Lloyds firmly believes that the defence vertical holds immense strategic importance and offers substantial growth potential for the future, the company said in a regulatory filing. The newly incorporated wholly-owned subsidiary Lloyds Advance Defence Systems Ltd. is dedicated exclusively to the rigorous demands of the sector enabling agility, specialised compliance, and a concentrated approach to indigenous manufacturing.
“LEWL believes that this strategic synergy of global technology and robust local execution will serve as a cornerstone in the Company’s growth trajectory, driving sustained value creation in the years ahead,” the company said. It is fully aligned with the nation’s focus on indigenous manufacturing, ensuring that advanced defence solutions are not just adopted but built within the country, it added.
Lloyds Engineering Works has also executed a number of international collaborations that would bring critical know-how and technological impetus to the new defence wing, positioning it to deliver advanced solutions immediately. With this, the company expressed confidence in its ability to deliver world-class defence equipment tailored to India’s growing security needs.
LEWL has partnered with FlyFocus Sp. z o.o. (Poland) to jointly introduce advanced First Person View (FPV) drones. This collaboration focuses on bringing next-generation, rapid-response tactical UAVs to India. For marine and underwater systems, Lloyd has executed agreements with Kliver Polska Sp. z o.o. (Poland) for the design and prototyping of critical marine infrastructure, including Towed Reels for multifunctional underwater platforms and Operational Test Tilt Stands.
The company has also partnered with Virtualabs S.r.l. (Italy) for the development of cutting-edge radar technology applicable to both defence and civil domains.
The shares of Lloyds Engineering Works Ltd. reported a 2.17% rise with share price at Rs 51.70 per scrip as on 14:05 on BSE.