The company was incorporated on 10th November 1987 by Fedders Lloyd as a private limited company and was converted into a public limited company on 18th April 1994. The
company plans to become more adaptable to Indian and global technological scenario by making innovative changes in products through continuous interaction of their R&D Department with Marketing Department to satisfy customer needs. The Company has made profits and has grown at a rate of over 18.68%. The company has imported a lot of equipments to use indigenous technology and constantly strive to upgrade the process and product.

Goldman Sachs Investments (Mauritius) Limited have acquired 471,470 shares aggregating to 2.64% of the total paid up capital of Lloyd Electric & Engineering Limited on May 06, 2005. The mode of acquisition is through Open Market and the shareholding of Goldman Sachs Investments (Mauritius) Limited after the said acquisition is 11,71,470 shares aggregating to 6.57% of the total paid up capital of Lloyd Electric & Engineering Limited. In January 2007, Morgan Stanley bought 700,000 shares at Rs 172.79 a share of Lloyd Electric & Engineering. In January 2005, Lloyd Electric & Engineering Ltd has successfully set up a unit at Kala Amb, Himachel Pradesh, for manufacture of Condensing Units as well as Split AC. The Company has informed that the commercial production of the said unit has commenced.

Products & Services:

Lloyd Electric And Engineering Ltd., having at present an installed capacity to manufacture over 1,50,000 coils for standard air conditioners and 20,000 coils for air conditioners
of capacity of 15 tons. The company a profit making, dividend paying company, is engaged in the manufacture of condenser coils and evaporator coils, fan coils, cores for car evaporator coils, air colled chillers, condensing units, which are used as original equipment in window, package, automotive and split air conditioners. The company has also been in the continuous process of innovation and introduced technologically superior product to provide customer value, eg. Introduction of Fuzzy logic evaporator units for Split Air conditioners. The company sells its product to the leading manufacturers of air conditioners like Voltas, Shriram Industrial Enterprises Ltd, Sanden Vikas Ltd, Mitsubishi Aircommand, Amtrex etc. The company has become market leader and is catering to the demand of Airconditioning Industry in the national as well as international market.

Credit rating agency, CARE has revised the rating assigned to CP/STD program aggregating Rs 650 million (within working capital limits) of Lloyd Electric & Engineering (LEEL)
from PR1+ (under credit watch) to PR1.

Valuation:

At current market price, stock is trading at 3.78 P/E multiple of its FY2010 estimated earnings. We recommend investors to buy “Lloyd electric and engineering limited” for short to
medium term investment horizon.