Lloyds Enterprises announced exceptional financial results for the nine months ending December 31, 2025 (9MFY26), with consolidated PAT soaring by 253% YoY. This growth was fueled by robust performances across its subsidiaries, notably LEWL and significant advancements in strategic investments, including the near-commissioning of India’s first privately-operated gold mine, Jonnagiri.
Financial Performance Snapshot (9MFY26)
Lloyds Enterprises demonstrated significant acceleration in its financial trajectory for the nine months ended December 31, 2025 (9MFY26). The company reported substantial year-over-year (YoY) growth both on standalone and consolidated bases.
Key Financial Highlights:
- Income from Operations: Consolidated income grew by 33% YoY, reaching ₹1393.28 Crore, while standalone operations saw an increase of 41% YoY.
- PAT from Operations: Consolidated Profit After Tax (PAT) surged by an impressive 253% YoY to ₹348.44 Crore. Standalone PAT showed even more dramatic growth, increasing by 1589% YoY to ₹246.64 Crore.
- EBIDTA Margin: Consolidated EBIDTA margin expanded significantly to 30.67%, up 1740 basis points from the previous year.
Subsidiary and Strategic Investment Milestones
The financial performance was significantly bolstered by key developments across the company’s diverse portfolio:
Lloyds Engineering Works Ltd (LEWL):
- LEWL continued its stellar performance, having reported its highest-ever Revenue and PAT in FY25.
- The engineering subsidiary boasts an order book exceeding ₹6,645 Crore as of FY26 (including subsidiaries).
- The business is characterized as debt-free, diversified, and focused on EPC-led transformation and technology tie-ups.
Gold Mining Venture (GMSI):
- The company made a strategic investment in Geomysore Services India Pvt. Ltd (GMSI) in Q2FY26, acquiring a stake in what is billed as India’s first privately-operated gold mine since Independence.
- The Jonnagiri project is expected to yield up to 1,000 kilograms of refined gold annually, with peak output projected for the next 15 years.
- The resource base is estimated at up to 42.5 tonnes of gold (per JORC estimates).
Lloyds Realty Developers Ltd (LRDL):
- LRDL made a strategic entry into the warehousing and logistics infrastructure sector via a non-binding MoU for approximately 99 acres in Taloja, Navi Mumbai.
- Additional MoUs were signed for over 175 acres in Khopoli for integrated residential development.
- The aggregate land secured under recent MoUs now exceeds 270 Acres across MMR Growth Corridors, translating to a revenue potential exceeding ₹5,000 Crore.
- LRDL emphasizes an asset-light model, prioritizing joint ventures to mitigate development risk and generate quicker cash flows.
Corporate Restructuring Announced
In a significant move to unlock shareholder value, the company announced a corporate restructuring to create two focused entities:
Structural Changes:
- Lloyds Enterprises (LEL) will merge its real estate subsidiaries into itself.
- The entire real estate business will then be separated into a new, standalone, and automatically listed company, Lloyds Realty Limited.
- LEL will retain only the trading and investment business.
Strategic Rationale:
This separation is designed to improve transparency and valuation visibility, as the trading and real estate businesses have sharply differing capital intensity and risk profiles. The goal is to establish clearer strategy, stronger accountability, and better valuation visibility for shareholders.
Capital Market Snapshot (As of December 31, 2025)
As of the reporting date, the company’s market capitalization stood at ₹8617 Crore, with a market price of ₹59.75 on the BSE, and a promoter holding of 62.72%.
Source: BSE
