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Lloyds Enterprises Q2 FY27 results: net profit down 5.8% to ₹58.23 crore, revenue up 70.7%
Lloyds Enterprises Limited reported Q2 FY27 consolidated revenue of ₹693.91 crore for the July–September 2026 quarter, up 70.7% from ₹406.57 crore a year ago, while net profit fell 5.8% to ₹58.23 crore. EBITDA rose to ₹50.22 crore and the EBITDA margin widened 1.4 percentage points to 7.2%, while profit attributable to owners was ₹13.70 crore against a loss of ₹590.93 crore in the year-ago quarter.
Key points
- Consolidated revenue for Q2 FY27 was ₹693.91 crore, up 70.7% from ₹406.57 crore in Q2 FY26 and 23.2% from ₹563.03 crore in Q1 FY27.
- EBITDA was ₹50.22 crore in Q2 FY27, up 111.8% from ₹23.71 crore a year ago, with the margin at 7.2% against 5.8%.
- Net profit was ₹58.23 crore, down 5.8% from ₹61.84 crore in Q2 FY26 and down 47.1% from ₹109.98 crore in Q1 FY27, while basic EPS was ₹0.38.
- For H1 FY27, revenue rose to ₹1,256.94 crore from ₹737.47 crore, while profit after tax fell to ₹168.21 crore from ₹310.51 crore.
- The auditors drew attention to the SEBI settlement, noting that a total settlement amount of 74.16 Crs. was remitted and that ₹4.16 Crs. was discharged by the company and debited to the Profit and Loss statement.
How did Lloyds Enterprises perform in Q2 FY27?
Consolidated revenue for the July–September 2026 quarter was ₹693.91 crore, up 70.7% from ₹406.57 crore in Q2 FY26 and up 23.2% from ₹563.03 crore in Q1 FY27. Total income was ₹737.76 crore against ₹446.66 crore a year earlier and ₹605.44 crore in the previous quarter.
EBITDA was ₹50.22 crore, up 111.8% from ₹23.71 crore a year ago, and the EBITDA margin rose 1.4 percentage points to 7.2%. Against Q1 FY27, EBITDA fell 43.2% from ₹88.34 crore and the margin narrowed 8.5 percentage points from 15.7%.
Profit before tax was ₹59.63 crore, up 11.4% from ₹53.53 crore a year earlier but down 47.0% from ₹112.59 crore in Q1 FY27. Net profit was ₹58.23 crore, down 5.8% from ₹61.84 crore and down 47.1% from ₹109.98 crore, with basic EPS of ₹0.38 against ₹0.73 in the previous quarter. On a standalone basis, revenue was ₹100.36 crore and profit after tax was ₹5.32 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 693.91 | 563.03 | 406.57 | +70.7% | +23.2% |
| Other income | 43.85 | 42.41 | 40.09 | +9.4% | +3.4% |
| Total expenses | 678.13 | 492.85 | 393.13 | +72.5% | +37.6% |
| EBITDA | 50.22 | 88.34 | 23.71 | +111.8% | −43.2% |
| EBITDA margin | 7.2% | 15.7% | 5.8% | +1.4 pp | −8.5 pp |
| Profit before tax | 59.63 | 112.59 | 53.53 | +11.4% | −47.0% |
| Tax | 16.07 | 16.01 | 2.15 | +647.4% | +0.4% |
| Net profit | 58.23 | 109.98 | 61.84 | −5.8% | −47.1% |
| EPS (₹) | 0.38 | 0.73 | −47.9% |
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 Enterprises' costs and profit?
Total expenses rose to ₹678.13 crore from ₹393.13 crore in Q2 FY26, an increase of ₹285 crore. Cost of materials was the largest rise at ₹336.67 crore against ₹145.52 crore, up ₹191.15 crore, while employee cost rose ₹25.11 crore to ₹52.58 crore and finance costs rose ₹17.91 crore to ₹22.24 crore.
Depreciation was ₹12.20 crore, up ₹6.26 crore from ₹5.94 crore, and other expenses were ₹120.74 crore against ₹94.59 crore, up ₹26.15 crore. Other income rose ₹3.76 crore to ₹43.85 crore. There was no exceptional item in the quarter.
Tax expense rose to ₹16.07 crore from ₹2.15 crore, an increase of ₹13.92 crore, which was the main difference between the rise in profit before tax and the fall in net profit. The profit margin fell 6.8 percentage points to 8.4% from 15.2%. The filing did not state reasons for the movement in the individual cost lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 336.67 | 145.52 | +191.15 | +131.4% |
| Employee cost | 52.58 | 27.47 | +25.11 | +91.4% |
| Finance costs | 22.24 | 4.33 | +17.91 | +413.6% |
| Depreciation | 12.20 | 5.94 | +6.26 | +105.4% |
| Other expenses | 120.74 | 94.59 | +26.15 | +27.6% |
| Total expenses | 678.13 | 393.13 | +285 | +72.5% |
| Other income | 43.85 | 40.09 | +3.76 | +9.4% |
| Tax | 16.07 | 2.15 | +13.92 | +647.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹1,256.94 crore against ₹737.47 crore in H1 FY26, an increase of ₹519.47 crore or 70.4%. Total income was ₹1,343.2 crore, up ₹283.53 crore or 26.8% from ₹1,059.67 crore.
Profit before tax fell to ₹172.22 crore from ₹341.07 crore in H1 FY26, down ₹168.85 crore or 49.5%. Profit after tax was ₹168.21 crore against ₹310.51 crore, down ₹142.3 crore or 45.8%, and EPS was ₹1.11 against ₹2.41 in the year-ago half.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,257 | 737.47 | +70.4% |
| Profit before tax | 172.22 | 341.07 | −49.5% |
| Net profit | 168.21 | 310.51 | −45.8% |
| EPS (₹) | 1.11 | 2.41 | −53.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹11,004.01 crore as on 30 September 2026, against ₹7,180.18 crore at 31 March 2026. Total equity was ₹7,891.99 crore compared with ₹5,432.73 crore at the previous balance sheet date.
Borrowings rose to ₹1,061.3 crore from ₹723.37 crore, while cash fell to ₹170.65 crore from ₹341.6 crore. Inventories were ₹620.38 crore against ₹561.7 crore, trade receivables ₹425.74 crore against ₹269.09 crore, and trade payables ₹435.49 crore against ₹221.31 crore.
In the first half, net cash from operating activities was negative ₹69.39 crore, against negative ₹279.92 crore in H1 FY26. Investing cash flow was negative ₹456.77 crore against negative ₹394.01 crore, financing cash flow was ₹569.7 crore against ₹923.79 crore, and capital expenditure was ₹141.52 crore against ₹55.88 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 11,004 | 7,180 |
| Total equity | 7,892 | 5,433 |
| Borrowings | 1,061 | 723.37 |
| Cash and equivalents | 170.65 | 341.60 |
| Inventories | 620.38 | 561.70 |
| Trade receivables | 425.74 | 269.09 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −69.39 | −279.92 |
| Cash from investing | −456.77 | −394.01 |
| Cash from financing | 569.70 | 923.79 |
| Capital expenditure | 141.52 | 55.88 |
Source: Company's results filing (XBRL).
How has Lloyds Enterprises done over the last 8 quarters?
Revenue has risen year on year in each of the last seven quarters, reaching ₹693.91 crore in Q2 FY27 after ₹563.03 crore in Q1 FY27. The lowest quarterly revenue in that series was ₹290.3 crore in Q3 FY25 and the highest was ₹719.64 crore in Q4 FY26, which Q2 FY27 did not exceed.
Net profit in the same series peaked at ₹248.67 crore in Q1 FY26 and bottomed at ₹24.56 crore in Q4 FY25. Q2 FY27 profit of ₹58.23 crore was below the ₹68.52 crore recorded in Q4 FY26 and the ₹109.98 crore of Q1 FY27.
The EBITDA margin reached 15.7% in Q1 FY27, the highest in the series, and its lowest point was 5.1% in Q4 FY25. It eased to 7.2% in Q2 FY27 from 15.7% in the previous quarter and was above the 5.8% of Q2 FY26.
Which businesses drove the quarter?
The Engineering segment reported revenue of ₹583.55 crore and EBIT of ₹70.1 crore for the quarter, with an EBIT margin of 12.0%. It was the largest segment by both revenue and EBIT.
Steel reported revenue of ₹110.11 crore and EBIT of ₹5.71 crore, with an EBIT margin of 5.2%. Electrical reported revenue of ₹50.72 crore and an EBIT loss of ₹4.21 crore, with an EBIT margin of -8.3%.
Real Estate reported revenue of ₹20.08 crore and EBIT of ₹8.63 crore, with an EBIT margin of 43.0%. The filing did not provide year-ago revenue or EBIT for the segments, so no growth comparison could be made.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Real Estate | 20.08 | 8.63 | 43.0% | |
| Steel | 110.11 | 5.71 | 5.2% | |
| Engineering | 583.55 | 70.10 | 12.0% | |
| Electrical | 50.72 | −4.21 | -8.3% |
Source: Company's results filing (XBRL segment data).
What did the auditors point out?
The auditors' report carries an Emphasis of Matter drawing attention to Note 6 of the financial results, which describes the conclusion of settlement proceedings with the Securities and Exchange Board of India via its Settlement Order dated 29 September 2026. The auditors stated that a total settlement amount of 74.16 Crs. was remitted to resolve the proceedings without admitting or denying the findings of fact or conclusions of law.
The auditors noted that the total amount of 4.16 Crs. has been discharged by the Company and debited to the Profit and Loss statement, and stated that their conclusion on the Statement is not modified in respect of this matter. The report also stated that nothing had come to their attention causing them to believe the statement contains any material misstatement.
How did Lloyds Enterprises shares react?
The filing was made in market hours, with the base price at ₹62.64 against a previous close of ₹63.31. The stock was down 1.8% after five minutes, down 1.5% after fifteen and thirty minutes, and closed the reaction day down 1.4% from the previous close.
The median move for the nine other stocks in the Trading - Metals industry was 0.0% over the same closes, leaving the stock 1.4 percentage points below the industry median on the reaction day. No movement data was given for the next day or five sessions later.
Earlier results days produced reaction-day moves of 2.0% on 11 August 2026, 1.6% on 8 May 2026, 1.7% on 9 February 2026, 2.7% on 11 November 2025 and 10.8% on 14 August 2025. The largest fall among the listed earlier results days was 10.8% on 14 August 2025.
| After the filing | Stock | Trading - Metals median |
|---|---|---|
| 5 minutes | −1.8% | |
| 15 minutes | −1.5% | |
| 30 minutes | −1.5% | |
| Reaction day | −1.4% | +0.0% |
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 |
|---|---|
| 11 August 2026 | −2.0% |
| 8 May 2026 | +1.6% |
| 9 February 2026 | −1.7% |
| 11 November 2025 | −2.7% |
| 14 August 2025 | −10.8% |
| 9 May 2025 | −0.4% |
| 13 February 2025 | −8.0% |
| 25 October 2024 | −5.3% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Lloyds Enterprises' revenue in Q2 FY27?
Revenue from operations was ₹693.91 crore, up 70.7% from ₹406.57 crore in Q2 FY26 (consolidated).
Did Lloyds Enterprises make a profit in Q2 FY27?
Yes. Net profit was ₹58.23 crore, against a net profit of ₹61.84 crore in Q2 FY26.
What was Lloyds Enterprises' EPS in Q2 FY27?
Basic earnings per share were ₹0.38.
How did Lloyds Enterprises shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.4% from the previous close; the median Trading - Metals stock moved +0.0%.
When did Lloyds Enterprises announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Unaudited Financial Results For The Quarter And Half Year Ended 30.09.2026 (BSE, 5 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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