Shyam Metalics and Energy Limited’s board has approved the voluntary liquidation of Shyam Metalics International DMCC. The board also approved projects/expansion plans involving capital expenditure. Additionally, Mr. Subrata Bhattacharya has been appointed as an Additional Director in the Independent Category. The meeting was held on January 24, 2026.
Voluntary Liquidation Approved
The Board of Directors has approved the voluntary liquidation of Shyam Metalics International DMCC (SMIDMCC), a wholly-owned subsidiary. The decision stems from the fact that the proposed business activities of SMIDMCC could not be realized due to geopolitical uncertainties, and the entity has remained non-operational since incorporation.
Expansion Plans Greenlit
The Board has approved new projects and expansion plans. These include:
- Wagon Manufacturing Facility at Kharagpur: Capacity of 4,800 wagons per annum with an estimated cost of ₹200 crore, expected to commission by September 30, 2027.
- Blast Furnace Expansion: Increasing capacity from 0.45 MTPA to 0.55 MTPA with an investment of ₹200 crore, aiming for completion by June 30, 2027.
- Power Plant at Sambalpur: A plant with 80 MW capacity costing ₹450 crore, targeting completion by June 30, 2027.
- Hot Rolling Mill & Furnace: An estimated cost of ₹5,400 crore, with expected completion by September 30, 2029; output of 15,80,000 TPA
- Blast Furnace Expansion: Growing from 0.77 MTPA to 0.98 MTPA, investing ₹410 crore to have completed by June 30, 2027.
Leadership Addition
Subject to member approval, Mr. Subrata Bhattacharya has been appointed as an Additional Director in the Independent Category, serving for a term of 5 years (February 1, 2026, to January 31, 2031). A postal ballot will be used to seek approval from members regarding the appointment, with a cut-off date of February 6, 2026.
Financial Performance Highlights
The Unaudited Integrated Financial Results for Q3 (October-December) 2025, both standalone and consolidated, were reviewed and approved.
Source: BSE
