Lloyds Metals raises standalone EBITDA 83% to 15,380 million rupees in second quarter
Key Facts
Lloyds Metals & Energy said standalone earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 15,380 million rupees in the second quarter of fiscal 2027, up 83% year on year. The company published unaudited results for the period ended September 30, 2026, on November 3, 2026. Standalone revenue from operations was 41,320 million rupees, up 62% from the second quarter of the previous fiscal year. The figures show annual growth in revenue and operating profit, with both declining quarter on quarter. The company said higher iron ore mining limits, the ramp-up of its pellet plant and improved sponge iron volumes drove EBITDA growth.
Standalone EBITDA margin was 37.22% in the second quarter, compared with 33.04% in the same period a year earlier, an increase of 419 basis points. But it was 195 basis points below the 39.17% recorded in the first quarter of fiscal 2027. The year-on-year comparison shows margin expansion, while the quarterly comparison points to a decline from the previous quarter. Standalone EBITDA was 21,202 million rupees in the first quarter before falling to 15,380 million in the second quarter, a drop of 27%. Operating profit was therefore above its year-earlier level but did not hold on to the previous quarter's level.
The quarterly pattern extended to standalone net profit, which the company reported at 11,119 million rupees in the second quarter, up 84% from the same period last year. Net profit was 15,269 million rupees in the first quarter, making the second-quarter result about 27% lower. The figures pair strong annual profit growth with a decline from the previous quarter. Revenue, meanwhile, rose year on year to 41,320 million rupees, while EBITDA and net profit fell quarter on quarter. The comparison shows that the results look different depending on the period used: year on year or quarter on quarter.
At the operating level, the company produced 3.95 million tonnes of iron ore in the second quarter, up 15.50% year on year, and sold 2.12 million tonnes. In the first half of the fiscal year, production reached 10.00 million tonnes, up 35.14% from the corresponding period, while sales totalled 7.59 million tonnes. Pellet production was 2.11 million tonnes in the second quarter and 3.81 million tonnes in the first half. The company said its second pellet plant began operations in May 2026. The data show iron ore and pellet production in the quarter and first half, alongside iron ore sales in both periods.
The company said operating its slurry pipeline reduced logistics and freight costs associated with iron ore. It added that an improved product mix and a higher contribution from value-added products, including pellets, supported margin expansion. These factors form part of the company's explanation for its performance, alongside higher mining limits, the ramp-up of the pellet plant and improved sponge iron volumes. The company reported an EBITDA margin of 37.22% in the second quarter, above its year-earlier level and below the previous quarter. Its explanation combines production and operating factors with ore transport costs and the composition of products sold.
The company set fiscal 2027 production guidance at 26 million tonnes for iron ore, 7.75 to 8 million tonnes for pellets and 825 thousand tonnes for direct reduced iron. This follows first-half production of 10.00 million tonnes of iron ore and 3.81 million tonnes of pellets. Second-quarter iron ore production was 3.95 million tonnes, and pellet production was 2.11 million tonnes. The guidance sets production targets for the rest of the fiscal year across the three areas identified by the company. Unaudited results for the period ended September 30 were published on November 3, 2026.