Lloyds Metals & Energy Ltd – Investor Presentation Summary

Key Operational Highlights

  • Iron ore production volume for Q2FY27/H1FY27 stood at 3.95 MnT/10.00 MnT, exhibiting growth of 15.50%/35.14% YoY respectively
  • DRI Q2FY27/H1FY27 volumes stood at 160.60kt/343.06kt, higher 81%/104% YoY respectively
  • Pellets Production for Q2FY27/H1FY27 stood at 2.11 MnT/3.81 MnT respectively
  • 2nd Pellet Plant commissioned in May-26
  • Currently the monthly run rate in iron ore is ~2+ MnT
  • Power volumes were up by 82%/85% in Q2FY27/H1FY27 YoY respectively

Key drivers of operational performance: Higher iron ore EC limits, faster ramp-up of the pellet plant, improved sponge iron volumes, commissioning of slurry pipeline

Segment-wise Performance

Iron Ore Segment:

  • Iron ore sales volume for Q2FY27/H1FY27 stood at 2.12 MnT/7.59 MnT respectively
  • Realisation per tonne for Q2FY27/H1FY27 stood at INR 6,076/6,070 respectively
  • EBITDA per tonne for Q2FY27/H1FY27 stood at INR 2,082/2,239 respectively

DRI Segment:

  • DRI Realisations stood at INR 31,040 for Q2FY27 and INR 29,082 for H1FY27
  • EBITDA/tonne stood at INR 9,231 in Q2FY27 and INR 7,593 in H1FY27

Pellets Segment:

  • Realisation per tonne for Q2FY27/H1FY27 stood at INR 11,348/11,520 respectively
  • EBITDA per tonne for Q2FY27/H1FY27 stood at INR 4,604/4,988 respectively
  • Sales Mix: 71% domestic / 29% exports
  • Market Reach: Exports expanded into Kenya, South Korea, Indonesia and China; domestic reach across central and southern India

Financial Highlights

Standalone Performance:

  • Revenue from Operations: Q2FY27 - INR 41,320 Mn (62% YoY growth), H1FY27 - INR 95,449 Mn (94% YoY growth)
  • EBITDA: Q2FY27 - INR 15,380 Mn (83% YoY growth), H1FY27 - INR 36,582 Mn (126% YoY growth)
  • PAT: Q2FY27 - INR 11,119 Mn (84% YoY growth), H1FY27 - INR 26,387 Mn (113% YoY growth)
  • EBITDA Margin: H1FY27 - 38.33% (+542 bps YoY)
  • EPS: Not Specified

Consolidated Performance:

  • Revenue from Operations: Q2FY27 - INR 56,725 Mn (55% YoY), H1FY27 - INR 128,226 Mn (112% YoY)
  • EBITDA: Q2FY27 - INR 18,035 Mn (75% YoY), H1FY27 - INR 45,956 Mn (151% YoY)
  • PAT: Q2FY27 - INR 10,230 Mn (86% YoY), H1FY27 - INR 27,909 Mn (132% YoY)
  • EBITDA Margin: H1FY27 - 35.84% (+546 bps YoY)

Drivers of financial performance: Higher realisations across products, better product mix with higher contribution from value-added products like pellets, lower logistics and freight costs from slurry pipeline commissioning

Geographical Revenue Split

  • Domestic vs Export Revenue for Pellets: 71% domestic / 29% exports
  • Regional Breakdown: Exports to Kenya, South Korea, Indonesia and China; domestic across central and southern India

Balance Sheet Snapshot

Standalone:

  • Net Debt as on 30.09.2026: INR 93,155 Mn

Consolidated:

  • Net Debt as on 30.09.2026: INR 1,99,168 Mn
  • Expected debt reduction: Settlement estimate of Chemaf debt at USD 250 Mn or less would reduce Group debt by approximately INR 53,151 Mn to INR 1,46,017 Mn

Capex & Cash Flow Health

  • Capex incurred: INR 1,35,130 Mn during FY24-FY26 and INR 30,470 Mn/INR 60,523 Mn in Q2FY27/H1FY27 respectively
  • Free Cash Flow: Not Specified
  • Operating Cash Flow: Not Specified
  • Net Debt Movement: Not Specified

Strategic & R&D Initiatives

  • Commissioning of 85kms-10mnt slurry pipeline from Hedri to Konsari
  • New 195kms-16mnt slurry pipeline from Hedri to Ghughus
  • Investment in renewable energy scaling to 100 MW, with 120 MW planned
  • Natural gas introduced via trucks to optimize fuel costs
  • Electric, battery-operated, and LNG-hybrid mining equipment deployment
  • 88 electric equipment units operational at mines, additional 20 at railway siding

Expected impact: Per tonne savings on iron ore of INR 400-500 on consolidated basis, freight cost reduction of INR 500-600 per tonne on 85kms slurry pipeline, INR 800-1000 per tonne on 195kms slurry pipeline, internal freight reduction by INR 100-150 per tonne, significant cost savings of up to INR 100 crore annually

Industry Trends & Business Environment

  • India would need Iron Ore ROM EC Capacity of at least 525-637 MTPA by FY30
  • More than 80 MTPA of Iron ore mining capacity due for auction till CY 30
  • Current auction premium trends showing increased costs for new mines
  • LMEL mines valid till year 2057, providing long-term advantage

Management Commentary & Growth Outlook

FY27 Guidance:

  • Iron Ore Production: 26 MnT
  • Pellet Production: 7.75-8 MnT
  • DRI Production: 825 KT
  • Steel (WRM) Production: Q4FY27 Commissioning
  • Copper: 8-10 KT

Strategic Outlook: Building world-class assets in steel manufacturing, revolutionizing iron ore mining and beneficiation, aligning with nation's steel production goals

ESG Updates

  • CAREEDGE ESG Rating: CareEdge-ESG 1 Score 76.7 (assigned 13 Oct 2026)
  • Over 100+ MW through solar & wind power
  • Green fleet deployment through electric, battery-operated, and LNG-hybrid mining equipment
  • In FY26, over $19.06 Million invested through CSR activities
  • Contribution to exchequer: INR 52 billion
  • Attrition rates at c.13% in FY26 from 24% in FY22
  • ESOPs for all employees across all ranks

TEIPL (Thriveni Earthmovers) Performance

  • H1FY27 Revenue: INR 46,082 Mn (43% YoY growth)
  • H1FY27 EBITDA: INR 8,836 Mn (85% YoY growth)
  • EBITDA Margin: 19.18%
  • Net Debt (incl RPS) as on 30.09.26: INR 48,416 Mn
  • Net Worth as on 30.09.26: INR 27,353 Mn

Copper Operations

  • Q2FY27 production: 1,636 tonnes
  • Q2FY27 EBIT: USD 4.86 Mn
  • Challenges: High Sulphuric acid prices, supply chain disruptions, high ore cost due to logistics cost
  • Chemaf plants expected to start delivering cathodes in early FY28, full capacity of 6,000 TPM by mid FY28