Approval to accquire equity stake in entity in Papua New Guinea by Lloyds Global Resources FZCO, wholly owned subsidiary of the Company
LLOYDSME · price
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Lloyds Metals and Energy held its Board Meeting on 5th May 2026, approving multiple items. The company reported strong FY2026 standalone results with revenue of Rs 13,837.80 Cr (up from Rs 6,775.21 Cr YoY) and net profit of Rs 3,194.32 Cr (up from Rs 1,450.25 Cr). The Board declared a final dividend of 100% (Rs 1 per share). Key development: Lloyds Global Resources FZCO, the Dubai-based wholly owned subsidiary, has been approved to acquire equity stake in Lloyds Panguna Metals and Energy Limited (LPMEL) in Papua New Guinea, which will become a step-down subsidiary. LPMEL will engage with Bougainville Copper Limited for a long-term mining cooperation agreement for the Panguna Mine in the Autonomous Region of Bougainville. The Board also approved NCD issuances of up to Rs 700 Crore (continuation) and Rs 2,500 Crore (new enabling approval) on private placement basis.
The PNG acquisition marks Lloyds' entry into a major international mining project, potentially expanding its copper/mining portfolio. Strong financial growth and dividend declaration are positive signals for shareholders, while the large NCD approvals indicate significant capital-raising plans for expansion.