Lloyds Metals & Energy Q1 Results 55.52% QoQ Revenue Growth and 22.98% YoY Revenue Increase

Lloyds Metals & Energy Q1 Results: In the first quarter of the fiscal year, Lloyds Metals & Energy showed strong financial growth. The company's total revenue was 2,417.24 crores, a significant increase of 55.52% from the previous quarter and a 22.98% rise compared to the same quarter last year. However, their selling, general, and administrative expenses jumped sharply to 1,309.27 crores, which is up 103.36% from the previous quarter. This increase in expenses could be due to higher operational costs or investments in the business.

Lloyds Metals & Energy’s depreciation and amortization costs increased by 13.38% from the last quarter, reaching 18.73 crores, while other operating expenses decreased by 11.54% compared to the previous quarter. Overall, their total operating expenses grew by 54.38%, leading to a total operating expense of 1,717.30 crores.

Despite these higher expenses, Lloyds Metals & Energy’s operating income rose by 58.40% to 699.94 crores. Their net income before taxes also saw a strong increase of 57.24%, reaching 703.87 crores. After taxes, the net income was 557.40 crores, more than double the previous quarter’s amount. Their diluted normalized earnings per share (EPS) increased significantly by 101.10% to 10.96, showing a substantial improvement in profitability.

Here's a simplified summary of Lloyds Metals & Energy Q1 financial results:

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Lloyds Metals & Energy Q1 Results

Lloyds Metals & Energy has released its financial results for the quarter ending June 30, 2024. The company earned ₹2,417.24 crore from its operations and an additional ₹5.82 crore in other income, making the total income ₹2,423.06 crore. The company's expenses for this quarter included costs like materials consumed (₹122.55 crore), purchase of traded goods (₹134.55 crore), and various other costs such as wages and interest, adding up to ₹1,719.11 crore in total expenses. 

This left the Lloyds Metals & Energy with a profit before tax of ₹703.95 crore. After accounting for taxes, including ₹16.53 crore in current tax and ₹557.48 crore in deferred tax, the profit after tax was ₹558.17 crore.

In comparison to the previous quarter, the total income has increased from ₹1,562.35 crore to ₹2,423.06 crore, and total expenses have also risen. The company's profit after tax has grown significantly compared to the previous quarter. For the same period last year, the profit was lower, showing an improvement in the company’s financial performance. 

Lloyds Metals & Energy’s earnings per share (EPS) for this quarter were ₹11.06, up from ₹5.49 in the previous quarter and ₹7.99 in the same quarter last year. The company's paid-up equity share capital remains the same at ₹50.53 crore, and its other equity has increased to ₹3,330.31 crore.

Here are the key financial results for Lloyds Metals and Energy for the quarter ended 30th June 2024, along with comparisons to the previous periods:

Lloyds Metals & Energy Financial Metrics

The table shows key financial information for Lloyds Metals & Energy. The company has a market cap of ₹41,376 crore, which means it's worth this much in total on the stock market. The current share price is ₹792, and the highest and lowest prices over a certain period were ₹811 and ₹485, respectively.

Here is the information presented in a simple table format:

Quarterly Results 

For Lloyds Metals & Energy, the financial data for December 2023, March 2024, and June 2024 shows a significant improvement. In December 2023, the company reported sales of ₹1,911 crores, with expenses of ₹1,463 crores and an operating profit of ₹448 crores. By March 2024, sales decreased to ₹1,554 crores, but operating profit rose to ₹458 crores, despite higher expenses of ₹1,096 crores. 

Here’s a simplified table with financial data for December 2023, March 2024, and June 2024:

About Lloyds Metals & Energy

Lloyds Metals & Energy (Lloyds) is a steel manufacturing company that was started in 1977. It was founded by Mr. Mukesh Gupta, Mr. B.L. Agarwal, and Mr. Rajesh Gupta. The company focuses on steel production and has expanded its operations across the entire steel manufacturing process, from mining iron ore to producing Direct Reduced Iron (DRI). In 2021, Lloyds partnered with Thriveni Earth Movers Pvt, a major mining company, to address challenges faced due to regional instability. This partnership helped the company restart full operations at its mines.

Lloyds Metals & Energy  was given a lease for iron ore mines in Surjagarh Village, Gadchiroli district, Maharashtra, in 2007. This lease was initially for 20 years and was later extended to 50 years under the MMDR Act of 2018. The iron ore reserves in this area are significant, with an estimated 90 million tonnes, 73.6 million tonnes of which are proven. The company's mining capacity is 3 million tonnes per annum (MTPA).

In addition to mining, Lloyds Metals & Energy is the largest coal-based DRI producer in Maharashtra, with a production capacity of 270,000 tonnes per annum and operates a 30 MW captive power plant. It is also building a new steel plant in Konsari, Gadchiroli district, to manufacture DRI with a capacity of 72,000 tonnes per annum.