Interim report
Page 1
03rd November, 2026 To, BSE Limited National Stock Exchange of India Limited Corporate Services Department Corporate Communications Department Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400001 Bandra (East), Mumbai - 400051 BSE Scrip Code: 512455 NSE Symbol: LLOYDSME Sub: Outcome of Board Meeting held on 03rd November, 2026 Dear Sir / Madam, This has reference to the intimation of meeting of Board of Directors (“Board”) of Lloyds Metals and Energy Limited (“Company”) dated 29th October, 2026 and in compliance with Regulation 30 and 51 of the Securities and Exchange Board of India (“ SEBI”) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ Listing Regulations”), we would hereby like to inform that the Board at its meeting held today, i.e. Tuesday, 03rd November, 2026 inter alia, approved the following: 1. Unaudited Financial Results and Statements (Standalone and Consolidated) for the Quarter and Half Year ended 30th September, 2026. A copy of Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2026 for the Financial Year 2026-27, along with the Limited Review Report issued by the Statutory Auditors is enclosed herewith. The aforesaid financial results have been duly reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at their respective meetings held today i.e. Tuesday, 03rd November, 2026. We would like to further inform you that the Statutory Auditors of the Company have conducted a Limited Review of the aforesaid financial results. We are enclosing herewith the following: a. The Unaudited Financial Results (Standalone and Consolidated) for the Quarter and Half year ended 30 th September, 2026 along with Limited Review Report issued by the Statutory Auditors thereon. b. Security Cover certificate in the prescribed format for the quarter ended 30th September, 2026, in terms of regulation 54 of Listing Regulations. c. Statement Indicating the utilization of issue proceeds of Non-Convertible Debentures and Nil Deviation and Variation in the use of issue proceeds for the quarter ended 30 th September, 2026 pursuant to Regulation 52(7) and (7A) of the Listing regulations read with Master circular dated 11th July, 2025.
Page 2
2. Grant of Employee Stock Options under the "Lloyds Metals and Energy Limited Employee Stock Option Plan - 2017" and “Lloyds Metals and Energy Employee Stock Option Scheme – 2024”. The Board of Directors of the Company has approved, the grant of 62,000 (Sixty -Two thousand Only) Employee Stock Options under the Lloyds Metals and Energy Limited Employee Stock Option Plan – 2017 (“ESOP 2017”) and 13,08,571 (Thirteen Lakh Eight Thousand Five Hundred and Seventy-One Only) Employee Stock Options under the Lloyds Metals and Energy Employee Stock Option Scheme 2024 (“ESOP 2024”) The details required pursuant to Regulation 30 of the Listing Regulations read with Clause B(10) of Annexure 18 of SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11 th November, 2024 (“Disclosure Circular”) are enclosed hereto as Annexure -A. 3. Approval for Capital Expenditure and Strategic Investment in Power Generation Initiatives and Renewable Energy Projects. a) Approval for Setting up of 360 MW Thermal Power Plant by the Company at Konsari, Maharashtra The Board of Directors of the Company has approved the establishment of a 2 × 180 MW Thermal power plant at Konsari, Maharashtra, with an aggregate installed capacity of 360 MW. The proposed power plant is primarily intended to meet the power requirements of the Company’s integrated operations at Hedri and Konsari. The details required pursuant to Regulation 30 of the Listing Regulations read with Clause B (3)(3.1) of Annexure 18 of Disclosure Circular, are set out under Annexure -B. b) Approval for Investment of upto 30% Stake in Renewable Energy Projects for Procurement of 168 MW Power through the Captive Route. The Board of Directors of the Company has accorded an enabling approval to the proposal for undertaking investments in renewable energy projects for captive consumption, in line with the Company's commitment towards sustainable and renewable sources of energy and to meet its long-term operational and energy requirements. In this regard, the Company is evaluating potential investment opportunities and associated power procurement arrangements for securing renewable energy capacity, envisaged to be implemented in one or more tranches. The details as required under Regulation 30 of the Listing Regulations read with Part A Clause A(1)(1.1) of Annexure 18 of the Disclosure Circular will be provided upon further approval of terms and conditions by the Board or Committee of the Board of Directors, as authorised by the Board of Directors.
Page 3
4. Approval for further investment in Thriveni Earthmovers and Infra Private Limited, subsidiary of the company, by way of subscription to rights issue / further issue of capital. The Board has approved investment in Thriveni Earthmovers and Infra Private Limited (“TEIL”), subsidiary of the Company, upto an aggregate value of Rs. 625 crores (Rupees Six Hundred Twenty-Five Crore Only), by way of subscribing to the rights issue / further issue of capital in one or more tranches offered by it. The details as required under Regulation 30 of the Listing Regulations read with Part A Clause A(1)(1.1) of Annexure 18 of Disclosure Circular are attached herewith as Annexure -C. 5. Approval for Raising of Funds through Issuance of Foreign Currency Denominated Notes) and/or INR Non-Convertible Debentures (“INR NCDs”) and/or Other Debt Securities in one or more tranches. The Board of Directors of the Company has approved raising of funds through the issuance of United States Dollar (“USD”) denominated senior secured or unsecured floating rate or fixed rate notes (“Notes”) and/or bonds / debentures / other debt securities (“ Securities”), in one or more tranches for an aggregate principal amount of up to USD 300 Million (United States Dollar Three Hundred Million Only), subject to receipt of all applicable regulatory and statutory approvals. The details required pursuant to Regulation 30 of the Listing Regulations read with Clause A(2)(2.1) of Annexure 18 of the Disclosure Circular, are set out under Annexure -D. The Board Meeting commenced at 03:57 P.M. (IST) and concluded at 05:11 P.M. (IST) The same will also be available on the Company’s Website at www.lloyds.in. The same may please be taken on record and suitably disseminated to all concerned. Thanking you. Yours faithfully. For Lloyds Metals and Energy Limited Akshay Vora Company Secretary Encl.: as above
Page 4
T odarwal ~ T odar\Val LLP Chartered Accountants Independent Auditor's Limited Review Report on the Quarterly/Half Yearly Unaudited Standalone Financial Results of the Company Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to, The Board of Directors Lloyds Metals and Energy Limited Plot No A-5/5, MIDC Industrial Area, Murbad, Thane MH 421401. Dear Sirs, Re: Limited Review Report of the Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2026 We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Lloyds Metals and Energy Limited for the quarter and half year ended September 30, 2026 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) , Regulations , 2015, ('the Regulation ') as amended (the "Listing Regulations"). This Statement which is the responsibility of the Company ' s Management and approved by the Board of Directors has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting "("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. We have conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity," issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become awar of all significant matters that might be identified in an audit. Accordingly , we do not ex ~~~iu n,n . . ~ ... ,o - <...o opm10n. ~ \\· ''-"'\ ~ ro ~e~ ~~'ft en -o \\\~ 1-'\ c $ ~\~~ ~ i'~ 0-::i \.;, e,G 112, Maker Bhavan No. 3., ist Floor, 21 New Marine Lines, Mumbai - 400 020 . INDIA. Tel: +91/22/22083115 / 22068264 J todarwal@todarwal .com I www .todarwal.com ICAI Regn.: W100231 J LLP Regn: AAJ/9964
Page 5
T odarwal ~ T odar\Val LLP Chartered Accountants Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of Unaudited Financial Results prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognized accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 of the Listing Regulations , including the manner in which it is to be disclosed, or that it contains any material misstatement. For Todarwal & Todarwal LLP Chartered Accountants ICAI Firm Reg No. - Sunil Todarwal Partner M. No.: 032512 UDIN: 26032512IHRRGS8034 Date: 03rd November, 2026 Place: Mumbai 112, Maker Bhavan No. 3., pt Floor, 21 New Marine Lines, Mumbai - 400 020. INDIA. Tel: +91~22~22083115 I 22068264 I todarwal@todarwal .com I www .todarwal .com ICAI Regn.: W100231 I LLP Regn : AA] ~9964 Page 2 of 2
Page 6
LLOYDS METALS AND ENERGY LIMITED Regd. Office : Plot No A 1-2, MIDC Area, Ghugus, Dist. Chandrapur , Maharashtra - 442 505 CIN-: L40300MH1977PLC019594 Website:www .lloyds .in Unaudited Standalone Financial Results for the Quarter and Half-Year Ended September 30, 2026 Sr. Quarter ended Half year ended No P arti cu la rs 1 2 3 4 5 6 7 8 9 Income (a) Revenue from Operations i) Gross Sales/ Income from operation ii) Other operating revenues (b) Other Income Total Income Expenses (a) Cost of Materials Consumed (b) Purchase of traded goods (c) Change in Inventories of Finished Goods, WIP and Stock-In-Trade (d) Employees Benefit Expe nses (e) Finance Costs (f) Depreciation (g) Mining, Royalty and Freight Expenses (h) Other Expenses Total Expenses Profit before tax(1 - 2) Tax Expense a) Current Tax b) Deferred Tax Profit after tax (3 - 4) Other Comprehensive Income (a) (i) Item that will not be reclassified to profit or loss (ii) Income tax effect on above (b) (i) Item that will be reclasified to profit or loss (ii) Income tax effect on above Total Comprehensive Income (5 + 6) Paid Up Equity Share Capital (Face Value of Re. 1 /- each) Other Equity Earnings per Share (not annualised for the quarter) Basic - In Rs. Diluted - In Rs. For and on behalf of Board of Directors of LI~ "'"'"""' Umlt,d Managing Director DIN: 00028379 Date: 3rd November, 2026 Place: Mumbai 30-Sep-26 (Unaudited) 3,962.87 169.16 88.57 4,220.60 664.14 54.40 125.75 102.41 119.34 1,353.24 396.42 2,815 .70 1,404.90 (400.05) 107.04 1,111.89 0.01 1,111 .90 56.30 14,405 .67 19.75 19.54 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 (Unaudited) (Unaudited) (UnAudited) (Unaudited) 5,353 .32 2,451 .98 9,316.19 4,829.01 59.58 96.00 228.75 98.85 95.39 27.39 183.97 55.95 5,508.29 2,575.37 9,728 .91 4,983.81 906.47 444.11 1,570.61 643.66 177.09 238.65 (37.91) (86.69) 16.49 (153.97) 126.09 87.30 251 .83 151 .10 107.15 26.16 209.55 40.63 100.33 54.66 219.67 82.45 1,972.15 901 .92 3,325 .39 2,122.09 325.91 182.52 722.33 304.51 3,500.19 1,787 .07 6,315.87 3,4 29 .12 2,008 . 10 788 .3 0 3,413 .04 1,554.69 (290.50) (187.09) (690.55) (268.65) (190.71) 4.37 (83.67) (45.88) 1,526.89 605. 58 2,638.82 1,240.16 0.01 (0.17) 0.01 (0.35) 1,526 .90 605 .41 2,638.83 1,239.81 56.29 52.64 56.30 52.64 13,240.15 7,761.62 14,405.67 7,761.62 27.1 3 11.54 46.89 23.66 26.87 10.80 46.38 22.08 (,. in Cr) Year ended 31-Mar-26 (Audited) 13,530.51 150.09 157.21 13,837 .80 2,305 .09 370.90 (675.89) 389.81 132.32 242.51 5,899.57 875.17 9,539 .48 4,298.33 (910.32) (1 93.71 ) 3,194 . 30 0.02 3,194 . 32 56.28 11,725.04 60.24 58.03
Page 7
LLOYDS METALS AND ENERGY LIMITED Regd. Office : Plot No A 1-2, MIDC Area , Ghugus, Dist. Chandrapur , Maharashtra - 442 505 CIN- : L40300MH1977PLC019594 Website :www .lloyds .in Unaudited Standalone Segmentwise information for the Quarter and Half-Year Ended 30th September, 2026 Quarter ended Year ended Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (Unaudited) (Unaudited) (Unaudited) (UnAudlted) (Unaudited) (Audited) 1 Segment Revenue a) Mining 1,531.49 3,502 .61 1,594.87 5,034.1 0 3,725 .89 10,149.68 b) Steel and related value added products 2,934.95 2,195 .1 8 1,200.17 5,130.12 1,516.97 4,438.34 Total Segmental Revenue 4,466.44 5,697 .79 2,795.04 10,164.22 5,242.86 14,588 .02 Less: Inter Segment Revenue 334.40 284.87 247.06 619.27 314.99 907.43 Net Sales / Income from Operations 4,132.03 5,412 .91 2,547.98 9,544.95 4,927 .86 13,6 80.59 2 Segment Results (Profit before Finance Costs and Tax) a) Mining 461.98 1,205 .22 405.01 1,667.21 1,139.17 2,930.75 b) Steel and related value added products 956.75 814.64 382.06 1,771.41 400.20 1,342.68 Total Segment Result 1,418.73 2,019 .84 787 .07 3,438 .62 1,539.37 4,273 .43 Less: Finance Cost (Net of other income) 13.83 11.76 (1.23) 25.58 (15.31 ) (24.89) Profit/ (Loss) before Tax 1,404 .90 2,008 .10 788.30 3,413.04 1,554.69 4,298.33 3 Segment Assets a) Mining 6,233.60 3,415.93 592.89 6,233.60 592.89 2,698.14 b) Steel and related value added products (including CWIP) 15,843.85 15,905.54 10,056.59 15,843.85 10,056.59 13,135.40 c) Unallocated 5,808.55 4,267.95 1,377.32 5,808.55 1,377.32 4,493.14 Total Assets 27,886 .00 23,589.42 12,026.80 27,886 .00 12,026 .80 20,326 .68 4 Segment Liabilities a) Mining 6,565.60 5,943 .66 1,792.85 6,565 .60 1,792 .85 3,512 .03 b) Steel and related value added products (including CWIP) 3,692.16 2,413.07 1,453.46 3,692.16 1,453.46 1,854 .00 c) Unallocated 3,166.26 1,936 .30 966.22 3,166.26 966.22 3,179.33 Total Liabilities 13 ,424.03 10, 293.03 4,212.53 13,424.03 4,212 .53 8,545.36
Page 8
LLOYDS METALS AND ENERGY LIMITED Regd. Office: Plot No A 1-2, MIDC Area, Ghugus, Dist. Chandrapur, Maharashtra - 442 505 CIN-: L40300MH1977PLC019594 Website:www.lloyds.in STANDALONE BALANCE SHEET AS AT 30th September 2026 ( :,: in Crores) Sr. Particulars As at 30th September As at 31st March, 2026 No 2026 ASSETS I Non-Current Assets (a) Property, plant and equipment 8,541.58 6,610.99 (b} Capital work in progress 8,210.67 5,739.06 (c) Right to use assets 126.85 126.96 (d) Financial assets (i) Investments 1,229.49 619.58 (e) Non-current tax assets - 20.85 (f) Other Non-current assets 3,406.37 2,052.16 Total Non Current Assets 21,514.96 15,169.62 II Current Assets (a) Inventories 928.92 876.43 (b) Financial assets (i) Investments 136.56 105.05 (ii) Trade Receivables 239.55 221.49 (iii) Cash and Cash Equivalent 223.66 554.97 (iv) Bank Balances other than (iii) above 405.05 317.64 (v) Loans 3,340.64 2,469.57 (c) Other current assets 1,096.65 611.90 Total Current Assets 6,371.03 5,157.05 TOTAL ASSETS 27,885.99 20,326.67 EQUITY AND LIABILITIES Ill Equity (a) Equity share capital 56.30 56.28 (b) Other equity 14,405.67 11,725.04 Total Equity 14,461.96 11,781.31 IV Liabilities Non Current Liabilities (a) Financial Liabilities (i) Long Term Borrowings 7,709.20 2,096.00 (ii) Lease Liabilities 73.52 73.02 (b) Other Non-current liabilities 45.73 35.96 (c) Provisions 59.49 51.03 (d) Deferred Tax Liabilities 353.10 269.43 Total Non Current Liabilities 8,241.02 2,525.44 V Current Liabilities (a) Financial Liabilities (i) Borrowings 1,872.06 3,323.39 (ii) Lease Liabilities 16.43 12.12 (iii) Trade Payables a) Total outstanding dues of micro enterprises 24.97 14.82 and small enterprises; and b) Total outstanding dues of creditors other 781.60 1,353.85 than micro enterprises and small enterprises (b) Other current liabilities 2,364.34 1,255 .63 (c) Provisions 22.15 17.62 (d) Current tax liabilities (Net) 101.45 42.51 Total Current Liabilities 5,183.01 6,019.92 TOTAL EQUITY AND LIABILITIES 27,885.99 20,326.67
Page 9
LLOYDS METALS AND ENERGY LIMITED Standalone Cash Flow Statement for the half year ended 30th September, 2026 ( ~ in Crores) For the year ended For the year ended S.N Particulars 30th Sep 2026 30th Sep 2025 (Unaudited) (Unaudited) A CASH FLOW FROM OPERATING ACTIVITIES Net Profit/(Loss) Before Tax 3,413.03 1,554.69 Adjustments for: Depreciation 219.67 82.45 Industrial Promotion Subsidy Refund (197.82) (94.90) Expense on Employee Stock Option Scheme (ESOP) 98.01 74.55 (Profit)/ Loss on disposal of Property, Plant and equipment (1.89) 0.23 (Profit)/ Loss on sale of share or investment 4.84 (4.19) Interest/Dividend Income (144.60) (39.96) Interest & Financial Charges 209.55 40.63 Operating Profit Before Working Capital Changes 3,600.78 1,613.50 Change in operating assets and liabilities (lncrease)/Decrease in Non-current/current financial and other assets (299.56) (193.49) (lncrease)/Decrease in Inventories (52.48) (622.54) lncrease/(Decrease) in Non-current/current financial and other liabilities/provisions 574.18 699.83 Cash Generated from Operations 3,822.93 1,497.30 Direct Taxes (Paid)/ Net of Refunds (610.76) (361.90) Net cash inflow (outflow) from operating activities (A) 3,212.17 1,135.40 B CASH FLOW FROM INVESTING ACTIVITIES: Purchase of Property, Plant & Equipment (6,052.32) (2,418.93) Right to Use Account (7.64) (9.34) Bank balance not considered as cash and cash equivalent (8.83) 61.40 (lncrease)/Decrease on Current Investment (36.35) 27.91 {lncrease)/Decrease on Investment in Subsidiaries (607.97) (70.00) {lncrease)/Decrease on Investment in Other Companies (1.94) (48.11) Loan to related party and others (Net) (871.07) 2.62 Sale of Property, Plant & Equipment 1.89 7.20 Interest/Dividend Received 144.60 39.96 Net cash inflow (outflow) from investing activities (B) (7,439.64) (2,407.30) C CASH FLOW FROM FINANCING ACTIVITIES: Interest & Financial Charges (209.55) (40.63) Proceeds/(Repayment) from borrowing (Net) 4,161.88 1,178.80 Proceeds from issue of Shares (including Share warrant and ESOP) 0.11 149.15 Dividend Paid (56.28) (52.32) Net cash inflow /(outflow) from financing activities (C) 3,896.16 1,234.99 Net Increase /(Decrease) in Cash & Cash Equivalents (A+B+C) (331.31) (36.91) Cash & Cash Equivalents as at the beginning of the year 554.97 39.29 Cash & Cash Equivalents as at the end of the year 223.66 2.38 Net Increase/ (Decrease) in Cash & Cash Equivalents (331.31) (36.91) Components of Cash and Cash equivalents (a) Cash on Hand 0.04 0.03 (b) Balance with Schedule Bank in : Current account 223.62 2.34 Total cash and Cash Equivalents 223.66 2.38
Page 10
Notes 1 The Statement of Unaudited standalone financial results ("the statement") of Lloyds Metals And Energy limited for the Quarter ended on 30th Sep, 2026 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 4th November, 2026. 2 These financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. 3 As per Ind AS 108- Operating Segments, the Company has two reportable Operating Segments namely "Mining of Iron Ore"and "Steel and related value added products". The financial information for these segments have been provided in Financial Results as per Ind AS 108- Operating Segments. 4 The Statutory Auditors of the Company have conducted limited review of the financial result for the quarter ended 30th Sep 2026. An unquallified report has been issued by them thereon . Details of Emclovee Stock Oction for the auarter and vear ended 30th Sec. 2026 are as follows · Llovds Metals and Enerl!V Limited Employee Stock Option Plan 2017 and 2024 Number of ootions outstandin2 at the be2innin2 of the oeriod Julv 1 2026 67,66,112 Number of options exercisable at the beginning of the period Julv 1 2026 2,73,323 Number of ootions Granted durin2 the oeriod Number of options Vested during the period 1,42 ,069 Number of ootions Laosed durin2 the oeriod 1,91,986 Number of options Exercised during the period 1,7 9,142 Number of actions outstandin11 at the end of the ceriod Sectember 30 2026 64,33,976 Number of options exercisable at the end of the peri od September 30 2026 2,34 ,331 6 During FY 2024-25 the Company issued preferential convertible warrants and, in FY 2025-26, allotted equity shares upon conversion of those warrants. The exercise raised gross proceeds of Rs. 2,722.83 crores. The details of utilisation of preferntial converti ble warrants of Rs. 2,722.83 crores is as follows : Sr. No. Object of the Issue of Placement Documents Amount Quarter ending 30th Sep Year ending 31st March allocated 2026 2026 Amount Un utilised Amount Unutilised Utilised Amount Utilised Amount 1 Funding of capital expenditure for expansion of ORI Plant and 714.74 391.87 38.64* 383.81 636.90* cower clant at Ghugus, Chandrapur . 2 Funding of capital expenditure for expansion of pellet 1327.38 1611.63 1021.43 capacity by setting up an additional lX 4 MTPA Pellet Plant at Konsari Ghadchiroli 3 General Corporate Purposes 680.71 680.69 680.69 Total 2722,83 2684,19 38,64 2085,93 636.90 • Unut1hsed amount was lying in HDFC Bank Rs. 38.64 crores (As at 31 March 2026: 166.71 crores) account which 1s presented under cash and cash equivalents and remaining amount shown as curre nt financial assets Rs. Nil (As at 31 March 2026: 470.19 crores) in the financial statements . 7 On 22 September 2026, Lloyds Metals and Energy Limited subscribed to the rights issue of equity shares of Thriveni Earthmovers and Infra Private Limited (TEIPL) in the ratio of one equity share for every 20 equity shares held as on the record date, i.e., 31 August 2026. Subsequently , on 29 September 2026, TEIPL allotted 3,50,00,000 equity shares to Lloyds Metals and Energy Limited at an issue price of ~173.36 per equity share, aggregating to ~606. 76 crore . 8 The Scheme of Amalgamation ("Scheme") of Thriveni Pellets Private Limited ("TPPL" or the "Transferor Company") with Brahmani River Pellets Private Limited ("BRPL" or the "Company"/"Transferee Company ") was approved by the Regional Director, South Eastern Region, Hyderabad, vide Order dated April 25, 2026.The certified copy of the Order was received by the Company on May 2, 2026 and was duly filed with the Registrar of Companies on May 21, 2026. Accordingly , in terms of the Scheme, the Effective Date of the amalgamation is May 21, 2026. As provided in the Scheme, the Appointed Date of the amalgamation is April 1, 2025. Accordingly , the amalgamation has been accounted for from the Appointed Date and the financial statements of BRPL have been prepared after giving effect to the Scheme from that date. Pursuant to the Scheme, the Company has issued and allotted equity shares to the eligible shareholders of TPPL i.e. Tata Steel Limited and Lloyds Metals and Energy Limited in accordance with the approved share exchange ratio. Pursuant to the amalgamation, there will be no change in the shareholding percentage of Lloyds Metals and Energy Limited in Brahmani River Pellets Private Limited (BRPL).
Page 11
9 Additional Information pursuant to Regulation 52(4) of Securities and Exchange Board of India (Listing oblidation and Disclousre Requirements) Sr. No. Particulars Quarter Ended (Unaudited) Half year Ended Year Ended (Unaudited) (Audited) 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar -26 1 Debt Equity Ratio 0.66 0.49 0.31 0.66 0.31 0.46 (Total Debt/Total Equity) 2 Debt Service Coverage ratio 0.81 1.15 0.55 1.94 1.07 1.35 (Earning before finance cost, depreciation and amortisation excluding other income/Debt and lease liabilities payb/e within one year service) - Not Annualized except for the year ended 31 March 2026 3 Interest Service coverage ratio 15.88 20.68 33.22 18.34 41.29 35.32 (Earning before finance cost, depreciation and amort isation/Finance cost) - Not Annulized except for the year ended 31 March 2026 4 Current Ratio 1.23 1.11 1.01 1.23 1.01 0.86 (Current Assets/Current Liabilities) 5 Long term debt to working capital 7.50 10.66 61.97 7.50 61.97 (4.11) (Non-current borrowings+ current maturities of long term borrowings)/(Current Assets - Current liabilities) 6 Bad debts to Accounts receivable ratio (Bad debt expense/ Closing Trade Receivable) 7 Current liability ratio 0.39 0.49 0.73 0.39 0.73 0.70 (Current liabilit ies/ Total Liabilities) 8 Tota l Debt to asset ratio 0.34 0.27 0.20 0.34 0.20 0.27 (Total Debts/Total Assets) 9 Debtors Turnover (No. of days) 5.69 5.97 10.86 4.83 9.90 5.18 (Average trade receivable/ Revenue from operations (multiplied by no. of days)) 10 Inventory Turnover(no. of days) 43.08 30.53 74.59 36.33 24.30 30.22 (Average inventory / Cost of goods sold (mu ltiplied by no. of 11 Operating EBITDA Margin (%) 37.22% 39.17% 33.04% 38.33% 32.91% 33.01% (Earnings before Depreciation , Interest and Tax excluding other income/ Revenue from operations) 12 Net Profit Margin (%) 26.34% 27.72% 23.51% 27.12% 24.88% 23.08% (Net profit after tax I Revenue from operations) 13 Paid up equity share capital (Face value of Rs. 1/- each) (Rs. In Crores) 56.30 56.29 52.64 56.30 52.64 56.28 14 Other Equity excluding redemption reserve and capital 14,405.67 13,240.16 7,761.62 14,405 .67 7,761.62 11,725.04 redemption reserves (Rs. In Crores) 15 Debenture Redemption Reserves (Rs. In Crores) 16 Capital Redemption Reserves (Rs. In Crores) 17 Share Application money pending 18 Outstanding redeemable Preference shares (in numbers) 19 Outstanding redeemable preference shares (Rs. In Crores) 20 Networth (Rs. In Crores) 14,461.96 13,296.43 7,814.26 14 461.96 7,814.26 11 781.31 10 The figures for the corresponding previous period have been regrouped/ reclassified wherever necessary, to make them comparable. 11 The results for the quarter ended 30th September, 2026 are available on the website of BSE at www .bseindia .com, NSE at www .nseindia.com and on Company's website at www.lloyds.in For and on behalf of the Board of Directors of Lloyds Metals and Energy Limite~d Rajesh Gupta Managing Director DIN: 00028379 Date : 3rd November, 2026 Place: Mumbai
Page 12
T odar\Val & T odanval LLP Chartered Accountants Independent Auditors' Review Report on the Unaudited Consolidated Financial Results for the Quarter and Half Year ended September 30, 2026 of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review report to, The Board of Directors Lloyds Metals and Energy Limited Plot No A 1-2, MIDC Area, Ghugus, Chandrapur MH 442505. Dear Sirs, Re: Limited Review Report of the Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2026. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Lloyds Metals and Energy Limited (the "Holding Company") and its subsidiary (the Holding Company and its subsidiary together referred to as the "Group") and its share of the net profit after tax and total comprehensive income of its associates for the quarter and half year ended September 30, 2026 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") read with SEBI Circular No. CIR/CFD/CMDl /44/2019 dated March 29, 2019 (the "Circular"). This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors in its meeting held on November 03, 2026, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34 ") "Interim Financial Reporting" prescribed under Section 133 of the Companies Act 2013 (the "Act") as amended, read with relevant rules issued thereunder, the circulars, guidelines and directions issued by the Reserve Bank of India ("RBI") from time to time and other accounting principles generally accepted in India and in compliance with regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. We have conducted our review of the Statement in accordance with the Standa Engagement (SRE) 2410, "Review of Interim Financial Information perfo 112, Maker Bhavan No. 3., pt Floor, 21 New Marine Lines, Mumbai - 400 020. I Tel: +91-- 22-- 22083115 / 22068264 I todarwal@todarwal.com I www .todarwal .com ICAI Regn.: W100231 J LLP Regn: AAJ-- 9964
Page 13
T odar""al & T odar""al LLP Chartered Accountants Independent Auditor of the Entity," issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of personnel responsible for financial and accounting matters , and applying analytical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opmton. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of Unaudited Financial Results prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognized accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Emphasis of Matter We draw attention to following paragraph included in the Limited review report of Thriveni Sainik Mining Private Limited (TSMPL), a step subsidiary of the Company, issued by another auditor vide their report dated 12-10-2026: "Attention is invited to the Trade Receivables to the Unaudited Standalone financial statements amounting to Rs. 468.71 Crores which includes 'Other receivables ' of Rs 321.44 Crores (as at 31st March 2026 Rs. 292.28 Crores) on account of HPC wages reimbursement recoverable from its customer 'NTPC '. The Company had earlier obtained a favourable adjudication order dated November 23, 2021, granting reimbursement of HPC wages. However , NTPC filed an application before the Arbitral Tribunal. Subsequently , on mutual consent, both parties withdrew arbitration proceedings to take up the matter before the Conciliation Committee of Independent Experts (CCIE). Eight conciliation meetings were held, and the committee, via its communication dated April 15, 2024, proposed NTPC to reimburse the Company for the period already elapsed, along with suitable adjustments for future payments . However , NTPC did not accept the meeting held on June 14, 2024, leading to termination of the conciliation proc 112, Maker Bhavan No. 3., 1st Floor, 21 New Marine Lines, Mumbai - 400 020. INDIA. Tel: +91-- 22-- 22083115 / 22068264 J todarwal@todarwal .com I www.todarwal .com ICAI Regn .: W100231 J LLP Regn: AAJ-- 9964
Page 14
T odar""al ~ T odar""al LLP Chartered Accountants Thereafter, the Company filed a civil suit before the Hon'ble Delhi High Court seeking reimbursement of the differential HPC wages paid till date and for future payments. The management believes that the claim will be decided in favour of the Company. Our opinion given by the other auditor is not modified in respect of this matter. Other Matters: 1. This Statement includes the results of the following: Name of Subsidiaries: a. Lloyds Steel Private Limited (Formerly known as "Lloyds Logistics Private Limited") b. Thriveni Earthmovers and Infra Pvt Ltd c. Lloyds Global Resources FZCO (LGRF) d. Lloyds Infinite Foundation e. Lloyds Ferra Forge Global Pvt Ltd Name of Associates: a. Brahmani River Pellets Private Limited (Formerly known as "Brahmani River Pellets Limited") b. LT Gondwana Skill Hub Private Limited c. Nexus Holdco FZCO (Consolidated) Name of Step-Down Subsidiaries: 1. Thriveni Transport and Logistics Private Limited 2. Maa Tarani Logistics Limited 3. Thriveni Sainik Mining Private Limited 4. Thriveni Resomin Pte Limited, Singapore 5. Thriveni International Limited, Dubai 6. Mangampet Barytes Project 7. KJS Pellets & Power Private Limited 8. Thriveni Sainik PBNW Private Limited 9. Thriveni Logistics Services LLP 10. Virtus Lloyds Minerals Holding 11 . LGRF South Africa (PTY) Ltd 12. TP Phoenix (PTY)Ltd 13. Virtus Lloyds Resources FZCO 14. Lloyds Panguna Metals & Energy Limited 15. Vector Asset Holdings Ltd 16. Thriveni Earthmovers and Infra Ltd-PNG 17. ChemafGroup Limited, ISLE of MAN 18. Chemaf Resources Limited 19. Horizon Capital Limited 112, Maker Bhavan No. 3., pt Floor, 21 New Marine Lines, Mumbai - 400 0 Tel: +91-- 22-- 22083115 / 22068264 J todarwal@todarwal .com I www .todarwal .com ICAI Regn .: W100231 J LLP Regn: AAJ-- 9964
Page 15
T odarwal & T odar\Val LLP Chartered Accountants 20. Chemical of Africa SA- Chemaf SA 21. PT Thriveni Indonesia 22. Maloba Infra and Mining SAS 23. Thriveni Infra and Mining SARL 24. PT Thriveni Resomin Indonesia 25. PT Energi Dua Rajawali 26. PT Tambang Nusantara Perdana 27. PT Minemix, Indonesia 28. PT Karyabakti Project 29. PT Indo Borneo Asia International 3 0. PT Thri veni Indo Mining Indonesia 31. Cloudcruze Aviation Services IFSC Pvt Ltd 32. Thriveni Resomin Australia Pty Limited 2. "The Consolidated Financial Results include the unaudited interim financial statements and other financial information of five subsidiaries: Lloyds Steel Private Ltd (Formerly known as "Lloyds Logistics Private Limited"), Thriveni Earthmovers and Infra Pvt Ltd, Lloyds Global Resources FZCO, Lloyds Infinite Foundation and Lloyds Ferra Forge Global Private Limited which have been audited by other auditors, whose financial result reflect total assets of Rs. 2.97 crores, Rs. 11 ,094.21 crores, Rs. 16,737.79 crores, Rs. 335.94 crores and Rs. 4.43 crores respectively, total revenue of Rs. NIL, Rs.1936.36 crores, Rs.332.97 crores, Rs.77.41 crores, Rs.0.57 crores and Rs. NIL, Rs.4608.22 crores, Rs. 853.87 crores, Rs. 166.01 crores, Rs. 0.57 crores for the quarter and half year ended September 30, 2026 respectively, total net profit/ (loss) after tax of Rs.(0.05) crores, Rs.14.00 crores, Rs.(74.81) crores, Rs.32.94 crores, Rs.(1.59) crore and Rs.(0.10) crores, Rs.34 7.40 crores, Rs.(245 .22) crores, Rs.84.07 crore, Rs. ( 1.60) crores for the quarter and half year ended September 30, 2026 respectively, total comprehensive income/(loss) of Rs.(0.05) crores, Rs.(22.56) crores, Rs.(75.30) crores, Rs.33.13 crores, Rs.(1.59) crores and Rs.(0.10) crores, Rs.289.13 crores, Rs.(245.67) crores, Rs.84.43 crores, Rs.(1.60) for the quarter and half year ended September 30, 2026 3. Additionally, the Statement includes the Group's share of net profit/(loss) after tax of Rs.18.35 crores, Rs. 0.20 crores & Rs. (52.14) crores and Rs.42.51 crores, Rs.0.41 crores & Rs. (85.97) crores for quarter and half year ended respectively for its associates, Brahmani River Pellets Private Ltd, LT Gondwana Skill Hub Pvt Ltd and Nexus Holdco FZCO(Consolidated) , which reported respectively. Our assessment is based on independent audit report or, where unavailable, on financial statements certified by management. 4. We have not audited the step-down subsidiaries included in these consolidated results. Instead, our assessment is based on independent audit reports or, where unava· 0 ia,-11' financial statements certified by management. l N QI.,.,< "b Regn. o. < ~ 111009W/ : ~ W100231 ~ c:::, 112, Maker Bhavan No. 3., 1st Floor, 21 New Marine Lines, Mumbai - 400 020. "/'. co~~ Tel: +91-- 22-- 22083115 I 22068264 I todarwal@todarwal .com I www .todarwal .com ICAI Regn .: W100231 I LLP Regn : AAJ-- 9964
Page 16
T odarwal & Todarwal LLP Chartered Accountants 5. These unaudited interim Financial Statements have been furnished to us by the Management and our opinion on the Consolidated Financial Results, in so far as it relates to the amounts and disclosures included in respect of the Subsidiary is based solely on such unaudited interim Financial Statements. Based on our review conducted and procedures performed as stated in paragraph 3 above, and based on the consideration of the reports of the other auditors referred to in paragraph 5 above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited financial results, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standard specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation , read with the Circular, including the manner in which it is to be disclosed , or that it contains any material misstatement. Our opinion on the Consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the Financial Results/financial information certified by the Management and reviewed by the respective auditors. For Todarwal & Todarwal LLP Chartered Accountants ICAI Firm Reg S unil Todarwal Partner M. No.: 032512 UDIN: 26032512FRLHKR7165 Date: 03rd November, 2026 Place: Mumbai 112, Maker Bhavan No. 3., 1st Floor, 21 New Marine Lines, Mumbai - 400 020. INDIA. Tel: +91-- 22-- 22083115 / 22068264 I todarwal@todarwal .com I www.todarwal.com ICAI Regn .: W100231 J LLP Regn : AAJ-- 9964
Page 17
Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 LLOYDS METALS AND ENERGY LIMITED Regd. Office: Plot No A 1-2, MIDC Area, Ghugus, Dist. Chandrapur, Maharashtra - 442 505 CIN-: L40300MH1977PLC019594 Website:www.lloyds .in UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30th SEPT, 2026 Quarter ended Half Year ended Particulars Income (a) Revenue from Operations i) Gross Sales/ Income from operation ii) Other operating revenues (b) Other Income Total Income Expenses (a) Cost of Materials Consumed (b) Purchase of traded goods (c) Change in Inventories of Finished Goods, WIP and Stock-In-Trade (d) Employees Benefit Expenses (e) Finance Costs (f) Depreciation (g) Mining, Royalty and Freight Expenses (h) Other Expenses Total Expenses Profit before share of profit of associates ft tax(1 - 2) Share of profit/(loss) of associates Profit before tax(3+4) Tax Expense a) Current Tax b) Deferred Tax Profit after tax ( 5 - 6) Profit after tax attributable to: a) Shareholders of the Company b) Non-controlling interests Other Comprehensive Income (a) (i) Item that will not be reclassified to profit or loss (ii) Income tax effect on above (b) (i) Item that will be reclassified to profit or loss (ii) Income tax effect on above Total Comprehensive Income (7 + 9) Total Comprehensive Income attributable to: a) Shareholders of the Company b) Non-controlling interests Paid Up Equity Share Capital (face Value of Re. 1 /- each) Other Equity and Non Controlling interest Earnings per Share (not annualised for the quarter) Basic - In Rs Diluted - In Rs Managing Director DIN : 00028379 Date : 3rd November, 2026 Place: Mumbai 30-Sep-26 30-Jun-26 (Unaudited) (Unaudited) 5,417.79 7,084.32 254.74 65.79 39.53 146.84 5,712.06 7,296.95 767.29 875.20 2.80 7.57 78.79 (3.32) 391.84 393.39 278.68 253.98 225. 96 244.50 1,895.91 2,455.25 732.33 629.97 4,373.60 4,856.54 1,338.46 2,440.41 (27.17) (1.18) 1,311.29 2,439.23 (440.85) (475. 79) 152.80 (195.70) 1,023.24 1,767.74 1,045.62 1,727.89 (22.38) 39.85 0.76 (0.39) (0.98) 0.14 (36.18) (21.25) 986.84 1,746.24 1,019.50 1,711.68 (32.66) 34.56 56.30 56.28 18,589.69 15,875.1 0 18.57 30.70 18.38 30.40 30-Sep-25 30-Sep-26 30-Sep-25 (Unaudited) (Unaudited) (Unaudited) 3,540.65 12,502.11 5,917.68 111.46 320.53 117.95 56.09 186.37 83 .66 3,708.20 13,009.01 6,119.29 483.72 1,642.49 683.27 177.84 10.37 239.40 (39.12) 75.47 (106.40) 367.29 785.23 431.08 175.80 532.66 190.43 168.38 470.46 199.75 1,230.71 4,351.16 2,439.92 403.67 1,362.30 514.64 2,968.29 9,230.14 4,592.09 739.91 3,778.87 1,527.20 (28.35) 739.91 3,750.52 1,527.20 (198.53) (916.64) (283.21) 9.69 (42.90) (41.06) 551 .07 2,790 .98 1,202.93 556.04 2,773.51 1,207.90 (4.97) 17.47 (4.97) (0.18) 0.37 (0.35) (0.84) 9.98 (57.43) 9.98 560.87 2,733.08 1,212.56 565.84 2,731 . 18 1,217.53 (4.97) 1.90 (4.97) 52.64 56.30 52.64 8, 158.41 18,589.69 8,158.41 11.04 49.28 23.16 10.33 48.75 21.61 ('l:. in Cr) Year ended 31-Mar-26 (Audited) 16,822.43 290.24 193.73 17,306.40 2, 167.40 370. 90 (719.65) 1,292.92 510.36 607.16 5,910.86 1,950.08 12,090.03 5,216.37 20.61 5,236.98 (1,224.94) (183.40) 3,828.64 3,680.85 147.79 12.90 (3.01) 77.99 3,916.52 3,751.22 165.30 56.28 14,209.77 69.42 66 .87
Page 18
Sr. No. 1 2 3 4 LLOYDS METALS AND ENERGY LIMITED Regd. Office: Plot No A 1-2, MIDC Area, Ghugus, Dist. Chandrapur, Maharashtra - 442 505 CIN-: L40300MH1977PLC019594 Website:www.lloyds.in Unaudited Consolidated Segmentwise information for the Half Year ended 30th Sept, 2026 Quarter ended Half Year ended Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment Revenue a) Mining 1,531 .49 3,502.60 1,591.23 5,034.10 3,725.89 b) Steel and related value added products 3,189.99 2,269.25 1,200.17 5,459.24 1,516.97 c) MDO Operation and other related services 2,016.86 2,762.40 1,655.59 4,779.26 1,655.59 d) Copper and related product 333. 93 190.81 524.74 Total Segmental Revenue 7,072.27 8,725.06 4,446.99 15,797.34 6,898.45 Less: Inter Segment Revenue 1,399.74 1,574.96 794.88 2,974.70 862.82 Net Sales / Income from Operations 5,672.53 7,150.12 3,652.11 12,822.64 6,035.63 Segment Results (Profit before Finance Costs and Tax) a) Mining 461. 98 1,205.23 393. 75 1,667.21 1,139.17 b) Steel and related value added products 960.19 816.15 371.27 1,776.34 400.20 c) MOO Operation and other related services 137.20 581.68 94.60 718.88 94.60 d) Copper and related product 18.24 (55 .51) (37.27) Total Segment Result 1,577.61 2,547.55 859.62 4,125.16 1,633.97 Less: i) Finance Cost (Net of other income) 239.15 107.14 11 9.71 346.29 106.77 Add: i) Share of profit/ (loss) of associates (27.17) (1.18) (28.35) Profit/ (Loss) before Tax 1,311.29 2,439 .23 739.91 3,750.52 1,527 .20 Segment Assets a) Mining 6,233.60 3,415.93 592.89 6,233.60 592.89 b) Steel and related value added products (incl uding CWIP) 15,843.85 15,905.54 10,056.56 15,843.85 10,056.56 c) MOO Operation and other related services 7,583.40 7,651 .39 8,106.36 7,583.40 8,106.36 d) Copper and related product 15,698.01 13,136.18 15,698.01 e) Unallocated 6,198.43 4,601.89 1,470.37 6,198.43 1,470.37 Total Assets 51,557.29 44,710.93 20,226.18 51,557.29 20,226 .1 8 Segment Liabilities a) Mining 6,565.66 2,356.70 871 .25 6,565.66 871 .25 b) Steel and related value added products (including CWIP) 3,692.16 1,065.98 663.53 3,692.16 663.53 c) MOO Operation and other related services 6,548.58 7,517.25 7,761.52 6,548.58 7,761.52 d) Copper and related product 12,802.20 10,950.70 12,802.20 e) Unallocated 3,302.70 6,888.92 2,718.84 3,302.70 2,718.84 Total Liabilities 32,911.30 28,779.55 12,015 . 14 32,911.30 12,015.14 ('{. in Cr) Year ended 31-Mar-26 (Audited) 10,149.68 4,438.34 6,302.79 20,890.81 3,778.14 17,112.67 2,930.75 1,342.67 1,268.84 (9.26) 5, 533.00 316.63 20.61 5,236.98 2,698.14 13, 135.40 7,232.80 14,323.16 4,260.37 41,649.87 1,612.30 977. 96 6,908.02 11 ,884.94 6,000.60 27,383.82
Page 19
LLOYDS METALS AND ENERGY LIMITED Regd. Office: Plot No A 1-2, MIDC Area, Ghugus, Dist. Chandrapur, Maharashtra - 442 505 CIN-: L40300MH1977PLC019594 Website:www.lloyds.in CONSOLIDATED BALANCE SHEET AS AT 30th September 2026 (tin Crores) Sr. No Particulars As at 30th Sept, 2026 As at 31st March, 2026 ASSETS 1 Non-current assets (a) Property, plant and equipment (b) Capital work-in-progress (c) Right-of-use assets (d) Goodwill on consolidation (e) Other intangible assets (f) Financial assets (i) Investment (ii) Loans (iii) Others (g) Non-Current tax assets (net) (h) Other non-current assets Total non-current assets 2 Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Others (c) Current tax assets (net) (d) Other current assets Total current assets Total assets (1 +2) EQUITY AND LIABILITIES 1 Equity (a) Equity share capital (b) Other equity Equity attributable to the owners of the company Non controlling Interest Total equity Liabilities 2 Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other financial liabilities (b) Provisions (c) Other non-current liabilities (d) Deferred tax liabilities (net) Total non-current liabilities 3 Current liabilities (a) Financial liabilities (i) Borrowings (ii) Trade payables - Total outstanding dues of micro and small enterprises - Total outstanding dues of creditors other than micro and small (iii) Lease liabilities (iv) Other financial liabilities (b) Provisions (c) Current tax liabilities (net) (d) Other current liabilities Total current liabilities Total eauitv and liabilities (1+2+3) 12,576.00 9,992.48 18,174.29 13,946.08 325.59 388.06 1,175.23 1,695.10 1,912.79 1,093.23 1,075.19 560.63 860.86 47.44 13.15 8.71 88.80 101.04 5,644.61 3,993.20 41,846.51 31,825.97 2,193.70 2,659.60 136.56 105.06 1,755.31 1,480.51 1,247.49 2,121.86 633.13 581.07 351.16 889.55 333.75 111.00 67.85 54.21 2,991.83 1,821.04 9 710.78 9,823.90 51 557.29 41,649.87 56.30 56.28 16,151.48 12,527.14 16,207.78 12,583.42 2,438.21 1,682.63 18,645.99 14,266.05 18,140.46 13,849.25 221.17 259.30 40.61 24.37 249.30 120.28 2,134.05 831.01 244.05 201.65 21,029.64 15,285.86 4,550.14 6,531.18 112.18 102.24 2,650.47 2,561.99 93.10 76.63 530.65 475.11 79.54 69.09 179.87 141.67 3,685.71 2,140.05 11,881.66 12,097.96 51.557.29 41 649.87
Page 20
LLOYDS METALS AND ENERGY LIMITED Regd. Office : Plot No A 1-2, MIDC Area, Ghugus, Dist. Chandrapur, Maharashtra - 442 505 CIN-: L40300MH1977PLC019594 Website:www.lloyds.in Consolidated Cash Flow Statement for the period ended 30th Sept, 2026 ( f in Crores) S.N Particulars For the half year ended For the half year ended 30th Sept, 2026 30th Sept, 2025 A Cash flows from operating activities Profit before tax from continuing operations (after exceptional item before tax) 3,778.87 1,533.25 Profit before tax from discontinued operations Adjustments for: Depreciation and amortisation expense 470.46 197.26 Expense on Employee Stock Option Scheme (ESOP) 94.35 74.55 Profit/Loss on disposal of property, plant and equipment (33.14) 0.25 Profit/Loss on sale of share or investment 4.84 (4.19) Finance costs 532.66 190.43 Interest/Dividend income (107.35) (17.74) Mark to Market Loss on Derivative Financial Instrument (8.44) 4.48 Operating profit before working capital changes 4,732.25 1,978.29 Movements in working capital: (lncrease)/Decrease in Non-current/current financial and other assets (3,324.19) (625.73) (lncrease)/Decrease in Inventories 465.90 (637.01) lncrease/(Decrease) in Non-current/current financial and other 3,121.06 (1 ,950.97) liabilities/provisions Cash generated from operations 4,995.02 1 (1,235.42) - Income taxes paid (880.34) (395.28) Net cash generated by/ (used in) operating activities 4.114.68 (1 630.70) B Cash flows from investing activities Interest/Dividend received 107.35 17.74 Loans made to Related parties and others (275.03) (87.89) Purchase of Property, Plant & Equipment (net) (7,619.83) (2,863.72) Bank Balances not considered as cash and cash equivalents (52.06) 519.81 (lncrease)/Decrease on Current Investment (36.34) 27.91 Net cash outflow on acquisition of investments in Subsidiaries - (70.00) Investment in others 1.96 (48.36) Net cash (used in) by investing activities (7,873.95) (2,504.52) C Cash flows from financing activities Proceeds from issue of Shares (including share warrant and ESOP) 0.11 149.15 Dividend Paid (56.28) (52.32) Proceeds/ (Repayment) from Borrowings (net) 2,973.83 3,757.84 Proceeds on dilution of partial interest in a subsidiary that does not 499.90 (19.14) involve loss of control (net) Interest & Financial Charges (532.66) (190.43) Net cash generated by financing activities 2,884.90 3 645.10 Net Increase I (decrease) in Cash and cash equivalents (A+B+C) (874.37) (490.12) Cash and cash equivalents at the beginning of the period 2,121.86 39.95 Cash and cash equivalents on acquisition of subsidiary - 519.61 Cash & Cash Equivalents as at the end of period 1,247.49 69.44 Net Increase/ (Decrease) in Cash & Cash Equivalents (874.37) (490.12)
Page 21
Notes The Statement of Unaudited Consolidated Financial Results ("the statement") of Lloyds Metals And Energy Limited (the "parent" or the "company") and its subsidiaries (the parent and its subsidiaries together referred to as "the Group") for the Half Year ended on 30th Sept, 2026 have been approved by the Board of Directors at the meeting held on 3rd November, 2026. These Consolidated Financial Results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. As per Ind AS 108- Operating Segments, the Company has four reportable Operating Segments namely "Mining of Iron Ore", "Steel and related value added products", "MOO Operation and related services" and "Copper and related products 11. The financial information for these segments have been provided in Consolidated Financial Results as per Ind AS 108- Operating Segments. The Statutory Auditors of the Company have conducted limited review of the financial result for the Half Year ended 30th Sept 2026. An unqualified report has been issued by them thereon. Details of Employee Stock Option for the quarter and vear ended 30th Sep, 2026 are as follows· Lloyds Metals and Energy Limited Employee Stock Option Plan 2017 and 2024 Number of options outstandinR at the beRinninR of the oeriod Julv 1,2026 67,66,112 Number of options exercisable at the beginning of the period July 1,2026 2,73,323 Number of ootions Granted durinR the period Number of opt ions Vested durinR the oeriod 1,42,069 Number of options Lapsed during the period 1,91,986 Number of ootions Exercised durinR the period 1,79,142 Number of options outstandinR at the end of the oeriod Seotember 30, 2026 64,33,976 Number of options exercisable at the end of the period September 30, 2026 2,34,331 During FY 2024-25 the Company issued preferent ial convertible warrants and, in FY 2025-26 , allotted equity shares upon conversion of those warrants. The exercise raised gross proceeds of Rs . 2,722.83 crores. The details of utilisation of preferntial convertible warrants of Rs. 2,722.83 crores is as follows : Sr. No. Object of the Issue of Placement Documents Amount Quarter ending 30th Sept Year ending 31st March 2026 allocated 2026 Amount Unutilised Amount Utilised Unutilised Utilised Amount Amount 1 Funding of capital expenditure for expansion of ORI 714.74 391.87 383,81 Plant and power plant at Ghugus, Chandrapur. 2 Funding of capital expenditure for expansion of 1327,38 1611.63 1021.43 pellet 38.64· 636.90. capacity by setting up an additional l X 4 MTPA Pellet Plant at Konsari, Ghadchiroli 3 General Corporate Purposes 680,71 680,69 680,69 Total 2722 .83 2684 ,19 38.64 2085.93 636.9 • Unut,1,sed amount was lying in HDFC Bank Rs. 271.12 crores (As at 31 March 2026: 166.71 crores) account which ,s presented under cash and cash equivalents and remaining amount shown as current financial assets Rs. Nil (As at 31 March 2026: 470.19 crores) in the financial statements . On 22 September 2026, Lloyds Metals and Energy Limited subscribed to the rights issue of equity shares of Thriveni Earthmovers and Infra Private Limited (TEIPL) in the ratio of one equity share for every 20 equity shares held as on the record date , i.e., 31 August 2026. Subsequent ly, on 29 September 2026, TEIPL allotted 3,50,00,000 equity shares to Lloyds Metals and Energy Limited at an issue price of 'o:173.36 per equity share, aggregating to ~606.76 cror e. The Scheme of Amalgamation ("Scheme") of Thriven i Pellets Private Limited ("TPPL" or the "Transferor Company") with Brahmani River Pellets Private Limited ("BRPL" or the "Company"/"Transferee Company") was approved by the Regional Director, South Eastern Region, Hyderabad, vide Order dated April 25, 2026.The certified copy of the Order was received by the Company on May 2, 2026 and was duly filed with the Registrar of Companies on May 21, 2026. Accordingly , in terms of the Scheme, the Effective Date of the amalgamation is May 21, 2026. As provided in the Scheme, the Appointed Date of the amalgamation is April 1, 2025. Accordingly, the amalgamation has been accounted for from the Appo inted Date and the financial statements of BRPL have been prepared after giving effect to the Scheme from that date . Pursuant to the Scheme, th e Company has issued and allotted equity shares to the eligible shareholders of TPPL i.e. Tata Steel Limited and Lloyds Metals and Energy Limited in accordance with the approved share exchange ratio . Pursuant to the amalgamation, there will be no change in the shareholding percentage of Lloyds Metals and Energy Limited in Brahman i River Pellets Private Limited (BRPL). ~ I
Page 22
Additional Information pursuant to Regulation 52(4) of Securities and Exchange Board of India (Listing oblidation and Disclousre Requirements) Quarter Ended Half Year ended Sr. No. Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 1 Debt Equity Ratio 1.22 1.33 0.98 1.22 0.98 (Toto/ Debt/Total Equity) 2 Debt Service Coverage ratio 0.38 0.56 0.40 1.00 0.72 (Earning before finance cost, depreciation and amortisation excluding other income/Debt ond lease liabilities paybfe within one year service) • Not Annualized except for the year ended 31 March 2026 3 Interest Service coverage ratio 6.52 9.73 6.17 8.92 10.07 (Earning before finance cost, depreciation and amortisation / Finance cost) - Not Annufized except for the year ended 31 March 2026 4 Current Ratio 0.82 0,84 1.03 0.82 1.03 {Current Assets/Current Liabilities) 5 Long term debt to working capital (9,97) (10.16) 33,72 (9,97) 33.72 {Nan-current borrowings+ current maturities of long term borrowings)/(Current Assets - Current liabilities) 6 Bad debts to Accounts receivable ratio 0,00 0.00 (Bad debt expense/ Closing Trade Receivable) 7 Current liabil ity rat io 0.36 0.40 0.51 0.36 0.51 (Current liabilities/ Total Liabilities) 8 Total Debt to asset ratio 0.44 0.46 0.40 0.44 0.40 (Toto/ Debts/Total Assets) 9 Debtors Turnover (No. of days) 17.06 11.41 21.12 46.05 25.55 (Average trade receivable I Revenue from operations (multiplied by no. of days)) 10 Inventory Turnover(no . of days) 46.83 45.60 42.00 535.87 47.81 (Average inventory I Cost of goods sold (multiplied by no. of days) 11 Operating EBITA Margin( %) 31.32% 38.26% 28.15% 37.07% 30.38% (Earnings before Depreciation, Interest and Tax / Revenue from operations) 12 Net Profit Margin (%) 17.91% 23.17% 14.86% 21.77% 19.66% (Net profit after tox I Revenue from operations ) 13 Paid up equity share capital (Face value of Rs. 1/- each) (Rs. In Crores) 56,30 56.28 52.64 56.30 52.64 14 Other Equity excluding redempti on reserve and capital redemption reserves (Rs. In Crores) 16,661.93 15,423.44 7,574.87 16,661.93 7,574.87 15 Debenture Redemption Reserves (Rs. In Crores) 6.50 6.50 16 Capital Redemption Reserves (Rs. In Crores) 77.79 77.79 77.73 77.79 77.73 17 Share Application money pending 18 Outstanding redeemable Preference shares (in numbers) 13,77,22,724 13,77,22,724 21,57,22,274 21,57,22,274 21,57,22,274 /including issued by subsidiary companies) 19 Outstanding redeemable preference shares (Rs. In Crores) 1,377.23 1,377.23 2,157.22 2,157.22 2,157.22 20 Networth (Rs. In Crores) 18,645.99 15,941.59 8,159.07 18,645.99 8,159.07 10 The figures for the corresponding previous period have been regrouped/ reclassified wherever necessary, to make them comparab le. 11 The results for the half year ended 30th Sept, 2026 are available on the website of BSE at www .bseindia.com, NSE at www .nseindia.com and on Company's website at www.lloyds .in Managing Director DIN: 00028379 Date: 3rd November, 2026 Place: Mumbai Year Ended 31-Mar-26 (Audited) 1.43 0,94 11.26 0.81 (6.09) 0.44 0.49 17.62 222.33 37.13% 22.37% 56.28 13,730.32 6.50 77.79 21,57,22,274 2,157.22 14,266.05
Page 23
T odarwal ~ Todarwal LLP Chartered Accountants To, National Stock Exchange of India Limited Bandra (East) Exchange Plaza,5 th Floor Plot No.C/1, G Block Bandra - Kurla Complex Mumbai - 400 051. BSE Limited Wholesale Debt Market Segment Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Security Cover Certificate Dear Sir/ Madam, In terms of Regulation 54 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022, and SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024 (hereinafter collectively referred to as "the Regulations"), we are enclosing herewith the Security Cover Certificate issued by us, the Statutory Auditors of Lloyds Metals and Energy Limited (hereinafter referred to as "the Company"), for securing the listed non-convertible debt securities of the Company, for the quarter ended 30th September 2026. Please take the same on record. For Todarwal and Todarwal LLP Chartered Accountants ICAI Firm Registra • : W100231/111009W Sunil Todarwal Partner Membership No.: 032512 Place: Mumbai UDIN: 26032512CTJJMJ2653 Date: 03rd November, 2026 112, Maker Bhavan No. 3., 1st Floor, 21 New Marine Lines, Mumbai - 400 020. INDIA. Tel: +9},22, 22083115 / 22068264Itodarwal@todarwal .comIwww.todarwal.com ICAI Regn .: Wl00231 I LLP Regn: AAJ ,9964
Page 24
Todanval & T odanval LLP Chartered Accountants To, The Board of Directors Lloyds Metals and Energy Limited Plot No. A 1-2, MIDC Area, Ghugus, District Chandrapur, Maharashtra - 442505 Subject: Independent Auditor's Certificate on Security Cover of Lloyds Metals and Energy Limited pursuant to Regulation 54 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), read with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022 and SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024, for the quarter ended 30 September 2026 Date: 3rd November 2026 Dear Sirs, 1. We, Todarwal And Todarwal LLP , Chartered Accountants, are the Statutory Auditors of Lloyds Metals and Energy Limited (hereinafter referred to as "the Company") and have been requested by the Company to examine the accompanying Statement of Security Cover as at 30th September 2026 (hereinafter referred to as "the Statement"), which has been prepared by the Company from its reviewed/unaudited standalone financial statements and other relevant records and documents maintained by the Company as at and for the quarter ended 30th September 2026, pursuant to the requirements of Regulation 54 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI LODR Regulations"), read with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022, and SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024 (hereinafter collectively referred to as "the Regulations"). The Statement has been initialled by us for identification purposes only. 2. This certificate is required by the Company for submission to the Stock Exchange(s) and Axis trustee services limited (hereinafter referred to as "the Debenture Trustee") to ensure compliance with the Regulations in respect of its listed non-convertible debt securities as at 30th September 2026 ("Debentures"). The Company has entered into Debenture Trust Deed(s) with the Debenture Trustee in respect of such Debentures, as indicated in the Statement. 3. The above Statement pertains to 9.2% PAPQ Senior, Secured, Listed, Rated, Redeemable, Transferable, Non-Convertible Debentures of face value of INR 1,00,000 (Rupees One Lakh) per Debentures each aggregating INR 600 Crores ("NCO"). Management's Responsibility 4. The preparation of the Statement, including the preparation and maintenance of all accounting and other relevant supporting records and documents, is the responsibility of the Management of the Company . This responsibility includes the design, implementation and maintenance of internal controls relevant to the preparation and presentation of the Statement, and applying an appropriate basis of preparation; and making estimates that are reasonable in the circumstances . 5. The Management is also responsible for ensuring compliance with the requirements of the SEBI LODR Regulations, SEBI Circulars, the Companies Act, 2013 and other applicable laws for the purpose of furnishing the Statement and for providing all relevant information to the Debenture Trustee, including, amongst others, ma int ining Security Cover as per the Debenture Trust Deed in respect of the NCO. 'b- ,odarJy ~~ q/< ~ . l{o. ~ -g 111009 ! ~ '-t.J1001':r\. ;; 12, Maker Bhavan No. 3., 1st Floor, 21 New Marine Lines, Mumbai - 400 020 . INDIA. 0;J .l l: +91, 22, 22083115 / 22068264 I todarwal@todarwal .com I www.todarwal.com ' •':...·_, ~ ICAI Regn.: Wl00231 I LLP Regn: AAJ,9964
Page 25
T odarwal ~ T odarw-al LLP Chartered Accountants 6. The Management is also responsible for ensuring that the Security Cover Ratio as on 30th September 2026 is in compliance with the minimum asset cover requirement of one hundred percent (100%) as per the Regulations and/or as specified in the Debenture Trust Deed, as the case may be. Auditor's Responsibility 7. Our responsibility , for the purpose of this certificate, is to provide limited assurance on whether the particulars contained in the Statement are arithmetically accurate and are in agreement with the reviewed/unaudited standalone financial statements, underlying books of accounts and other relevant records and documents maintained by the Company as at and for the quarter ended 30 September 2026, and to certify that the Security Cover Ratio maintained by the Company is not less than one hundred percent (100%) of the outstanding principal amount of the Debentures , or such higher percentage as specified in the Debenture Trust Deed. 8. We have reviewed the standalone Financial Results of the Company for the quarter ended 30 September 2026 prepared pursuant to the requirements of Regulation 52 of the SEBI LODR Regulations, 2015, as amended, and issued an unmodified conclusion dated 3rd November 2026. Our review was conducted in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India ("ICAI"). 9. We conducted our examination of the Statement in accordance with the "Guidance Note on Reports or Certificates for Special Purposes (Revised 2016)" issued by the ICAI. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI. 10. We have complied with the relevant applicable requirements of the Standard on Quality Management (SQM) 1, "Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements". 11. Our scope of work did not involve us performing audit procedures for the purpose of expressing an opinion on the fairness or accuracy of the financial information or the financial results of the Company taken as a whole. We have not performed an audit and accordingly do not express an audit opinion. 12. A limited assurance engagement involves making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. The procedures performed vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently , the level of assurance obtained is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. 13. Accordingly , we have performed the following procedures in relation to the Statement: (a) Obtained and read the Debenture Trust Deed and the Information Memorandum in respect of the Debentures and noted the Security Cover percentage required to be maintained by the Company, as indicated in Annexure I of the Statement; (b) Traced and agreed the principal amount of the Debentures outstanding as on 30 September 2026 to the reviewed/unaudited standalone financial statements of the Company and the underlying books of account maintained by the Company as at 30 September 2026; (c) Obtained and read the particulars of Security Cover required to be provided in respect of the Debentures as indicated in the Debenture Trust Deed and the Information Memorandum; (d) Traced the value of assets indicated in Annexure I of the Statement to the reviewed/unaudited standalone financial statements of the Company and the underlying books of account maintained by the Company as on 30 September 2026; (e) Obtained the list of charges created in the Register of Charges maintained by the Company and in Form No. CHG-9 filed with the Ministry of Corporate Affairs, and traced the value of charges created against assets to the Security Cover statement; (f) Obtained and verified the list and valuation of assets over which a pari passu charge/lien has been e ate(:) K Q secure these Debentures as well as other existing loan facilities. We confirm that these assets .1a~eJAetU:d'•1fl in the calculation of Security Cover for the Debentures under the Pari-Passu section, and ~ 1/ "t::J Regn. o. <" ~ 111001Y'.W 7, 1 er Bhavan No. 3., 1st Floor, 21 New Marine Lines, Mumb ai - 400 020 . INDIA. ""I~'- Witel:'1+91~12~22083115 / 22068264 Itodarw al@todarwal.co m Iwww .todarwal.c om :.,, ICAI Regn.: W100231 I LLP Regn: AAJ ~9964
Page 26
Todanval ~ Todar\Val LLP Chartered Accountants that the total outstanding debt sharing this charge has been duly considered in determining the effective cover ratio; and (g) Examined and verified the arithmetical accuracy of the computation of Security Cover indicated in Annexure I of the Statement. We have no responsibility to update this certificate for events and circumstances occurring after the date of this certificate. Conclusion 14. Based on the procedures performed by us, as referred to in paragraph 13 above, and according to the information and explanations received and Management representations obtained, nothing has come to our attention that causes us to believe that: (a) the Company has not maintained the required Security Cover of one hundred percent (100%) or such higher Security Cover as per the terms of the Information Memorandum and Debenture Trust Deed as at 30 September 2026; and (b) the financial information as stated in the Security Cover Certificate as at 30 September 2026, extracted from the reviewed/unaudited standalone financial results of the Company for the quarter ended 30 September 2026, is not arithmetically accurate. Restriction on Use 15. This certificate has been issued at the request of the Company, solely in connection with the purpose mentioned in paragraphs 2 and 3 above, and for submission to the Stock Exchange(s) and the Debenture Trustee together with the accompanying Statement. It should not be used by any other person or for any other purpose. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this certificate is shown or into whose hands it may come without our prior written consent. We have no responsibility to update this certificate for events and circumstances occurring after the date of this certificate. For Todarwal and Todarwal LLP Chartered Accountants Sunil Todarwal Partner Membership No.: 032512 Place: Mumbai UDIN: 26032512CTJJMJ2653 Date: 03rd November, 2026 100231/111009W Annexure I: Statement of Security Coverage ratio as on 30th September, 2026 112, Maker Bhavan No. 3., 1st Floor, 21 New Marine lines, Mumbai - 400 020 . INDIA Tel: +91-22-22083115 I 22068264Itodarwal@todarwal.comIwww .todarwal.com ICAI Regn .: W100231 I LLP Regn : AAJ-9964
Page 27
CelurnnA ASSETS Property, Plant & Equipment and Capital Work-in- Progress Ri~ht of Use Assets Goodwill Intangible Assets Intangible Assets under Developmen t Investments Loans Inventorie s Trade Receivables cash and Cash Equivalents Bank Balances oth er than Cash and Cash Equivalents Others Total LIABILITIES Column8 Movable Fixed assets at Pellet plant number 1 at Konsari, Gadchiroli District in Maharashtra Debt securitie s to which this certificate pertains (Including Non- Converti ble accrued interest) Debentures Other debt sha ring pari-pa ssu charge with above debt Other Debt Subordinated debt BorrowinR.s Bank Debt Securitie s others Trade payables Lease Liabilities Provisions Others Total Cover on Book Value Cover on Market Value Column C I Column D --Clarp Debtforwt,ld, -- Olhe,s.cw.dllebt INlnslolued Notto be filed Exclusive Security loollV•luo Cover Ratio Notes : 1 . Amounts are in 1NR crores. 2 . Since market value of such assets are not readily available , the value disclosed in coloumn Oare the book value. 3. The company is contractually able to maintain security cover of 1.10 Yours Faithfully For and on be~ Board of Directors of Uoyds Metals and Energy Limited Place: Mumbai Date : 3rd November 2026 ColumnE Debtforwhlchthls _...,,. - Ya/No Yes Ye s Pari-Passu Security Cover Ratio ANNEXURE I Coltttnnf ColumnG Colu..,H Cokll'l'lnl --bypaf p-..ct.lttholclft' Olherneewon == -:=..is:- -.:.~by _nat_..,_ .. -·- (ndudfnt'llom1 .., tea.tty - Socurity delotwtlh...,._.....,.....,columnf1 ,.._, llootV- -kV.tu. llaokV- 1,768.70 12,124.00 2,859.55 126.85 1366.06 3,340.64 926.35 2.57 28.17 211.38 223.66 405.05 4,503 .02 1,769 13,078 .S3 13,038 .77 605.66 502 .17 7,250 .09 1,223.34 806.57 89.94 81.63 2,864.62 1,1D7,83 7250 .09 3842 .76 1.60 Columnl ----thanonce(dueto _,...pat ,-,-.,] 0.00 CoklmnK (TotalC1DH] 16,752 .25 126.85 1,366.06 3,340 .64 928.92 239.55 223.66 405 .05 4,503.02 27,886 _00 605.66 502 .17 8,473.43 806.57 89.94 81.63 2,864.62 13,424.D2 Col""'"l -Voluofor ANetldwpdon -- (Fi&:, incrores) ColumnM Coklmnll I ColumnO CoklmnP -1oonly ___ by __ ll<tladnc1oColufflnF 13,892 .70 13,892. 70 926 .35 926.35 28.17 28.17 14,847.23 14,847 .23 605.66 605.66 502 .17 502.17 7 250.09 7,250.09 8357 .92 8357.92 O,artered Accountants Firm • - Place: Mumbai Date : 3rd November 2026
Page 28
T odarw-al & T odarw-al LLP Chartered Accountants To, National Stock Exchange of India Limited Bandra (East) Exchange Plaza,5 th Floor Plot No.C/1, G Block Bandra - Kurla Complex Mumbai - 400 051. BSE Limited Wholesale Debt Market Segment Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Security Cover Certificate Dear Sir/ Madam, In terms of Regulation 54 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022, and SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024 (hereinafter collectively referred to as "the Regulations 11 ), we are enclosing herewith the Security Cover Certificate issued by us, the Statutory Auditors of Lloyds Metals and Energy Limited (hereinafter referred to as "the Company 11 ), for securing the listed non-convertible debt securities of the Company, for the quarter ended 30th September 2026. Please take the same on record. For Todarwal and Todarwal LLP Chartered Accountants ICAI Firm Registration Number: W100231/111009W Sunil Todarwal Partner Membership No.: 032512 Place: Mumbai UDIN: 26032512WSRXWO3333 Date: 03rd November, 2026 112, Maker Bhavan No. 3., 1st Floor , 21 New Marin e Lines, Mumbai - 400 020. INDIA. Tel : +91~22~22083115 / 22068264Itodarwal@todarwal .comIwww.todarwal.com ICAI Regn .: Wl00231 I LLP Regn: AAJ ~9964
Page 29
Todarwal ~ Todanval LLP Chartered Accountants To, The Board of Directors Lloyds Metals and Energy Limited Plot No. A 1-2, MIDC Area, Ghugus, District Chandrapur, Maharashtra - 442505 Subject: Independent Auditor's Certificate on Security Cover of Lloyds Metals and Energy Limited pursuant to Regulation 54 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), read with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022 and SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024, for the quarter ended 30 September 2026 Date: 3rd November 2026 Dear Sirs, 1. We, Todarwal And Todarwal LLP , Chartered Accountants, are the Statutory Auditors of Lloyds Metals and Energy Limited (hereinafter referred to as "the Company") and have been requested by the Company to examine the accompanying Statement of Security Cover as at 30th September 2026 (hereinafter referred to as "the Statement"), which has been prepared by the Company from its reviewed/unaudited standalone financial statements and other relevant records and documents maintained by the Company as at and for the quarter ended 30th September 2026, pursuant to the requirements of Regulation 54 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI LODR Regulations"), read with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022, and SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024 (hereinafter collectively referred to as "the Regulations"). The Statement has been initialled by us for identification purposes only. 2. This certificate is required by the Company for submission to the Stock Exchange(s) and IDBI Trusteeship Services limited (hereinafter referred to as "the Debenture Trustee") to ensure compliance with the Regulations in respect of its listed non-convertible debt securities as at 30th September 2026 ("Debentures"). The Company has entered into Debenture Trust Deed(s) with the Debenture Trustee in respect of such Debentures, as indicated in the Statement. 3. The above Statement pertains to 9.02% PA Half yearly Senior, Secured, Listed, Rated, Redeemable, Non Convertible Debentures offace value of INR 1,00,000 (Rupees One Lakh) per Debentures each aggregating INR 700 Crores ("NCD") Management's Responsibility 4. The preparation of the Statement, including the preparation and maintenance of all accounting and other relevant supporting records and documents, is the responsibility of the Management of the Company. This responsibility includes the design, implementation and maintenance of internal controls relevant to the preparation and presentation of the Statement, and applying an appropriate basis of preparation; and making estimates that are reasonable in the circumstances. 5. The Management is also responsible for ensuring compliance with the requirements of the SEBI LODR Regulations, SEBI Circulars, the Companies Act, 2013 and other applicable laws for the purpose of furnishing the Statement and for providing all relevant information to the Debenture Trustee, including, amongst others, maintaining Security Cover as per the Debenture Trust Deed in respect of the NCD. 112, Maker Bhavan No. 3., 1st Floor, 21 New Marine lines, Mumbai - 400 020. INDIA. el: +91-22-22083115 / 22068264 I todarwal@todarwal .com I www.todarwal.com ICAI Regn.: W100231 I LLP Regn: AAJ -9964
Page 30
Todarwal & Todarwal LLP Chartered Accountants 6. The Management is also responsible for ensuring that the Security Cover Ratio as on 30th September 2026 is in compliance with the minimum asset cover requirement of one hundred percent (100%) as per the Regulations and/or as specified in the Debenture Trust Deed, as the case may be. Auditor's Responsibility 7. Our responsibility, for the purpose of this certificate, is to provide limited assurance on whether the particulars contained in the Statement are arithmetically accurate and are in agreement with the reviewed/unaudited standalone financial statements, underlying books of accounts and other relevant records and documents maintained by the Company as at and for the quarter ended 30 September 2026, and to certify that the Security Cover Ratio maintained by the Company is not less than one hundred percent (100%) of the outstanding principal amount of the Debentures, or such higher percentage as specified in the Debenture Trust Deed. 8. We have reviewed the standalone Financial Results of the Company for the quarter ended 30 September 2026 prepared pursuant to the requirements of Regulation 52 of the SEBI LODR Regulations, 2015, as amended, and issued an unmodified conclusion dated 03rd November 2026. Our review was conducted in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India ("ICAI"). 9. We conducted our examination of the Statement in accordance with the "Guidance Note on Reports or Certificates for Special Purposes (Revised 2016)" issued by the ICAI. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI. 10. We have complied with the relevant applicable requirements of the Standard on Quality Management (SQM) 1, "Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements". 11. Our scope of work did not involve us performing audit procedures for the purpose of expressing an opinion on the fairness or accuracy of the financial information or the financial results of the Company taken as a whole . We have not performed an audit and accordingly do not express an audit opinion. 12. A limited assurance engagement involves making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. The procedures performed vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. 13. Accordingly, we have performed the following procedures in relation to the Statement: (a) Obtained and read the Debenture Trust Deed and the Information Memorandum in respect of the Debentures and noted the Security Cover percentage required to be maintained by the Company, as indicated in Annexure I of the Statement; (b) Traced and agreed the principal amount of the Debentures outstanding as on 30 September 2026 to the reviewed/unaudited standalone financial statements of the Company and the underlying books of account maintained by the Company as at 30 September 2026; (c) Obtained and read the particulars of Security Cover required to be provided in respect of the Debentures as indicated in the Debenture Trust Deed and the Information Memorandum; (d) Traced the value of assets indicated in Annexure I of the Statement to the reviewed/unaudited standalone financial statements of the Company and the underlying books of account maintained by the Company as on 30 September 2026; (e) Obtained the list of charges created in the Register of Charges maintained by the Company and in Form No. CHG-9 filed with the Ministry of Corporate Affairs, and traced the value of charges created against assets to the Security Cover statement; (f) Obtained and verified the list and valuation of assets over which a pari passu charge/lien has been created to secure these Debentures as well as other existing loan facilities. We confirm that these assets _,_~-- are included in the calculation of Security Cover for the Debentures under the Pari-Passu section, and 112, Maker Bhavan No. 3., pt Floor, 21 New Marin e Lines, Mumbai - 400 020 . INDIA el: +91, 22, 22083115 I 22068264Itodarwal@todarwal.comIwww.todarwal.com ICAI Regn .: W100231 I LLP Regn: AAJ , 9964
Page 31
Todarwal & T odarvval LLP Chartered Accountants that the total outstanding debt sharing this charge has been duly considered in determining the effective cover ratio; and (g) Examined and verified the arithmetical accuracy of the computation of Security Cover indicated in Annexure I of the Statement. We have no responsibility to update this certificate for events and circumstances occurring after the date of this certificate. Conclusion 14. Based on the procedures performed by us, as referred to in paragraph 13 above, and according to the information and explanations received and Management representations obtained, nothing has come to our attention that causes us to believe that: (a) the Company has not maintained the required Security Cover of one hundred percent (100%) or such higher Security Cover as per the terms of the Information Memorandum and Debenture Trust Deed as at 30 September 2026; and (b) the financial information as stated in the Security Cover Certificate as at 30 September 2026, extracted from the reviewed/unaudited standalone financial results of the Company for the quarter ended 30 September 2026, is not arithmetically accurate. Restriction on Use 15. This certificate has been issued at the request of the Company, solely in connection with the purpose mentioned in paragraphs 2 and 3 above, and for submission to the Stock Exchange(s) and the Debenture Trustee together with the accompanying Statement. It should not be used by any other person or for any other purpose. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this certificate is shown or into whose hands it may come without our prior written consent. We have no responsibility to update this certificate for events and circumstances occurring after the date of this certificate. For Todarwal and Todarwal LLP Chartered Accountants ICAI Firm Registration Number: W100231/111009W Sunil Todarwal Partner Membership No.: 032 Place: Mumbai UDIN: 26032512WSRXWO3333 Date: 03rd November, 2026 Annexure I: Statement of Security Coverage ratio as on 30th September, 2026 112, Maker Bhavan No. 3., 1st Floor, 21 New Marine Lines, Mumbai - 400 020. INDIA. Tel: +91-22-22083115 / 22068264Itodarwal@todarwal.comIwww .todarwal.com ICAI Regn.: Wl00231 I LLP Regn: AAJ-9964
Page 32
Column A CGlumnB ColumnC I ColunmD P■rtk:u1-n ASSETS Property, Plant & Equipment and Capital Work-in- Progress Rillht of Use Assets Goodwill lntarnzible Assets lntanRible Assets under Development Investments Loans Inventorie s Trade Receivables Cash and Cash EQuivalents Bank Balances other than Cash and Cash Equivalents Others Tot.I LIABILITIES o.-tptlonof_.lo, whldlthllc,ertlflc;aterelatll! Movable Fixed assets at ORI and Power at Konsari and Grinding Unitl Debt securities to which this certificate pertains (Including Non- Convertible accrued interest) Debentures Other debt sharing pari-passu charge with above debt Other Debt Subordinated debt Borrowimzs Bank Debt Securities Others Trade payables Lease Liabilities Provisions Others Total Cover on Book Value Cover on Market Value Book Value Not to be filed Exclusive Security Cover Ratio Notes : 1. Amounts are in INR crores. -v- 2. Since market value of such assets are not readily available, the value disclosed in coloumn Oare the book value. 3. The company is contractually able to maintain security cover of 1.10 Yours Faithfully For and on beh? Board of Directors of Lloyds Metals and Energy Limited Authorised Signa o Riyaz Shaikh Place: Mumbai \ Date : 3rd November 2026 ColumnE Dobtlotwhlchthls .. -1ae1 ... - Yfl/No Yes Yes Security Cover Ratio ANNEXURE I ColumnG Columr>H Column! __ ...,po,! pNaUdathalcler Otlwr...aon (-tlebtlot whlchlhereh,,.,i- Delrt-badcedby --ofleredn '"':'_':= C-:::.::'"" •nv-=..,llenl• s.a.rlly 6ebtwllll~ coveredlncolumnf) ..,_, llookV- laakV■lue 896.00 12,997.00 2,859.25 126.85 1366 .06 3,340.64 926.35 2.57 28.17 211.38 223.66 405 .05 4,503.02 896.00 13,951 .53 13,038.47 704.06 7,151.69 1,725.5 1 806.57 89.94 81.63 2,864 .62 704.06 71Sl.69 3842 .76 1.27 Ellml-C- 1n-• tlebtamaunt --1:hanonce(d.-to _,....pan -udlllra•l 0.00 {l'o1alCIDH) 16,752.25 126.85 1,366.06 3,340 .64 928.92 239.55 223.66 405.05 4,503.02 27,886.00 704.06 8,877.20 806.57 89.94 81.63 2,864.62 13,424.02 Columnl -V■ luelot ANetsdlarpdon -- C.ohmmO - .. only ___ bythb- ~"":.:' Canyinc•-,'l,ooi•at ... lotpaff whettmarutvalueftnot ,.....ctwaeaaenwheremarut uc:ertalnaleorapplk:alJJe Marut:ValueforParl v■lueilnotMCertainaWeor lfo<E&--B■ lance,DSRA ,-dllltp- appllcable(fo<~BankBalanco, marutwak4eknot PSRA~n lue•not ■oollcablel ■ pplcableJ For Todarwal and Toda Sunil Todarwal Membership No. - 032512 Place: Mumbai Date : 3rd November 2026 13,893.00 926.35 28.17 14,847.53 704.06 7151.69 7855.75 (Fig. incrores) Col"'1'1t1P 13,893.00 926.35 28.17 14,847 .53 704.06 7151.69 7855.75
Page 33
UTILIZATION OF ISSUE PROCEEDS AND STATEMENT OF DEVIATION OF RUPEES 700 CRORE NON-CONVERTIBLE DEBENTURES Statement Indicating the utilization of issue proceeds of Non-Convertible Debentures and Nil Deviation and Variation in the use of issue proceeds for the quarter ended 30th September, 2026 pursuant to Regulation 52(7) and (7A) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations ") read with Master circular dated 11th July, 2025. A. Statement of utilization of issue proceeds: Name of ISIN Mode of Type of Date Amou Funds An If any Re Issuer Fund Instrum of nt utilize y Deviat ma Raising ent fund raised d Dev ion, rks, (Public raising iati then if issues/ on specify any Private (yes the placement /no) purpos ) e for which the funds were utilize d Lloyds INE281 Private Non- 07th Rs. Rs. No NA NA Metals B07021 Placement Converti August 700 700 and ble , 2026 crores Crores Energy Debentur Limited es B. Statement of deviation/ variation in use of Issue proceeds Particulars Remarks Name of listed entity Llovds Metals and Energy Limited Mode of fund raising Private Placement Type of instrument Non-Convertible Debentures Date of raising funds 07th Au!!llst, 2026 Amount raised Rs 700 crores Report filed for quarter ended 30th September, 2026 Is there a deviatio n/ variation in use of funds raised No Whether any approval is required to vary the objects No of the issue stated in the prospectus/ offer document? lfves, details of the annroval so reouired? NA Date of anoroval NA Explanation for the deviation/ variation NA Comments of the audit committee after review Comments of the auditors, if any NA Corporate Office: Lloyds Metals and Energy Limited R/0: Plot No: A 1-2, MIDC Area, Ghugus, District Chandrapur - 442505, Maharashtra, India. W www.lloyds.in I E investor@lloyds .in A-2, 2nd Floor, Madhu Estate, Pandurang Budhkar Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India. C/0 No.: +91-22-62918111 I R/0 No.: +91-07172 285398/285103 CIN: L40300MH1977PLC019594
Page 34
Objects for which funds have been raised and where there has been a deviation/ variation, in the following table: Original Modified Original Modified Funds Amount of Remarks, Object object, if allocation allocation, utilised DeviationNariation if any any if any for the Quarter according to applicable object (in Rs. Crores and in%) NA NA NA NA NA NA NA Deviation could mean: a) Deviation in the objects or purposes for which the funds have been raised. b) Deviation in the amount of funds actually utilized as against what was originally disclosed Thanking you. Yours Faithfully, For Lloyds Metals and Energy Limited R£:aJ Director Finance and Chief Financial Officer Date: 03rd November, 2026 Lloyds Metals and Energy Limited R/O: Plot No: A 1-2, MIDC Area, Ghugus , District Chandrapur - 442505, Maharashtra , India. W www.lloyds.in I E investor@lloyds.i n CIN: L40300MH1977PLC019594 Corporate Office : A-2, 2nd Floor, Madhu Estate , Pandurang Budhkar Marg, Lower Pa rel (West), Mumbai - 400013, Maharashtra, India. C/O No.: +91-22-62918111 I R/O No.: +91-07172 285398/285103
Page 35
Annexure –A The details required pursuant to Regulation 30 of the Listing Regulations read with Clause B(10) of Annexure 18 of Disclosure Circular Sr. No. Particulars Grant of Options under Lloyds Metals and Energy Limited Employee Stock Option Plan – 2017 Grant of Options under Lloyds Metals And Energy Employee Stock Option Scheme – 2024 1. Brief details of options granted 62,000 (Sixty Two thousand Only) Employee Stock Options (“ Options”) have been granted by Board of Directors of the Company (“Board”) in terms of the Lloyds Metals and Energy Limited Employee Stock Option Plan – 2017 (“ ESOP 2017”). 13,08,571 (Thirteen Lakh Eight Thousand Five Hundred and Seventy-One Only) Employee Stock Options (“Options”) have been granted by Board of Directors of the Company (“ Board”) in terms of the Lloyds Metals and Energy Employee Stock Option Scheme - 2024 (“ESOP-2024”) 2. Whether the scheme is in terms of Securities and Exchange Board of India (Share Based Employee Benefits & Sweat Equity) Regulations, 2021 Yes Yes 3. Total number of shares covered by these options 62,000 (Sixty-Two thousand Only) Options exercisable into not more than 62,000 (Sixty Two thousand Only) equity shares of face value of Re. 1/ - (Rupee One) each fully paid - up 13,08,571 ( Thirteen Lakh Eight Thousand Five Hundred and Seventy-One Only) Options exercisable into not more than 13,08,571 (Thirteen Lakh Eight Thousand Five Hundred and Seventy-One Only) equity shares of face value of Re. 1/ - (Rupee One) each fully paid-up 4. Pricing formula The exercise price determined is Rs. 4/- per Option. The exercise price determined is Rs. 4/- per Option. 5. Options vested Not Applicable Not Applicable 6. Time within which option may be exercised All vested Options shall be exercisable within a maximum period of 36 (Thirty-six) months from the date of vesting of the respective Options. All vested Options shall be exercisable within a maximum period of 12 (Twelve) months from the date of vesting of the respective Options. 7. Options exercised Not Applicable Not Applicable 8. Money realized by exercise of options Not Applicable Not Applicable
Page 36
Sr. No. Particulars Grant of Options under Lloyds Metals and Energy Limited Employee Stock Option Plan – 2017 Grant of Options under Lloyds Metals And Energy Employee Stock Option Scheme – 2024 9. The total number of shares arising as a result of exercise of option Not Appliable Not Appliable 10. Options lapsed Not Applicable Not Applicable 11. Variation of terms of options Not Applicable Not Applicable 12. Brief details of significant terms Options granted shall have a Vesting period of minimum 1 (One) Year from the date of Grant and all Options granted shall Vest as per the Vesting schedule specified in the Grant Letter. Options granted shall have a Vesting period of minimum 1 (One) Year from the date of Grant and all Options granted shall Vest as per the Vesting schedule specified in the Grant Letter. 13. Subsequent changes or cancellation or exercise of such options Not Applicable Not Applicable 14. Diluted earnings per share pursuant to issue of equity shares on exercise of options Not Applicable Not Applicable ****
Page 37
Annexure-B The details as required under Regulation 30 of the Listing Regulations read with Clause B(3)(3.1) of Annexure 18 of the Disclosure Circular: Sr. No. Particulars Details of Power Plant 1. Existing capacity Not Applicable; Since the Company is setting up a new Thermal power plant. 2. Existing capacity utilization Not Applicable 3. Proposed capacity addition Setting up of a new 2 × 180 MW Thermal Power plant at Konsari, Maharashtra with an aggregate installed capacity of 360 MW. 4. Period within which the proposed capacity is to be added The proposed power plant is expected to be completed by March 2029, Subject to receipt of necessary regulatory and statutory approvals. 5. Investment required The estimated capital expenditure for the proposed Power Plant shall be Rs. 3,240 crore (Rupees Three Thousand Two Hundred Forty Crore only) 6. Mode of financing The project is proposed to be financed through a mix of debt and equity including internal accruals, as may be determined by the Company. ****
Page 38
Annexure-C The details as required under Regulation 30 of the Listing Regulations read with Part A Clause A(1)(1.1) of Disclosure Circular: Sr. No. Particulars Thriveni Earthmovers and Infra Limited 1. Name of the target entity, details in brief such as size, turnover etc Name of the target entity: Thriveni Earthmovers and Infra Private Limited (“TEIL”). Details of target entity: TEIL is in the business of mine development and operations. Size: Authorized Capital: 30,20,00,00,000 Paid Up Capital: 17,876,049,447 Turnover as per latest audited financials: Rs. 4126.07 Crore 2. Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” Lloyds Metals and Energy Limited (“ the Company ”) holds 71.89% of the paid -up share capital of TEIL and, accordingly, TEIL qualifies as a subsidiary of the Company and is a related party of the Company. However, the fund-raising by TEIL through the issuance of securities by way of a rights issue is uni formly offered to all shareholders in proportion to their respective shareholding. Accordingly, such issuance shall not be considered a related party transaction. The Company is interested in proposed transaction to the extent of its shareholding. 3. Industry to which the entity being acquired belongs TEIL is, inter alia, engaged in the business of providing end to end contract mining services including exploration, drilling, mining, excavation, hauling, sizing, processing and transportation of minerals, trading of coal, iron ore, iron ore pellets and o ther minerals, coal production, manufacturing of solid blocks and leasing of mining equipment. 4. Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) The proposed investment is intended to enable the Subsidiary to meet its working capital requirements, fund business expansion, undertake capital expenditure, support operational requirements and meet other general corporate purposes. 5. Brief details of any governmental or regulatory approvals required for the acquisition Not Applicable
Page 39
Sr. No. Particulars Thriveni Earthmovers and Infra Limited 6. Indicative time period for completion of the acquisition The proposed investment is expected to be completed During Financial Year 2026-27. 7. Consideration - whether cash consideration or share swap or any other form and details of the same The consideration for the Acquisition is cash consideration of up to Rs. 625 crores (Rupees Six Hundred and Twenty- five Crores only). 8. Cost of acquisition and/or the price at which the shares are acquired The consideration for the Acquisition is cash consideration of up to Rs. 625 crores (Rupees Six Hundred and Twenty- five Crores only). 9. Percentage of shareholding / control acquired and / or number of shares acquired Existing shareholding: 71.89% Post issue: This will be informed as and when it will happen 10. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) (i) Products/line of business acquired: The TEIL is a private limited company incorporated under the provisions of Companies Act, 2013 with its registered office located at 22/110, Greenways Road, Fairlands Salem, Salem, Tamil Nadu, 636016 India. TEIL is, inter alia, engaged in the business of providing end to end contract mining services including exploration, drilling, mining, excavation, hauling, sizing, processing and transportation of minerals, trading of coal, iron ore, iron ore pellets and other minerals, coal production, manufacturing of solid blocks and leasing of mining equipment. (ii) Date of incorporation: TEIL was incorporated on 17th February, 2024 (iii) History of last 3 years turnover: (Rs. In Crore) Financial Year Turnover 2025 - 2026 4126.07 2024 - 2025 3140.60 (Restated) 2023 - 2024 Nil (iv) Country of presence: India (v) Any other significant information: Nil ****
Page 40
Annexure-D The details as required under Regulation 30 of the Listing Regulations read with Part A Clause A(2)(2.1) of Disclosure Circular: Sr. No. Particulars Details 1. Type of securities proposed to be issued (viz. equity shares, convertibles etc.) United States Dollar (“ USD”) denominated Senior Secured or Unsecured floating rate or fixed rate notes (“ Notes”) and/or bonds / debentures / other debt securities (“Securities”) 2. Type of issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified institutions placement, preferential allotment etc.) Private Placement 3. Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately) Total Number of Securities to be issue: will be disclosed upon further approval of issuance by the Board or Committee of the Board of Directors, as authorised by the Board of Directors Total amount for which the securities will be issued: not exceeding USD 300 Million (United States Dollar Three Hundred Million Only) 4. Size of the issue Aggregate amount not exceeding USD 300 Million (United States Dollar Three Hundred Million Only) 5. Whether proposed to be listed? If yes, name of the stock exchange(s) It will be disclosed upon further approval of issuance by the Board or Committee of the Board of Directors, as authorised by the Board of Directors. 6. Tenure of the instrument - date of allotment and date of maturity 7. Coupon/interest offered, schedule of payment of coupon/interest and principal 8. Charge/security, if any, created over the assets 9. Special right/interest/privileges attached to the instrument and changes thereof Not Applicable 10. Delay in payment of interest / principal amount for a period of more than three months from the due date or default in payment of interest / principal Not Applicable 11. Details of any letter or comments regarding payment/non-payment of interest, principal on due dates, or any other matter concerning the security and /or the assets along with its comments thereon, if any Not Applicable
Page 41
Sr. No. Particulars Details 12. Details of redemption of preference shares indicating the manner of redemption (whether out of profits or out of fresh issue) and debentures Not Applicable ****