Rs 1,278.13 Crore Order Book: This Multibagger Penny Stock Under Rs 60 Likely to Announce Rights Issue in it's Board Meeting on 17 April 2025
The stock price gave multibagger returns of 339 per cent in 3 years and a whopping 17,500 per cent in 5 years.
Lloyds Engineering Works Limited, formerly known as Lloyds Steels Industries Limited, has announced that meeting of its Board of Directors is scheduled for Thursday, April 17, 2025. The primary purpose of this meeting is to discuss and approve various matters related to the company's proposed Rights Issue. This announcement follows an earlier intimation on April 08, 2025, where the company informed the BSE Limited and the National Stock Exchange of India Limited that the Board had decided to defer the agenda items for the Rights Issue of shares due to the volatile market conditions.
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The upcoming board meeting on April 17, 2025, will specifically address the terms and conditions of this Rights Issue. Key agenda items include the determination of the Rights Issue price, the related payment mechanism, the Rights Issue size, the Rights Entitlement Ratio, the Record Date, the Rights Issue Opening and Closing Date, and other related matters. The Rights Issue was initially approved by the Board of Directors at a meeting held on July 30, 2024, for an amount not exceeding Rs 1050 crores (Rupees One Thousand and Fifty Crores only).
Lloyds Engineering Works Ltd, established in 1974, designs, manufactures and commissions heavy equipment, machinery and systems for various sectors including hydrocarbon, oil & gas, steel, power, nuclear and marine. They offer a diverse range of products like pressure vessels, heat exchangers, steel mill equipment, and marine loading arms, catering to a broad clientele and operating out of four workshops in Thane, Mumbai. They are continuously expanding their capacity and hold various industry approvals.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 229.72 crore, reflecting a YoY growth of 14.04 per cent compared to Rs 201.44 crore in December 2023. The operating profit stood at Rs 39.28 crore, marking a 10.00 per cent increase from Rs 35.71 crore in the same quarter last year. The profit after tax (PAT) increased by 24.37 per cent to Rs 33.68 crore from Rs 27.08 crore in December 2023.
In FY24, the company posted a revenue of Rs 624.24 crore, reflecting a growth of 99.69 per cent compared to Rs 312.61 crore in FY23. The net profit stood at Rs 79.84 crore, marking a growth of 116.84 per cent from Rs 36.82 crore in FY23.
The current market price of the stock is Rs 59.23, with a market capitalisation of Rs 6,903.32 crore. As of December 2024, the order book stands at Rs 1,278.13 crore. The stock is up 17.68 per cent from its 52-week low of Rs 50.33 per share. The stock price gave multibagger returns of 339 per cent in 3 years and a whopping 17,500 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.