LLOYDS ENGINEERING WORKS LIMITED has informed the Exchange regarding 'General Announcement'.
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On 29th December 2025, the Board of Lloyds Engineering Works Limited (LEWL) approved the merger of three group entities into itself: Lloyds Infrastructure & Construction Ltd (LICL, an associate), Metalfab Hightech Pvt Ltd (subsidiary), and Techno Industries Pvt Ltd (subsidiary), effective from 1st April 2025. The combined entity will have an order book of approximately ₹6,150 crore (as of H1FY26), with combined H1FY26 total income of ₹1,484 crore, EBITDA of ₹242 crore, and profit after tax of ₹161 crore. To fund the merger, LEWL will issue roughly 38.1 crore new shares, expanding total equity to 185.52 crore shares from the earlier 147.42 crore. Share exchange ratios are set at 1,798 LEWL shares per 1,500 LICL shares and 94 LEWL shares per 5 Metalfab shares. Promoter B. Prabhakaran and family will hold 21.03% in the expanded entity. The deal still needs approvals from the Competition Commission of India, the NCLT, and stock exchanges.
This is a major structural consolidation that transforms LEWL from a standalone equipment maker into a fully integrated 'design-to-execution' engineering and infrastructure player, combining manufacturing (LEWL, Metalfab, Techno) with EPC execution (LICL) and design (Lloyds Consulting Engineers). For shareholders, this could expand revenue scale and long-term visibility through the ~₹6,150 crore order book, but it also means significant share dilution (around 26% expansion in equity base) and the merger is still subject to regulatory clearances before it is finalised.