Shares of Lloyds Engineering surged 3% on 10 October after the company announced the signing of a Memorandum of Understanding (MoU) with Warsaw-based FlyFocus Sp. z o.o., a European specialist in unmanned aerial vehicles (UAVs) and avionics systems.

The two businesses will collaborate to create and construct the Defender SIGINT UAV, a next-generation platform for signal intelligence and electronic surveillance.

FlyFocus brings extensive experience in UAV design, avionics integration, and passive radar technologies, while Lloyds Engineering, which is well-known for marine and precision engineering systems such as steering gears and fin stabilisers, will oversee system integration, indigenisation, and local production in India.

The Defender UAV is designed for a variety of defence applications, including border and coastal monitoring, airbase protection, VIP security, electronic threat detection, and strategic reconnaissance, and represents a significant step forward in Lloyds Engineering’s growth into aerospace and military.

The collaboration also supports India’s broader defence ambitions under the Atmanirbhar Bharat and Make in India initiatives, with Lloyds Engineering gaining exclusive rights to the Defender UAV for Indian deployment and adaptation, with export potential in light of rising European defence spending and global demand for advanced unmanned systems.

Shree Krishna Gupta, director, Lloyds Engineering Works, said, “The Defender program marks a decisive step in our expansion into advanced defence platforms. Partnering with FlyFocus allows us to combine global UAV (drone) expertise with India’s growing manufacturing strength, delivering next-generation systems tailored for national security and future export potential.”

India’s defence sector is rapidly evolving, with domestic production topping Rs 1.27 trillion in FY24 and exports exceeding Rs 23,000 crore in FY25, marking a significant increase over the past decade. The defence sector, with a budget of Rs 6.8 trillion for FY26 and over 90% of contracts given to Indian enterprises, has significant policy visibility and growth potential.

Lloyds Engineering is also looking at new collaborations with European defence technology providers to provide specialised systems, such as aeronautical subsystems and electronic warfare payloads, to India’s defence manufacturing ecosystem. 

The company is actively increasing its capabilities, with the goal of delivering high-technology solutions while providing long-term value for stakeholders through innovation, localisation, and strategic partnerships. 

Lloyds Engineering Works, founded in 1994, is a prominent provider of customised process plant equipment in India. 

The company provides comprehensive engineering and infrastructure solutions, including design, production, fabrication, and installation. Its product offering includes heavy equipment, machinery, and systems for mining, metals (steel), hydrocarbons, oil and gas, thermal and nuclear power plants, heat recovery, and turnkey maritime projects.

Lloyds Engineering’s facilities have been certified and approved by multiple authorities, including the Industrial Boiler Regulatory Authority, SGS UK, and the Petroleum and Explosives Safety Organisation. Its cutting-edge production facilities are located in Murbad, Thane, Nagpur, and Bhilai, with corporate headquarters in Mumbai.

At 3:30 pm, the shares of Lloyds Engineering closed 1.39% higher at Rs 62.89 on NSE.

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