Lloyds Engineering Q2 Results: Profit Jumps 49% As Revenue Nearly Doubles

Lloyds Engineering Works Ltd., earlier known as Lloyds Steel Industries Ltd., reported a 48.8% year-on-year increase in its net profit for the quarter ended September as its revenue nearly doubled.

The company reported a consolidated net profit of Rs 27.9 crore as against Rs 18.8 crore in the year ago period, according to an exchange filing. Consolidated revenue of Rs 212 crore compared to Rs 128 crore in the corresponding quarter last year.

While earnings before interest, tax, dividend, depreciation, and amortisation (Ebitda) rose 32.9% to Rs 31.8 crore from Rs 24 crore year ago. Ebitda margin fell to 15% from 19.7% in the same quarter of the previous year.

The filing also said that Lloyds Engineering Work's order book position as of Oct. 1, 2024 stood at Rs 1,365.86 crore. "With a more extensive base of the order book to begin FY24; the roadmap is relatively steady to deliver higher growth in the coming years," the company's investor presentation said adding that the company plans to systematically grow to build over a more extensive base.

It also noted that with fresh orders, the order book now stands at 2.19 times FY24 revenue.

For the first half of the fiscal, the company said its Ebitda grew to Rs 64.58 crore from Rs 41.83 crore in H1FY24, reporting a growth of robust 54.40% on the year. Margins for H1FY25 stood healthy at 18.58%, the presentation said. "Timely booking of raw materials, efficient execution of the order book, and better productivity led to such healthy margins."

On Friday, shares of Lloyds Engineering ended 0.6% up at Rs 78.79 apiece.