The board of product engineering solutions company Lloyds Steels Industries Ltd. will meet on Wednesday, June 14, to consider raising funds through various facilities.

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The board will consider a proposal for raising funds by issuance of equity shares or convertible bonds or debentures or any other securities through modes such as rights issue, preferential issue or qualified institutions placement, the company informed stock exchanges.

Lloyds Steels Industries provides engineering and infrastructure solutions by carrying out designing, engineering, manufacturing, fabrication and installation.

The company has manufacturing facilities located at Murbad, Thane, and is headquartered in Mumbai.

Its order book as of March 2023 stood Rs 683 crore, which was 2.2 times of financial year 2023 revenue of Rs 312.6 crore. The order book increased by 1.8 times year-on-year in the previous financial year.

The company plans to set up new manufacturing capacities to support an increasing order book and future growth, according to its investor presentation.

It plans to further spend Rs 50 crore during financial year 2024 for capacity enhancement. For the March quarter, the company reported revenue of nearly Rs 174 crore from just Rs 18 crore during the same period in financial year 2022 led by strong order inflows and swift project execution.

Shares of Lloyds Steel and Industries are currently trading 1.7 percent higher at Rs 26.90.