Date: 05th November, 2026

Corporate Restructuring

Lloyds Enterprises is undergoing corporate restructuring to create two focused businesses:

  • The company will first merge its real estate subsidiaries (Lloyds Realty Developers and Indrajit Properties) into itself
  • The entire real estate business will then be separated into a new company, Lloyds Realty Limited
  • After restructuring, Lloyds Enterprises will retain only the trading and investment business
  • Lloyds Realty Limited will operate as a standalone real estate company and will be automatically listed separately
  • Regulatory approval status: NSE and BSE approvals received, NCLT sanction awaited
  • Share entitlement ratio: 1 fully paid-up equity share of Lloyds Realty Limited for every 2 fully paid-up equity shares of Lloyds Enterprises Limited

Financial Results (Consolidated)

| Particulars (INR Crores) | H1 FY27 | H1 FY26 | YoY (%) |

| Total Income | 1,343.20 | 1,059.67 | +27% |

| Total expenses | 1,118.38 | 691.35 | +62% |

| EBIDTA* | 224.82 | 368.32 | -39% |

| EBIDTA Margin (%) | 16.74% | 34.76% | -1,802 bps |

| Depreciation and amortization | 19.40 | 9.28 | +109% |

| Finance costs | 33.20 | 17.97 | +85% |

| Profit Before Tax | 172.22 | 341.07 | -50% |

| Tax | 32.08 | 54.35 | -41% |

| Share of associates | 28.07 | 23.79 | +18% |

| Total Comprehensive Income | 1,411.84 | 219.75 | +542% |

Financial Results (Standalone)

| Particulars | H1 FY27 | H1 FY26 | YoY (%) |

| Total Income | 176.19 | 489.50 | -64% |

| Total expenses | 148.34 | 188.66 | -21% |

| EBIDTA* | 27.85 | 300.84 | -91% |

| EBIDTA Margin (%) | 15.81% | 61.46% | -4,565 bps |

| Depreciation and amortization | 0.26 | 0.24 | +8% |

| Finance costs | 20.17 | 11.67 | +73% |

| Profit Before Tax | 7.42 | 288.93 | -97% |

| Tax | (0.34) | 37.61 | - |

| Total Comprehensive Income | 3,775.68 | 114.81 | +3,189% |

Subsidiary Performance - Lloyds Engineering Works Limited (LEWL)

  • H1 pro forma income: ₹2,550 Cr (+74% YoY)
  • H1 pro forma EBITDA: ₹359 Cr (+50% YoY)
  • H1 pro forma PAT: ₹212 Cr (+33% YoY)
  • Order book as of 30 September 2026: ₹10,355 Cr
  • Manufacturing capacity: ~3 lakh sq m across Ahmedabad, Nagpur, Murbad, Bhilai and SISCOL

H1 FY27 Income Breakdown:

  • LICL (24.2% associate): ₹1,402 Cr, EBITDA Margin 14.3%
  • LEWL standalone: ₹718 Cr, EBITDA Margin 16.3%
  • SISCOL (51.7% owned): ₹500 Cr, EBITDA Margin 10.2%
  • Metalfab (76% owned): ₹198 Cr, EBITDA Margin 15.4%
  • Techno Industries (wholly owned): ₹90 Cr
  • LADS (85% owned): ₹7 Cr, EBITDA Margin 16.2%

Order Book Mix:

  • EPC & Infrastructure: ₹5,764 Cr (56%)
  • Fabrication: ₹1,443 Cr (14%)
  • Other engineering: ₹3,149 Cr (30%)

Subsidiary Performance - Lloyds Realty Developers Limited (LRDL)

  • Three decades of delivery across Mumbai, MMR, Pune and Tirupur
  • 30 lakh+ sq ft across 19 residential and commercial projects delivered
  • Wholly owned subsidiary of Lloyds Enterprises
  • Current pipeline: ~1.75 Cr sq ft
  • Five partnership formats: Development management, Co-development, Financial partners, Redevelopment, Plotted development

Recent Project Deliveries:

  • The Square, Andheri East, Mumbai: 1.87 lakh sq ft commercial, completed 2026
  • 1515 Moneco, Prabhadevi, Mumbai: 64,000 sq ft residential tower, completed 2025
  • Pearl Residency, Prabhadevi, Mumbai: 2.25 lakh sq ft residential, completed 2017
  • Om Chambers, Pimpri, Pune: 3.50 lakh sq ft commercial, completed 2018

New Projects in Q2 FY27:

  • 2 projects totaling 8.69 Lacs sq ft added to pipeline

Strategic Investments

SISCOL Acquisition (June 2026):

  • Lloyds group acquired 87.45% stake in Steel Infra Solutions Company Limited for ₹1,073.40 crore
  • Lloyds Engineering Works acquired 51.70% for ₹635.40 crore through cash and share swap
  • Lloyds Enterprises acquired 17.88%
  • Streamland Estate LLP acquired 17.88%
  • SISCOL H1 FY27 performance: Total Income ₹500 Cr, EBITDA ₹51 Cr (10.22% margin), PAT ₹20 Cr
  • 187 structural steel projects executed across 22 states
  • Combined structural fabrication capacity: 150,000 MTPA

Thriveni Lloyds Swarnagiri Private Limited (Gold Mine):

  • India's first private primary gold mine, now in commercial production
  • Commercial operations launched on 24 June 2026
  • Q2 FY27 production: 135 kg of gold
  • FY27 target: ~400 kg of gold
  • LEL holds ~31% economic stake through 50% interest in Prakar Estate and Promoters LLP
  • Environmental Clearance valid until 2043
  • Peak gold capacity: ~1,000 KgPA
  • Total investment: ₹405 crore to date
  • JORC resources: ~17.5 mt at 1.46 g/t (~12 t gold)

Lloyds Metals & Energy Ltd (LMEL):

  • LEL holds 4.13% stake in LMEL
  • Integrated mining and metals platform with large, long-life iron-ore resource
  • Capacity: ROM handling at 55 Mtpa; pellets at 8 Mt (expanding to 12 Mt); DRI at 0.70 Mt
  • 85-km slurry pipeline operating at 10 Mtpa
  • Planned 195-km, 16-Mtpa slurry line from Hedri to Ghugus
  • 1.2-Mtpa steel plant commissioning targeted by March 2027
  • Tata Steel partnership: MoU to explore collaboration across mining, logistics and steel

Capital Market Information

As of 30th September 2026:

  • Face Value: ₹1.0
  • Market Price: ₹79.40
  • 52 Week H/L: ₹84.72/₹40.86
  • Market Cap: ₹12,120 Cr
  • No. of Shares - Fully Paid Up: 152.41 Cr
  • No. of Shares - Partly Paid Up: 0.24 Cr

KMP / Board Changes

Not Specified

Dividend Declaration

Not Specified