Intimation of Appointment of Independent Directors Mr. Sujit Varma and Dr. Anita Shantaram.Change in designation of Mr. Shabbirhusein Khandwawala and Reclassification of Senior Management Personnel of the Company
LLOYDSME · price
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Lloyds Metals' board on 12 August 2025 approved its Q1 FY26 unaudited results, posting standalone revenue of about Rs 2,408 crore and profit after tax of Rs 634 crore, up sharply from Rs 558 crore a year earlier. The company also cleared a 49.99% stake buy in Thriveni Pellets Private Limited (TPPL) for Rs 200 crore cash plus a Rs 285.88 crore share-swap (about 19.57 lakh shares at Rs 1,460.50 each), and a 19.40% stake in Mandovi River Pellets for Rs 16.49 crore. It approved a public issue of non-convertible debentures up to Rs 2,500 crore in tranches, the incorporation of a wholly owned subsidiary in Dubai (DMCC) with around Rs 597 crore capital outlay, and the conversion of 31 lakh warrants held by non-promoters into equity shares. Two new independent directors (Mr. Sujit Varma and Dr. Anita Shantaram) were appointed for five-year terms, one existing independent director was re-designated as non-executive non-independent, and the senior management team was reclassified with two personnel ceasing to be part of SMP. An EGM has been called for 11 September 2025 to seek shareholder approval for the major items.
Shareholders should note heavy fundraising and expansion activity: up to Rs 2,500 crore of NCDs and a large share-swap for the TPPL acquisition will lead to equity dilution and higher debt, while the Dubai step and pellet acquisitions signal aggressive growth in iron-ore and steel value chain. Q1 earnings were strong, which may support the stock in the near term, but the multiple corporate actions needing EGM approval could keep the stock volatile.