Industrial Machinery company Lloyds Engineering Works announced Q1FY25 results: Q1FY25 continued its robust performance, with revenue growing by 19.72% YoY led by efficient execution. EBITDA for Q1FY25 grew to Rs 26.99 crore from Rs 16.51 crore in Q1FY24; a growth of robust 63.53% YoY ; Margins For Q1FY25 stood healthy at 19.93%. Timely booking of raw materials, efficient execution of order book, and better productivity led to such healthy margins. Order Book as of 30th June 2024 stood at Rs 899.19 crore. The order book for the company has grown by 10%YoY. The order book is well balanced amongst various sectors. The latest technological tie-ups are further aiding the company in building a solid engineering product and solutions portfolio. The company has also received orders for Eco Pickling during Q1FY25. Order book as of date is ~2.88x of FY23 sales and 1.44x of FY24 sales . Order pipeline remains very encouraging and are expected to convert into firm orders in near to medium term. The company remains Net Debt-free, which further exhibits the company’s inherent strength of execution and operations. Lloyds Engineering Works Ltd. (LEWL) has entered into share purchase agreement for acquisition of 77% of Techno Industries Pvt. Ltd. (TI), through secondary transfer from existing shareholders, at an overall equity valuation of Rs 227.27 crore and to scale up to 100% on pre agreed terms over a period of time. This acquisition broadens LEWL’s product portfolio and strengthens its market position, a move that marks its strategic entry into the fast-growing electrical engineering sector. Result PDF
Industrial Machinery company Lloyds Engineering Works announced Q4FY24 results: Q4FY24 Financial Highlights: Revenue grew by 8.08% YoY led by efficient execution. EBITDA for Q4FY24 grew to Rs 29.73 crore from Rs 14.13 crore in Q4FY23, a robust growth of 110.32% YoY. Margins for Q4FY24 stood healthy at 15.58%. Order Book as of 31st March 2024 stood at Rs 904.32 crore. Among all the sectors, the Marine and Navy segment is witnessing a robust tailwind for the company. The latest technological tie-ups are further aiding the company in building a solid engineering product and solutions portfolio. FY24 Financial Highlights: For FY24, revenue grew robustly by 99.69% YoY to Rs 624.24 crore. Order book as of date is ~2.89x of FY23 sales and 1.45x of FY24 sales. Despite solid execution in FY24, the order book remains healthy. The order book for the company has grown by 32.42% YoY, with Rs 849.51 crore of fresh orders in FY24. Shreekrishna Gupta, the Whole time Director commented on FY24’s performance: “We are delighted to announce the exceptional performance of Lloyds Engineering in FY24, showcasing robust revenue growth fueled by our unwavering commitment to efficient execution and operational excellence. The substantial increase in revenue of 99.69% YoY for the entire fiscal year, underscores the resilience and strength of our business model. Our Q4FY24 EBITDA growth of 110.32% YoY to Rs 29.73 crore, with healthy margins at 15.58%, reflects our relentless pursuit of efficiency and productivity. The significant expansion of our order book to Rs 904.32 crore, a growth of 32.42% YoY, underscores the trust and confidence our clients place in us. Notably, our Order book is well-balanced across sectors, with the Marine and Navy segments showing encouraging signs of growth to come ahead . Maintaining a net debt-free status underscores our financial discipline and operational prowess. The recent acquisitions of fresh orders from the Navy signify our positive trajectory in the Defence sector, further strengthening our market position. Our strategic technological tie-ups are pivotal in augmenting our engineering product and solutions portfolio, opening doors to new opportunities in sunrise sectors. We are poised for even greater success, with a robust outlook and a strong foundation. Our strategy of focusing on customized orders ensures not only customer satisfaction but also sustains robust margins, setting us apart in the industry. We extend our heartfelt gratitude to our dedicated team, loyal customers, and supportive stakeholders whose contributions have been instrumental in our journey. As we look ahead, we remain committed to delivering value, driving innovation, and seizing opportunities for growth." Result PDF
Industrial Machinery company Lloyds Engineering Works announced Q3FY24 & 9MFY24 results: Financial performance: Revenue: - Q3FY24 saw the highest ever quarterly revenue at Rs 201.4 crores, marking a 245% increase YoY. - 9MFY24 revenue witnessed a significant rise of 214% YoY, amounting to Rs 436.3 crores. EBITDA: - EBITDA for Q3FY24 reached Rs 36.9 crores, an increase of 76% YoY. - The 9MFY24 EBITDA also grew by 79% YoY, standing at Rs 78.7 crores. - EBITDA Margins for Q3FY24 were at 18.2%. PAT: - PAT in Q3FY24 was recorded at Rs 27.1 crores, up by 112% YoY. - For 9MFY24, the PAT rose by 93% to Rs 58.7 crores. Order Book: - The order book grew by 55% YoY for 9MFY24, reaching Rs 746 crores. - Lloyds Engineering Works revealed a robust pipeline of orders/enquiries worth approximately Rs 450 crores. Rights Issue: - The recent right issue was oversubscribed by 2.7 times. Operational and Strategic Developments: - The area under manufacturing has expanded by 2.6 times in the last two years. - The company has made significant technological tie-ups to enhance its engineering product and solutions portfolio. Mr. Mukesh Gupta, the Chairman, commented on the performance: "We are pleased to share the exceptional achievements of our company in Q3 and 9M FY24, representing a transformative phase in our journey. We are proud to announce that we have achieved the highest quarterly revenue, with an outstanding 245% YoY growth for Q3FY24 and an impressive 214% YoY growth for 9M FY24." "Our order book has proven resilient, standing firm at 746 crores, showcasing a commendable 55% YoY growth. This resilience directly results from our steadfast commitment to excellence in execution, even during challenging periods." "As we celebrate these achievements, we thank our dedicated team and valued stakeholders for their unwavering support. Together, we are embarking on an exciting journey into a more structured growth phase, with confidence and determination." Result PDF
Industrial Machinery company Lloyds Engineering Works announced Q2FY24 & H1FY24 results: Financials: The company has exhibited strong financial performance with significant revenue growth in Q2FY24 and H1FY24. The revenue grew by 312% YoY in Q2FY24 and 192% YoY in H1FY24. The EBITDA also witnessed substantial growth, reaching Rs. 25.3 crores in Q2FY24 compared to Rs. 9.2 crores in Q2FY23. The company remains net debt-free, highlighting its strong financial position. Order Book: Lloyds Engineering Works has a robust order book, which stood at Rs. 921.4 crores as of September 2023. The order book has grown by 174% YoY, and the current order book is approximately 3 times the FY23 sales. This highlights the strong demand and confidence in the company's offerings. Strategic Plant Location: The company's manufacturing facilities are strategically located in Murbad, Thane. The plants are adjacent to each other, leading to cost efficiencies and better logistics. This centralized location enables better absorption of overhead costs and shared infrastructure. Technological Tie-ups: Lloyds Engineering Works has entered into strategic technological tie-ups with reputed organizations like The Material Works, Ltd. (TMW), Bhabha Atomic Research Centre (BARC), and TB Global Technologies Ltd (TBG). These tie-ups provide the company with cutting-edge technology and expertise in various sectors, further enhancing its capabilities and product offerings. "While rebranding as Lloyds Engineering Works, we aim to showcase our position as a provider of complete engineering and infrastructure solutions. Our goal is to deliver customized and efficient solutions to our clients, leveraging our technological tie-ups and strong manufacturing capabilities." - Shri. Mukesh R. Gupta, Chairman & Whole Time Director. "We are proud of our strong financial performance and the significant growth we have achieved. Our order book has grown impressively, reflecting the trust and demand for our products and solutions. We remain committed to delivering high-quality, innovative solutions to our clients across sectors." - Shri. Kalpesh Agrawal, CFO. Result PDF
Industrial machinery company Lloyds Engineering Works announced Q1FY24 results: Revenue for Q1FY24 exhibited a growth of 122.8% YoY backed by solid execution of orders. Strong order inflows coupled with swift execution helped the company to report such robust growth. EBITDA for Q1FY24 grew to Rs 16.5 crore from Rs 13.7 crore in Q1FY23; Margins for Q1FY24 stood at 14.6%. Timely booking of raw materials and better productivity led to such healthy margins Order Book as of June 30, 2023, stood at Rs 816.1 crore. The order book for the company has grown by 143% YoY, with 246 crore of fresh orders. The order book is well balanced amongst various sectors. A healthy inflow is expected to continue its momentum, imparting sufficient visibility to the company’s earnings. Order book as of date is ~2.6x of FY23 sales. Despite solid execution in FY23 & Q1FY24 order book remains healthy. Company remains Net Debt-free, which further exhibits the company’s inherent strength of execution and operations. Ongoing Capex plans are progressing well. Such enhanced capacities will be shot in the arm of the company’s execution capacities. Given the rebranding of the Company, the name of the Company has changed from “Lloyds Steels Industries Limited” to "Lloyds Engineering Works Limited”. Commenting on Q1FY24 results Mukesh Gupta, Chairman, said, “We are pleased to announce that Lloyds Engineering Works has achieved an exceptional performance in the first quarter of FY24. Our last few quarterly sales are surpassing the total sales of the entire financial year 2022, reflecting the immense growth and success we have experienced. Additionally, our order book currently stands at more than 2.6 times the sales of FY23, which demonstrates the increasing demand and trust in our services. Looking ahead, we are confident in maintaining a robust trajectory of growth. Our strong execution Skills and the growing order book will be instrumental in propelling us forward. We are committed to sustaining a range-bound margin of 15-18%, showcasing our focus on maintaining a healthy financial outlook and consistently delivering value to our stakeholders. Furthermore, our strategic decision to venture into new sectors with better margin profiles will expand our horizons and further enhance our competitive edge. This diversification aligns perfectly with our vision for sustained success and long-term profitability. We are pleased to emphasise that our balance sheet remains strong and healthy, providing us with a solid foundation to pursue new opportunities and navigate market dynamics effectively. As we continue to foster innovation, efficiency, and customer satisfaction, we are excited about the bright and promising future that lies ahead for Lloyds Engineering Works.” Result PDF
Industrial Machinery company Lloyds Steels Industries announced Q4FY23 & FY23 results: Q4FY23: Revenue for Q4FY23 exhibited a growth of ~10x YoY EBITDA for Q4FY23 grew to Rs 14.13 crore from Rs 8.37 crore FY23: Revenue for FY23 exhibited a growth of ~6x YoY FY23 EBITDA grew to Rs 58.04 crore from Rs 14.46 crore in FY22. Margins For FY23 stood at 18.23% Order Book as of 31st March 2023 stood at Rs 682 crore. The order book for the company has grown by ~1.8x YoY, with Rs 608 crore of fresh orders. The company remains Net Debt-free, which further exhibits the company’s inherent strength of execution and operations. Commenting on FY23 results Mukesh Gupta, Chairman said: “FY23 results are a big reflex of our team’s benign efforts. Our Revenue & Profitability both witnessed multifold growth of 6x YoY. Such growth was led by an all-around performance. A strong push by GoI on reviving the CAPEX cycle in India through various initiatives like PLI etc led the strong momentum in the sector. We started FY23 on a strong foot with an order book of Rs 377 crore, during the year company received orders worth Rs 608 crore which itself was higher by ~1.6x of the opening order book. This demonstrates underlying strength in our operations. Besides, solid growth in the order book of ~1.8x YoY, our execution of orders remained swift. This brings a great amount of sustainability in our earnings going ahead. Such strong underlying strengths impart great confidence in our growth story going ahead. Our order book is well diversified across all sectors giving us the advantage of being balanced and widespread across various industries. Our Company has partly expanded its capacities and is further looking to expand to accommodate a firmly growing order book. Our endeavour remains to supply customised engineering solutions to customers in a most time-bound and cost-efficient manner. Moreover, our balance sheet strength of being Net Debt Free further strengthens our quality of growth. We thus believe we are poised for an interesting journey ahead.” Result PDF