Synopsis:
Lloyds Engineering Works Limited has entered a strategic Memorandum of Understanding with Poland-based FlyFocus Sp. z o.o. to jointly develop advanced FPV drones for India’s defence and security sectors.
An engineering stock came into focus following news of a new defence technology partnership. The agreement focuses on expanding India’s UAV capabilities, covering both long-range surveillance and agile, short-range tactical drone systems. The collaboration ensures over 50 percent localisation and aligns with Make in India initiatives.
Lloyds Engineering Works Limited, with a market capitalization of Rs. 7,000.47 crore, opened at Rs. 61.36, touched a high of Rs. 61.78, and previously closed at Rs. 61.10, marking an increase of approximately 1.12 percent.
What’s the News?
Lloyds Engineering Works Limited has signed a Memorandum of Understanding with Poland-based FlyFocus Sp. z o.o. to jointly develop advanced First Person View (FPV) drones for India’s defence and security forces.
This initiative builds on their ongoing collaboration in the Defender drone program and introduces high-mobility, short-range UAV systems to complement existing long-range surveillance platforms.
The FPV drones are designed for real-time reconnaissance, urban security, training exercises, and special operations, bringing precision, situational awareness, and speed to tactical missions.
FlyFocus will provide structured technology transfer, enabling Lloyds Engineering to achieve more than 50 percent local content through domestic component manufacturing and final assembly. The company will also hold exclusive rights to adapt and deploy FPV systems in India, securing operational sovereignty and potential export opportunities.
The initiative aligns with Make in India and Atmanirbhar Bharat policies, enhancing India’s self-reliance in advanced defence manufacturing. With FY26 defence allocations exceeding Rs. 6.8 lakh crore and over 90 percent of contracts awarded to Indian firms, Lloyds Engineering is positioned to leverage domestic and global opportunities.
Beyond FPV and Defender platforms, the company is exploring collaborations in aerospace subsystems, electronic warfare, and mobility technologies, reinforcing its leadership in India’s evolving defence ecosystem.
Comments from Management
Mr ShreeKrishna Gupta, Director, Lloyds Engineering Works Limited, said: “This MoU represents the next phase of our collaboration with FlyFocus. FPV drones will give Indian forces unmatched tactical flexibility and real-time capability. We’re committed to localising this technology and building future-ready solutions for India.”
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Financial Snapshot
Quarter-on-quarter, sales declined from Rs. 232 crore to Rs. 217 crore, down 6.47 percent. Operating profit fell from Rs. 35 crore to Rs. 27 crore, a 22.86 percent decrease. PBT decreased from Rs. 35 crore to Rs. 30 crore, down 14.29 percent, while net profit rose from Rs. 20 crore to Rs. 30 crore, a 50 percent increase.
Year-on-year, sales decreased from Rs. 266 crore to Rs. 217 crore, down 18.42 percent. Operating profit fell from Rs. 44 crore to Rs. 27 crore, down 38.64 percent. PBT dropped from Rs. 48 crore to Rs. 30 crore, a 37.5 percent decline, and net profit declined from Rs. 36 crore to Rs. 30 crore, down 16.67 percent.
About the Company
Incorporated in 1994, Lloyds Engineering Works Limited offers end-to-end customised process plant equipment and engineering solutions across multiple sectors, including mining, steel, hydrocarbons, oil & gas, thermal and nuclear power, heat recovery, and marine.
The company handles design, manufacturing, fabrication, and turnkey installation. Its facilities, approved by authorities such as the Industrial Boiler Regulatory Authority, SGS UK, and the Petroleum and Explosives Safety Organisation, are located in Murbad, Thane, Nagpur, and Bhilai, with headquarters in Mumbai.
Written By Manan Gangwar
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