Monday , 29 November 2021
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Lloyds Steels Industries zooms on getting nod for capacity expansion

Lloyds Steels Industries zooms on getting nod for capacity expansion

Lloyds Steels Industries is currently trading at Rs. 4.96, up by 0.23 points or 4.86% from its previous closing of Rs. 4.73 on the BSE.

Lloyds Steels

The scrip opened at Rs. 4.50 and has touched a high and low of Rs. 4.96 and Rs. 4.50 respectively. So far 8486425 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 5.21 on 14-Oct-2021 and a 52 week low of Rs. 0.64 on 19-Oct-2020.

Last one week high and low of the scrip stood at Rs. 5.21 and Rs. 4.50 respectively. The current market cap of the company is Rs. 445.75 crore.

The promoters holding in the company stood at 53.41%, while Institutions and Non-Institutions held 0.06% and 46.53% respectively.

Lloyds Steels Industries’ board has approved the major capacity expansion to supplement the company’s Manufacturing Facilities at Murbad works on a plot of land of 8085 Sq. Mtr owned by the company. A Modern facility will be set up with heavy lifting capability to meet the critical demand for critical equipments for various industries. This facility will consist of automated equipment for Welding, Plate Cutting Forming & Machining critical components. This will help in lowering/reducing costs and carrying out larger jobs which will substantially improve profitability and turnover for the company.

The Shop Layout and workflow has been planned meticulously to eliminate any waiting time and increase capacity by 40%. The plant is expected to be operational by second quarter of next financial year. The total cost is expected to be within Rs 25 crore and will be funded internally. The Board of Directors of the company in the meeting held on October 14, 2021 have considered and approved the same.