Lloyds Metals and Energy Limited has released the Monitoring Agency reports for the quarter ended March 31, 2026. The reports provide an overview of the utilization of funds raised through the Qualified Institutions Placement (QIP) and Preferential Issue of Warrants. As of the end of the quarter, the company has progressed with its major infrastructure projects, including the 4 MTPA pellet plant at Konsari, with funds being deployed toward ongoing capital expenditures.
Quarterly Progress on Key Projects
During the quarter ended March 31, 2026, the company continued significant work on its flagship projects. The 4 MTPA pellet plant located at Konsari, Maharashtra, reached a major milestone with the project being completed by the end of March 2026. The company utilized funds raised from the QIP to meet the capital expenditure requirements for this facility.
Utilization of Issue Proceeds
The company raised funds through both a Qualified Institutions Placement (QIP) and a Preferential Issue. The QIP proceeds, amounting to INR 1,218.00 crore, were primarily directed toward the Konsari pellet plant. Simultaneously, the Preferential Issue of convertible warrants aimed to raise INR 2,960.00 crore (with INR 2,722.83 crore actually subscribed), which is being used to fund capital expenditures for capacity expansion at the Ghugus sponge iron plant and the Konsari pellet plant.
Strategic Infrastructure Expansion
The company’s strategic growth plan includes forward integration and increasing production capacities. Current projects include:
- Ghugus Plant: Expansion of sponge iron manufacturing and power generation capacity.
- Konsari Plant: Setup of a 4 MTPA pellet plant to leverage the Surjagarh Iron Ore Mines.
While the pellet plant project at Konsari has experienced a shift in cost estimates—increasing from the original INR 1,625 crore to INR 2,236 crore due to changing scope and requirements—the company has confirmed that the projects remain on track. Remaining unutilized funds are being maintained in bank accounts and fixed deposits to ensure liquidity for ongoing operational and capital needs.
Source: BSE
