LLOYDS ENGINEERING WORKS LIMITED has informed the Exchange regarding Board meeting held on May 20, 2025.
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Lloyds Engineering Works Limited announced that its Board, at a meeting held on May 20, 2025, approved acquiring a 76% stake (21,85,000 equity shares) in Metalfab Hightech Private Limited at ₹130 per share, for an aggregate cash consideration of ₹28.40 crores. Metalfab, based in Nagpur, is a heavy fabrication company with 24,000 MT per annum capacity and a 16-acre facility, supplying to NTPC, BHEL, L&T, and others. Metalfab's turnover grew sharply from ₹35.4 crores in FY23 to ₹159.1 crores in FY25. The deal is expected to close on or before May 31, 2025, after which Metalfab will become a material subsidiary of Lloyds Engineering. The acquisition is not a related-party transaction and is part of Lloyds' broader expansion in heavy engineering.
This acquisition significantly expands Lloyds Engineering's heavy fabrication capacity and revenue base, given Metalfab's strong growth trajectory. Shareholders may view this as a positive capacity-building move, though the stock could see short-term reaction to the cash outflow of ₹28.4 crores and integration risks.