Lloyds Engineering Works Limited Acquires SISCOL to Establish Integrated EPC Platform Targeting ₹10,000 Crore Revenue by FY30

Lloyds Engineering Works Limited Acquires SISCOL to Establish Integrated EPC Platform Targeting ₹10,000 Crore Revenue by FY30​

Lloyds Engineering Works Limited (LEWL), one of India's rapidly growing engineering and EPC companies, has announced the acquisition of Steel Infra Solutions Company Limited (SISCOL), a leading structural steel engineering and fabrication firm. This strategic move aims to transition LEWL from a specialist manufacturer into a fully integrated platform capable of handling complex projects across industrial infrastructure, transportation, urban development, and energy sectors.

The combination of both companies’ capabilities is set to address the multi-decade infrastructure investment cycle taking place in India, encompassing railways, metro systems, airports, and commercial real estate.

Strategic Acquisition Completes Transformation​

The acquisition marks a significant milestone for LEWL, which has demonstrated remarkable growth over seven years in the Indian engineering sector. The company grew from approximately ₹80 crore of revenue in FY19 to more than ₹3,000+ crore currently, backed by an order book exceeding ~₹8,000 crore.

By integrating SISCOL’s proven expertise in structural steel design, fabrication, and erection with LEWL’s existing engineering, manufacturing, and EPC execution strengths, the combined entity will be positioned to deliver large-scale projects end-to-end.

SISCOL holds extensive experience in complex structural engineering, having executed 187 such projects across 22 states since 2018. Its project portfolio includes landmark assignments such as:

• Delhi Airport Terminal 1
• Noida International Airport, Jewar
• Dwarka Convention Centre
• International Hockey Stadium, Rourkela
• Data centre developments and multiple railway and road bridges.

The integrated business will benefit from a comprehensive design-to-delivery solution, covering engineering, structural design, fabrication, civil execution, and project delivery for clients ranging from L&T and Tata Projects to Adani Group companies and DP World.

Financials and Transaction Details​

SISCOL enters the Lloyds ecosystem as a high-quality engineering platform with significant operational track record. For FY26, SISCOL reported revenue of approximately ₹817 crore, EBITDA of approximately ₹92 crore, and profit after tax of approximately ₹44 crore. The company maintains a robust order book totaling approximately ₹1,134 crore, ensuring strong near-term visibility.

The acquisition transaction implies an equity valuation for SISCOL at approximately ₹1,220 crores. The total consideration stands at approximately ₹1,073 crores, funded through a combination of cash and equity. LEWL is spearheading the acquisition, contributing over 50% of the overall consideration.

Key operational capabilities expected from the combined platform include:

Synergies and Future Vision​

The acquisition is expected to generate substantial value beyond immediate revenue addition. Operationally, the integration of procurement, project management, engineering resources, finance, and manufacturing planning across both companies aims to drive meaningful efficiency gains and improve operating margins over time.

Mr. ShreeKrishna Gupta, Executive Director at Lloyds Engineering Works Limited, stated that the acquisition is not merely about capacity but about building a future platform. He noted that combined with LEWL's EPC strengths, they aspire to create one of India's leading integrated engineering and infrastructure companies, aiming for annual revenue exceeding ₹10,000 crore by FY29/FY30.

Ravi Uppal, Chairman and Managing Director of SISCOL, shared his excitement about joining the Lloyds Group, noting that both entities share complementary strengths and significant business synergies. He underscored the market potential, stating that steel-based infrastructure and core industries are poised for double-digit growth for at least two decades.

SISCOL will continue to operate under its existing legal entity, brand identity, and leadership team.

LLOYDSENGG Stock Price Movement​

Shares of LLOYDS ENGINEERING WORKS LIMITED slipped by 2.81% today, settling at ₹85.26 in post-market trading. This late-session move came amid a volume of 55.65 million shares, despite the equity having previously reached its 52-week high of ₹89.78 during market hours.