NSEMonitoring Agency Report2 Nov 2026 · 2 Nov 2026, 10:01 pm
Monitoring Agency Report
LLOYDS ENGINEERING WORKS LIMITED · LLOYDSENGG
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Lloyds Engineering Works Limited has submitted its third Monitoring Agency Report for the quarter ended September 30, 2026, regarding the utilization of proceeds from its Rights Issue aggregating to Rs.987.25 Crore.
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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact6/10
Market Sentiment5/10
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Monitoring Agency report for quarter ended September 30, 2026 of Rights issue
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LSIL_02112026220132_MONITORINGAGENCYREPORTRIGHTSISSUE.pdf
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RS/LLOYDSENGG/BSEL-NSEL/2026/95 November 02, 2026
The Department of Corporate Services, The National Stock Exchange of India Limited
BSE Limited Exchange Plaza, Bandra Kurla Complex,
27th Floor, P.J. Towers, Dalal Street, Bandra (East), Mumbai - 400 051
Mumbai - 400 001
Scrip Code: 539992 Symbol: LLOYDSENGG
ISIN: INE093R01011
Dear Sir,
Sub.: Monitoring Agency Report for the quarter ended 30th September, 2026
Ref: Allotment of Rights Issue of shares on 5th June 2025
Pursuant to Regulation 32 (6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 read with Regulation 82 of Securities and Exchange Board of India (Issue of
Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith, the Monitoring
Agency Report for the quarter ended 30th September, 2026, issued by Brickwork Ratings India Private
Limited, reviewed and approved by the Audit Committee and then approved by Board of Directors of the
Company.
The same is also available on the website of the Company at www.lloydsengg.in.
Request you to take the above information and enclosed documents on your records.
Thanking You,
Yours faithfully,
For Lloyds Engineering Works Limited
Rahima Shaikh
Company Secretary and Compliance Officer
ACS: 63449
Lloyds Engineering Works Limited
www.lloydsengg.in
Registered Office : Plot No. A-5/5, MIDC Industrial Area, Murbad, District Thane – 421 401 | +91 2524 222271 | +91 95456 54196
C orporate Office : A-2, 2nd Floor, Madhu Estate, Pandurang Budhkar Marg, Lower Parel (W), Mumbai – 400 013 | +91 22 6291 8111 infoengg@lloyds.in
W orks : Plot No. A-5/4, A-5/5 & A-6/3, MIDC Industrial Area, Murbad, District Thane – 421 401
: K-3, Additional Murbad Industrial Area, Kudavali Village, MIDC Murbad, District Thane – 421 401 CIN: L28900MH1994PLC081235
Brickwork Ratings India Private Limited
BRICK“’/ORKW 3rd Floor, Raj Alkaa Park, Kalena Agrahara
RATINGS Bannerghatta Road, Bengaluru - 560 076
P: +91 80 4040 9940/9999
Monitoring Agency Report for
Lloyds Engineering Works Limited
for the quarter ended
September 30, 2026
info@brickworkratings.com | www.BrickworkRatings.com | CIN: U67190KA2007PTC043591
" Brickwork Ratings India Private Limited
BRICK“’/ORK 3rd Floor, Raj Alkaa Park, Kalena Agrahara
RATINGS Bannerghatta Road, Bengaluru - 560 076
P: +91 80 4040 9940/9999
No. BWR/2026-27/IPM/LEWL/03
November 02, 2026
Lloyds Engineering Works Limited
A-2, 2" Floor, Madhu Estate,
Pandurang Budhkar Marg, Lower Parel,
Mumbai - 400013
Dear Sir/Ma’am,
Third Monitoring Agency Report for the quarter ended September 30, 2026-
in relation to the Rights Issue of Lloyds Engineering Works Limited (“the Company”)
Pursuant to Regulation 82 (2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
(“SEBI ICDR Regulations”) and Monitoring Agency Engagement Letter dated March 03, 2026, Brickwork
Ratings (BWR) has prepared the Third Monitoring Agency Report, as per Schedule XI of the SEBI ICDR
Regulations towards utilisation of proceeds of funds raised, for the quarter ended September 30, 2026.
The funds raised by the Company were through Rights Issue aggregating to Rs.987.25 Crore of the
Company.
In this connection, we are enclositnhge Monitoring Agency Report for the quarter ended September 30,
2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated March 04, 2026.
Request you to kindly take the same on records.
Thanking you,
Yours Faithfully,
Digitally signed by
NIRAJ KUMAR NiraJ KUMAR RATHI
RATHI Date: 2026.11.02
18:49:21 +05'30
Mr Niraj Kumar Rathi
Senior Director, Ratings - Brickwork Ratings
info@brickworkratings.com | www.BrickworkRatings.com | CIN: U67190KA2007PTC043591
Brickwork Ratings India Private Limited
BRICV\“’/ORV\'M 3rd Floor, Raj Alkaa Park, Kalena Agrahara
RATINGS Bannerghatta Road, Bengaluru - 560 076
P: +91 80 4040 9940/9999
Report of the Monitoring Agency (MA)
Name of the issuer: Lloyds Engineering Works Limited
For quarter ended: September 30, 2026
Name of the Monitoring Agency: Brickwork Ratings India Private Limited
(a) Deviation from the objects: No
(b) Range of Deviation: Not Applicable
Declaration:
We declare that this report is based on the format prescribed by the SEBI (ICDR) Regulations, 2018, we further
declare that this report provides a true and fair view of the utilization of the issue proceeds in relation to the objects
of the issue based on the information provided by the Issuer and information obtained from sources believed by it
to be accurate and reliable.
We declare that we do not have any direct/indirect interest in or relationship with the
issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such
relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer.
The MA does not perform an audit and undertakes no independent verification of any information/ certifications/
statements it receives. This Reporits not intended to create any legally binding obligations on the MA which accepts
no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions
expressed herein do not constitute the opinion of MA to deal in any security of the Issueirn any manner whatsoever.
Nothing mentioned in this report is intended to or should be construed as creatinag fiduciary relationship between
the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do notact as
an expert as defined under Section 2(38) of the Companies Act, 2013.
The MA or its affiliates may have a credit rating or other commercial transactions with the entity to which the report
pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm
that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the
issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity.
We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where
applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall
be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA
submitting their report to the issuer and before dissemination of the report through stock exchanges. These
sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s
Management/Board.
Digitally signed b
NIRAJ KUMAR NiRAJ KUMAR RATHI
RATHI Date: 2026.11.02
18:49:38 +05'30'
Signature:
Name of the Authorized Signatory: Mr Niraj Kumar Rathi
Designation of Authorized Person/Signing Authority: Senior Director, Ratings, Brickwork Ratings
info@brickworkratings.com | www.BrickworkRatings.com | CIN: U67190KA2007PTC043591
Brickwork Ratings India Private Limited
BRICKWORK"
3rd Floor, Raj Alkaa Park, Kalena Agrahara
Bannerghatta Road, Bengaluru - 560 076
RATINGS
P: +91 80 4040 9940/9999
1) Issuer Details:
Name of the issuer: Lloyds Engineering Works Limited
Names of the promoter: Mukesh Rajnarayan Gupta
Renu Rajesh Gupta
Abha Gupta
Rajesh Rajnarayan Gupta
Lloyds Enterprises Limited
Indus/ tsecrtoyr to which it belongs: Manufactu-r Hienavgy Equipments
2) Issue Details:
Issue period: 15" May 2025 to 30" May 2025
Type of issue (public/ rights): Rights Issue
Type of specified securities: Partially Paid-up Equity Shares
IPO Grading, if any: Not Applicable
Issue size (in X Crore): Rs 987.25
Value as per
. Total Number Offer Document Total Amount Received
Particulars Price (%)
of Securities Offered R Crore) (X Crore)
Equity Shares 308517476 32 987.25 982.42*
Total 308517476 32 987.25 982.42*
Notes:
* The Company has undertaken a partially paid-up rights issue of equity shares with a total issue size of Rs. 987.25
crore.
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