Q3 FY26, a significant drop from the βΉ30.05 crore profit in the preceding quarter. Despite the quarterly loss, the company has approved a major fundraise of up to βΉ500 crore via Non-Convertible Debentures (NCDs). Strategically, the company secured βΉ361 crore in loans from lenders like Tata Capital and Bajaj Finance to fund warrant conversions in Lloyds Metals and Energy Limited. Additionally, the company executed a stake sale in its subsidiary, Lloyds Engineering Works, via a block deal on February 9, 2026.
- Standalone Revenue for Q3 FY26 stood at βΉ48.76 crore, up 108% YoY but down 46% QoQ.
- Reported a Net Loss of βΉ4.68 crore in Q3 FY26 compared to a profit of βΉ30.05 crore in Q2 FY26.
- Board approved raising up to βΉ500 crore through Non-Convertible Debentures (NCDs) in one or more tranches.
- Secured βΉ361 crore in financial assistance from Tata Capital, Bajaj Finance, and Jio Credit for investment in Lloyds Metals warrants.
- Sold 60.34 lakh shares of subsidiary Lloyds Engineering Works at βΉ49.65 per share via a block deal.
Lloyds Enterprises reported a standalone net loss of βΉ4.68 crore for Q3 FY26, a sharp reversal from a profit of βΉ30.05 crore in the preceding quarter. Revenue from operations saw a significant sequential decline of 46.6%, falling to βΉ48.76 crore. To bolster its capital position, the board has approved a fundraise of up to βΉ500 crore through Non-Convertible Debentures (NCDs). The company also disclosed a block deal sale of 60.34 lakh shares in its subsidiary, Lloyds Engineering Works, and secured βΉ361 crore in loans for warrant conversions in Lloyds Metals and Energy.
- Standalone revenue from operations fell to βΉ48.76 crore in Q3 FY26 from βΉ91.42 crore in Q2 FY26.
- Reported a standalone net loss of βΉ4.68 crore for the quarter ended December 31, 2025.
- Board approved a private placement of Non-Convertible Debentures (NCDs) for an amount up to βΉ500 crore.
- Secured βΉ361 crore in financial assistance from Tata Capital, Bajaj Finance, and Jio Credit for warrant payments.
- Sold 60,34,299 shares of subsidiary Lloyds Engineering Works Limited via a block deal on February 9, 2026.
Lloyds Enterprises reported a standalone revenue of βΉ48.76 crore for Q3 FY26, a significant increase from βΉ23.38 crore in the same quarter last year, though it posted a net loss of βΉ4.68 crore. The board has approved a major fundraise of up to βΉ500 crore through Non-Convertible Debentures (NCDs) to support its financial requirements. Additionally, the company has secured loans totaling βΉ361 crore from major lenders like Tata Capital and Bajaj Finance to fund warrants in Lloyds Metals and Energy Limited. Significant corporate restructuring is also underway, including a composite scheme of arrangement for mergers and demergers.
- Standalone revenue for Q3 FY26 grew to βΉ48.76 crore from βΉ23.38 crore YoY.
- Board approved a fundraise of up to βΉ500 crore via private placement of Non-Convertible Debentures (NCDs).
- Company secured βΉ361 crore in loans from Tata Capital, Bajaj Finance, and Jio Credit to fund share warrants.
- 9-month net profit stands at βΉ246.64 crore, largely driven by βΉ301.94 crore in other income.
- Ongoing corporate restructuring involves the merger of two entities and the demerger of the Real Estate business.
Lloyds Enterprises has announced the successful passage of several key resolutions via postal ballot, including material related party transactions (RPT) with three separate entities. While the resolutions passed with requisite majorities, there was significant dissent from public institutional investors, who voted over 91% against the RPT proposals. Shareholders also approved a special resolution to advance loans and provide guarantees under Section 185 of the Companies Act. Additionally, the company received a 99.89% favorable vote to adopt a new set of Articles of Association.
- Approved material RPTs with Crosslink Food and Farms, Geomysore Services, and Prakar Estates and Promoters LLP.
- Public institutional investors voted 91.13% against the material related party transactions.
- Special resolution for advancing loans or providing guarantees under Section 185 passed with 96.07% favor.
- Adoption of a new set of Articles of Association approved with 99.89% majority support.
- Promoter and promoter group abstained from voting on RPT resolutions as interested parties.
Lloyds Enterprises Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Bigshare Services Private Limited, confirms that all dematerialization requests for the quarter ended December 31, 2025, were processed within the mandated 15-day timeframe. It further verifies that physical certificates were mutilated and cancelled after the depository's name was updated in the register of members. This is a standard regulatory filing ensuring the integrity of the company's shareholding records.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- Dematerialization requests were processed and confirmed within 15 days of receipt.
- Bigshare Services Private Limited confirmed the mutilation and cancellation of physical certificates.
- The filing confirms that securities are listed on the stock exchanges where earlier securities were listed.
Lloyds Enterprises Limited has announced the first and final call for its 25,44,25,324 partly paid-up equity shares. The company has fixed January 16, 2026, as the record date to identify eligible shareholders for the call notice. Shareholders are required to pay βΉ19.50 per share (βΉ0.50 towards face value and βΉ19.00 towards premium) between February 2 and February 16, 2026. Trading in the partly paid-up shares (ISIN: IN9080I01015) will be suspended from the record date onwards.
- First and Final Call amount fixed at βΉ19.50 per equity share
- Record date for determining eligible holders is Friday, January 16, 2026
- Call money payment window opens on February 2 and closes on February 16, 2026
- Total of 25,44,25,324 partly paid-up shares are subject to this final call
- Trading of partly paid shares will be suspended effective January 16, 2026
Lloyds Enterprises Limited has approved the first and final call for its 25,44,25,324 partly paid-up equity shares. Shareholders are required to pay βΉ19.50 per share, which includes βΉ0.50 towards face value and βΉ19.00 towards premium. The record date to determine eligibility is January 16, 2026, and the payment window is set from February 2 to February 16, 2026. Trading of the partly paid-up shares will be suspended effective January 16, 2026, until the shares become fully paid-up.
- First and Final call of βΉ19.50 per share on 25,44,25,324 partly paid-up equity shares
- Record date for determining eligible shareholders is Friday, January 16, 2026
- Call money payment period opens on February 2, 2026, and closes on February 16, 2026
- Trading suspension for partly paid-up shares (ISIN: IN9080I01015) begins January 16, 2026
- Call amount comprises βΉ0.50 towards paid-up value and βΉ19.00 towards premium
Lloyds Engineering Works Limited (LEWL), a material subsidiary of Lloyds Enterprises, is merging three group entitiesβLloyds Infra, Metalfab, and Techno Industriesβto create a unified engineering and infrastructure powerhouse. The combined entity boasts a massive order book of approximately βΉ6,150 crore as of H1FY26 and a pro-forma half-year PAT of βΉ161 crore. This strategic move vertically integrates design, manufacturing, and execution capabilities, allowing the company to bid for larger, multi-disciplinary contracts. The merger involves an equity expansion of approximately 38.1 crore shares, bringing the total equity base to 185.52 crore shares.
- Merger of LICL, Metalfab, and Techno Industries into LEWL to create a 'Design-to-Execution' provider.
- Combined H1FY26 financials show Total Income of βΉ1,484.3 Cr and EBITDA of βΉ242.1 Cr.
- Order book stands at ~βΉ6,150 Cr, including a landmark βΉ613 Cr + β¬18 Mn consortium deal with SAIL.
- Swap ratios: 1,798 LEWL shares for 1,500 LICL shares and 94 LEWL shares for 5 Metalfab shares.
- Post-merger equity base to expand to 185.52 crore shares with promoter group holding 21.03%.
Lloyds Enterprises has approved a major consolidation where three group entitiesβLloyds Infrastructure & Construction (LICL), Metalfab Hightech (MHPL), and Techno Industries (TIPL)βwill merge into Lloyds Engineering Works (LEWL). The merger is strategically designed to leverage LICL's massive order book of over βΉ4,500 crore and create a unified engineering and infrastructure powerhouse. As of September 2025, the combined entities represent a significant scale-up, with LICL alone reporting a turnover of βΉ911.23 crore. The share exchange ratio for LICL is fixed at 1,798 LEWL shares for every 1,500 LICL shares.
- Merger of LICL, MHPL, and TIPL into Lloyds Engineering Works Limited (LEWL) approved by the Board.
- LICL brings a robust order book exceeding βΉ4,500 crore and a half-year turnover of βΉ911.23 crore.
- LEWL's standalone net worth stands at βΉ1,154.34 crore with total assets of βΉ1,571.03 crore as of Sept 2025.
- Share swap ratio for LICL shareholders set at 1,798 equity shares of LEWL for every 1,500 shares held.
- Consolidation aims for cost synergies, operational efficiency, and enhanced bidding capacity for large-scale contracts.
Lloyds Enterprises Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is a standard procedure ahead of the board meeting to consider the unaudited standalone and consolidated financial results for the quarter ending December 31, 2025. The window will remain closed for all directors, promoters, and designated persons until 48 hours after the results are officially declared. The specific date for the board meeting will be communicated separately in due course.
- Trading window closure begins on Thursday, January 1, 2026.
- Closure is for the purpose of considering Q3 FY2025-26 financial results.
- Restriction applies to Directors, Promoters, Designated Persons, and their immediate relatives.
- Window will reopen 48 hours after the board meeting concludes and results are disclosed.
- Board meeting date for the financial results is yet to be announced.
Lloyds Engineering Works Limited (LEWL), a material subsidiary of Lloyds Enterprises, is acquiring the remaining 12% stake in Techno Industries Private Limited (TIPL) for Rs 22.70 Crore. This transaction will make TIPL a 100% wholly-owned subsidiary of LEWL and a step-down subsidiary of the listed entity. TIPL is a revenue-generating entity with a turnover of Rs 155.04 Crore in FY25, specializing in electrical engineering products. The acquisition is strategic, aimed at expanding the group's product portfolio into pumps, motors, and elevators.
- Acquisition of 14,99,999 equity shares representing the remaining 12% stake in TIPL for Rs 22.70 Crore.
- TIPL becomes a 100% wholly-owned subsidiary of LEWL and a step-down subsidiary of Lloyds Enterprises.
- TIPL reported a turnover of Rs 15,504.40 lakhs (approx Rs 155 Cr) for FY 2024-25.
- Strategic expansion into electrical engineering products including pumps, motors, and elevators.
- The acquisition is expected to be completed within a period of one month.
Lloyds Engineering Works Limited (LEWL), a material subsidiary of Lloyds Enterprises, is acquiring the remaining 12% stake in Techno Industries Private Limited (TIPL) for a cash consideration of Rs 22.70 crore. This acquisition of 14,99,999 shares will make TIPL a wholly-owned subsidiary of LEWL and a step-down subsidiary of the company. TIPL is a revenue-generating entity with a turnover of Rs 155.04 crore in FY 2024-25, specializing in pumps, motors, and elevators. The move is strategic, aimed at expanding the group's electrical engineering product portfolio and consolidating ownership.
- Acquisition of 12% stake in TIPL for a cash consideration of Rs 22.70 crore
- TIPL's turnover stood at Rs 155.04 crore for FY25 and Rs 167.56 crore for FY24
- TIPL will become a 100% wholly-owned subsidiary of LEWL within one month
- Strategic entry into manufacturing and marketing of pumps, motors, and elevators
- Transaction is conducted at arm's length as a related party transaction
Financial Performance
Revenue Growth by Segment
Consolidated income grew 44% YoY to INR 1,060 Cr in H1FY26, while Standalone income grew 36% YoY to INR 490 Cr. Trading activities remained stable, but strategic portfolio monetization significantly boosted standalone performance.
Geographic Revenue Split
Real estate operations are focused on the Mumbai Metropolitan Region (MMR); trading activities serve both domestic and export markets.
Profitability Margins
Standalone PAT margin reached 51.2% in H1FY26 (INR 251 Cr PAT on INR 490 Cr income), while Consolidated PAT margin improved to 29.3% (INR 311 Cr PAT on INR 1,060 Cr income) from 7.7% in H1FY25.
EBITDA Margin
Consolidated PAT grew 441% YoY in H1FY26, reflecting significant core profitability improvement from 7.7% to 29.3% net margin.
Capital Expenditure
Proposed related party transactions of up to INR 1,000 Cr are planned for operational and investment requirements; annual consolidated turnover for FY25 was INR 1,488.28 Cr.
Credit Rating & Borrowing
The company maintains a low Debt-to-Equity ratio of 0.05 and a Debt Service Coverage Ratio of 2.02; borrowing costs are at prevailing market rates.
Operational Drivers
Raw Materials
Iron ore pellets (raw material for steel) and steel and allied products (trading portfolio).
Import Sources
Domestic and export markets (specific countries not disclosed).
Key Suppliers
Lloyds Metals & Energy Ltd (LMEL) for iron-ore and steel franchise exposure.
Capacity Expansion
Incorporation of Lloyds Advance Defence Systems Limited on December 11, 2025, to enter the defense sector.
Raw Material Costs
Not explicitly disclosed as a percentage of revenue, but trading activities remained stable while strategic portfolio monetization drove high PAT growth.
Manufacturing Efficiency
LEWL reported highest-ever performance; consolidated income increased 44% YoY in H1FY26.
Strategic Growth
Expected Growth Rate
44%
Growth Strategy
Achieved through strategic portfolio monetization (1634% standalone PAT growth), expansion into defense engineering via the new subsidiary Lloyds Advance Defence Systems Limited, and scaling real estate projects in the MMR region.
Products & Services
Steel products, iron ore pellets, engineering solutions for steel/power/hydrocarbons/defense, real estate developments in MMR, and gold exploration services.
Brand Portfolio
Lloyds Engineering Works Limited (LEWL), Lloyds Realty Developers Limited (LRDL), Lloyds Metals & Energy Ltd (LMEL), Geomysore.
New Products/Services
Defense systems (Lloyds Advance Defence Systems Limited) and gold exploration (Geomysore).
Market Expansion
Entry into the defense sector (Dec 2025) and continued focus on the MMR real estate market.
Strategic Alliances
Holding company for LEWL and LRDL; strategic investments in LMEL and Geomysore.
External Factors
Industry Trends
Engineering sector growing at 44% YoY; defense sector emerging as a key vertical; real estate focus on MMR.
Competitive Landscape
Diversified across engineering, realty, and trading; LEWL performing at record levels.
Competitive Moat
Integrated group structure providing exposure to the entire steel value chain (LMEL) and engineering solutions (LEWL).
Macro Economic Sensitivity
Sensitive to steel industry cycles and real estate demand in the MMR region.
Consumer Behavior
Demand for specialized engineering solutions and MMR real estate.
Geopolitical Risks
Exposure to export markets for steel and raw materials; defense sector expansion via new subsidiary.
Regulatory & Governance
Industry Regulations
Compliance with Industry Standards on Related Party Transactions (June 26, 2025).
Legal Contingencies
No instances of non-compliances, penalties, or strictures in the last three years.
Risk Analysis
Key Uncertainties
Related party transaction volume (INR 1,000 Cr) and defense sector execution.
Geographic Concentration Risk
MMR region focus for real estate; domestic and export for trading.
Third Party Dependencies
High dependency on related parties (67.19% of turnover).
Credit & Counterparty Risk
Strong DSCR of 2.02.