Summary - Lloyds Engineering Works approved a rights issue of 30.85 crore shares aggregating to ₹987 crore at ₹32 each. The record date is April 28, 2025. Q3FY25 showed strong revenue and profit growth. Stock is down YTD but gained 13.43% over 12 months.
On Thursday, April 17, the share price of Lloyds Engineering Works jumped around 2.41% on an intraday basis (as of 02:15 pm), marking a high of ₹62.99 on the NSE, recording 4 day streak of closing in green. Lloyds Engineering Works Ltd, formerly known as Lloyds Steels Industries Ltd, has announced a rights issue of shares.
The Board of Directors of the company held a meeting on April 17, 2025, and approved a Rights Issue and fixed April 28, 2025, as the Record Date for the same.
The rights issue involves up to 30,85,17,476 equity shares aggregating up to ₹987.25 Crore at a price of ₹32 per share, which includes a premium of ₹31. Shareholders are required to pay ₹16 per share at the time of application, while the remaining ₹16 will be collected in not more than two additional calls to be made on or before March 31, 2026.
The rights issue will open on May 15, 2025, and close on May 30, 2025. Eligible shareholders will receive 9 rights shares for every 34 fully paid-up equity shares held as of the record date.
Before the rights issue, the company had 116.55 crore outstanding equity shares, which will increase to 147.40 crore shares after full subscription and payment.
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.
In Q3FY25, Lloyds Engineering Works Ltd reported a 14.04% increase in revenue on a year-on-year basis. This growth was mainly due to better project execution, which helped boost overall sales. The company's operating profit (EBITDA) for Q3FY25 rose by 32.48% year-on-year. The net profit (PAT) also saw a healthy rise of 24.37% year-on-year. The better economies of scale, led by productivity improvement and better margin product execution, led to such a robust increase. As of December 31st, 2024, the company has a strong order book of ₹1,278.13 crore.
On a year-to-date (YTD) basis, Lloyds Engineering Works’ share price is down by 19.87%, and in the past 12 months, the stock surged by 13.43%.
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