MARKET RESPONDS

LIOYDS METAL & ENERGY HITS NEW HIGH

Lloyds Metals & Energy's shares rose 9.3%, hitting <span class='webrupee'>₹</span>78, following strong Q1 FY25 results.

The company specializes in sponge iron (DRI), power generation, and iron ore mining.

Q1 FY25 saw a 23% year-on-year revenue increase to <span class='webrupee'>₹</span>24,231 million, and EBITDA rose by 32%.

Net profit increased by 38.2% year-on-year, reaching <span class='webrupee'>₹</span>5,574 million.

Revenue from pellet trading jumped to <span class='webrupee'>₹</span>2,128 million.

Produced 4 million tonnes in Q1 FY25, with dispatches of 3.6 million tonnes and a realization increase of 7%.

Production grew by 16% year-on-year to 76,704 tonnes, with flat realizations.

Invested INR 16,900 million in capex for FY24 and INR 5,984 million in Q1 FY25, maintaining a debt-free balance sheet.

Secured a 30-year extension for captive iron ore mines, extending the lease to 2057.

LMEL is strategically located, enabling effective marketing of surplus iron ore to nearby steel plants.