Sugs Lloyd Limited has announced its financial results for the nine months ended FY26, showcasing robust growth across key performance metrics. The company, which operates in Power T&D Infrastructure, Solar EPC Solutions, and Civil Construction, reported significant year-on-year improvements in revenue and profitability.

Financial Performance Highlights

The company's financial performance for 9M FY26 demonstrates strong operational execution and market positioning:

The company's revenue growth of 60.62% reflects strong demand across its business verticals, while maintaining healthy profitability margins.

Business Segment Performance

Sugs Lloyd's diversified business model spans three key segments, each contributing to the overall growth:

The Power T&D Infrastructure segment, representing nearly half of total revenue, benefits from the company's domain expertise and high entry barriers in the market. The Solar EPC Solutions segment shows strong focus towards renewable energy with significant untapped potential in distributed generation.

Strong Order Book and Market Position

Sugs Lloyd maintains a robust order book of ₹418+ crore, providing visibility for 24-30 months. The company has established arrangements to enhance bidding capacity up to ₹1000+ crore, with ₹840+ crore in tenders close to finalization. Additionally, the company has ₹1000+ crore in qualified bids under evaluation, indicating a strong pipeline for future growth.

Strategic Growth Initiatives

The company has outlined five key growth strategies to expand its market presence:

• Enhanced Bidding: Strategic tie-ups and prebid arrangements to increase bidding capacity • Solar Projects Expansion: Exploring hybrid (CAPEX + RESCO) opportunities across Bihar, Rajasthan, Puducherry, Punjab, and Himachal Pradesh • Transmission Capacity Building: Inducting experienced teams for EHV project execution • Geographic Expansion: Extending operational footprint to mitigate concentration risk • Technology Integration: Developing proprietary digital tools to improve operational efficiency

Market Outlook and Opportunities

The company operates in sectors with significant growth potential. The Power T&D sector is expected to see ₹4.75 lakh crore transmission capex by 2030 for achieving 500GW capacity, while the RDSS scheme involves ₹3.04 lakh crore for smart meters and grid automation. In the solar segment, the National Electricity Plan targets 280 GW solar PV by 2030, requiring approximately ₹10.5 lakh crore investment.

Balance Sheet Strength

As of 9M FY26, the company's balance sheet shows:

With over 16 years of experience, 500+ employee strength, and 50%+ FPI market share, Sugs Lloyd continues to strengthen its position across multiple states including Delhi, Bihar, Odisha, Gujarat, Punjab, Himachal Pradesh, Maharashtra, Uttar Pradesh and Chhattisgarh.

Source:

Sugs Lloyd Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, in compliance with SEBI regulations regarding IPO proceeds utilization. The report, prepared by Acuite Ratings and Research Limited, provides a comprehensive overview of how the company has deployed funds raised through its Initial Public Offering.

IPO Proceeds Utilization Overview

The monitoring agency report reveals that Sugs Lloyd has utilized INR 73.71 crores out of its total IPO proceeds of INR 85.66 crores, leaving INR 11.94 crores unutilized as of December 31, 2025. The company's IPO was conducted from August 29, 2025 to September 02, 2025, raising the targeted amount for specified business objects.

Object-wise Fund Deployment

The company allocated its IPO proceeds across three primary objects as disclosed in the offer document. The monitoring agency confirmed that all utilizations align with the original disclosures without any material deviations.

The company has fully utilized the allocated amount for public issue related expenses, while substantial progress has been made in deploying funds for working capital requirements and general corporate purposes.

Deployment of Unutilized Funds

The remaining INR 11.94 crores comprises INR 11.65 crores deployed as fixed deposits and INR 0.29 crores available in the ICICI Bank current account. The company has strategically invested the unutilized proceeds in fixed deposits with ICICI Bank and Yes Bank to earn returns while maintaining liquidity.

Compliance and Monitoring Assessment

The monitoring agency confirmed several key compliance aspects in its assessment. No deviations were observed from the objects disclosed in the offer document, and no changes were noted in the means of finance for the disclosed objects. The report indicates that government or statutory approvals are not required for the stated objects, as the primary focus is working capital deployment.

Key findings from the monitoring assessment include:

• No material deviations from expenditures disclosed in the offer document
• No unfavorable events affecting the viability of the objects
• Proper documentation and certification by statutory auditors
• Compliance with SEBI listing and ICDR regulations

The monitoring agency, Acuite Ratings and Research Limited, has provided an objective assessment based on information provided by the issuer and independent verification through statutory auditor certifications dated January 28, 2026.