Lloyds Engineering Works Ltd receives orders for Steel Eco-Pickling and Marine Loading Arms

Lloyds Engineering Works Limited (LEWL) has secured orders exceeding ₹44 crores for the supply of Steel Eco-Pickling systems (₹50cr) and Marine Loading Arms (₹9.3cr). These orders mark a significant tipping point in the company's growth trajectory as they reinforce our technological and product capabilities in niche markets.

These new orders represent a milestone for LEWL, further solidifying the company's position in the specialised engineering products market.

In addition to establishing a first-mover advantage in India, these products offer enhanced margins due to their niche market demand.

Commenting on this development, Mr Shreekrishna Gupta, Whole-Time Director of Lloyds Engineering Works Limited, said: " These orders underscore our strategy of aligning our product offerings with niche, technologically advanced solutions. The Eco-Pickled Steel (EPS) technology is revolutionary, eliminating the use of environmentally harmful acids in the steel pickling industry, which is both costly and damaging. Given that 15-20% of all steel produced is pickled, this leaves a vast market over the next decade. EPS provides a cheaper setup and operational model and produces higher-quality pickled steel, catering to various end-user markets.

In addition, our loading arms leverage Japanese technology and expertise, manufactured in India. This 'Make in India' approach will give us a significant competitive advantage in both cost and market reach."

Earlier in FY24, LEWL signed multiple strategic technology agreements notably with -

i) Agreement with The Material Works, Ltd. (TMW) for the transfer of cutting-edge Eco Pickled Surface (EPS Gen 4) technology

ii) Agreement with TB Global Technologies Ltd (TBG) through which LEWL will provide Marine Loading Arms and Swivel Joints-engineering products that are the first of their kind in the Indian market.

With these advancements, LEWL continues to focus on innovation and market leadership, providing world-class engineering solutions to the Indian market and beyond.

Shares of Lloyds Steels Industries Limited was last trading in BSE at Rs. 79.98 as compared to the previous close of Rs. 81.04. The total number of shares traded during the day was 717281 in over 2761 trades.

The stock hit an intraday high of Rs. 83.65 and intraday low of 79.17. The net turnover during the day was Rs. 58764410.00.

Source : Equity Bulls

Keywords

LloydsEngineeringWorks INE093R01011 OrderWin SteelEcoPicklingSystems