Promoter group entity Lloyds Metals & Minerals Trading LLP has pledged an additional 2,00,00,000 equity shares of Lloyds Metals & Energy , representing 3.55% of the paid-up share capital. This fresh encumbrance was created in favour of SBICAP Trustee Company Limited on August 27, 2026.

The latest pledge brings the total shares held by SBICAP Trustee Company Limited to 4,00,00,000, or 7.10% of the company’s equity. The trustee acts as security holder for lenders of Lloyds Metals & Energy Limited.

Shareholding Details

Prior to this transaction, SBICAP Trustee Company Limited held an existing pledge of 2,00,00,000 shares (3.55%) created by Sky United LLP on August 26, 2026. The new disclosure reveals that the total encumbrance with the trustee has now doubled.

Regulatory Disclosure

SBICAP Trustee Company Limited filed disclosures under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on August 28, 2026. The notices were submitted to the Bombay Stock Exchange and the National Stock Exchange of India Limited.

The earlier pledge by Sky United LLP was disclosed under Regulation 31(1) and 31(2) on August 26, 2026, with subsequent filings under Regulation 29(1) on August 28, 2026. The latest pledge by Lloyds Metals & Minerals Trading LLP was reported under Regulation 31 on August 29, 2026.

Lloyds Metals & Energy Limited delivered its strongest financial performance in Q1FY27, with standalone net profit after tax (PAT) rising 141% year-on-year to ₹1,527 crore. Consolidated revenue from operations more than tripled to ₹7,483 crore, reflecting aggressive volume growth across iron ore and value-added products. The company’s market capitalization crossed ₹1 lakh crore during the quarter, marking a significant milestone for the group.

The Board of Directors approved the unaudited financial results on August 10, 2026, following review by the Audit Committee. The results were filed with stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A transcript of the earnings conference call held on August 11, 2026, was subsequently filed under Regulation 30.

Financial Performance Highlights

Standalone revenue from operations grew 127% year-on-year to ₹5,413 crore, with EBITDA expanding 172% to ₹2,120 crore. This resulted in an all-time high standalone EBITDA margin of 39.2%, up 639 basis points year-on-year and 631 basis points quarter-on-quarter. Consolidated net profit after tax reached ₹1,734 crore, compared to ₹652 crore in Q1FY26.

Management attributed the margin expansion to three primary factors: the commissioning of the slurry pipeline which reduced logistics costs, higher realizations across products, and a shift in product mix toward value-added items. Value-added products now contribute 41% of standalone revenue and 40% of EBITDA, compared to 13% and 2% respectively in the prior year.

Operational Updates

Iron ore production reached 6.05 million tons, up 53% year-on-year, with sales at 5.46 million tons. Pellet production stood at 1.69 million tons, achieving 100% capacity utilization within four months of the second plant’s commissioning in May 2026. Direct Reduced Iron (DRI) sales volumes surged 133% year-on-year to 183,920 tons.

Thriveni Earthmovers, a key associate, reported revenue of ₹2,672 crore, up 63% year-on-year, with EBITDA margins expanding to 24.63%. Iron ore volumes for Thriveni nearly doubled to 19.09 million tons. The company also commenced operations at the Laserda-Pacheri mining project in Odisha and achieved full-scale operations at Central Hill.

Capital Expenditure and Debt

The company incurred capex of ₹3,005 crore in Q1FY27 alone, part of a broader investment cycle totaling ₹13,513 crore between FY24 and FY26. Standalone net debt as of June 30, 2026, stood at ₹5,616 crore. Consolidated net debt remains around ₹19,000 crore, largely due to the Chemaf acquisition. Management indicated ongoing efforts to renegotiate Chemaf debt terms, expecting a 40-50% reduction in overall debt upon completion of restructuring in the next quarter.

What the Numbers Show

The disproportionate rise in EBITDA margins relative to revenue growth highlights a structural shift in Lloyds Metals’ cost base. While revenue grew 127%, EBITDA grew 172%, driven by the slurry pipeline saving approximately ₹550 per ton in logistics costs. Furthermore, the contribution of value-added products to EBITDA jumped from 2% to 40% year-on-year, indicating that margin expansion is not merely cyclical but rooted in deeper integration and product mix optimization.

Other income increased significantly to ₹128 crore from ₹11.21 crore in the previous quarter, primarily due to interest income and Industrial Promotion Scheme (IPS) incentives from the government. The company also noted an opening stock of 1.5 million tons of iron ore, which is expected to be sold out during FY27, supporting higher sales volumes beyond current production rates.