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Swing Capital

Lloyds Engineering Works Ltd

NSE: LLOYDSENGG BSE: 539992Metal

Established in 1974, Lloyds Steels Industries is primarily engaged in the design, Manufacturing, and Commissioning of heavy equipment, machinery & systems for the HydroCarbon Sector, Oil & Gas, Steel Plants, Power Plants, Nuclear Plant Boilers, and Turnkey Projects. [1][2]

₹68.6
52W: ₹37.4 — ₹84.3
PE 81 · Book ₹11.4 · +502% vs book
Market Cap₹9,602 Cr
Stock P/E81Price to Earnings
ROCE14.6%Return on Capital
ROE10.6%Return on Equity
Div. Yield0.35%Face Value ₹1

Strengths

  • +Company is almost debt free.
  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 198% CAGR over last 5 years
  • +Company has been maintaining a healthy dividend payout of 29.4%
  • +Debtor days have improved from 77.5 to 45.8 days.
  • +Company's median sales growth is 19.1% of last 10 years

Weaknesses

  • −Promoter holding has decreased over last quarter: -7.35%
  • −Working capital days have increased from 139 days to 223 days

Shareholding Pattern

Promoters41.92%
FIIs1.97%
DIIs0.18%
Public52.21%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters57.25%57.25%56.39%▼0.956.23%▼0.249.36%▼6.949.26%▼0.149.26%41.92%▼7.3
FIIs2.12%2.22%▲0.12.87%▲0.62.66%▼0.22.22%▼0.42.15%▼0.11.93%▼0.21.97%▲0.0
DIIs0.14%0.15%▲0.00.16%▲0.00.16%0.15%▼0.00.16%▲0.00.16%0.18%▲0.0
Public40.45%40.35%▼0.140.57%▲0.240.66%▲0.148.26%▲7.648.41%▲0.148.63%▲0.252.21%▲3.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales201188135212230178174244222412
Expenses166161110180190152150206186359
Operating Profit36272532392724383653
OPM %18%14%19%15%17%15%14%15%16%13%
Net Profit27212128341718332939
EPS ₹0.190.150.150.190.230.110.120.280.240.28

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,052Cr, up 39.2% YoY. OPM at 14%.

Debt Position

Borrowings at ₹81Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.

Capex Cycle

CWIP at ₹66Cr (39% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.18% (+0.14pp change). FIIs: 1.97% (+1.94pp change). Promoters hold 41.92%.

Margin & Efficiency

ROCE declining from 55% (Mar 2015) to 15% (Mar 2026). Working capital days: 223.

Valuation

PE 81x with 14.6% ROCE. Price is 502% above book value of ₹11.4. Dividend yield: 0.35%.

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