About Lords Mark Industries Limited
A) Introduction

Lords Mark Group (Lords) was established in 1998 as a paper manufacturing company and has since diversified into a conglomerate. The company's business portfolio currently includes paper, renewable energy, and in vitro diagnostics (IVD)/surgery. With a strategic shift towards high-growth sectors, Rose is now focused on expanding its IVD business and entering the medical technology industry.

B) Business Dividends and Revenue Contribution

During FY2024, Lords Mark Group achieved a balanced revenue distribution across its business segments.

• IVD and renewable energy/LED businesses: each contributed approximately 41% of total revenue.

• Paper division: contributed the remaining 18%.

C) Strategic Developments

Divestment of Paper Division: The company plans to divest its paper division to further focus on emerging IVD/MedTech and Renewable Energy/LED businesses.

Reverse Merger Plans: Lord's plans to enter the listed sector through a reverse merger with a recently acquired listed company.

D) Renewable Energy & LED Division

Market Leadership: Lords has established itself as a leading provider of rooftop solar projects for government buildings and schools in Uttar Pradesh (UP) and Bihar.

Strategic Partnerships: The company has established design formulas for all defence warships and has partnered with the Philips brand for solar power and commercial lighting segments.

Future Goals: Lords is committed to promoting solar energy and aims to deploy 500 MW in the next seven years, with around 100 MW planned within the next two years.

Backlog: The current backlog is worth over Rs 2,000 crore, with additional backlog up to Rs 3,000 crore from various reputed sources like UPNEDA, BREDA, EESL, APDCL, Railways, Defence, Navy, etc.

Capex in Solar Module Plant: Plans have been made to set up a solar module plant in Lucknow by FY26.

E) IVD/MedTech Business Insights

Healthcare Innovation: Lords is leading the fight against non-communicable diseases through innovative rapid testing solutions.

Product Portfolio: The company's portfolio includes around 34 types of rapid test kits, biochemicals, and surgical consumables.

Expansion into MedTech: New initiatives include technology-driven machines for rapid testing of cancer, tuberculosis, and a foray into genomic testing.

R&D Collaboration: Rose has partnered with leading R&D institutes to develop rapid test kits for sickle cell anemia, providing a large market opportunity.

B2C Expansion Plans: The e-Smart Clinic design aims to penetrate the B2C healthcare market.

F) Financial Outlook

Capital Expenditure (Capex) Strategy: Lord's plans to incur a CapEx of around Rs 280Cr in FY2025 and FY2026, focused on the expansion of its facility in Vasai for rapid test kits and setting up a biochemistry laboratory in Lucknow.

Funding Structure: These expansions will be funded through a combination of internal provisions and capital infusions.

Strong Growth Curve: Lords has demonstrated robust financial performance with Revenue/EBITDA/PAT CAGRS of 28%/62%/93% over FY2021-FY2024, with margins increasing significantly from 4% in FY2021 to over 8% in FY2024.

G) Conclusion

Rosemark Group is poised for significant growth with its strategic focus on the IVD/MedTech and renewable energy sectors. The company's robust order backlog, innovative product development and significant investment plans are expected to drive further profitability and market expansion in the coming years.

Fundamentals