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, improved product mix, and major expansions in iron ore, pellets, DRI, and copper/cobalt mining in DRC.

• Strategic collaborations, including with Tata Steel, and investments in logistics, downstream integration, and sustainability initiatives underpin long-term growth and cost efficiency.

• Audited standalone and consolidated financial results for FY26 were approved with unmodified audit opinions; final dividend of 100% (Re. 1 per share) recommended.

• Board approved issuance of NCDs up to Rs. 700 crore and acquisition of equity stake in Lloyds Panguna Metals and Energy Limited (LPMEL), Papua New Guinea, for mining opportunities.

Financial highlights

• FY26 standalone revenue: 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%.

• FY26 consolidated revenue: INR 17,000 crores+, PAT: INR 3,829 crores, EBITDA margin: 36.60%.

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

• Standalone net debt as of March 2026: INR 3,901 crores; consolidated net D/E: 1.20x.

• Basic EPS (standalone) for FY26: Rs. 60.24; consolidated EPS: Rs. 69.42.

Outlook and guidance

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

• Copper and cobalt capacity in DRC targeted at up to 100,000 TPA copper and 20,000 TPA cobalt in 3–5 years.

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

• LPMEL acquisition in Papua New Guinea expected by June 2026, targeting long-term mining agreements.