# Lloyds Metals & Energy share price today (Lloyds Metals & Energy Ltd, NSE: LLOYDSME)

> Lloyds Metals & Energy share price today: ₹1,799.60 at the NSE close on 4 November 2026, up 36.6% in a year. Lloyds Metals & Energy (NSE: LLOYDSME) is worth ₹1,01,343 crore, trades at a P/E of 21.3 and has closed between ₹1,073.50 and ₹2,100.35 over the past 52 weeks. > Lloyds Metals & Energy Ltd's multiple is near its low because earnings grew even faster than a 20× rise in the share price over five years. The multiple is low because of growth, not neglect. Results are still improving, and its P/E is higher than only 27% of its own 6-year history. LLOYDSME · Mining/Minerals - Iron Ore · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/lloyds-metals-energy-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹1,799.60 (+36.6% in a year)
- P/E: 21.3× (lower than 73% of the last 6 years)
- Revenue (Jun 2026): ₹7,354 Cr (+208.5% on a year ago)
- Profit (Jun 2026): ₹1,734 Cr (+170.1% on a year ago)
- Operating margin: 38.0% (+5.0 points on a year ago)
- ROCE: 27%, FY26
- Profit that came in as cash: 89%, last 3 years

The main question: yearly earnings per share moved +135.2% while the share price moved +36.6%. ## What is the Lloyds Metals & Energy share price today? Lloyds Metals & Energy Ltd's share price was ₹1,799.60 at the close on 4 November 2026. It has been rising for 29 weeks. That is 6.8% above its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row. In the last 52 weeks it traded between ₹1,074 and ₹2,100, and at that close it sat 71% of the way up from that low. Over the last 11 years the share price moved +17,896% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Lloyds Metals & Energy this quarter? 2. Promoters cut their stake for 4 quarters in a row From 63.7% to 61.6% of the company by the September 2026 quarter. 3. Highest quarterly profit in 15 quarters Profit of ₹1,734 crore in the June 2026 quarter is the highest of the last 15 quarters. Why: Profit hit a record because the company sold more higher-value products like pellets and its pipeline cut transport costs, so more of each sale became profit. Next results: check whether the new pellet plant stays at full capacity, because it drove the jump in value-added sales. From the earnings call on 11 Aug 2026. ## What are Lloyds Metals & Energy's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Lloyds Metals & Energy reported revenue of ₹7,354 crore, up 208.5% from ₹2,384 crore a year earlier, and a profit of ₹1,734 crore, up 170.1% from ₹642 crore. ### Lloyds Metals & Energy results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹7,354 crore | ₹2,384 crore | +208.5% |
| Profit | ₹1,734 crore | ₹642 crore | +170.1% |
| Earnings per share | ₹30.67 | ₹12.26 | +150.2% |
| Operating margin | 38.0% | 33.0% | +5.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Lloyds Metals & Energy's management discussed these results on a call held on 11 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Lloyds Metals & Energy share price history? Lloyds Metals & Energy closed at ₹1,799.60 on 4 November 2026, up 36.6% from ₹1,317.80 a year earlier (7 November 2025) and up 1,918.6% over five years. Its highest weekly close since March 2016 was ₹2,100.35 on 7 August 2026. ### Lloyds Metals & Energy share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹1,824.15 | −1.3% |
| 1 month ago · 1 Oct 2026 | ₹1,778.10 | +1.2% |
| 6 months ago · 8 May 2026 | ₹1,735.25 | +3.7% |
| 1 year ago · 7 Nov 2025 | ₹1,317.80 | +36.6% |
| 3 years ago · 3 Nov 2023 | ₹530.25 | +239.4% |
| 5 years ago · 4 Nov 2021 | ₹89.15 | +1,918.6% |
| 10 years ago · 4 Nov 2016 | ₹16.31 | +10,933.7% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹10.00 | +17,896.0% |
| Highest weekly close since March 2016, also the 52-week high · 7 Aug 2026 | ₹2,100.35 | −14.3% |
| Lowest weekly close since March 2016 · 24 Apr 2020 | ₹4.39 | +40,893.2% |
| 52-week low (weekly close) · 1 Feb 2026 | ₹1,073.50 | +67.6% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Lloyds Metals & Energy? 4 Nov 2026: Lloyds Metals & Energy closed at ₹1,799.60, down 1.3% on the week and up 1.2% on the month. Our read, 22 Aug 2026: Lloyds Metals has converted captive iron ore into a pellets-DRI-steel platform that earned 38% operating margin in April to June 2026, but margins are at the top of their own 42-quarter band and a ₹15,000 crore capital spending overhang means free cash flow will be deeply negative for at least two more years. ### Earlier

- 11 Aug 2026: Lloyds Metals & Energy held its results call for April to June 2026. Management guided: Triveni FY27 operating margin 28-30% and Odisha production 34-35 million tons. - Results for April to June 2026: Revenue up 208.5% and profit up 170.1% on a year earlier. - 12 Jun 2026: ex-date for a dividend of ₹1 a share. ### Our read of the business

The company moved from a pure iron ore miner to an integrated materials platform, pellets now contribute 41% of standalone revenue and earn ₹5,803 operating profit per ton versus ₹1,930 per ton for raw ore. April to June 2026 standalone revenue grew 127% year-on-year, driven by the second pellet plant reaching full capacity in four months. April to June 2026: Best-ever standalone margin at 39.2% operating margin; consolidated revenue ₹7,354 crore on full pellet plant ramp and Triveni scale-up. (Our read after the April to June 2026 results, written 22 August 2026.)

## What dividend does Lloyds Metals & Energy pay? Lloyds Metals & Energy paid ₹1 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.06% at the ₹1,799.60 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 12 June 2026. ### Lloyds Metals & Energy dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 12 Jun 2026 | ₹1 | Dividend |
| 26 May 2025 | ₹1 | Dividend |
| 13 Aug 2024 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 2 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Lloyds Metals & Energy Ltd paid out 2% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Lloyds Metals & Energy management say on the latest results call? On the call for April to June 2026, held on 11 August 2026, Lloyds Metals & Energy's management guided: Triveni FY27 operating margin 28-30% and Odisha production 34-35 million tons. > “Captive ore, captive logistics, and a growing share of value-added products together mean that these are structural margins and not cyclical ones.”
> Rajesh Gupta, MD, on the call for April to June 2026

### What management guided

- FY27 India iron ore sales above 26 million tons including opening stock. - Logistics fleet addition of 200 vehicles; planned cost savings 30-40% and operating profit improvement from 32% to 40%. - BHQ beneficiation plant planned for March 2028; test-work recovery 38%, with eventual saleable output 16-17 million tons from 30 million-ton throughput. - India project capital spending around ₹11,000 crore over the next two years and ₹15,000-20,000 crore in year three; acquired-debt restructuring next quarter with nearly 40-50% reduction. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/1507/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 11 August 2026.)

## What is the future of Lloyds Metals & Energy? What is changing in the business? What is changing at Lloyds Metals & Energy, from the latest results and calls: pellet-led value addition, iron ore volume scale with environmental clearance headroom and triveni mdo subsidiary scale and profitability. - Pellet-led value addition. Pellets earned ₹5,803 operating profit per ton in April to June 2026 versus ₹1,930 per ton for raw iron ore, and now constitute 41% of standalone revenue up from 13% a year earlier. ⚠ estimate
- Iron ore volume scale with environmental clearance headroom. FY26 iron ore production reached 21.96 million tons and FY27 guidance is 26 million tons, with Surjagarh expanded to a 55 million ton environmental clearance limit providing runway to triple current output. ⚠ estimate
- Triveni MDO subsidiary scale and profitability. Triveni contributed ₹2,672 crore revenue and ₹658 crore operating profit in April to June 2026, up 145% year-on-year, as Gadchiroli capacity expanded from 10 to 55 million tons and new Odisha coal and iron ore contracts were added. ⚠ estimate
- Downstream integration via wire rod and BHQ beneficiation. A 1.2 million ton wire rod mill is planned for commissioning by March 2027, and BHQ beneficiation (30 million ton input, 16-17 million ton output) is planned for December 2027, both extend the value chain and structurally lift per-ton margins. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 22 August 2026.)

## What could change the Lloyds Metals & Energy story? What are the risks? Pellet operating profit per ton falls below ₹3,500 for two consecutive quarters due to Indian steel capacity additions absorbing domestic pellet demand or global pellet premiums compressing as Chinese and South Korean pellet plants increase output. ### Each change stops working if

- Pellet-led value addition: Pellet operating profit per ton falls below ₹3,500 for two consecutive quarters due to Indian steel capacity additions absorbing domestic pellet demand or global pellet premiums compressing as Chinese and South Korean pellet plants increase output. - Iron ore volume scale with environmental clearance headroom: Simandou iron ore project (Guinea) adds more than 40 million tons of seaborne supply by FY28, compressing Indian domestic iron ore benchmark prices below ₹4,500 per ton and eliminating the cost-advantage spread from which pellet economics are derived. - Triveni MDO subsidiary scale and profitability: The NTPC wage-claim litigation, currently sub judice with no provision, results in a material adverse ruling, or Triveni fails to add the 200-vehicle fleet and operating margin remain below 22% for FY27. - Downstream integration via wire rod and BHQ beneficiation: Wire rod commissioning is delayed beyond September 2027 (six months past guide), signaling a broader execution failure on the ₹15,000 crore capital spending programme at the same time as borrowings are at their peak. ### The main risks

- : Operating margin reached 42.28% in March 2026, the highest in the company's 42-quarter recorded history, and the cycle model explicitly flags a peak-margin setup; the question is not whether margins will moderate but by how much. ⚠ estimate
- Capital spending execution at unprecedented ₹15,000 crore scale with unresolved working capital analytics: Six projects running simultaneously, wire rod, BHQ, slurry pipeline phase 2, Surya copper ramp, KMF copper completion, Triveni Odisha, and the CFO acknowledged in May 2026 that consolidated working capital analytics are still being assimilated nine months after the Triveni deal. ✓ fact
- DRC geopolitical risk, both copper assets in Congo: Both the Surya cathode plant and the KMF Group acquisition are in the DRC Katanga belt; the US-DRC critical minerals accord provides a partial umbrella but resource nationalism and operational disruption risk remain. ✓ fact
- Steel and DRI market cycle headwinds at market launch: DRI operating profit per ton ranged from ₹3,140 (July to September 2025, cycle trough) to ₹7,999 (January to March 2026, recovered) to ₹6,273 (April to June 2026); wire rod market launch at 12.5% utilization in FY27 coincides with potential Chinese steel export overhang compressing secondary steel margins. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026.)

## What to watch in Lloyds Metals & Energy's next results? When Lloyds Metals & Energy reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: First long-product steel plant commissioning at the guided year-end date - verify start-up, ramp and internal ore consumption. - What to check (from the call)
- First long-product steel plant commissioning at the guided year-end date - verify start-up, ramp and internal ore consumption. - BHQ beneficiation commissioning and recovery at the guided schedule - check module ramp, product grade and saleable output. - Copper JV financial closure within the stated window - check funding mix, construction completion and operating start. - NTPC wage-claim progress over coming months - monitor court and negotiation developments and whether the no-provision stance changes. ## Which stock lists is Lloyds Metals & Energy on? Lloyds Metals & Energy is on 2 of our India lists: Small & mid cap stocks and Copper & metal stocks. - [Small & mid cap stocks Size rank in India: 105](https://www.sectoralpha.in/small-cap-stocks-india)
- [Copper & metal stocks Group on the list: Iron ore and other metal ores](https://www.sectoralpha.in/copper-stocks-india)

## Is Lloyds Metals & Energy profitable? Lloyds Metals & Energy Ltd earned ₹1,734 Cr of net profit in the Jun 2026 quarter, +170.1% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹3,829 Cr. Over 16 years profit has grown 39.8% a year on average. That is 23.6% of the quarter's revenue. The same quarter a year earlier earned ₹642 Cr. For the full year, FY26 profit was ₹3,829 Cr (+163.2% on the year before). Why profit moved: revenue changed +208.5% on a year earlier and the margin moved +5.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +274.0% and revenue +242.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q4. revenue ₹6,020 Cr and profit ₹1,530 Cr as reported. FY27-Q1. revenue ₹7,354 Cr and profit ₹1,734 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Lloyds Metals & Energy make, and is it growing? Lloyds Metals & Energy Ltd reported ₹7,354 Cr of revenue in the Jun 2026 quarter, +208.5% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 16 years it has grown 23.7% a year on average. The last full year, FY26, came in at ₹17,113 Cr. Why this happened. Iron ore production grew from approximately 10 million tons to 21.96 million tons in FY26, with Q4 FY26 dispatch alone of 9.1 million tons providing exit-velocity confirmation. The Surjagarh environmental clearance was raised from 10 to 55 million tons, the critical regulatory approval unlocking a 5x volume headroom. Triveni MDO operations added Gadchiroli, Lasarda-Pacheri, and Dalpahari contracts in Q1 FY27, with Odisha production planned at 34-35 million tons for FY27. Internal consumption is growing: 8.8 million tons is guided for use in pellets and DRI, reducing third-party sale dependency. The last four reported quarters add to ₹22,083 Cr. FY26 revenue was ₹17,113 Cr, +154.6% on the year before. Recent pace: the last four quarters grew +242.3% on average, against 23.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +230.2%, against +77.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +220.8%, against +87.7% a year (accelerating). FY26-Q4. revenue ₹6,020 Cr and profit ₹1,530 Cr as reported. FY27-Q1. revenue ₹7,354 Cr and profit ₹1,734 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Lloyds Metals & Energy keep? Lloyds Metals & Energy Ltd's operating margin was 38.0% in the Jun 2026 quarter, 5.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 2.0% and 36.0%. The latest quarter is above every full year in that period. Why this happened. The second pellet plant commissioned in May 2026 and reached full capacity within four months. Together both plants produced 1.7 million tons in Q1 FY27 with domestic sales at 75.3% and export at 24.7%, broadening to Kenya, South Korea, Indonesia, and China. Slurry pipeline savings of Rs500-550 per ton per the August 2026 call are structural, ore moves from mine to pellet plant without trucks, cutting the largest variable cost. The mix shift from commodity ore to pellets is the primary earnings engine: FY26 EBITDA per ton on pellets was Rs4,040 versus Rs1,930 for iron ore. Why the margin moved: operating margin changed +4.5 percentage points on the year while gross margin changed −8.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. FY26-Q4. revenue ₹6,020 Cr and profit ₹1,530 Cr as reported. FY27-Q1. revenue ₹7,354 Cr and profit ₹1,734 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Lloyds Metals & Energy's profit turning into cash? Over the last 3 years, 89% of Lloyds Metals & Energy Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,921 Cr of operating cash against ₹3,829 Cr of profit. After ₹21,764 Cr of spending on assets, free cash was −₹18,843 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 89% of profit came in as cash: the cash cycle got 124 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 36.7× depreciation over three years. The next section checks what that spending is building. ## Where does Lloyds Metals & Energy's cash go? Lloyds Metals & Energy Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 31 days in FY26, down from 155 days in FY21. It spent ₹27,022 Cr on assets over the last 3 years. Customers take 32 days to pay, and stock sits for 534 days on average. At FY26 sales of ₹17,113 Cr, each day of that cycle ties up about ₹46.9 Cr, so roughly ₹1,453 Cr is tied up in the business at any time. FY26: customers took 32 days to pay and stock sat for 534 days, about 17.6 months of sales sitting as stock, for a full cycle of 31 days, shorter than FY21's 155. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 534 days. Customers pay about 32 days after that. Suppliers are paid at 535 days. Together that makes the 31-day cycle. Spending on assets: ₹27,022 Cr over the last 3 years, against ₹737 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹13,946 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Lloyds Metals & Energy's P/E ratio, and how does it compare with its own history? Lloyds Metals & Energy Ltd's P/E is 21.3×, near the low end of its own history: it has been lower only 27% of the time. Its usual P/E (the middle reading) is 27.4×, over 6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹86.00. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +135.2% while the price moved +36.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +50.3% a year; about +55.6% a year came from earnings growth and about −5.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.2% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What growth does the Lloyds Metals & Energy share price assume? Worked out from its price on 25 August 2026, Lloyds Metals & Energy Ltd's share price assumed profit growth of about 11.7% a year. Over the past 16 years its profit actually grew 39.8% a year. Today its P/E is 21.3×, lower than 73% of its own last 6 years. This is a one-day reading, taken on 25 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Lloyds Metals & Energy business getting better or worse? Lloyds Metals & Energy Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE falling at 27.0%; each line tells part of the story. This is based on 8 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the Lloyds Metals & Energy story, and has it been checked? Lloyds Metals & Energy Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 22 August 2026. Lloyds Metals has converted captive iron ore into a pellets-DRI-steel platform that earned 38% OPM in Q1 FY27, but margins are at the top of their own 42-quarter band and a Rs15,000 Cr capex overhang means free cash flow will be deeply negative for at least two more years. From the numbers. EPS = revenue × OPM × (1 - interest/EBITDA) × (1 - tax). Revenue is still growing (Q1 FY27 +208% YoY standalone) and is the dominant lever. OPM at 38% Q1 FY27 is the margin in question. Interest expense is rising, Q1…

From the price. Price stage 2, week 29, above its 200-day line, relative strength flat. From the research. Lloyds Metals has converted captive iron ore into a pellets-DRI-steel platform that earned 38% OPM in Q1 FY27, but margins are at the top of their own 42-quarter band and a Rs15,000 Cr capex overhang means free cash…

Where they disagree. STRONG OPPORTUNITY. What is proven. Lloyds Metals has converted captive iron ore into a pellets-DRI-steel platform that earned 38% OPM in Q1 FY27, but margins are at the top of their own 42-quarter band and a Rs15,000 Cr capex overhang means free cash flow will be deeply negative for at least two more years. What is not proven yet. What would change our mind. The test written in advance. Management financial guidance credibility, repeated material misses. Measured by: Management financial guidance credibility, repeated material misses by the next result. The test written in advance. Lever 5 · Regulatory approval: building. FY26 iron ore production reached 21.96 million tons and FY27 guidance is 26 million tons, with Surjagarh expanded to a 55 million ton environmental clearance limit providing runway to triple current output. What proves it keeps working: Iron ore volume scale with environmental clearance headroom. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Lloyds Metals & Energy management deliver what it promised? What Lloyds Metals & Energy Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Consolidated Net Debt Far Above Prior Peak Outlook · 11 August 2026. In February 2026, management said consolidated net debt would peak at approximately INR10,500-10,600 crores in FY28. However, in August 2026, management reported consolidated net debt of around INR19,000 crores, an increase of roughly 80% versus the prior peak outlook. Management attributed a significant portion to an acquisition but did not provide a quantified reconciliation to the earlier debt trajectory. Copper Project Completion Capex Increased · 11 August 2026. In May 2026, management estimated that completing the under-construction copper asset would require approximately $200-260 million. In August 2026, the stated total completion capex increased to around $300 million or more, materially above the prior range, without explaining the change in scope, cost assumptions, or project requirements. BHQ Output Estimate Materially Revised · 11 August 2026. Management previously stated that the first phase of the BHQ plant would process 30 million tons of input and produce approximately 12 million tons of output. In August 2026, the output estimate was raised to 16-17 million tons, roughly one-third higher than the prior estimate, without an explanation for the significant change in expected yield or plant configuration. Second Slurry Pipeline Per-Ton Savings Materially Reduced · 6 May 2026. Management in the Feb 2026 call explicitly stated the second slurry pipeline would generate savings of INR850 per ton for sale material and around INR1,250 per ton for Chandrapur pellet plant material, anchoring the key economic rationale for the multi-thousand crore project. The May 2026 call revises this down to INR500-600 per ton for the same category of material - a 30-40% reduction - with no explanation provided, directly weakening the case and raising questions about whether the INR2,000 crore annual savings goal by 2028 can be achieved. Every quote above is taken word for word from the company’s own earnings calls. ## What is Lloyds Metals & Energy management's track record? Capital spending guide tripled in 6 months; ₹10,500 crore peak-debt ceiling breached without acknowledgment; 4 cross-call inconsistencies May-2026. ### Regulatory and governance record

No SEBI/CBI/ED action against the company; the HIGH flag is internal financial-guidance credibility (capital spending tripled, debt ceiling breached), not a regulatory event. 0% Promoter shares pledged

Sources:

- [trendlyne.com](https://trendlyne.com/equity/insider-trading-sast/all/LLOYDSME/2582/lloyds-metals-energy-ltd)

(Checked 30 June 2026.)

## How much does Lloyds Metals & Energy earn on its capital? Lloyds Metals & Energy Ltd earned a ROCE of 27% in FY26. That is up from a low of 6% in FY21. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 22.4% net margin and 0.41× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 22.4% net margin × 0.41× asset turnover × 3.00× leverage (assets divided by equity) ≈ 27.6% on equity. The margin does most of the work; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.2% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Lloyds Metals & Energy have too much debt? Lloyds Metals & Energy Ltd had ₹20,716 Cr of borrowings against ₹13,871 Cr of equity in FY26, so its debt is 1.49× its equity. Its operating profit is 12 times its interest bill. Over 5 years borrowings went from ₹155 Cr to ₹20,716 Cr. Over the last 3 of those years it spent ₹27,022 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.2% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Lloyds Metals & Energy shareholding pattern? Promoters cut their stake in Lloyds Metals & Energy Ltd by 1.9 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 61.6% of the company. Domestic institutions moved +0.4 points over the same period, to 2.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −1.9 points over 8 quarters, to 61.6%; Domestic institutions: +0.4 points over 8 quarters, to 2.1%; Foreign institutions: +0.0 points over 8 quarters, to 1.9%. Why the owners changed: promoters drove it (−1.9 points). They reduced their stake. ## How far is Lloyds Metals & Energy from balance-sheet trouble? For Lloyds Metals & Energy Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Lloyds Metals & Energy rank in its industry? 69.0 out of 100, rank 2 of 6 in Mining/Minerals - Iron Ore, with 71% of the evidence available. Lloyds Metals & Energy Ltd scores 69.0 out of 100 against the 6 companies it is compared with in Mining/Minerals - Iron Ore, ranking 2. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 23.9 + 19.5 + 8.5 + 17.1 = 69. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Lloyds Metals & Energy compared with? Lloyds Metals & Energy ranks 2 of 6 Mining/Minerals - Iron Ore companies on the 4-Factor Sector Score, with 69.0 out of 100. 1. [Jayaswal Neco Industries Ltd](https://www.sectoralpha.in/stocks/jayaswal-neco-industries-ltd) JAYNECOIND · breaking out · Most evidence points up · 93% evidence 71.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.2/35 · Revenue 18.3% · Profit 82.8% · Operating margin change 2 points · 100% evidence Capital efficiency 14.1/25 · ROCE 20.7% · Operating margin 20% · 100% evidence Valuation 12.3/20 · P/E 12.1× · PEG 0.62 · 65% evidence Relative strength 18.2/20 · Lead over its industry 11.7% · Lead over NIFTY 500 5.7% · 1 year 12.1% · 100% evidence · 5 of 12 weeks ahead Exact sum: 27.2 + 14.1 + 12.3 + 18.2 = 71.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. Lloyds Metals & Energy Ltd this page LLOYDSME · losing its lead · Most evidence points up · 71% evidence 69.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.9/35 · Revenue 100% · Profit 100% · Operating margin change 5 points · 83% evidence Capital efficiency 19.5/25 · ROCE 27.3% · Operating margin 38% · 76% evidence Valuation 8.5/20 · P/E 21.6× · PEG n/a · 15% evidence Relative strength 17.1/20 · Lead over its industry 29.2% · Lead over NIFTY 500 22% · 1 year 39.8% · 100% evidence · 5 of 12 weeks ahead Exact sum: 23.9 + 19.5 + 8.5 + 17.1 = 69 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Sandur Manganese & Iron Ores Ltd](https://www.sectoralpha.in/stocks/sandur-manganese-iron-ores-ltd) SANDUMA · quiet · Evidence leans up · 96% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 45.2% · Profit 46.1% · Operating margin change -1 points · 88% evidence Capital efficiency 16.9/25 · ROCE 24.2% · Operating margin 25% · 100% evidence Valuation 15.7/20 · P/E 10.6× · PEG 0.33 · 100% evidence Relative strength 1.8/20 · Lead over its industry -13.2% · Lead over NIFTY 500 -17.2% · 1 year -25.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 22.9 + 16.9 + 15.7 + 1.8 = 57.3 · What this means: Earnings are strong; relative strength in its sector is -13.2% and the one-year return is -25.3%. 4. [NMDC Ltd](https://www.sectoralpha.in/stocks/nmdc-ltd) NMDC · quiet · Evidence leans up · 96% evidence 50.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 27.3% · Profit 14.2% · Operating margin change -1 points · 88% evidence Capital efficiency 19.6/25 · ROCE 27.6% · Operating margin 36% · 100% evidence Valuation 9.9/20 · P/E 7.9× · PEG 1.58 · 100% evidence Relative strength 4.4/20 · Lead over its industry -9% · Lead over NIFTY 500 -13.5% · 1 year -11.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.3 + 19.6 + 9.9 + 4.4 = 50.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Sarda Energy & Minerals Ltd](https://www.sectoralpha.in/stocks/sarda-energy-minerals-ltd) SARDAEN · quiet · Evidence leans down · 93% evidence 44.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.6/35 · Revenue -2.2% · Profit 7.3% · Operating margin change 1 points · 100% evidence Capital efficiency 12.8/25 · ROCE 16.9% · Operating margin 35% · 100% evidence Valuation 12.7/20 · P/E 14.1× · PEG 0.48 · 65% evidence Relative strength 10.7/20 · Lead over its industry -5.8% · Lead over NIFTY 500 -10.4% · 1 year -16.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 8.6 + 12.8 + 12.7 + 10.7 = 44.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Godawari Power & Ispat Ltd](https://www.sectoralpha.in/stocks/godawari-power-ispat-ltd) GPIL · quiet · Evidence leans down · 96% evidence 36.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.6/35 · Revenue 8.4% · Profit 8.8% · Operating margin change -5 points · 88% evidence Capital efficiency 10.7/25 · ROCE 20.5% · Operating margin 19% · 100% evidence Valuation 11.9/20 · P/E 15.8× · PEG 0.31 · 100% evidence Relative strength 2.2/20 · Lead over its industry -16.3% · Lead over NIFTY 500 -20.4% · 1 year -32% · 100% evidence · 0 of 12 weeks ahead Exact sum: 11.6 + 10.7 + 11.9 + 2.2 = 36.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Mining/Minerals - Iron Ore](https://www.sectoralpha.in/sectors/mining-minerals-iron-ore), all 6 compared on one page. ## Which companies are close to Lloyds Metals & Energy in size? Lloyds Metals & Energy is the largest of 6 Mining/Minerals - Iron Ore companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: NMDC, Sarda Energy & Minerals, Godawari Power & Ispat, Jayaswal Neco Industries and Sandur Manganese & Iron Ores. ### Mining/Minerals - Iron Ore companies close in size

1. Lloyds Metals & Energy Ltd ₹1,02,773 crore
2. [NMDC Ltd](https://www.sectoralpha.in/stocks/nmdc-ltd) ₹59,204 crore
3. [Sarda Energy & Minerals Ltd](https://www.sectoralpha.in/stocks/sarda-energy-minerals-ltd) ₹15,535 crore
4. [Godawari Power & Ispat Ltd](https://www.sectoralpha.in/stocks/godawari-power-ispat-ltd) ₹12,987 crore
5. [Jayaswal Neco Industries Ltd](https://www.sectoralpha.in/stocks/jayaswal-neco-industries-ltd) ₹8,454 crore
6. [Sandur Manganese & Iron Ores Ltd](https://www.sectoralpha.in/stocks/sandur-manganese-iron-ores-ltd) ₹7,861 crore

[All 6 Mining/Minerals - Iron Ore companies, largest first](https://www.sectoralpha.in/sectors/mining-minerals-iron-ore#all-companies)

### Companies close in size in other industries

1. [Mankind Pharma Ltd](https://www.sectoralpha.in/stocks/mankind-pharma-ltd) ₹1,02,964 crore · Pharma - Formulators
2. [GE Vernova T&D India Ltd](https://www.sectoralpha.in/stocks/ge-vernova-t-d-india-ltd) ₹1,02,932 crore · Electrical Equipments/HVDC
3. Lloyds Metals & Energy Ltd ₹1,02,773 crore
4. [Tata Consumer Products Ltd](https://www.sectoralpha.in/stocks/tata-consumer-products-ltd) ₹1,01,533 crore · FMCG - Foods
5. [Aditya Birla Capital Ltd](https://www.sectoralpha.in/stocks/aditya-birla-capital-ltd) ₹1,01,156 crore · Conglomerate Backed NBFC

## What else do people ask about Lloyds Metals & Energy? ### What is Lloyds Metals & Energy's share price today? Lloyds Metals & Energy Ltd's share price is ₹1,799.60, +36.6% over the past year. The whole company is worth ₹1,01,343 Cr on the market. In the last 52 weeks it traded between ₹1,074 to ₹2,100; today it is 71% of the way up from the low, 6.8% above its 200-day average (as of 4 November 2026). ### What were Lloyds Metals & Energy's latest quarterly results? Lloyds Metals & Energy Ltd reported revenue of ₹7,354 Cr and net profit of ₹1,734 Cr for the Jun 2026 quarter. Revenue rose 208.5% and profit rose 170.1% compared with a year earlier. Earnings per share were ₹30.67 (as of 4 November 2026). ### What is Lloyds Metals & Energy's market cap? Lloyds Metals & Energy Ltd's market capitalisation is ₹1,01,343 Cr at a share price of ₹1,799.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Lloyds Metals & Energy performing? Lloyds Metals & Energy Ltd's share price has been rising for 29 weeks. In its latest quarter, revenue rose 208.5% and profit rose 170.1% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 4 November 2026). ### Will Lloyds Metals & Energy's share price go up? This page does not forecast Lloyds Metals & Energy Ltd's share price. What it shows instead: the share price is ₹1,799.60, and it has been rising for 29 weeks. Its P/E of 21.3× is higher than 27% of its own last 6 years (as of 4 November 2026). ### Who owns Lloyds Metals & Energy? Promoters own 61.6% of Lloyds Metals & Energy Ltd, foreign institutions 1.9%, domestic institutions 2.1% and the public 34.3% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 1.9 percentage points over 8 quarters (as of 4 November 2026). ### Where is Lloyds Metals & Energy in its business cycle? Lloyds Metals & Energy Ltd's FY26 operating margin was 36.0%, against a 13-year range of 2.0% to 36.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 38.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Lloyds Metals & Energy story? The main question: yearly earnings per share moved +135.2% while the share price moved +36.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Lloyds Metals & Energy a stock worth studying right now? What the numbers show: Lloyds Metals & Energy Ltd's multiple is near its low because earnings grew even faster than a 20× rise in the share price over five years. The multiple is low because of growth, not neglect. Results are still improving, and its P/E is higher than only 27% of its own 6-year history. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Lloyds Metals & Energy share price forecast for 2026? What management itself guided: Triveni FY27 operating margin 28-30% and Odisha production 34-35 million tons. What is changing at Lloyds Metals & Energy, from the latest results and calls: pellet-led value addition, iron ore volume scale with environmental clearance headroom and triveni mdo subsidiary scale and profitability. What would change the story: Pellet operating profit per ton falls below ₹3,500 for two consecutive quarters due to Indian steel capacity additions absorbing domestic pellet demand or global pellet premiums compressing as Chinese and South Korean pellet plants increase output. ### Where does this page get Lloyds Metals & Energy's management information? From Lloyds Metals & Energy's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Copper & metal stocks: https://www.sectoralpha.in/copper-stocks-india

This is research, not advice. We’re not SEBI-registered.