Lloyds Metals reported a stellar performance for Q2 and H1 FY26, with revenue increasing by 75% and 28% YoY, respectively. This growth was fueled by enhanced production and dispatch of iron ore, along with increased sales of value-added products like pellets. The company’s EBITDA margins also saw significant improvement, driven by a better product mix and operational efficiencies. Lloyds Metals has commenced DRI expansion and is confident about maintaining robust performance.
Financial Highlights for Q2 FY26 & H1 FY26
Lloyds Metals reported exceptional financial results, driven by increased production volumes and a favorable product mix:
- Total Income for Q2 FY26 reached INR 25,754 Mn, a 75% year-over-year increase.
- H1 FY26 Total Income stood at INR 49,838 Mn, reflecting a 28% YoY growth.
- EBITDA margins for Q2 FY26 improved to 33.75%, up by 349 bps YoY.
- H1 FY26 EBITDA margin reached 33.67%, an increase of 363 bps YoY.
- The company reported a Q2 FY26 EBITDA growth of 95% YoY.
- The robust performance was primarily attributed to enhanced EC limits, efficient slurry pipeline operations, and commencement of pellet sales.
Operational Performance
The company reported notable improvements in operational metrics, contributing to the strong financial performance:
- Iron ore production volume for Q2 FY26 stood at 3.42 mnt, a 77% YoY increase.
- H1 FY26 iron ore production volume reached 7.38 mnt, reflecting a 24% YoY growth.
- Pellet production for Q2 & H1 FY26 stood at 0.78 mnt, achieving 100% capacity utilization in October ’25.
- The company witnessed strong pellet realization at INR 9,916 per tonne, with an EBITDA per tonne of INR 5,039.
Thriveni Earthmovers and Infra Private Limited (TEIPL)
TEIPL’s operations contributed significantly to the consolidated performance:
- Total EC of mines in Odisha increased from 7.79 MTPA to 11.8 MTPA.
- Secured EB power supply at Pradan and SML mines.
Strategic Initiatives and Outlook
Lloyds Metals is focused on strategic initiatives to drive future growth and efficiency:
- Commencement of DRI expansion to increase output.
- Thriveni’s MDO integration is expected to enhance cost optimization and increase mining margins by ~10-15%.
ESG and Community Initiatives
The company is committed to sustainable practices and community development:
- Implementing electric solutions in mining operations.
- Investing in renewable energy sources.
- Supporting local communities through CSR activities and skill development programs.
Future Guidance
- Iron Ore Production : 20-22MnT for FY26 and 25-26MnT for FY27
- Pellet Production : 2.8-3MnT for FY26 and 5.5-7MnT for FY27
Source: BSE
