Lloyds Enterprises Limited announced that its material subsidiary, Lloyds Engineering Works Limited, has diluted its stake in Lloyds Advance Defence Systems Limited to 85%. The dilution follows a private placement of equity shares approved by the latter's shareholders on June 24, 2026. This changes the status of Lloyds Advance Defence Systems from a wholly-owned subsidiary to a subsidiary of Lloyds Engineering Works Limited.

Lloyds Advance Defence Systems was incorporated on December 11, 2025, as a wholly-owned subsidiary of Lloyds Engineering Works. The private placement involved the issuance of shares to the holding company and two other investors. The Board of Directors of Lloyds Advance Defence Systems approved the allotment of these equity shares on June 29, 2026.

The transaction was conducted for cash consideration. As a newly incorporated entity, Lloyds Advance Defence Systems reported a turnover of nil as of March 31, 2026. The company operates in the defence sector within India.

Key Details of Lloyds Advance Defence Systems

The disclosure was made to the exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information is also available on the company's website.

Lloyds Enterprises Limited has agreed to acquire a 17.98% stake in Steel Infra Solutions Company Limited (SISCOL) for ₹219 crore, strengthening its group holding to approximately 88.12%. The transaction, approved by the board on June 18, 2026, values SISCOL at approximately ₹1,220 crore and is expected to enhance the scale and reach of the group's material subsidiary, Lloyds Engineering Works Limited (LEWL). The acquisition targets a structural steel fabricator with a robust order book and blue-chip client base, including L&T and Tata Projects.

The deal involves the purchase of 73,00,000 equity shares through cash consideration. Alongside Lloyds Enterprises Limited, its material subsidiary LEWL and group entity Streamland Estate LLP are acquiring the remaining stakes. LEWL will acquire 52.16% of SISCOL through a mix of cash and share swap, while Streamland Estate LLP will purchase 17.98% via cash. The total consideration for the group's 88.12% acquisition is approximately ₹1,073 crore.

Strategic Rationale and Profile

SISCOL is a full-stack structural steel fabricator engaged in design, engineering, fabrication, and erection. The company has executed 187 projects across 22 states since 2018, including marquee infrastructure developments like the Delhi Airport T1 terminal and the Noida International Airport. Its manufacturing capacity spans six units in Bhilai, Vadodara, and Hyderabad, totaling 100,000 MTPA.

The company is led by Ravi Uppal, Chairman and Managing Director, who brings over four decades of experience in engineering and infrastructure. SISCOL will continue to operate under its existing brand and leadership post-acquisition, ensuring business continuity.

Financials and Order Book

For the financial year 2025-26, SISCOL reported a revenue of approximately ₹817 crore, EBITDA of approximately ₹92 crore, and a profit after tax of approximately ₹44 crore. The company has demonstrated consistent growth, with revenue rising from ₹573.49 crore in FY 2023-24 to ₹636.10 crore in FY 2024-25.

The business currently holds a robust order book of approximately ₹1,134 crore, providing strong near-term revenue visibility. The board stated that the acquisition is not a related party transaction and does not require specific governmental approvals, with an indicative completion timeline of July 31, 2026.