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Lloyds Engineering Works Limited

LLOYDSENGG.NS
53
Industrial - Machinery · Industrials
Price
₹90.23
-1.10 (-1.20%)
Market Cap
₹121.27B
Exchange
National Stock Exchange of India
Winston Score
53
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Jul 28, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+27.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 982.9M (2022) → 1.25B (2026)

Operating from Mumbai, India, Lloyds Engineering Works Limited provides a comprehensive suite of engineering products and services. The company's capabilities extend across the entire project lifecycle, from initial design and engineering to manufacturing, fabrication, supply, erection, and final commissioning. They specialize in a diverse array of mechanical, hydraulic, structural, process, metallurgical, and chemical plant equipment. Their offerings include critical components such as marine and truck loading/unloading arms, various types of columns, pressure vessels, dryers, boilers, and significant capital equipment for both power and steel plants. Beyond equipment provision, Lloyds Engineering Works also manages and executes full-scale turnkey and Engineering, Procurement, and Construction (EPC) projects. Their client base spans numerous industries, including hydrocarbon, steel, nuclear, marine and defense, power generation, as well as port, jetty, and refinery operations. Founded in 1974, the company was formerly known as Lloyds Steels Industries Limited before officially changing its name in July 2023.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+113.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+112.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Cash Runway

~3 months

$4.9B cash & investments

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Lloyds Engineering Works Limited grew revenue 113% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
43.3%
Healthy — 43.3% gross margin
Operating Margin
11.0%
Modest — 11.0% operating margin
ROCE
3.2%
Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+53.8%
Fast-growing sales (53.8% YoY)
EPS YoY
+56.7%
Earnings growing fast (56.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion
-199%
Weak — only -199% of profit becomes cash
FCF Margin
-33.3%
Burning cash (-33.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
0.03
Conservative — low debt load (0.03)
Interest Cover
100.00x
Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
64.0x
Expensive — P/E 64.0

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend Yield
0.28%
Small dividend — 0.28% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
N/A
Data not available

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