Lloyds Engineering Works Reports FY26 Results; Order Book Surges 91%
Lloyds Engineering Works reported robust FY26 audited results with consolidated revenue growing ~54% to Rs. 1,301.14 Crores, EBITDA up ~50% to Rs. 239.07 Crores, and net profit rising to Rs. 197.57 Crores. The consolidated order book surged ~91% to Rs. 2,643.39 Crores as on April 1, 2026, while standalone revenue grew ~39% to Rs. 1,052.22 Crores. The company also recommended a final dividend of Rs. 0.25 paise per share and completed multiple corporate actions including acquisitions and a rights issue raising Rs. 857.23 Crores.
*this image is generated using AI for illustrative purposes only.
Lloyds Engineering Works Limited reported robust audited financial results for the quarter and financial year ended March 31, 2026. The Board of Directors approved the results at a meeting held on May 5, 2026. The company delivered broad-based growth across revenue, profitability, and order book metrics on both consolidated and standalone bases, supported by significant corporate activities including acquisitions and a rights issue during the year.
Consolidated Financial Performance
On a consolidated basis, the company recorded strong growth across all key financial metrics for the year ended March 31, 2026. Revenue from operations grew approximately 54% year-on-year, while EBITDA and PBT also posted significant gains. The following table summarises the key consolidated financial highlights:
| Metric: | FY26 (Rs. Crores) | FY25 (Rs. Crores) | YoY Growth |
|---|---|---|---|
| Revenue from Operations: | 1,301.14 | 845.74 | ~54% |
| EBITDA: | 239.07 | 159.33 | ~50% |
| Profit Before Tax (PBT): | 202.90 | 141.14 | ~44% |
| Net Profit (after associate share): | 197.57 | 105.04 | — |
| Total Revenue (incl. Other Income): | 1,350.98 | 869.90 | — |
| Basic EPS (Rs., annualised): | 1.52 | 0.89 | — |
| Diluted EPS (Rs., annualised): | 1.49 | 0.89 | — |
For the quarter ended March 31, 2026, consolidated revenue from operations stood at Rs. 495.02 Crores, compared to Rs. 231.96 Crores in the corresponding quarter of the previous year. Consolidated profit before tax for the quarter was Rs. 59.40 Crores versus Rs. 35.44 Crores in Q4 FY25. Total comprehensive income for the full year attributable to shareholders of the company was Rs. 189.83 Crores.
Standalone Financial Performance
On a standalone basis, Lloyds Engineering Works also delivered strong growth for the year ended March 31, 2026. The key standalone financial highlights are presented below:
| Metric: | FY26 (Rs. Crores) | FY25 (Rs. Crores) | YoY Growth |
|---|---|---|---|
| Revenue from Operations: | 1,052.22 | 755.78 | ~39% |
| EBITDA: | 188.12 | 145.23 | ~30% |
| Profit Before Tax (PBT): | 161.38 | 130.02 | — |
| Net Profit After Tax: | 118.27 | 99.72 | — |
| Basic EPS (Rs., annualised): | 0.91 | 0.86 | — |
| Diluted EPS (Rs., annualised): | 0.89 | 0.86 | — |
For the quarter ended March 31, 2026, standalone revenue from operations was Rs. 411.86 Crores compared to Rs. 178.49 Crores in Q4 FY25, reflecting strong year-on-year momentum. Standalone profit before tax for Q4 FY26 was Rs. 55.73 Crores versus Rs. 27.90 Crores in the year-ago quarter. Standalone net profit for Q4 came in at Rs. 38.94 Crores against Rs. 16.88 Crores in the corresponding quarter of the previous year.
Order Book and Segment Performance
The company's consolidated order book position as on April 1, 2026 stood at Rs. 2,643.39 Crores, reflecting an approximately 91% increase compared to the order position of Rs. 1,383.78 Crores as on April 1, 2025. On a standalone basis, the order book as on April 1, 2026 was Rs. 2,351.90 Crores, up approximately 79% from Rs. 1,315.38 Crores as on April 1, 2025. Additionally, the order book position of Lloyds Infrastructure and Construction Limited, an associate of the company, stood at Rs. 5,681.76 Crores. The company aspires and plans to execute a major portion of orders in hand within 15 months, barring unforeseen circumstances.
On a consolidated segmentwise basis, the Engineering segment and Electrical segment reported the following gross revenues:
| Segment: | FY26 Gross Revenue (Rs. Crores) | FY25 Gross Revenue (Rs. Crores) |
|---|---|---|
| Engineering: | 1,267.27 | 777.96 |
| Electrical: | 187.26 | 93.13 |
| Total: | 1,454.53 | 871.09 |
The Engineering segment encompasses hydrocarbon process equipment, steel fabrication, marine/navy equipment, and power plant equipment, while the Electrical segment covers elevators, pumps, and motors. The consolidated financial results include subsidiaries Metalfab Hightech Private Limited, Techno Industries Private Limited, and Lloyds Advance Defence System Limited, which reported total revenues of Rs. 177.85 Crores, Rs. 187.26 Crores, and Rs. Nil, respectively. The associate's contribution comprised a group share of net profit of Rs. 42.06 Crores and group share of total comprehensive income of Rs. 42.19 Crores for the period.
Dividend, Corporate Actions, and ESOP Activity
The Board of Directors recommended a final dividend of Rs. 0.25 paise (i.e., 25%) per equity share of face value Re. 1 each for the financial year 2025-26, subject to approval by shareholders at the ensuing 32nd Annual General Meeting. The dividend will be paid or dispatched within 30 days from the date of shareholder approval, with the book closure and record date to be intimated separately.
During the year, the company undertook several significant corporate actions:
- Metalfab Hightech Private Limited Acquisition (May 20, 2025): The Board approved the acquisition of 21,85,000 equity shares representing 76.00% of Metalfab at Rs. 130/- each for an aggregate consideration of Rs. 28,40,50,000.
- Rights Issue (June 5, 2025): The Board approved the allotment of 30,85,17,476 partly paid-up equity shares at Rs. 32/- per share (including a premium of Rs. 31/- per share), of which Rs. 16/- per share was paid on application. Proceeds from the rights issue for the year ended March 31, 2026 amounted to Rs. 857.23 Crores.
- Techno Industries Private Limited Acquisition: The Board approved the acquisition of an additional 11% stake (13,75,000 shares) on July 1, 2025 for Rs. 25,00,00,000, followed by an additional 12% stake (14,99,999 shares) on December 26, 2025 for Rs. 22,70,00,000, making Techno Industries a wholly owned subsidiary with effect from December 26, 2025.
- Draft Scheme of Merger (December 29, 2025): The Board approved a draft merger scheme under which outside shareholders of Lloyds Infrastructure & Construction Limited would receive 1,798 fully paid-up equity shares of the company for every 1,500 shares held, and outside shareholders of Metalfab Hightech Private Limited would receive 94 fully paid-up equity shares for every 5 shares held.
- Conversion of Partly Paid Shares (March 11, 2026): The Board approved the conversion of 22,72,47,052 partly paid-up shares to fully paid-up, increasing paid-up capital from Rs. 132,58,23,348 to Rs. 143,94,46,874.
The Board also noted the allotment of 2,14,368 equity shares pursuant to the exercise of ESOPs at an exercise price of ₹9.50 per share, as approved by the Nomination and Remuneration Committee.
The ESOP activity under the Employee Stock Option Scheme 2021 for the year ended March 31, 2026 is summarised below:
| ESOP Parameter: | Number of Options |
|---|---|
| Outstanding at beginning of year (April 1, 2025): | 80,87,378 |
| Exercisable at beginning of year (April 1, 2025): | 33,27,740 |
| Granted during the year: | 1,17,77,869 |
| Vested during the year: | 60,54,144 |
| Lapsed (Unvested) during the year: | 7,34,657 |
| Vested but Unexercised Lapsed during the year: | 12,854 |
| Exercised during the year: | 33,58,774 |
| Outstanding at end of year (March 31, 2026): | 1,30,89,300 |
| Exercisable at end of year (March 31, 2026): | 60,10,256 |
The statutory auditors, S Y Lodha & Associates, issued an unqualified (unmodified) audit opinion on both the standalone and consolidated financial results for the quarter and year ended March 31, 2026.
Historical Stock Returns for Lloyds Engineering Works
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.69% | +5.89% | +39.00% | +4.56% | +17.87% | +3,753.46% |
How will the proposed merger of Lloyds Infrastructure & Construction Limited and Metalfab Hightech into Lloyds Engineering impact the consolidated balance sheet and earnings per share post-completion?
Given the 91% surge in the consolidated order book to Rs. 2,643 Crores and the 15-month execution target, what capacity expansion or workforce scaling plans does the company have to meet delivery timelines?
With Lloyds Advance Defence System Limited reporting zero revenue in FY26, what is the expected timeline for its first meaningful revenue contribution and which defence segments is it targeting?
17
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
