Image Source : Iloydsengg.in
Lloyds Engineering Works Ltd has incorporated a dedicated unit to expand into India's defence sector and partnered with Flyfocus for advanced drone technology development. This strategic dual move positions the company to tap into rising domestic defence manufacturing opportunities under Atmanirbhar Bharat initiatives.
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Lloyds Engineering Works Ltd, a key player in engineering and fabrication, is accelerating its diversification into high-growth defence manufacturing. The company has established a new subsidiary focused on defence production while forging a partnership with Flyfocus to co-develop cutting-edge drone systems.
Key Highlights
New Subsidiary: Incorporation of a wholly-owned unit specifically targeting defence sector opportunities, including equipment fabrication and assembly.
Drone Partnership: Collaboration with Flyfocus Pvt Ltd for advanced unmanned aerial vehicles (UAVs), leveraging Lloyds' engineering expertise.
Strategic Rationale: Aligns with India's push for indigenous defence production, potential for government contracts and export markets.
Market Context: Enhances Lloyds' order book diversification beyond traditional sectors like oil & gas and heavy engineering.
These initiatives signal strong growth prospects amid escalating defence budgets.
Source: Corporate disclosures by Lloyds Engineering Works Ltd to BSE and NSE
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