| Lloyds Metals & Engineers Limited (formerly known Nagarjuna Metals & Engineers Limited) was incorporated in April, 1977. The Company is into the business of mining of Iron Ore, manufacturing of Sponge Iron and generation of Power.
The company in Feb. 1995, came out with a public issue at a premium of Rs.140 to partfinance its project to manufacture Sponge Iron (1.5 lakh TPA capacity) and ERW Pipes( 75000 TPA capacity) and to meet its longterm working capital requirements. First phase of the project was commissioned in Sep 1995.
The company proposes to tap the international market again to increase the sponge iron plant capacity to 6,00,000 tpa by setting up additional kilns with associated power plants and for undertaking iron ore mining by acquiring and developing iron ore mines near the sponge iron plant to economise on the production cost of sponge iron. The work on sponge iron second phase to enhance production capacity alongwith captive power plant of 12 MW is progressing slow due to change in plant technology. The company's revised proposal is under consideration with financial institution.
As Part of the revival of the economic condition of the Company, the Scheme of Arrangement in respect of de-merger of the C.R. sheets division into Encon Technologies Limited and amalgamation of rest of the Company thereafter with Insco Steels Limited is proposed to be effected and the same has been approved by the Members at their meeting held on June 1st, 2000.
The Company has become a Sick Company and reference has been registered during the year with BIFR to seek determination of measures.
During the year 2004-05, the Company floated a wholly owned subsidiary for the purpose of Iron ore mining activities.
The Company with the approvals of the shareholders and creditors as also of the Honb'le High Court of Judicature at Bombay vide it's Order passed on 24 April, 2009, transferred / demerged it's Steel Tubes and Pipes Undertaking at Murbad under Scheme of Arrangement into it's wholly owned subsidiary M/s Lloyds Line Pipes Ltd (LLPL), from November 1 , 2008, as the Appointed Date and accordingly, all the property, assets, rights, claims, title, interest, authorities, liabilities comprised in the Steel Tubes and Pipes Undertaking of the Company at Murbad, was transferred to LLPL on going concern basis, which became effective from the date of the above transfer i.e., 14 May, 2009.
M/s. Gadchiroli Metals and Minerals Limited, ceased to be wholly owned subsidiary of the Company due to dilution of shareholding during the year 2013-14.
During the year 2014-15, Company commissioned it's 30 MW co-generation Waste Heat Recovery Based (WHRB) Power Plant, at Ghugus, Maharashtra.
In 2021, the Company entered into a strategic partnership with MDO contractor, Thriveni Earthmovers Private Limited (Copromoter), and from September, 2021 the mine re-commenced the operations in full capacity with the assistance of Thriveni Earthmovers Private Limited.
In 2021, the Company got into an MOU with Thriveni Earthmovers Private Limited, for operating an Mining Development Operators Contractors (MDO) and pursuant to this MOU, the Thriveni Earthmovers Private Limited and Lloyds Metals and Energy Limited incorporated a Joint Venture Company 'Thriveni Lloyds Mining Private Limited' on 28th May, 2020 in the ratio of 60:40, for doing Mining
Operations only. In 2022, it started with two modules of 95 TPD Sponge iron plant along with 4 MW waste heat recovery power plant and started studying for a 3 MTPA flat product ISP at Konsar.
In 2023, the Company developed a 'Stockyard' near Allapalli with a truck weighment and screening facility capable of handling 10 Million Metric Tonnes of Iron Ore material per annum. It started with two modules of 95 Tonnes per day sponge iron plant along with 4 Mega Watt waste heat recovery power plant, totaling 62,700 MTPA. It developed domestic market for foundry grade pig iron, iron ore pellets and expanded export market for pellets.
In 2022-23, Thriveni Lloyds Mining Private Limited became a subsidiary of the Company effective 20th January, 2023; Lloyds Infinite Foundation was made a wholly owned subsidiary of the Company effective from 18th October, 2022. |