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Lloyds Engineering Works Q2 FY27 results: net profit up 6.3% to ₹57.77 crore, revenue up 87.4%
Lloyds Engineering Works Limited reported consolidated revenue of ₹593.55 crore in Q2 FY27, up 87.4% from Q2 FY26, while EBITDA rose to ₹65.51 crore and net profit increased to ₹57.77 crore. The EBITDA margin fell to 11.0% from 15.4%, and profit declined from the previous quarter despite higher revenue.
Key points
- Consolidated Q2 FY27 revenue was ₹593.55 crore, up 87.4% from Q2 FY26 and 12.6% from Q1 FY27.
- EBITDA was ₹65.51 crore, up 34.7% year on year but down 1.0% from Q1 FY27; the margin was 11.0% against 15.4%.
- Net profit was ₹57.77 crore, up 6.3% from Q2 FY26 and down 15.3% from Q1 FY27; basic EPS was ₹0.38.
- For H1 FY27, revenue was ₹1,120.7 crore, up 110.0% from H1 FY26, and net profit was ₹126.0 crore, up 49.3%.
- The company proposed to invest ₹100 crore in subsidiary SISCOL through a preferential issue.
How did Lloyds Engineering Works perform in Q2 FY27?
Lloyds Engineering Works reported consolidated revenue of ₹593.55 crore for Q2 FY27, compared with ₹316.66 crore in Q2 FY26 and ₹527.15 crore in Q1 FY27. Revenue was up 87.4% year on year and 12.6% from the previous quarter. Total income was ₹607.57 crore, compared with ₹324.85 crore a year earlier and ₹540.23 crore in the previous quarter.
Consolidated EBITDA was ₹65.51 crore in Q2 FY27, against ₹48.63 crore in Q2 FY26 and ₹66.15 crore in Q1 FY27. The EBITDA margin fell to 11.0% from 15.4% a year earlier and 12.5% in the previous quarter. PBT was ₹57.89 crore, while net profit was ₹57.77 crore and basic EPS was ₹0.38, compared with ₹54.35 crore and ₹0.41 in Q2 FY26.
Against Q1 FY27, PBT fell to ₹57.89 crore from ₹68.99 crore and net profit fell to ₹57.77 crore from ₹68.23 crore. Basic EPS declined from ₹0.47 to ₹0.38. On the standalone basis, the quarter’s revenue was ₹362.3 crore and profit after tax was ₹43.81 crore, compared with ₹33.19 crore of profit after tax in the year-ago period.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 593.55 | 527.15 | 316.66 | +87.4% | +12.6% |
| Other income | 14.02 | 13.08 | 8.19 | +71.2% | +7.2% |
| Total expenses | 549.68 | 471.24 | 277.69 | +97.9% | +16.6% |
| EBITDA | 65.51 | 66.15 | 48.63 | +34.7% | −1.0% |
| EBITDA margin | 11.0% | 12.5% | 15.4% | −4.4 pp | −1.5 pp |
| Profit before tax | 57.89 | 68.99 | 47.16 | +22.8% | −16.1% |
| Tax | 14.07 | 13.89 | 3.58 | +293.0% | +1.3% |
| Net profit | 57.77 | 68.23 | 54.35 | +6.3% | −15.3% |
| EPS (₹) | 0.38 | 0.47 | 0.41 | −7.3% | −19.1% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Lloyds Engineering Works' costs and profit?
Total expenses rose to ₹549.68 crore in Q2 FY27 from ₹277.69 crore in Q2 FY26. The increase included cost of materials at ₹185.69 crore, up ₹40.14 crore, employee cost at ₹43.09 crore, up ₹21.19 crore, finance costs at ₹9.66 crore, up ₹5.75 crore, depreciation at ₹11.98 crore, up ₹6.23 crore, and other expenses at ₹263.36 crore, up ₹189.39 crore.
Other income increased to ₹14.02 crore from ₹8.19 crore in Q2 FY26, while the company reported no exceptional item. Tax expense was ₹14.07 crore, up ₹10.49 crore from ₹3.58 crore a year earlier. PBT rose to ₹57.89 crore from ₹47.16 crore, while net profit increased to ₹57.77 crore from ₹54.35 crore.
The figures show higher revenue and other income alongside higher expenses and tax. The filing did not state reasons for the increase in other expenses or tax. Against Q1 FY27, total expenses rose to ₹549.68 crore from ₹471.24 crore, while other income increased to ₹14.02 crore from ₹13.08 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 185.69 | 145.55 | +40.14 | +27.6% |
| Employee cost | 43.09 | 21.90 | +21.19 | +96.8% |
| Finance costs | 9.66 | 3.91 | +5.75 | +147.1% |
| Depreciation | 11.98 | 5.75 | +6.23 | +108.3% |
| Other expenses | 263.36 | 73.97 | +189.39 | +256.0% |
| Total expenses | 549.68 | 277.69 | +271.99 | +97.9% |
| Other income | 14.02 | 8.19 | +5.83 | +71.2% |
| Tax | 14.07 | 3.58 | +10.49 | +293.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹1,120.7 crore, compared with ₹533.67 crore in H1 FY26, while total income was ₹1,147.8 crore against ₹550.66 crore. PBT rose to ₹126.88 crore from ₹76.89 crore, and net profit increased to ₹126.0 crore from ₹84.38 crore. Basic EPS was ₹0.85, compared with ₹0.67.
The company’s filing reported that consolidated EBITDA for H1 FY27 was ₹158.76 crore, compared with ₹92.13 crore in H1 FY26. It also reported an order position increase of approximately 190.43% as on October 1, 2026, with the consolidated order book at ₹4,591.67 crore, compared with ₹1,580.99 crore a year earlier.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,121 | 533.67 | +110.0% |
| Profit before tax | 126.88 | 76.89 | +65.0% |
| Net profit | 126 | 84.38 | +49.3% |
| EPS (₹) | 0.85 | 0.67 | +26.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹4,445.73 crore, compared with ₹2,369.08 crore at 31 March 2026. Total equity was ₹3,005.18 crore against ₹1,683.31 crore, while borrowings were ₹336.35 crore against ₹33.83 crore. Cash fell to ₹162.87 crore from ₹336.39 crore.
Inventories were ₹466.74 crore at 30 September 2026, compared with ₹432.75 crore at 31 March 2026. Trade receivables were ₹424.42 crore against ₹239.91 crore, and trade payables were ₹434.24 crore against ₹192.29 crore. For H1 FY27, operating cash flow was negative ₹44.54 crore, compared with negative ₹377.51 crore in H1 FY26; investing cash flow was negative ₹71.79 crore against negative ₹136.7 crore, and financing cash flow was positive ₹165.94 crore against positive ₹509.81 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,446 | 2,369 |
| Total equity | 3,005 | 1,683 |
| Borrowings | 336.35 | 33.83 |
| Cash and equivalents | 162.87 | 336.39 |
| Inventories | 466.74 | 432.75 |
| Trade receivables | 424.42 | 239.91 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −44.54 | −377.51 |
| Cash from investing | −71.79 | −136.70 |
| Cash from financing | 165.94 | 509.81 |
| Capital expenditure | 99.77 | 55.85 |
Source: Company's results filing (XBRL).
How has Lloyds Engineering Works done over the last 8 quarters?
Revenue rose year on year in each of the last four quarters. Across the reported quarters, revenue was highest at ₹593.55 crore in Q2 FY27 and lowest at ₹217.01 crore in Q1 FY26. Revenue increased from ₹495.02 crore in Q4 FY26 to ₹527.15 crore in Q1 FY27 and then ₹593.55 crore in Q2 FY27.
Net profit peaked at ₹68.23 crore in Q1 FY27 and was lowest at ₹19.55 crore in Q4 FY25. It rose from ₹46.49 crore in Q4 FY26 to ₹68.23 crore in Q1 FY27 before falling to ₹57.77 crore in Q2 FY27. The EBITDA margin was highest at 19.4% in Q3 FY26 and lowest at 11.0% in Q2 FY27.
Which businesses drove the quarter?
Engineering reported revenue of ₹583.55 crore in Q2 FY27, up 88.6% from ₹309.39 crore in Q2 FY26. Segment EBIT was ₹70.1 crore, compared with ₹45.64 crore a year earlier, with an EBIT margin of 12.0%.
Electrical reported revenue of ₹50.72 crore, up 34.1% from ₹37.82 crore in Q2 FY26. Segment EBIT was a loss of ₹4.21 crore, compared with EBIT of ₹0.41 crore in the year-ago quarter, and the EBIT margin was negative 8.3%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Engineering | 583.55 | +88.6% | 70.10 | 12.0% |
| Electrical | 50.72 | +34.1% | −4.21 | -8.3% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
Alongside the results, Lloyds Engineering Works said it proposed to invest ₹100 crore in Steel Infra Solutions Company Limited, or SISCOL, a subsidiary. The investment would be made through subscription to up to 3,33,33,334 equity shares at an issue price of ₹30 per share on a preferential basis through private placement.
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 on 2 November 2026. It also took on record monitoring agency reports for the quarter regarding utilisation of funds raised through the Rights Issue and a preferential issue. The company said the SISCOL investment would be made in two equal tranches, within 18 months, to support its liquidity position and smooth operations.
How did Lloyds Engineering Works shares react?
The filing appeared after market hours. The stock rose 0.7% after five minutes and 0.2% after 15 minutes, then fell 1.7% after 30 minutes. On the reaction day, it closed 6.5% below the previous close; by the next day’s close, it was down 2.0% from that pre-results close.
The Industrial Products sector median move was 0.1% on the reaction day and 1.6% by the next day’s close. Lloyds Engineering Works therefore underperformed the sector by 6.6 percentage points on the reaction day and 3.7 percentage points by the next day’s close. Earlier reaction-day moves were 8.6% on 6 August 2026, 2.6% on 5 May 2026 and 2.5% on 4 February 2026.
| After the filing | Stock | Industrial Products median |
|---|---|---|
| 5 minutes | +0.7% | |
| 15 minutes | +0.2% | |
| 30 minutes | −1.7% | |
| Reaction day | −6.5% | +0.1% |
| Next day | −2.0% | +1.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 6 August 2026 | +8.6% |
| 5 May 2026 | +2.6% |
| 4 February 2026 | +2.5% |
| 7 November 2025 | −1.3% |
| 29 July 2025 | −3.7% |
| 13 February 2025 | +0.9% |
| 19 October 2024 | +0.1% |
| 30 July 2024 | −7.0% |
Source: MarketPing price-reaction measurement.
How did other Industrial Products companies do?
Thirty-five Industrial Products companies had filed for the quarter as of 4 November 2026. Their median revenue growth was 33.8%, compared with Lloyds Engineering Works’ consolidated revenue growth of 87.4% in Q2 FY27. Among the peers, 32 grew slower than the company and 3 grew faster.
Twenty-one peers reported higher profit, out of 29 companies for which profit was compared.
| Lloyds Engineering Works revenue growth (YoY) | +87.4% |
|---|---|
| Median of 35 other Industrial Products companies | +33.8% |
| Companies with slower revenue growth than Lloyds Engineering Works | 32 of 35 |
| Companies with faster revenue growth than Lloyds Engineering Works | 3 of 35 |
| Companies whose net profit rose | 21 of 29 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Lloyds Engineering Works' revenue in Q2 FY27?
Revenue from operations was ₹593.55 crore, up 87.4% from ₹316.66 crore in Q2 FY26 (consolidated).
Did Lloyds Engineering Works make a profit in Q2 FY27?
Yes. Net profit was ₹57.77 crore, against a net profit of ₹54.35 crore in Q2 FY26.
What was Lloyds Engineering Works' EPS in Q2 FY27?
Basic earnings per share were ₹0.38, against ₹0.41 in Q2 FY26.
How did Lloyds Engineering Works shares react to the Q2 FY27 results?
On the reaction day the stock moved −6.5% from the previous close; the median Industrial Products stock moved +0.1%.
When did Lloyds Engineering Works announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 2 November 2026) · PDF
- Results For The Quarter And Half Year Ended 30 September 2026 (BSE, 2 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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