Lloyds Metals And Energy (512455) Q4 25/26 earnings summary

Executive summary

• Achieved record high consolidated market cap of INR 1 lakh crore and record quarterly and annual revenue, EBITDA, and PAT for FY26, driven by strong operational leverage and improved product mix.

• Major operational ramp-up in iron ore, pellet, and DRI production, with significant capacity expansions and new project commissioning, including entry into copper and cobalt mining in DRC.

• Strategic collaborations, notably with Tata Steel, and investments in logistics and downstream integration to secure long-term growth and cost efficiency.

• Audited standalone and consolidated financial results for FY26 were approved with unmodified audit opinions; final dividend of 100% recommended.

• Acquisition of equity stake in Lloyds Panguna Metals and Energy Limited (LPMEL), Papua New Guinea, was approved to pursue mining opportunities.

Financial highlights

• FY26 standalone total income: INR 13,838 crores (up 104% YoY); EBITDA: INR 4,673 crores (up 133% YoY); PAT: INR 3,194 crores (up 120% YoY); EBITDA margin: 33.77%.

• Q4 FY26 standalone total income: INR 4,977 crores (up 310% YoY); EBITDA: INR 1,679 crores (up 498% YoY); PAT: INR 1,066 crores (up 368% YoY).

• FY26 consolidated total income: INR 16,822.43 crore (up from INR 6,626.31 crore YoY); consolidated PAT: INR 3,828.64 crore (up from INR 1,455.24 crore YoY).

• Value-added products contributed 32% of FY26 revenues, up from 20% in FY25.

• Standalone net profit margin for FY26 was 23.35%; consolidated net profit margin was 22.37%.

Outlook and guidance

• FY27 guidance: iron ore production at 26 million tonnes, pellet production at 7.75–8 million tonnes, DRI at 825,000 tonnes, and wire rod mill at 150,000–200,000 tonnes.

• Clear roadmap for copper and cobalt capacity expansion in DRC, targeting up to 100,000 TPA copper and 20,000 TPA cobalt in 3–5 years.

• Annual cost savings expected to surpass INR 2,000 crores by March 2028 from logistics and sustainability initiatives.