Revenue and Operating Performance
The company’s net sales have surged impressively, rising from a mere ₹14.58 crores in March 2019 to ₹1,488.29 crores by March 2025. This exponential growth reflects a strategic expansion and scaling of operations. Total operating income mirrored this trend, with no other operating income reported, indicating core business activities as the primary revenue source.
Cost management has evolved alongside revenue growth. Raw material costs increased in absolute terms but remained proportionate to sales, while purchase of finished goods also rose significantly, reflecting increased production and sales volumes. Employee costs and manufacturing expenses have grown steadily, consistent with operational scaling. Despite rising expenses, the company maintained a positive operating profit (PBDIT) excluding other income, which improved from a negative ₹8.04 crores in 2019 to a positive ₹118.04 crores in 2025.
Other income, which fluctuated notably in earlier years, declined to ₹82.64 crores in 2025 from a peak of ₹159.29 crores in 2022, suggesting a shift towards reliance on operational earnings rather than ancillary income.
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Profitability and Margins
Profit before tax (PBT) has shown a strong upward trend, climbing from a loss of ₹8.04 crores in 2019 to a profit of ₹163.15 crores in 2025. Correspondingly, profit after tax (PAT) improved from a negative ₹8.04 crores to ₹126.31 crores over the same period. However, consolidated net profit, which accounts for minority interest and share in associates, was ₹57.10 crores in 2025, down from ₹117.57 crores in 2024, indicating some volatility in recent years.
Operating profit margins excluding other income have moderated from a peak of 13.21% in 2023 to 7.93% in 2025, reflecting increased expenditure pressures despite revenue growth. PAT margin similarly declined from 18.24% in 2024 to 8.49% in 2025. Earnings per share (EPS) followed a similar pattern, with a peak of 1.21 in 2022 before settling at 0.41 in 2025, signalling fluctuating profitability on a per-share basis.
Balance Sheet and Financial Position
Lloyds Enterpris has significantly strengthened its balance sheet, with total assets rising from ₹335.46 crores in 2021 to ₹4,257.43 crores in 2025. Shareholders’ funds expanded from ₹327.33 crores in 2021 to ₹2,454.42 crores in 2025, supported by a substantial increase in reserves. The company’s book value per share increased markedly from ₹2.62 in 2021 to ₹17.64 in 2025, reflecting enhanced net asset value per share.
Long-term borrowings rose to ₹137.07 crores in 2025 from negligible levels in earlier years, while short-term borrowings also increased to ₹438.07 crores, indicating greater leverage to support expansion. Despite this, the company reported no total debt, suggesting borrowings may be classified differently or offset by cash and equivalents.
Non-current investments grew substantially, reaching ₹2,469.75 crores in 2025, more than doubling since 2024, signalling strategic asset accumulation. Current assets also expanded robustly, with cash and bank balances remaining healthy at ₹176.11 crores in 2025.
Cash Flow Trends
Operating cash flow has improved significantly, turning positive at ₹144 crores in 2025 after negative cash flows in 2024. Investing activities have consistently been cash outflows, reflecting ongoing capital expenditure and investments. Financing activities provided substantial inflows, particularly in 2024 and 2025, supporting the company’s growth initiatives. Overall, net cash outflow was modest at ₹9 crores in 2025, with closing cash balances remaining stable.
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Summary and Outlook
Over the past six years, Lloyds Enterpris has transformed from a small-scale operation into a sizeable consolidated business with substantial revenue growth and improved profitability. While margins have experienced some compression recently, the company’s expanding asset base, rising reserves, and positive cash flow from operations indicate a solid financial foundation. The increase in borrowings suggests a strategic approach to funding growth, balanced by healthy liquidity.
Investors should note the volatility in net profit and EPS in recent years, which may reflect operational challenges or market conditions. Nonetheless, the overall trajectory points to a company that has successfully scaled its operations and strengthened its financial position, positioning it well for future opportunities.
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