Lloyds Engineering Works is acquiring Steel Infra Solutions Company Limited for ₹1,073 crore. This move aims to transform the company into an integrated EPC platform, targeting over ₹10,000 crore in revenue by FY30.

Lloyds Engineering Acquires Steel Infra Solutions for ₹1,073 Crore

Lloyds Engineering Works Ltd will acquire Steel Infra Solutions Company Limited (SISCOL) for a total consideration of ₹1,073 crore, with an equity valuation of ₹1,220 crore.

Reader Takeaway: Strategic EPC integration to boost infrastructure project participation; margin efficiency post-acquisition is a key concern.

What just happened

Lloyds Engineering Works Limited (LEWL) announced the acquisition of Steel Infra Solutions Company Limited (SISCOL). The deal values SISCOL at ₹1,220 crore and involves a total consideration of ₹1,073 crore. SISCOL reported revenues of ₹817 crore and a Profit After Tax (PAT) of ₹44 crore in FY26, with an EBITDA of ₹92 crore and an order book of ₹1,134 crore.

Why this matters

This acquisition is a significant step to transform LEWL from a specialist engineering manufacturer into a fully integrated Engineering, Procurement, and Construction (EPC) platform. The combined entity aims to target large-scale infrastructure projects, including airports, data centres, and industrial facilities, tapping into India's infrastructure growth.

The backstory

LEWL has shown substantial growth, increasing revenue from approximately ₹80 crore in FY19 to around ₹3,000 crore currently, supported by an order book exceeding ₹8,000 crore. The acquisition of SISCOL is expected to fuel the next phase of this growth.

What changes now

The integration of SISCOL's expertise in structural steel design, fabrication, and erection with LEWL's existing EPC capabilities will create a comprehensive design-to-delivery solution. The combined entity targets a structural fabrication capacity of 150,000 MTPA, with plans to expand to 200,000 MTPA. The company also aims for revenue exceeding ₹10,000 crore by FY29/30.

Risks to watch

Key risks include the successful integration of SISCOL's operations, maintaining margin efficiency while scaling aggressively, and achieving the ambitious revenue targets.

Peer comparison

While specific peers are not detailed in the filing, the move positions LEWL to compete more directly with larger integrated EPC players in the Indian infrastructure sector.

Context metrics (time-bound)

• FY26 SISCOL Revenue: ₹817 crore
• FY26 SISCOL EBITDA: ₹92 crore
• FY26 SISCOL PAT: ₹44 crore
• FY26 SISCOL Order Book: ₹1,134 crore
• LEWL Current Revenue: ~₹3,000 crore
• LEWL Order Book: >₹8,000 crore
• Target Revenue by FY29/30: >₹10,000 crore
• Target Fabrication Capacity: 200,000 MTPA

What to track next

Investors should monitor the integration progress, capacity expansion milestones, and the company's ability to meet its revenue growth targets in the competitive infrastructure sector.