| Revenue growth | Standalone Q2 revenue ₹4,132 Cr, +62% YoY; H1 ₹9,545 Cr, +94%. |
|---|---|
| Margins | H1 EBITDA margin 38.33%, +542 bps YoY; Q2 37.22%, +419 bps. |
| Demand visibility | Iron ore run-rate above 2 Mt monthly; sales 71% domestic, 29% export. |
| Management confidence | Optimistic headline; defensive on debt and Q2 weakness, deflects hypotheticals. |
Growth
Standalone Q2 revenue ₹4,132 Cr (+62% YoY), EBITDA +83%; growth led by pellet ramp-up, pipeline freight savings, and realisations.
Outlook
Copper 5,850t FY27 (cut from 8,000t); ~₹13,000 Cr FY27 capex; ~9.5Mt iron ore FY28.
Risks
Shemaf debt (~$800M) restructuring unconfirmed; copper target cut to 5,850t; Suria sulphuric acid and DRC diesel costs; Q2 margin dip.
Last quarter's promises, checked
Partly delivered
- FY27 capex ~₹8,500Cr → H1 ₹6,052Cr, FY27 now ~₹13,000Cr (= PARTIAL)
- FY27 iron ore sales >26Mt → H1 production 10Mt, +35% (= PARTIAL)
- Margins sustain (Q1 39.2%) → Q2 37.22% (= PARTIAL)
Missed
- Steel plant commission Mar-27 → delayed one quarter (= MISS)
- Shemaf debt fix next qtr, 40-50% cut → still unconfirmed, ~$800M (= MISS)
- Copper JV ops Q1 FY28, FY27 8,000t → FY27 cut to 5,850t (= MISS)
Earnings Call Transcript filed with NSE, NSE: LLOYDSME. Summary written with AI assistance from the document.
Lloyds Metals & Energy Ltd: key numbers
- Share price
- ₹1,798.80
- Market cap
- ₹1,01,281 Cr
- Revenue (annual)
- ₹17,113 Cr
- Net profit (annual)
- ₹3,681 Cr
- P/E (TTM)
- 19.3×Sector 16.7×
- Promoter holding
- 61.61%-0.02% QoQ
- FII holding
- 1.93%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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