Lloyds Engineering Works Ltd (LLOYDSENGG) Q1 FY27 Results Analysis: PAT Surges 147%, Order Book Jumps 82%

Lloyds Engineering Works Ltd's Q1 FY27 numbers came in strong, with revenue of Rs. 355.82 Cr (+104.55% YoY) and PAT growth of +146.76% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quarter Snapshot

LLOYDSENGG delivered record quarterly revenue with standalone revenue more than doubling YoY and PAT surging 147%. The order book grew 82% to Rs.2,432 Cr, providing strong visibility. However, margin compression from elevated input costs and a loss in the electrical segment are near-term headwinds. The pending SISCOL acquisition and merger approvals are key catalysts for future growth.

Key Investment Insights

Key Positives

• Standalone revenue more than doubled YoY to Rs.355.82 Cr, the highest ever quarterly top-line.
• Consolidated revenue grew 142.92% YoY to Rs.527.15 Cr, driven by full-quarter contributions from Metalfab Hightech and Techno Industries.
• Standalone PAT grew 146.76% YoY to Rs.43.43 Cr, with no exceptional items or one-offs.
• Order book (standalone) increased 81.85% YoY to Rs.2,432.35 Cr, providing 6.8x coverage of quarterly revenue.
• EBITDA margin (standalone) improved QoQ to 16.87% from 15.49% in Q4 FY26, signaling recovery from the trough.

Risk Factors

• Standalone EBITDA margin compressed 2.07pp YoY to 16.87% due to raw material cost ratio increasing 7.35pp to 78.17% of revenue.
• Electrical segment swung to a loss of Rs.(6.93) Cr EBIT from a profit of Rs.10.78 Cr in Q4 FY26, indicating integration/restructuring challenges.
• Finance costs rose 98.52% YoY to Rs.2.68 Cr, reflecting working capital borrowings tied to order book ramp-up.
• Raw material cost pressure (steel prices) remains the primary margin headwind.