Lloyds Enterprises financials and balance sheet

NSE: LLOYDSENTBSE: 512463Metals & Minerals TradingSmall Cap

₹62.36₹1.38 (2.17%)BSE ₹62.56

Share price at the NSE close on 23 Oct 2026. Previous close ₹63.74.

52-week range of traded prices to 23 Oct 2026

₹40.69Low, 30 Mar 2026₹84.70High, 10 Aug 2026

Market cap: ₹9,520 Cr597th largest listed
P/E: Earlier quarters restated in the year
P/B: 2.3
Dividend yield: 0.08%
ROCE: 2.5%
Debt to equity: 0.13
Volume, NSE: 36,14,92847.0% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Lloyds Enterprises annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹1,756 Cr, year to Mar 2026A loss in 4 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue1,756
Materials and goods−1,198
Employee costs−119
Other expenses−323
Operating profit116
Depreciation−23
Other income+427
One-off items−4.1
Finance costs−48
Profit before tax469
Tax−94
Joint ventures+42
Net profit417

What the company owns

Plant, investments and other assets₹5,382 Cr
Cash and bank₹909 Cr
Inventory₹562 Cr
Receivables₹269 Cr
Current investments₹58 Cr

What pays for it: net worth and liabilities

Net worth₹5,433 Cr
Other liabilities₹803 Cr
Borrowings₹723 Cr
Owed to suppliers₹221 Cr

Lloyds Enterprises business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Lloyds Enterprises segment results by quarter

Revenue by segment

₹2,287 CrTotal

Engineering₹1,267 Cr55.4% of total
Steel₹766 Cr33.5% of total
Electrical₹187 Cr8.2% of total
Real Estate₹67 Cr2.9% of total

Profit by segment

Engineering₹178 Cr35.9% of total
Steel₹298 Cr60.2% of total
Electrical₹14 Cr2.7% of total
Real Estate₹6 Cr1.2% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Engineering
Revenue, ₹ crore
778
1,267
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
136
178
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Steel
Revenue, ₹ crore
627
766
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
35
298
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Electrical
Revenue, ₹ crore
93
187
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
11
14
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Real Estate
Revenue, ₹ crore
84
67
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
15
6
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	–	–	–	–	–	–	1,582	2,287
Company revenue, as in its results	15	1	1	48	380	958	1,488	1,756
Revenue	–	–	–	–	–	–	778	1,267
Revenue growth	–	–	–	–	–	–	–	62.9%
Profit	–	–	–	–	–	–	136	178
Profit growth	–	–	–	–	–	–	–	31.0%
Margin	–	–	–	–	–	–	17.4%	14.0%
Return on capital	–	–	–	–	–	–	–	12.2%
Assets	–	–	–	–	–	–	–	2,151
Liabilities	–	–	–	–	–	–	–	698
Capital employed	–	–	–	–	–	–	–	1,453
Revenue	–	–	–	–	–	–	627	766
Revenue growth	–	–	–	–	–	–	–	22.2%
Profit	–	–	–	–	–	–	35	298
Profit growth	–	–	–	–	–	–	–	761.5%
Margin	–	–	–	–	–	–	5.5%	38.9%
Return on capital	–	–	–	–	–	–	–	9.0%
Assets	–	–	–	–	–	–	–	3,518
Liabilities	–	–	–	–	–	–	–	208
Capital employed	–	–	–	–	–	–	–	3,310
Revenue	–	–	–	–	–	–	93	187
Revenue growth	–	–	–	–	–	–	–	101.1%
Profit	–	–	–	–	–	–	11	14
Profit growth	–	–	–	–	–	–	–	17.9%
Margin	–	–	–	–	–	–	12.3%	7.2%
Return on capital	–	–	–	–	–	–	–	16.5%
Assets	–	–	–	–	–	–	–	241
Liabilities	–	–	–	–	–	–	–	159
Capital employed	–	–	–	–	–	–	–	82
Revenue	–	–	–	–	–	–	84	67
Revenue growth	–	–	–	–	–	–	–	−20.2%
Profit	–	–	–	–	–	–	15	6
Profit growth	–	–	–	–	–	–	–	−62.9%
Margin	–	–	–	–	–	–	18.3%	8.5%
Return on capital	–	–	–	–	–	–	–	1.3%
Assets	–	–	–	–	–	–	–	1,293
Liabilities	–	–	–	–	–	–	–	854
Capital employed	–	–	–	–	–	–	–	439

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Lloyds Enterprises quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 8 Jun	Mar 2020Filed 19 Jun	Mar 2021Filed 29 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 9 May	Mar 2024Filed 9 May	Mar 2025Filed 10 Jun	Mar 2026Filed 8 May
Revenue from operations	47	243	15	1	1	48	380	958	1,488	1,756
	49	–	23	2	2	44	330	869	1,370	1,640
Materials and goods bought	47	242	13	1	1	11	249	728	1,109	1,198
Employee costs	1	–	1	1	1	13	20	39	66	119
Other expenses	1	–	8	0	0	19	61	102	196	323
Operating profit before depreciation	−2	–	−8	−2	−1	4	50	89	118	116
Operating margin	−4.2%	–	−55.1%	−311.7%	−170.9%	8.4%	13.2%	9.3%	7.9%	6.6%
Materials, % of revenue	99.8%	–	87.8%	99.6%	99.8%	24.0%	65.5%	76.0%	74.5%	68.2%
Employee costs, % of revenue	1.7%	–	9.6%	248.0%	121.0%	27.6%	5.3%	4.1%	4.4%	6.8%
Other expenses, % of revenue	2.7%	–	57.8%	64.1%	50.2%	40.0%	16.0%	10.6%	13.1%	18.4%
Depreciation and amortisation	0	0	0	0	0	1	2	5	11	23
Operating profit after depreciation	−2	–	−8	−2	−1	3	48	84	107	93
Other income	0	0	0	0	1	159	17	135	83	427
Finance costs	2	–	0	0	0	1	5	6	27	48
Profit before one-off items and tax	−4	−6	−8	−2	0	161	60	213	163	473
One-off items	0	0	0	0	0	0	−3	0	0	−4
Profit before tax	−4	−6	−8	−2	0	161	57	213	163	469
	0	0	0	−1	0	6	12	38	37	94
Current tax	–	–	0	−1	0	2	10	45	35	87
Deferred tax	–	–	0	0	0	4	2	−7	2	7
Share of profit of joint ventures and associates	3	–	−35	0	1	−1	23	0	−3	42
	−1	−4	−44	−1	1	154	68	175	123	417
Belonging to the company's shareholders	−1	−4	−44	−1	1	151	49	118	57	283
Belonging to outside owners of subsidiaries	–	–	0	0	–	3	19	57	66	134
Other comprehensive income	–	–	−16	−23	14	196	241	502	860	297
Total comprehensive income	–	–	−60	−23	15	350	309	677	983	714
Net margin	−2.0%	−1.5%	−298.5%	−92.5%	150.6%	321.5%	17.8%	18.2%	8.3%	23.7%
Net margin without joint ventures and associates	−7.7%	–	−55.1%	−145.7%	−29.8%	324.0%	11.8%	18.2%	8.5%	21.3%

Operating expenses, operating profit before depreciation and operating profit after depreciation are left blank for the year to Mar 2018: the statement does not state its finance costs, which operating profit is worked out from, so operating profit is not given.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 8 Jun	Mar 2020Filed 19 Jun	Mar 2021Filed 29 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 9 May	Mar 2024Filed 9 May	Mar 2025Filed 10 Jun	Mar 2026Filed 8 May
	336	312	327	795	1,103	2,048	3,021	5,433
	336	312	327	795	1,103	1,665	2,454	4,143
Share capital	114	114	114	127	127	127	127	151
Reserves	222	198	213	667	976	1,538	2,327	3,992
Belonging to outside owners of subsidiaries	–	–	–	0	–	383	566	1,290
	0	0	2	19	64	110	575	723
Repayable after a year	0	0	0	19	0	5	137	389
Repayable within a year	0	0	2	0	64	105	438	334
	0	1	8	33	185	333	685	949
Trade payables	0	1	0	0	25	29	106	221
Other financial liabilities	–	–	–	9	3	3	–	19
Other liabilities	0	0	5	23	89	191	131	360
Provisions	0	0	0	1	3	5	11	13
Tax owed	–	–	–	–	–	–	–	1
	0	0	0	27	9	25	552	799
Other financial liabilities	–	–	–	4	5	12	1	60
Other liabilities	–	–	–	0	–	1	21	1
Provisions	0	0	0	5	4	6	8	11
Deferred tax	–	–	–	0	–	–	384	338
Trade payables	–	–	–	0	–	2	2	0
Total assets	337	314	335	855	1,297	2,406	4,257	7,180
	337	313	328	689	934	1,594	2,874	4,312
Plant in use, after depreciation	0	0	0	9	27	63	82	185
Plant being built	–	–	–	4	26	11	63	71
Intangible assets	0	0	0	4	6	16	32	6
Goodwill	0	0	0	1	0	10	133	177
Property held to earn rent	–	–	–	–	–	20	7	3,457
Investments	187	164	179	351	623	1,229	2,463	0
Other financial assets	–	–	–	0	1	2	9	89
Deferred tax	–	–	–	4	1	10	–	0
Other assets	150	149	149	317	251	233	86	326
	0	1	8	166	363	812	1,383	2,868
Inventories	0	0	0	49	122	219	161	562
Trade receivables	0	0	0	10	39	152	273	269
Cash and cash equivalents	0	0	1	25	8	127	144	342
Other bank balances	0	1	6	0	25	53	32	567
Current investments	0	0	0	0	9	17	19	58
Loans given	0	0	0	29	52	24	0	131
Other financial assets	–	–	–	4	8	8	–	77
Tax paid in advance	–	–	–	2	3	1	5	–
Other assets	0	1	0	47	96	212	748	862
Net debt	0	−1	−5	−6	21	−86	380	−244

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 29 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 9 May	Mar 2024Filed 9 May	Mar 2025Filed 10 Jun	Mar 2026Filed 8 May
	4	−181	63	−20	145	−361
	4	−31	74	82	191	22
	5	−192	−3	−78	38	−464
Receivables	1	−3	−29	−112	−39	20
Inventories	0	−30	−73	−21	105	−342
Payables	−1	3	15	3	47	101
Other working capital	5	−162	84	52	−75	−244
Tax paid	0	0	−11	−42	−46	−69
Interest paid	0	0	0	0	0	44
Capital spending	0	12	0	52	2	81
Free cash flow	4	−193	63	−72	142	−442
	−5	157	−72	−180	−295	−1,583
Plant and property sold	0	0	−35	9	0	19
Interest received	0	2	5	17	24	22
Dividends received	0	0	0	5	11	2
	2	34	23	318	140	2,489
Borrowings raised	2	0	0	54	187	873
Borrowings repaid	0	−2	−1	0	0	−27
Interest paid	0	0	−3	−4	−22	−44
Dividends paid	0	0	0	19	26	58
Shares bought back	0	0	0	0	0	47
Shares issued	0	16	–	0	0	1,789
Net change in cash	1	10	14	118	−10	545

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020. Shares issued is left blank for the year to Mar 2023: the money stated as raised on shares and other equity instruments is more than three times what the shares issued in the period were worth at its end, so not all of it bought shares and the figure is not given.

Consolidated, ₹ per share, years to March.Lloyds Enterprises dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 8 Jun	Mar 2020Filed 19 Jun	Mar 2021Filed 29 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 9 May	Mar 2024Filed 9 May	Mar 2025Filed 10 Jun	Mar 2026Filed 8 May
Earnings per share	−₹0.01	−₹0.03	−₹0.38	₹0.00	₹0.01	₹1.21	₹0.53	₹1.37	₹0.97	₹3.08
Diluted earnings per share	−₹0.01	−₹0.03	−₹0.38	₹0.00	₹0.01	₹1.21	₹0.53	₹1.37	₹0.97	₹3.08
Dividend per share	–	–	–	–	–	–	–	–	₹0.10	₹0.15
Book value per share	–	–	₹2.95	₹2.74	₹2.87	₹6.25	₹8.67	₹13.09	₹19.29	₹27.14
Dividend payout	–	–	–	–	–	–	–	–	22.3%	8.1%
Shareholder yield	–	–	–	–	0.0%	−2.1%	–	0.5%	0.5%	−26.7%
Market cap at the year end (₹ crore)	259	156	379	136	266	761	906	3,517	5,662	6,317

Shareholder yield is left blank for the year to Mar 2023: the money stated as raised on shares and other equity instruments is more than three times what the shares issued in the period were worth at its end, so not all of it bought shares and the figure is not given.

Ratios

Consolidated, years to March.Lloyds Enterprises PE ratio and valuation

Ratio	Mar 2018	Mar 2019Filed 8 Jun	Mar 2020Filed 19 Jun	Mar 2021Filed 29 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 9 May	Mar 2024Filed 9 May	Mar 2025Filed 10 Jun	Mar 2026Filed 8 May
Revenue growth	412.7%	−94.0%	−96.1%	41.5%	5,841.7%	695.2%	152.0%	55.3%	18.0%
Operating profit growth	–	–	–	–	–	1,147.6%	77.3%	32.5%	−1.8%
Net profit growth	–	–	–	–	12,581.2%	−56.0%	158.2%	−29.4%	238.0%
Earnings per share growth	–	–	–	–	12,000.0%	−56.2%	158.5%	−29.2%	217.5%
	–	−12.9%	−0.2%	0.4%	26.9%	5.1%	8.5%	2.8%	8.6%
	–	–	12.8 pts	0.5 pts	26.5 pts	−21.8 pts	3.4 pts	−5.7 pts	5.8 pts
From the net margin	–	–	8.9 pts	0.4 pts	0.4 pts	−25.8 pts	−0.2 pts	−5.8 pts	8.9 pts
From asset turnover	–	–	3.8 pts	0.1 pts	25.0 pts	3.7 pts	2.3 pts	−0.4 pts	−3.6 pts
From borrowing	–	–	0.0 pts	0.0 pts	1.2 pts	0.3 pts	1.3 pts	0.5 pts	0.6 pts
Return on capital employed	–	−2.4%	−0.6%	−0.4%	0.4%	4.1%	3.9%	3.0%	1.5%
Cash conversion	–	–	–	312.4%	−118.0%	93.0%	−11.4%	117.1%	−86.6%
Interest cover	–	–	–	–	2.8	10.2	13.3	4.0	1.9
Debt to equity	–	0.00	0.00	0.01	0.02	0.06	0.05	0.19	0.13
Receivable days	–	0	0	0	79	38	58	67	56
Inventory days	–	0	0	0	1,552	179	110	53	171
Payable days	–	0	383	0	0	36	14	35	67
Cash conversion cycle, days	–	0	−383	0	1,631	180	153	85	160
Working capital days	–	1	−328	−2,321	823	191	148	231	267
Asset turnover	–	0.04	0.00	0.00	0.08	0.35	0.52	0.45	0.31
Assets per rupee of net worth	–	1.00	1.00	1.02	1.06	1.13	1.34	1.62	1.73
Sales per rupee of plant	–	3,738.18	162.57	259.65	5.18	14.04	15.16	18.11	9.48
Capital spending to depreciation	–	–	–	0.00	10.21	0.00	9.65	0.22	3.55
Plant being built, % of plant in use	–	–	–	–	40.5%	94.4%	16.8%	76.8%	38.4%

Interest cover is left blank for the years to Mar 2017, Mar 2019 and Mar 2021: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 5.0%
Cash from operations against operating profit: −311.6%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	365.3%	66.5%
Profit growth, yearly rate	–	197.7%	79.8%
Return on equity, average	–	10.4%	6.6%
Return on capital employed, average	–	2.6%	2.8%
Operating margin, average	−55.2%	9.1%	7.9%
Net margin, average	14.6%	77.9%	16.8%
Asset turnover, average	–	0.34	0.42
Cash conversion cycle, days, average	–	442	133
Interest cover, average	–	6.4	6.4
Debt to equity, average	–	0.09	0.13

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	−355	−237	−361
Cash from investing	−1,972	−2,057	−1,583
Cash from financing	3,004	2,947	2,489
Capital spending	147	135	81
Dividends paid	103	103	58
Shares bought back	47	47	47
Shares issued for cash	–	1,789	1,789
Borrowings raised	1,113	1,113	873
Borrowings repaid	30	27	27

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	6	5	5	5	5	4
Altman Z-scorePublished threshold 1.81	373.70	55.52	20.50	9.51	4.47	7.73	4.21	3.75
Beneish M-scorePublished threshold −1.78	–	–	–	–	3.10	−0.12	−2.32	0.51
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	0.71	29.94	7.12	20.25	8.21	41.28
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	−0.51	−0.35	0.51	−0.33
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	–	−415.27	135.46	24.06	−19.53
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	–	−1,917.51	−112.84	−78.69	240.31
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	44.64	−15.24	110.24	14.10	11.87	35.78	10.60
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.36	1.26	0.26	2.13	0.57
Effective tax ratePublished threshold 17.16 per cent	–	–	–	3.82	21.59	17.84	22.58	20.06
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	3.56	2.72	−1.72	−5.73	5.25

A threshold marked as ours has no published figure; it is the line we read the check against.