India: Lloyds Metals produces 6.05 mnt iron ore in Q1FY27, up 53% y-o-y

• Iron ore output rises 53% y-o-y to 6.05 mnt
• Pellet capacity doubles to 8 mnt after expansion

Lloyds Metals and Energy Limited (LMEL) reported iron ore production of 6.05 million tonnes (mnt) in Q1FY27 (April-June 2026), up 53% year-on-year (y-o-y), supported by higher mining activity at its Surjagarh mines in Maharashtra.

The company maintained its FY27 iron ore production guidance at 26 mnt against 21.96 mnt produced in FY26. However, output moderated q-o-q from 9.1 mnt in Q4FY26 amid seasonal factors and monsoon-related movement.

Additionally, BHQ production stood at 5.89 mnt during the quarter. The company plans to process the material after commissioning beneficiation facilities, which are expected to support additional pellet feed availability.

However, iron ore output declined around 34% quarter-on-quarter (q-o-q) from 9.1 mnt in Q4FY26 amid seasonal factors and monsoon-related movement.

The company maintained its FY27 iron ore production guidance at 26 mnt against 21.96 mnt produced in FY26. Additionally, BHQ production stood at 5.89 mnt during Q1FY27, which the company plans to process after commissioning beneficiation facilities.

Pellet production rises after capacity expansion

Pellet production stood at 1.69 mnt in Q1FY27 following the commissioning of LMEL’s second 4-mnt pellet plant at Konsari, taking total pellet capacity to 8 mnt/year.

The earlier 4-mnt pellet unit produced 3.03 mnt in FY26 at full utilisation. Based on FY26 run rates, Q1FY27 pellet production indicates a sharp ramp-up in downstream operations after the commissioning of the second unit.

The additional pellet volumes could improve merchant pellet availability in central and western India, particularly for sponge iron and secondary steel producers.

DRI output more than doubles y-o-y

DRI production increased 131% y-o-y to 182,460 tonnes in Q1FY27 from 79,000 t a year ago following the commissioning of the company’s new DRI facility during FY26.

The company’s integrated operations, including captive iron ore supply and slurry pipeline connectivity, continue to support higher downstream production and operational efficiency.