Announcement • Jun 18
Lloyds Engineering Works Limited, Annual General Meeting, Aug 06, 2026 Lloyds Engineering Works Limited, Annual General Meeting, Aug 06, 2026. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹87.63, the stock trades at a trailing P/E ratio of 68.4x. Average trailing P/E is 27x in the Machinery industry in India. Total returns to shareholders of 314% over the past three years. New Risk • Jun 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (55% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.9% average weekly change). Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹77.97, the stock trades at a trailing P/E ratio of 60.9x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 305% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹70.65, the stock trades at a trailing P/E ratio of 64.6x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 250% over the past three years. Announcement • Apr 28
Lloyds Engineering Works Limited to Report Q4, 2026 Results on May 05, 2026 Lloyds Engineering Works Limited announced that they will report Q4, 2026 results on May 05, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹44.09, the stock trades at a trailing P/E ratio of 40.4x. Average trailing P/E is 23x in the Machinery industry in India. Total returns to shareholders of 179% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Board Change • Mar 02
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Additional Non-Executive Independent Director Apurva Chandra was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: ₹0.51 (vs ₹0.31 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.51 (up from ₹0.31 in 3Q 2025). Revenue: ₹2.97b (up 11% from 3Q 2025). Net income: ₹610.3m (up 71% from 3Q 2025). Profit margin: 21% (up from 13% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 37% per year. Announcement • Jan 30
Lloyds Engineering Works Limited to Report Q3, 2026 Results on Feb 04, 2026 Lloyds Engineering Works Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Feb 04, 2026 New Risk • Jan 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (104% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (27% increase in shares outstanding). Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: ₹0.41 (vs ₹0.24 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.41 (up from ₹0.24 in 2Q 2025). Revenue: ₹3.25b (up 53% from 2Q 2025). Net income: ₹518.4m (up 86% from 2Q 2025). Profit margin: 16% (up from 13% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 08
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (107% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (27% increase in shares outstanding). Announcement • Oct 31
Lloyds Engineering Works Limited to Report Q2, 2026 Results on Nov 07, 2025 Lloyds Engineering Works Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Nov 07, 2025 Upcoming Dividend • Aug 07
Upcoming dividend of ₹0.25 per share Eligible shareholders must have bought the stock before 14 August 2025. Payment date: 19 September 2025. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.9%). Reported Earnings • Jul 30
First quarter 2026 earnings released: EPS: ₹0.25 (vs ₹0.19 in 1Q 2025) First quarter 2026 results: EPS: ₹0.25 (up from ₹0.19 in 1Q 2025). Revenue: ₹2.26b (up 67% from 1Q 2025). Net income: ₹301.8m (up 42% from 1Q 2025). Profit margin: 13% (down from 16% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 29
Lloyds Engineering Works Limited announces Annual dividend, payable on September 19, 2025 Lloyds Engineering Works Limited announced Annual dividend of INR 0.2500 per share payable on September 19, 2025, ex-date on August 14, 2025 and record date on August 14, 2025. Announcement • Jul 28
Lloyds Engineering Works Limited, Annual General Meeting, Aug 21, 2025 Lloyds Engineering Works Limited, Annual General Meeting, Aug 21, 2025, at 11:00 Indian Standard Time. Announcement • Jul 25
Lloyds Engineering Works Limited to Report Q1, 2026 Results on Jul 29, 2025 Lloyds Engineering Works Limited announced that they will report Q1, 2026 results on Jul 29, 2025 New Risk • Jun 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 29% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risk Shareholders have been diluted in the past year (29% increase in shares outstanding). Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹60.03, the stock trades at a trailing P/E ratio of 67.9x. Average trailing P/E is 33x in the Machinery industry in India. Total returns to shareholders of 487% over the past three years. Announcement • May 20
Lloyds Engineering Works Limited (NSEI:LLOYDSENGG) agreed to acquire 76% stake in Metalfab Hightech Private Limited for approximately INR 280 million. Lloyds Engineering Works Limited (NSEI:LLOYDSENGG) agreed to acquire 76% stake in Metalfab Hightech Private Limited for approximately INR 280 million on May 20, 2025.
For the period ending March 31, 2025, Metalfab Hightech Private Limited reported total revenue of INR 1.59 billion.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is on or before May 31, 2025. Announcement • May 09
Lloyds Engineering Works Limited Recommends Final Dividend for the Financial Year 2024-25 Lloyds Engineering Works Limited at the Board of Directors of the meeting held on May 07, 2025 recommended final dividend of INR 0.25 paise (25%) per equity share of face value of INR 1 each for the financial year 2024-25, subject to the approval of the shareholders /Members at the upcoming 31st Annual General Meeting ("AGM") of the Company. The Dividend shall be paid/dispatched within 30 days from the date of shareholders /Members approval in coming AGM to all the eligible Shareholders who are the shareholders /Members of the Company as on the record date. Announcement • May 02
Lloyds Engineering Works Limited to Report Q4, 2025 Results on May 07, 2025 Lloyds Engineering Works Limited announced that they will report Q4, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹70.80, the stock trades at a trailing P/E ratio of 77.8x. Average trailing P/E is 33x in the Machinery industry in India. Total returns to shareholders of 408% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹61.42, the stock trades at a trailing P/E ratio of 67.4x. Average trailing P/E is 30x in the Machinery industry in India. Total returns to shareholders of 376% over the past three years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹57.43, the stock trades at a trailing P/E ratio of 63.1x. Average trailing P/E is 30x in the Machinery industry in India. Total returns to shareholders of 355% over the past three years. New Risk • Feb 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: ₹0.31 (vs ₹0.25 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.31 (up from ₹0.25 in 3Q 2024). Revenue: ₹2.76b (up 37% from 3Q 2024). Net income: ₹357.2m (up 31% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 65% per year whereas the company’s share price has increased by 63% per year. Announcement • Feb 07
Lloyds Engineering Works Limited to Report Q3, 2025 Results on Feb 13, 2025 Lloyds Engineering Works Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Announcement • Jan 24
Lloyds Engineering Works Limited (NSEI:LLOYDSENGG) completed the acquisition of an additional 12.25% stake in Lloyds Infrastructure & Construction Limited from Mahaprabhu Ventures Private Limited for approximately INR 140 million. Lloyds Engineering Works Limited (NSEI:LLOYDSENGG) acquired an additional 12.25% stake in Lloyds Infrastructure & Construction Limited from Mahaprabhu Ventures Private Limited for approximately INR 140 million on January 23, 2025. For the period ending March 31, 2024, Lloyds Infrastructure & Construction Limited reported total revenue of INR 3.95 billion. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The shares will get credited to the demat account of Lloyds Engineering Works Limited between 10-15 days.
Lloyds Engineering Works Limited (NSEI:LLOYDSENGG) completed the acquisition of an additional 12.25% stake in Lloyds Infrastructure & Construction Limited from Mahaprabhu Ventures Private Limited on January 23, 2025. Reported Earnings • Oct 20
Second quarter 2025 earnings released: EPS: ₹0.24 (vs ₹0.17 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.24 (up from ₹0.17 in 2Q 2024). Revenue: ₹2.18b (up 79% from 2Q 2024). Net income: ₹279.5m (up 50% from 2Q 2024). Profit margin: 13% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has increased by 137% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 15
Lloyds Engineering Works Limited to Report Q2, 2025 Results on Oct 19, 2024 Lloyds Engineering Works Limited announced that they will report Q2, 2025 results at 12:08 PM, Indian Standard Time on Oct 19, 2024 Announcement • Jul 31
Lloyds Engineering Works Limited (NSEI:LLOYDSENGG) entered into a Share Purchase Agreement to acquire 77% stake in Techno Industries Private Limited from Bharat Patel and others for INR 1.9 billion. Lloyds Engineering Works Limited (NSEI:LLOYDSENGG) entered into a Share Purchase Agreement to acquire 77% stake in Techno Industries Private Limited from Bharat Patel and others for INR 1.9 billion on July 30, 2024. The deal is for an overall equity valuation of INR 25 million. Lloyds will acquire 9.625 million shares at a premium of INR 84.20. Lloyds also intends to extend its stake to 100% in three years on pre-agreed terms. Techno Industries reported turnover of INR 1.7 billion for FY 2023-24. The Board of Directors of Lloyds Engineering Works has approved the deal. At this valuation, the acquisition is expected to be EPS accretive from the first year itself. Announcement • Jul 25
Lloyds Engineering Works Limited to Report Q1, 2025 Results on Jul 30, 2024 Lloyds Engineering Works Limited announced that they will report Q1, 2025 results on Jul 30, 2024 Upcoming Dividend • Jul 14
Upcoming dividend of ₹0.20 per share Eligible shareholders must have bought the stock before 19 July 2024. Payment date: 25 August 2024. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 07
Full year 2024 earnings released: EPS: ₹0.74 (vs ₹0.38 in FY 2023) Full year 2024 results: EPS: ₹0.74 (up from ₹0.38 in FY 2023). Revenue: ₹6.24b (up 100% from FY 2023). Net income: ₹798.4m (up 117% from FY 2023). Profit margin: 13% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has increased by 174% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jun 29
Dividend increased to ₹0.20 Dividend of ₹0.20 is 100% higher than last year. Ex-date: 19th July 2024 Payment date: 25th August 2024 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (16% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 41% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 87% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Jun 19
Insider recently sold ₹1.0m worth of stock On the 13th of June, Sudhir Dwivedi sold around 15k shares on-market at roughly ₹68.43 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹4.4m. Insiders have been net sellers, collectively disposing of ₹17m more than they bought in the last 12 months. Announcement • Jun 18
Lloyds Engineering Works Limited, Annual General Meeting, Jul 26, 2024 Lloyds Engineering Works Limited, Annual General Meeting, Jul 26, 2024. Recent Insider Transactions • May 21
Insider recently sold ₹3.7m worth of stock On the 15th of May, Renu Gupta sold around 58k shares on-market at roughly ₹62.50 per share. This transaction amounted to 80% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹4.4m. Insiders have been net sellers, collectively disposing of ₹14m more than they bought in the last 12 months. Recent Insider Transactions • May 10
Insider recently sold ₹3.6m worth of stock On the 7th of May, Sameer Tawade sold around 59k shares on-market at roughly ₹62.00 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹5.4m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹58.22, the stock trades at a trailing P/E ratio of 78.8x. Average trailing P/E is 39x in the Machinery industry in India. Total returns to shareholders of 2,745% over the past three years. Reported Earnings • May 03
Full year 2024 earnings released: EPS: ₹0.74 (vs ₹0.38 in FY 2023) Full year 2024 results: EPS: ₹0.74 (up from ₹0.38 in FY 2023). Revenue: ₹6.32b (up 102% from FY 2023). Net income: ₹798.4m (up 117% from FY 2023). Profit margin: 13% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has increased by 225% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 03
Lloyds Engineering Works Limited Proposes Dividend for the Financial Year Ended March 31, 2024 Lloyds Engineering Works Limited proposed dividend of INR 0.20 paise (i.e,20%) per equity share of face value of INR 1 each for the financial year ended March 31, 2024, subject to the approval of the shareholders at the up coming 30th Annual General Meeting, The Dividend shall be paid/dispatched within 30 days from the date of shareholders' approval in up coming AGM. New Risk • Apr 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹43.60, the stock trades at a trailing P/E ratio of 72.5x. Average trailing P/E is 32x in the Machinery industry in India. Total returns to shareholders of 3,407% over the past three years. New Risk • Feb 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Reported Earnings • Jan 24
Third quarter 2024 earnings released: EPS: ₹0.25 (vs ₹0.13 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.25 (up from ₹0.13 in 3Q 2023). Revenue: ₹2.01b (up 245% from 3Q 2023). Net income: ₹271.8m (up 113% from 3Q 2023). Profit margin: 14% (down from 22% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has increased by 282% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 17
Lloyds Engineering Works Limited to Report Q3, 2024 Results on Jan 23, 2024 Lloyds Engineering Works Limited announced that they will report Q3, 2024 results on Jan 23, 2024 Reported Earnings • Oct 21
Second quarter 2024 earnings released: EPS: ₹0.17 (vs ₹0.08 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.17 (up from ₹0.08 in 2Q 2023). Revenue: ₹1.23b (up 316% from 2Q 2023). Net income: ₹186.0m (up 146% from 2Q 2023). Profit margin: 15% (down from 26% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has increased by 304% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 14
Lloyds Engineering Works Limited to Report Q2, 2024 Results on Oct 20, 2023 Lloyds Engineering Works Limited announced that they will report Q2, 2024 results on Oct 20, 2023 Announcement • Aug 12
Lloyds Engineering Works Limited Announces Executive Changes Lloyds Engineering Works Limited announced that Mrs. Meenakshi A. Pansari (ACS: 53927) a qualified Company Secretary and Compliance Officer of Lloyds Engineering Works Limited (formerly known as Lloyds Steels Industries Limited) (hereinafter referred as `Company') held the office till the closure of business hours of 10th August 2023. In view of the above, the Board of Directors appointed Ms. Rahima Shaikh (ACS: 63449) as a Company Secretary and Compliance Officer of the Company in the Board Meeting held on 7th August 2023 who shall hold the office with effect from 11th August 2023 pursuant to section 203 of Companies Act, 2023 and Regulation 6 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. Announcement • Aug 09
Lloyds Engineering Works Limited Announces Executive Changes Lloyds Engineering Works Limited announced that at its board meeting held on August 7, 2023, noting of the resignation of Mrs. Meenakshi Pansari (ACS:53927) from the position of Company Secretary & Compliance Officer of the Company with effect from closure of business hours of 10th August 2023. Approved the appointment of Ms. Rahima Shaikh (ACS: 63449) as Company Secretary & Compliance Officer of the Company with effect from 11th August 2023. Ms. Meenakshi A. Pansari has tendered her Resignation from the position of Company Secretary and Compliance Officer vide her resignation letter dated 7th August 2023 due to personal reasons and Board has accepted the same in the Board Meeting held on 7th August 2023 and she will be discharged from her duties from the closure of business hours of 10th August 2023. Ms. Rahima Shaikh being a qualified Company Secretary from Institute of Company Secretaries of India (ACS: 63449) having two years of rich experience in Secretarial work who also holds a degree in Bachelor of Commerce shall be appointed on the Board. New Risk • Aug 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (43% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: ₹0.12 (vs ₹0.11 in 1Q 2023) First quarter 2024 results: EPS: ₹0.12 (up from ₹0.11 in 1Q 2023). Revenue: ₹1.15b (up 127% from 1Q 2023). Net income: ₹128.4m (up 27% from 1Q 2023). Profit margin: 11% (down from 20% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has increased by 287% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 03
Lloyds Engineering Works Limited to Report Q1, 2024 Results on Aug 07, 2023 Lloyds Engineering Works Limited announced that they will report Q1, 2024 results on Aug 07, 2023 Announcement • Jul 25
Lloyds Steels Industries Limited Approves Dividend for the Financial Year Ended March 31, 2023 Lloyds Steels Industries Limited announced that at its AGM held on July 24, 2023, shareholders approved the 10% dividend on equity shares for the financial year ended March 31, 2023. Upcoming Dividend • Jul 10
Upcoming dividend of ₹0.10 per share at 0.4% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 22 August 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%). New Risk • Jul 07
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (41% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.7% average weekly change). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Announcement • Jun 30
Lloyds Steels Industries Limited, Annual General Meeting, Jul 24, 2023 Lloyds Steels Industries Limited, Annual General Meeting, Jul 24, 2023, at 12:00 Indian Standard Time. Agenda: To receive consider and adopt the Audited Financial Statement of the Company for the Financial Year ended 31 March, 2023 and the reports of the Board of Directors and Auditors thereon; and to declare 10% dividend on Equity Shares for the Financial Year ended 31 March, 2023; to appoint a Director in place of Mr. Ashok Tandon, who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment; and to consider other matters. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹26.63, the stock trades at a trailing P/E ratio of 77x. Average trailing P/E is 27x in the Machinery industry in India. Total returns to shareholders of 3,043% over the past three years. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹23.38, the stock trades at a trailing P/E ratio of 67.6x. Average trailing P/E is 27x in the Machinery industry in India. Total returns to shareholders of 3,250% over the past three years. Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: ₹0.38 (vs ₹0.066 in FY 2022) Full year 2023 results: EPS: ₹0.38 (up from ₹0.066 in FY 2022). Revenue: ₹3.18b (up ₹2.68b from FY 2022). Net income: ₹368.2m (up ₹308.8m from FY 2022). Profit margin: 12% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has increased by 264% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹21.86, the stock trades at a trailing P/E ratio of 74.6x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 4,883% over the past three years. Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: ₹0.13 (vs ₹0.04 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.13 (up from ₹0.04 in 3Q 2022). Revenue: ₹595.0m (up 209% from 3Q 2022). Net income: ₹127.8m (up 241% from 3Q 2022). Profit margin: 22% (up from 20% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has increased by 253% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 24
Lloyds Steels Industries Limited to Report Q3, 2023 Results on Feb 02, 2023 Lloyds Steels Industries Limited announced that they will report Q3, 2023 results on Feb 02, 2023 Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 23% share price gain to ₹16.14, the stock trades at a trailing P/E ratio of 77x. Average trailing P/E is 25x in the Machinery industry in India. Total returns to shareholders of 3,013% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improved over the past week After last week's 16% share price gain to ₹15.04, the stock trades at a trailing P/E ratio of 71.7x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 2,917% over the past three years. Reported Earnings • Oct 28
Second quarter 2023 earnings released: EPS: ₹0.08 (vs ₹0.02 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.08 (up from ₹0.02 in 2Q 2022). Revenue: ₹316.4m (up 330% from 2Q 2022). Net income: ₹75.5m (up 287% from 2Q 2022). Profit margin: 24% (down from 27% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has increased by 204% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 21
Lloyds Steels Industries Limited to Report Q2, 2023 Results on Oct 27, 2022 Lloyds Steels Industries Limited announced that they will report Q2, 2023 results on Oct 27, 2022 Reported Earnings • Jul 21
First quarter 2023 earnings released: EPS: ₹0.11 (vs ₹0.01 loss in 1Q 2022) First quarter 2023 results: EPS: ₹0.11 (up from ₹0.01 loss in 1Q 2022). Revenue: ₹521.6m (up ₹469.7m from 1Q 2022). Net income: ₹100.8m (up ₹110.8m from 1Q 2022). Profit margin: 19% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has increased by 191% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 20
Lloyds Steels Industries Limited, Annual General Meeting, Aug 13, 2022 Lloyds Steels Industries Limited, Annual General Meeting, Aug 13, 2022, at 14:00 Indian Standard Time. Announcement • Jul 15
Lloyds Steels Industries Limited to Report Q1, 2023 Results on Jul 20, 2022 Lloyds Steels Industries Limited announced that they will report Q1, 2023 results on Jul 20, 2022 Reported Earnings • May 13
Full year 2022 earnings released: EPS: ₹0.07 (vs ₹0.006 in FY 2021) Full year 2022 results: EPS: ₹0.07 (up from ₹0.006 in FY 2021). Revenue: ₹598.5m (down 15% from FY 2021). Net income: ₹59.5m (up ₹54.4m from FY 2021). Profit margin: 9.9% (up from 0.7% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 164% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
Lloyds Steels Industries Limited Proposes Dividend for the Financial Year Ended March 31, 2022 Lloyds Steels Industries Limited announced Subject to the approval of the shareholders at the upcoming 28th Annual General Meeting, approved dividend of INR 0.05 paise (i.e.5%) per equity share of face value of INR 1 each for the financial year ended March 31, 2022. The Dividend shall be paid/dispatched within 30 days from the date of shareholders' approval in upcoming AGM. Reported Earnings • Feb 03
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.04 (up from ₹0.01 in 3Q 2021). Revenue: ₹207.9m (down 47% from 3Q 2021). Net income: ₹37.5m (up 330% from 3Q 2021). Profit margin: 18% (up from 2.2% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 171% per year, which means it is well ahead of earnings. Announcement • Jan 30
Lloyds Steels Industries Limited to Report Q3, 2022 Results on Feb 02, 2022 Lloyds Steels Industries Limited announced that they will report Q3, 2022 results on Feb 02, 2022 Announcement • Dec 27
Lloyds Steels Industries Limited announced that it expects to receive INR 207.207 million in funding Lloyds Steels Industries Limited announced a private placement of up to 15,180,000 12% optionally fully convertible debentures at an issue price of INR 13.65 each for gross proceeds of up to INR 207,207,000 on December 25, 2021. The transaction will include participation from Asha Om Hari Halan for 3,000,000 debentures, Sujata Vimal Hari Halan for 3,000,000 debentures, Anju Ajay Kumar Halan for 3,000,000 debentures, Pravina Pavan Kumar Halan for 3,000,000 debentures, Vishakha Narayan Hari Halan for 3,000,000 debentures and Gajanand Shyamsunder Mundhra for 180,000 debentures. The debentures carry coupon rate of 12% p.a. The debentures are to be issued at par. The issue of equity shares pursuant to conversion of debentures on preferential basis shall be at a price of INR 13.65 each (INR 1 face value + INR 12.65 premium). The transaction has been approved at the board meeting of the company and is subject to approval by the members in the extra ordinary general meeting and appropriate authorities. Reported Earnings • Oct 20
Second quarter 2022 earnings released: EPS ₹0.02 (vs ₹0.01 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: ₹73.7m (down 55% from 2Q 2021). Net income: ₹19.5m (up 235% from 2Q 2021). Profit margin: 27% (up from 3.6% in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 23
First quarter 2022 earnings released: ₹0.01 loss per share (vs ₹0.003 profit in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2022 results: Revenue: ₹75.7m (down 24% from 1Q 2021). Net loss: ₹10.1m (down 456% from profit in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 21
Full year 2021 earnings released: EPS ₹0.006 (vs ₹0.028 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹700.5m (down 39% from FY 2020). Net income: ₹5.04m (down 80% from FY 2020). Profit margin: 0.7% (down from 2.2% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings. Reported Earnings • Jun 03
Full year 2021 earnings released: EPS ₹0.01 (vs ₹0.028 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹831.4m (down 27% from FY 2020). Net income: ₹5.04m (down 80% from FY 2020). Profit margin: 0.6% (down from 2.2% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improved over the past week After last week's 16% share price gain to ₹1.30, the stock trades at a trailing P/E ratio of 72x. Average trailing P/E is 15x in the Metals and Mining industry in India. Negligible returns to shareholders over past three years. Is New 90 Day High Low • Mar 03
New 90-day high: ₹1.24 The company is up 68% from its price of ₹0.74 on 03 December 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 35% over the same period. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 20% share price gain to ₹1.13, the stock is trading at a trailing P/E ratio of 62.6x, up from the previous P/E ratio of 52.1x. This compares to an average P/E of 15x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 25%. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS ₹0.01 (vs ₹0.007 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₹411.2m (down 3.2% from 3Q 2020). Net income: ₹8.73m (up 46% from 3Q 2020). Profit margin: 2.1% (up from 1.4% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Feb 03
Lloyds Steels Industries Limited to Report Q3, 2021 Results on Feb 10, 2021 Lloyds Steels Industries Limited announced that they will report Q3, 2021 results on Feb 10, 2021 Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 42% share price gain to ₹1.04, the stock is trading at a trailing P/E ratio of 63.9x, up from the previous P/E ratio of 44.9x. This compares to an average P/E of 15x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 43%. Is New 90 Day High Low • Dec 07
New 90-day high: ₹0.87 The company is up 16% from its price of ₹0.75 on 08 September 2020. The Indian market is also up 16% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Metals and Mining industry, which is up 23% over the same period. Reported Earnings • Nov 15
Second quarter 2021 earnings released: EPS ₹0.01 The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ₹181.5m (up 26% from 2Q 2020). Net income: ₹5.83m (up 15% from 2Q 2020). Profit margin: 3.2% (down from 3.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Announcement • Nov 05
Lloyds Steels Industries Limited to Report Q2, 2021 Results on Nov 11, 2020 Lloyds Steels Industries Limited announced that they will report Q2, 2021 results on Nov 11, 2020 Is New 90 Day High Low • Oct 17
New 90-day low: ₹0.66 The company is down 27% from its price of ₹0.91 on 17 July 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 14% over the same period. Is New 90 Day High Low • Sep 21
New 90-day low: ₹0.73 The company is down 34% from its price of ₹1.11 on 23 June 2020. The Indian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 21% over the same period. Announcement • Sep 05
Lloyds Steels Industries Limited to Report Q1, 2021 Results on Sep 11, 2020 Lloyds Steels Industries Limited announced that they will report Q1, 2021 results on Sep 11, 2020 
