Lloyds Engineering surges after bagging naval equipment supply contract from Cochin Shipyard
Lloyds Engineering Works jumped 4.25% to Rs 50.30 after the company announced that it has received an order from Cochin Shipyard for the supply of 'fin stabilizer systems' for next generation missile vessel.
The aforementioned order is valued at Rs 20.67 crore.
"The aforesaid order in respect to Next Generation Missile Vessel, signify the company's proactive stance in capturing the increasing demand resulting from the government's heightened defence spending, Lloyds Engineering said in a statement.
During the past 14 months, company has received orders for more than Rs 130 crore in defence sector, it added.
Shreekrishna Gupta, whole-time director at Lloyds Engineering Works, said: "These prestigious orders are a testament to our consistent performance and engineering expertise.
In addition to providing strong financial value, these contracts introduce new clients to our portfolio, opening pathways for future collaborations and sustained revenue streams."
Lloyds Engineering Works (LEWL) provides a complete engineering and infrastructure solutions package by carrying out design, engineering, manufacturing, fabrication, and installation. Its products cover various categories in heavy equipment, machinery and systems for the carbon sector, oil and gas, steel plant equipments, power plants, nuclear plant boilers and turnkey projects.
The company had reported 20.14% drop in standalone net profit to Rs 16.88 crore on a 5.01% fall in revenue to Rs 178.49 crore in Q4 FY25 over Q4 FY24.
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