Lloyds Metals & Energy will convene its Board of Directors on Wednesday, October 14, 2026, to consider the issue of Non-Convertible Debentures (NCDs). The meeting agenda includes approving the issuance of these debt instruments on a private placement basis.

The company filed a notice with both BSE Limited and the National Stock Exchange of India Limited on October 9, 2026. The filing cites Regulations 29 and 50 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Agenda Details

The primary item on the agenda is the consideration of the NCD issue. The notice specifies that the debentures will be issued via private placement. The Board will also address any other matters brought up with the permission of the chair during the session.

The notice of the meeting will be available on the company's official website for public access. This disclosure ensures transparency regarding the potential capital structure changes ahead of the board's decision.

Regulatory Compliance

The company adhered to standard listing obligations by informing the exchanges in advance. The following table summarizes the key details of the announcement:

No specific details regarding the size of the issue, coupon rate, or maturity tenor were disclosed in this preliminary notice. Investors should await the official outcome of the board meeting for further clarity on the quantum and terms of the proposed debt raising.

Lloyds Metals & Energy Limited recorded its highest-ever first-half operational performance in H1FY27, driven by a 36% year-on-year increase in iron ore production to 10 million tonnes.

The integrated metal and mining company also witnessed significant growth in downstream products. Direct Reduced Iron (DRI) output more than doubled to 343,000 tonnes, while pellet production surged to 3.8 million tonnes, reflecting successful ramp-up of new capacity.

Iron ore and BHQ production momentum

Iron ore mining operations maintained strong momentum, achieving 10 million tonnes in the first half of FY27 compared to 7.4 million tonnes in the corresponding period last year. The company remains on track to meet its full-year guidance of producing 26 million tonnes of iron ore in FY27.

Notably, the mined ore figures exclude Banded Hematite Quartzite (BHQ) stockpiles. The company accumulated 8.7 million tonnes of BHQ during this period, up from 1.2 million tonnes in H1FY26. This material is slated for processing once the newly commissioned beneficiation plants become fully operational.

Downstream expansion drives pellet and DRI growth

The commissioning of the second 4 million tonne per annum (MTPA) pellet plant at Konsari significantly boosted capacity to 8 MTPA. This expansion enabled pellet production to reach 3.8 million tonnes in H1FY27, implying 100% capacity utilisation. The rapid ramp-up marks one of the fastest timelines achieved by the company for such infrastructure projects.

In the DRI segment, production rose 104% YoY to 343,064 tonnes from 167,812 tonnes in H1FY26. This volume implies consistent capacity utilisation exceeding 90% across its two Maharashtra locations.

Copper segment contribution

Lloyds Metals also reported copper production of 4,389 tonnes in H1FY27. This figure includes residual production from the Chemaf plant during Q1FY27, marking continued activity in its base metals division following investments in the Democratic Republic of Congo.

Production summary H1FY27

What the numbers show

The data reveals a strategic shift towards value addition and higher-value products. While iron ore volumes grew 36%, the pellet segment expanded 372%, indicating that downstream processing is becoming a larger contributor to overall output mix. Furthermore, the massive accumulation of 8.7 million tonnes of BHQ, which is currently excluded from saleable ore figures, suggests significant future revenue potential once beneficiation capacities are fully utilised.