Lloyds Metals hits new high; stock zooms 102% in 1 year on healthy earnings

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Lloyds Metals hits new high; stock zooms 102% in 1 year on healthy earnings - Business Standard

Quick Summary:

Long-term steel demand buoyancy augurs well for the company and it is well-positioned to capitalise on the existing and emerging opportunities in the market, believes the management.

It has a DRI plant with a production capacity of 2,70,000 TPA along with a captive power plant with a 30 MW capacity at Ghugus, Chandrapur district, Maharashtra, and a Greenfield plant with a production capacity of 70,000 MTPA in Konsari, Gadchiroli with a 4 MW captive power plant.

Both iron ore and sponge led robust performance. Margins improved by 270bps YoY and 36 bps sequentially to 30.26 per cent.