Lloyds Metals and Energy has released its operational update for 9MFY26 under Regulation 30, demonstrating exceptional performance across all key production segments. The integrated metal and mining company, which operates one of the country's largest single-location iron ore mines at Surjagarh, has achieved significant milestones that underscore its operational excellence and strategic execution.

Outstanding Iron Ore Production Performance

The company's iron ore segment delivered remarkable results during 9MFY26, with production volumes significantly exceeding previous year performance. The operational achievements are highlighted in the following table:

The iron ore production of 12.9 million tonnes for 9MFY26 has already surpassed the entire annual production of the previous financial year. Notably, Q3 FY26 volumes alone reached 5.5 million tonnes, representing a substantial 110% year-on-year increase, supported by robust on-site mining activities and the commissioning of the slurry pipeline for more efficient evacuation.

Value-Added Products Drive Growth

The company's Direct Reduced Iron production reached 291,099 tonnes during 9MFY26, compared to 238,433 tonnes in the corresponding previous period, marking a 22% growth. This performance was significantly enhanced by the commissioning of the new 360 KTPA DRI facility at Ghugus during Q2 FY26, which contributed to Q3 FY26 DRI production being 61% higher year-on-year.

The 4 MTPA pellet plant has demonstrated exceptional operational efficiency, producing 1.95 million tonnes in 9MFY26. This translates to an annualised capacity utilisation of more than 95%, indicating optimal facility performance and strong market demand for pelletized products.

Infrastructure and Operational Excellence

Lloyds Metals and Energy operates from its expanded Environmental Clearance capacity of 55 million tonnes per annum at Surjagarh, Gadchiroli district. The company has successfully commissioned an 85 km slurry pipeline from Hedri to Konsari, significantly strengthening its logistics integration and supporting the improved evacuation capabilities that contributed to the strong Q3 performance.

The company's DRI manufacturing capacity now stands at 700,000 TPA spread across two locations in Maharashtra. The mined ore excludes 4.5 million tonnes of BHQ, which the company plans to process once the beneficiation plants are commissioned, representing additional future production potential.

Strategic Market Position

As the largest merchant iron ore miner in Maharashtra and a leading integrated metal and mining company incorporated in 1977, Lloyds Metals and Energy continues to leverage its strategic mine location advantages. The company caters to key steel and industrial markets across India, reinforcing its position as a vital contributor to the country's steel value chain through its focus on sustainability, innovation, and cost leadership.

Sky United LLP, a promoter entity of Lloyds Metals and Energy Limited , has disclosed substantial acquisition of equity shares following the conversion of convertible warrants on December 31, 2025. The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Warrant Conversion Details

Sky United LLP converted 74,99,998 convertible warrants into equity shares at an issue price of ₹740 per share, comprising face value of ₹1 and premium of ₹739 per warrant. The conversion was part of the preferential allotment approved by the company's board on December 31, 2025.

Shareholding Pattern Changes

Following the warrant conversion, Sky United LLP's shareholding in Lloyds Metals has increased significantly. The entity's voting rights percentage has risen from 12.47% to 13.49% of the total share capital.

Capital Structure Impact

The warrant conversion has resulted in changes to Lloyds Metals' capital structure. The company's equity share capital increased following the allotment of shares to various warrant holders.

Regulatory Compliance

Sky United LLP filed the disclosure on January 2, 2026, with BSE Limited and National Stock Exchange of India Limited, where Lloyds Metals shares are listed. The disclosure was signed by Hemankur Upadhyaya, Designated Partner of Sky United LLP.

The company had originally allotted 3,67,95,000 convertible warrants to promoters and non-promoter groups, out of which 1,52,68,950 warrants were exercised by warrant holders as of December 31, 2025. Sky United LLP's conversion represents the largest single conversion among all warrant holders.