Lloyds Metals & Energy Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Lloyds Metals & Energy Ltd trades at ₹1,866, in a confirmed uptrend and 14 weeks into that stage. That is +24.4% against its own 200-day average. It sits at 100% of a 52-week range of ₹1,074 to ₹1,866. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is in a confirmed uptrend — week 14 of stage 2, confirmed. At ₹1,866 it trades +24.4% versus its 200-day average and sits at 100% of its 52-week range (₹1,074–₹1,866).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +18,564% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 57th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Lloyds Metals & Energy Ltd trades at 29.4× P/E, mid-range by its own standards (57th percentile). Its long-run median P/E is 27.6×, measured across 5.7 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 29.4× is mid-range by its own standards (57th percentile), against a long-run median of 27.6× measured over 5.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +135.2% against a +26.8% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +103.4%/yr price move, ~+180.5%/yr came from earnings growth and ~−77.1 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 7.2% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Lloyds Metals & Energy Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 27.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

67.3/100 — rank 1 of 6 in Mining/Minerals - Iron Ore · 72% evidence confidence

Lloyds Metals & Energy Ltd scores 67.3 out of 100 against the 6 companies it is compared with in Mining/Minerals - Iron Ore, ranking 1. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 23.4 + 15.4 + 8.5 + 20 = 67.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Lloyds Metals & Energy Ltd reported ₹6,020 Cr of revenue in the Mar 26 quarter, +404.6% year on year. That is the 3rd straight quarter of year-on-year growth. Over 16 years it has compounded at 23.7% a year. The last full year, FY26, came in at ₹17,113 Cr. The last four reported quarters add to ₹17,113 Cr.

Lloyds Metals & Energy Ltd reported ₹6,020 Cr of revenue in the Mar 26 quarter, +404.6% year on year. That is the 3rd straight quarter of year-on-year growth. Over 16 years it has compounded at 23.7% a year. The last full year, FY26, came in at ₹17,113 Cr. The last four reported quarters add to ₹17,113 Cr.

FY26 revenue came in at ₹17,113 Cr (+154.6% on the year), capping 16 years at 23.7% compound. The latest quarter (Mar 26) printed ₹6,020 Cr, +404.6% year on year — the 3rd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +189.8% growth against the decade's 23.7% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +154.6% over the last 4 quarters against +62.0%/yr over the last 8 — accelerating; TTM profit +164.3% vs +75.5%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 42.0% this quarter (+20.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Lloyds Metals & Energy Ltd's operating margin is 42.0% in the Mar 26 quarter, +20.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 2.0% to 36.0%.

Lloyds Metals & Energy Ltd's operating margin is 42.0% in the Mar 26 quarter, +20.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 2.0% to 36.0%.

The latest quarter's operating margin is 42.0%, +20.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 2.0%–36.0%, and FY26's 36.0% is the top of that band — a record year.

Why the margin moved: operating margin went +20.4 pp year on year while gross margin went +6.7 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

→ Margins held — did that reach the bottom line? Next: profit +657.4% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Lloyds Metals & Energy Ltd earned ₹1,530 Cr of net profit in the Mar 26 quarter, +657.4% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹3,829 Cr. The 16-year compound rate is 39.8%. That is 25.4% of the quarter's revenue. The same quarter a year earlier earned ₹202 Cr.

Lloyds Metals & Energy Ltd earned ₹1,530 Cr of net profit in the Mar 26 quarter, +657.4% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹3,829 Cr. The 16-year compound rate is 39.8%. That is 25.4% of the quarter's revenue. The same quarter a year earlier earned ₹202 Cr.

Mar 26 profit was ₹1,530 Cr, +657.4% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹3,829 Cr (+163.2%), and the 16-year compound rate is 39.8%.

Why profit moved: revenue contributed +404.6% and the margin +20.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +235.3% vs revenue +189.8%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 89% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 89% of Lloyds Metals & Energy Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹2,921 Cr of operating cash against ₹3,829 Cr of profit. After ₹21,764 Cr of capital spending, ₹−18,843 Cr was left as free cash.

FY26: operating cash of ₹2,921 Cr against reported profit of ₹3,829 Cr, leaving free cash of ₹−18,843 Cr after ₹21,764 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 89% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 89%: the cash cycle tightened 124 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 36.7× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹27,022 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Lloyds Metals & Energy Ltd's cash conversion cycle runs 31 days in FY26, down from 155 days in FY21. Capital spending ran ₹27,022 Cr over the last 3 years. At FY26 sales of ₹17,113 Cr each day of that cycle holds about ₹46.9 Cr, so roughly ₹1,453 Cr sits inside the business at any moment.

FY26: debtors at 32 days, inventory at 534 days — roughly 17.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 31 days, tighter than FY21's 155.

The full loop: cash goes out to suppliers and production on day 0; stock waits 534 days to sell; customers pay about 32 days after that; and suppliers themselves are paid at 535 days — netting out to the 31-day cycle.

In money terms: at FY26 sales of ₹17,113 Cr, each day of the cycle holds about ₹46.9 Cr — so the 31-day loop keeps roughly ₹1,453 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹27,022 Cr over the last 3 fiscal years against ₹737 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹13,946 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 27%.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Lloyds Metals & Energy Ltd earns a ROCE of 27% in FY26. That is up from a trough of 6% in FY21. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 22.4% net margin on 0.41× asset turns.

FY26 ROCE is 27%, recovered from a FY21 trough of 6% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 22.4% net margin × 0.41× asset turns × 3.00× balance-sheet leverage ≈ 27.6% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 7.2% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 1.49.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Lloyds Metals & Energy Ltd carries ₹20,716 Cr of borrowings against ₹13,871 Cr of equity in FY26, a debt-to-equity of 1.49. Operating profit covers the interest bill 12×. Over 5 years borrowings went from ₹155 Cr to ₹20,716 Cr. Capital spending ran ₹27,022 Cr across the last 3 of those years.

FY26: borrowings of ₹20,716 Cr against equity of ₹13,871 Cr — a debt-to-equity of 1.49. Operating profit covers the interest bill 12×. Over 5 years borrowings went from ₹155 Cr to ₹20,716 Cr while capital spending ran ₹27,022 Cr in just the last 3 — part of the build-out is riding on borrowed money.

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 7.2% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Who owns this, and are they adding or leaving? Next: Promoters cut 1.8 points over 8 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 1.8 points of Lloyds Metals & Energy Ltd over 8 quarters, the biggest move on the register. That takes promoters to 61.6% of the company. Domestic institutions moved +0.9 points over the same window, to 2.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −1.8 points over 8 quarters to 61.6%; Domestic institutions: +0.9 points over 8 quarters to 2.2%; Foreign institutions: −0.1 points over 8 quarters to 1.9%.

🚨 Why the register moved: promoters drove it (−1.8 points), absorbed on the other side by domestic institutions (+0.9 points) — distribution into the market’s bid.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Lloyds Metals & Energy Ltd: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

The safety line in one sentence: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute.

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