Lloyds Engineering Bags ₹20.67 Crore Order from Cochin Shipyard for Naval Fin Stabilizers

23 May 2025 , 12:40 PM

Lloyds Engineering wins new order worth ₹20.67 Crores from Cochin Shipyard Ltd to provide naval grade Fin Stabilizers for the Next Generation Missile Vessels of India. These stabilizers are essential equipment used to reduce ship roll and improve stability during navigation of warships and helicopters in rough seas.

The contract is a milestone in the collaboration between Cochin Shipyard and the Indian Navy which is a part of the Defence Ministry’s initiative of ‘Make in India.’ Six of the NMGVs are currently being built together. The entire project was estimated to cost around ₹9,804 crore on the date of its inauguration in 2023.

Lloyds Engineering has now secured more than ₹130 crore in defence orders in the last 14 months, a drastic increase from its role as a vendor of defence equipment.

The firm is also looking at further growing its footprint in the defence manufacturing business, given the expanding defence pie with India’s defence spend rising. As per Whole-Time Director Shreekrishna Gupta, these contracts not just add very constructive financial value, but also new customers and potential for long-term business arrangements and repeat orders.

Lloyds Engineering has made a mark in the Fin Stabilizer systems and has supplied these systems for the vital Indian defence platforms thereby Lloyds Engineering carries an established name. They have also been fitted on the Indian Naval warship INS Brahmaputra, in addition to Indian Cost Guard ships including the ICGS Varad and ICGS Vigraha.

Fin Stabilizer is the key equipment to keep the balance and work efficiently when the boat is on the sea. The systems are common on military vessels, freight ships, and civilian marine fleets and are designed to help optimize sailing performance and platform usability, particularly during helicopter operations.

Q4 Result Updates:

On the financial side, the company announced that it has posted a total income of ₹231.96 crore in Q4 FY25 – a robust 23% YoY growth in revenue for the quarter ended March 2025. But the net profit for the quarter was ₹18.26 crore, a drop of 13% on a year-on-year basis, possibly on account of higher input or operating expense. Despite fall in net profit, the company posted a good show at the operating level with its margins improving 0.5% at 13.65% in Q4 FY25.