India Ratings and Research stated that the upgrade reflects Lloyds Metals likely receiving the mining approval by end-FY25, resulting in a significant increase in mining volumes FY26 onwards and higher scale of operations. The upgrade also reflects India Ratings' expectation of a low-cost position of LMEL in steel making following the completion of its planned capex, supported by its captive iron ore mine as well as saving on logistic cost. However, the pace of the ramp-up of operations shall remain a key rating monitorable. The rating is further supported by India Ratings' expectation of LMEL's strong financial profile with a low net leverage ratio and strong liquidity, despite its high capex towards setting up of integrated steel plant as the entire capex will be funded through internal accruals. The agency said that timely phase-wise completion and the ramp-up of the steel capex along with the ramp-up of the mine production as envisaged, leading to an increase in the proportion of its higher value-added product, and the increased EBITDA per tonne while maintaining the debt-free balance sheet, all on a sustained basis, could lead to a positive rating action. However, any delay in the ramp-up of the scheduled capex and/or mine production as well as any substantial debt-funded acquisitions/capex/diversion of funds to group entities or any other event, leading to severe depletion of the free cash balances, with the net-adjusted leverage rising above 1.25x and/or any adverse regulatory or legal interventions could lead to a negative rating action. Lloyds Metals and Energy is engaged in the iron ore mining at Surjagarh village, Gadchiroli district, Maharashtra, and manufacturing of sponge iron. The company's sponge iron plant is in Chandrapur district of Maharashtra with an installed capacity of 340,000MTPA along with a 34MW captive power plant. Powered by Capital Market - Live

India Ratings and Research (Ind-Ra) has upgraded Lloyds Metals & Energy (LMEL) Long-Term Issuer Rating from IND AA-/Stable to IND AA/Stable. Powered by Capital Market - Live

Lloyds Metals & Energy announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 17 January 2025.Powered by Capital Market - Live

The Board of Lloyds Metals & Energy at its meeting held on 09 December 2024 has approved the company's entry into new line of business being Mines Development and Operations. This strategic move will allow the company to expand its capabilities and diversify within the mining sector to reach overall objective of optimizing reduction of input cost for its integrated steel business.Powered by Capital Market - Live

The firm stated that this strategic move will allow it to diversify within the mining sector to reach the overall objective of optimizing reductions in input costs for integrated steel business. The new line of business, MDO, falls under the Metals and Mining Industry. More specifically, it falls under the sub-sector of Mineral Extraction and Resource Development, which involves the exploration, development, and operation of mines for the extraction of various minerals and other natural resources. The adoption will provide benefits such as cost reduction in integrated steel operations, improved supply chain efficiency, optimise operational costs, enhanced profitability, enhanced market position and provide access to valuable resources. The company said that this move will allow to expand offerings in the MDO segment, with the expertise and experience gained being exclusively accredited to and utilized by the company. Additionally, it will provide stability over a longer period of time through sustainable mining practices, and the opportunity to build a strong, competitive presence in the industry, the firm added. The investment amount depends on various factors, including scale of operations, research and development costs, technologies and equipment, regulatory compliance, etc. Lloyds Metals and Energy is a metals and mining company engaged in mining iron ore, manufacturing sponge iron and generating power. The company had reported a 30.3% jump in consolidated net profit to Rs 301.32 crore on a 25% increase in net sales to Rs 1,364.43 crore in Q2 FY25 as compared with Q2 FY24. The counter hit an all-time high of Rs 1,100.80 in intraday today. Powered by Capital Market - Live

Net profit of Lloyds Metals & Energy rose 30.30% to Rs 301.32 crore in the quarter ended September 2024 as against Rs 231.25 crore during the previous quarter ended September 2023. Sales rose 25.03% to Rs 1364.43 crore in the quarter ended September 2024 as against Rs 1091.31 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1364.431091.31 25 OPM %24.8826.24 - PBDT441.20305.24 45 PBT423.52295.04 44 NP301.32231.25 30 Powered by Capital Market - Live

Lloyds Metals & Energy will hold a meeting of the Board of Directors of the Company on 23 October 2024.Powered by Capital Market - Live

Lloyds Metals & Energy has allotted 1,00,53,000 convertible warrants of face value of Re 1 each at a premium of Rs 739 each to non-promoters of the company on preferential basis on 25 September 2024. Powered by Capital Market - Live

Net profit of Lloyds Metals & Energy rose 38.22% to Rs 557.40 crore in the quarter ended June 2024 as against Rs 403.26 crore during the previous quarter ended June 2023. Sales rose 22.98% to Rs 2417.24 crore in the quarter ended June 2024 as against Rs 1965.52 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales2417.241965.52 23 OPM %29.7327.26 - PBDT722.60547.23 32 PBT703.87539.66 30 NP557.40403.26 38 Powered by Capital Market - Live

Lloyds Metals & Energy will hold a meeting of the Board of Directors of the Company on 30 July 2024.Powered by Capital Market - Live