Lloyds Metals and Energy Limited announced the outcome of its Board Meeting held on February 3, 2026. The Board approved the unaudited financial results (standalone and consolidated) for the quarter and nine months ended December 31, 2025. The company also approved the allotment of 8,05,500 equity shares upon conversion of preferentially issued convertible warrants to non-promoters. This conversion is part of a larger allotment of 3,67,95,000 warrants previously issued on a preferential basis. The new shares will rank pari passu with existing equity shares. Furthermore, the Board approved the incorporation of a wholly-owned subsidiary in Maharashtra, India, with an estimated capital outlay of over ₹252 crore. Additionally, the company will develop a Second Slurry Pipeline Project from Hedri to Maharashtra Port, to be implemented in two phases. The Board also approved the designation of Mr. Ashit Patni, Chief Marketing Officer, as Senior Managerial Personnel. In strategic international moves, the company's wholly-owned subsidiary, Lloyds Global Resources FZCO (LGRF), received approval to acquire up to a 95% equity stake in a Singapore-based entity, Lloyds Asia Resources Pte. Ltd. (LARPL), for up to USD 5 million. LGRF also received approval to acquire a 100% equity stake in TP Phoenix (Pty) Ltd, a South Africa-based company, for up to USD 1 million, positioning South Africa as the group's strategic hub for African operations. A new company, 'Lloyds Global Resources South Africa', will also be formed. Finally, the Board approved an increase in the capacity of Pellet Plants at Konsari from 4 MTPA each to 5 MTPA each, through debottlenecking and technological enhancements. The Board Meeting commenced at 4:40 PM IST and concluded at 6:05 PM IST.
