Lloyds Enterprises is acquiring an additional 17.98% stake in Steel Infra Solutions Company Limited (SISCOL) for ₹1,073 crore. This move increases the group's total stake in SISCOL to approximately 88%. SISCOL is a significant structural steel fabricator with a substantial order book.

Lloyds Enterprises Boosts Steel Infra Solutions Stake

Lloyds Enterprises to acquire an additional 17.98% stake in Steel Infra Solutions Company Limited (SISCOL) for ₹1,073 crore.
Reader Takeaway: Increased control in fabrication sector; SISCOL's large order book is a positive.

What just happened

Lloyds Enterprises Limited (LEL) has agreed to purchase an additional 17.98% holding in Steel Infra Solutions Company Limited (SISCOL). This transaction raises the Lloyds Group's consolidated ownership in SISCOL to approximately 88%.

The total consideration for this acquisition is ₹1,073 crore. This values SISCOL at an implied ₹1,220 crore. LEL's direct contribution to this deal is ₹219 crore.

Why this matters

This move signifies Lloyds Enterprises' strategic intent to consolidate its position in the structural steel fabrication industry. A higher stake in SISCOL means greater control over a key operational asset, potentially leading to enhanced synergies and profitability for the Lloyds Group.

SISCOL is a significant player, with projected FY26 revenues of around ₹817 crore and an EBITDA of approximately ₹92 crore. Its profit after tax is projected at ₹44 crore. The company also holds a substantial order book valued at roughly ₹1,134 crore, indicating strong near-term revenue visibility.

The backstory

SISCOL operates six manufacturing units with a combined capacity of 100,000 MTPA across Bhilai, Vadodara, and Hyderabad. It provides a full spectrum of services, including design, engineering, fabrication, and erection. Since 2018, SISCOL has completed 187 projects in 22 states, serving major clients like L&T, Tata Projects, and Adani Power.

What changes now

SISCOL will continue to operate as a distinct legal entity under its existing brand and leadership. Ravi Uppal will remain as Chairman and Managing Director, ensuring business continuity for clients and partners.

Risks to watch

While the acquisition strengthens control, integration challenges and the ability to fully leverage SISCOL's capabilities within the Lloyds Group framework will be critical. Market conditions affecting the steel fabrication sector and project execution timelines are also key considerations.

Peer comparison

Companies in the structural steel fabrication sector include players like Kalpataru Projects International, Skipper Ltd, and JSW Steel. SISCOL's large order book and full-stack service model position it competitively within this segment.

Context metrics (time-bound)

• SISCOL's projected FY26 Revenue: ~₹817 crore
• SISCOL's projected FY26 EBITDA: ~₹92 crore
• SISCOL's projected FY26 Profit After Tax: ~₹44 crore
• SISCOL's current Order Book: ~₹1,134 crore

What to track next

Investors will be looking for updates on how Lloyds Enterprises integrates SISCOL's operations to drive growth and improve margins. Monitoring the execution of the ₹1,134 crore order book will be crucial.