Lloyds Engineering Works Limited (LEWL) has signed a Memorandum of Understanding (MoU) with The Material Works, Ltd. (TMW) to transfer cutting-edge and environmentally friendly technology, Eco Pickled Surface (EPS Gen 4), for pickling of all qualities of steel including stainless steel. This MoU grants LEWL the exclusive right to design, manufacture, and sell EPS Gen 4 technology in India and Bangladesh, affirming LEWL’s commitment to sustainable and technologically advanced manufacturing practices.
The transfer of this technology over three years will empower LEWL to localize the manufacturing process in India, supporting the ‘Make in India’ initiative and fostering growth within the domestic market.
EPS Gen 4 is a revolutionary pickling technology that offers several significant benefits over traditional methods:
- Eco-friendly: EPS Gen 4 eliminates the need for hazardous acids, minimizes pollution, and provides a safer working environment.
- Asset-light: EPS Gen 4 is less expensive to operate than traditional pickling methods, reducing operational costs and optimizing resource allocation for the user industry.
Lloyd Engineering Works Limited (LEWL), is a provider of engineering and infrastructure solutions. The services include designing, engineering, manufacturing, fabrication, and installation of heavy equipment, machinery, and systems for customers in the hydrocarbon (oil & gas) sector, steel processing industries, captive power plants used in steel plants, marine sector, ports, civil domains, and nuclear power plants. The company offer services in civil construction-related projects.
LEWL is a small company with a market capitalization of over Rs 4,500 crore. The company’s profits have grown at a compound annual growth rate (CAGR) of 79.3% over the past 5 years, and it has been paying a healthy dividend of 34.1% of its profits.
LEWL shares rose 1.36% to Rs 42.45 per share on Thursday, with an intraday high of Rs 43.40 and an intraday low of Rs 41.88. The stock has given multibagger returns of 153% in the last 6 months and over 220% in the last year.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.