Lloyds Engineering Q2 revenue rises 87% YoY to ₹594 crore

Lloyds Engineering Works Limited (NSE: LLOYDSENGG)

reported Q2 revenue of ₹594 crore, up from ₹317 crore a year ago. That is growth of 87.38% YoY. The result follows Q1 FY27 revenue of ₹527.15 crore, which was up 142.92% from ₹217.01 crore in Q1 FY26. Revenue has now grown YoY in both quarters. Q2 is about 12.7% higher than Q1 on a sequential basis. Why it matters: capital goods companies are judged on how fast orders turn into billed revenue. Two quarters of strong growth, with the second above the first, suggests execution is holding up as the base gets bigger. The company also announced the acquisition of SISCOL in June 2026 to widen its structural fabrication and EPC work. My view: the headline number is good, but revenue is only half the story. Fast growth in engineering and EPC usually pulls working capital up with it, because inventory and receivables build before cash comes in. Steel and raw material prices can also squeeze margins on fixed-price contracts. The data I have covers revenue only. So I read this as a strong top line that still needs margin and cash flow to confirm it. What I am watching: Detailed Q2 disclosure for margins and working capital, and any new order additions in heavy engineering and structural fabrication. Delays in project execution or supply chains are the main risk to the current pace. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.