Shyam Metalics and Energy Limited has reported a strong performance for the full year FY26, with revenue growing 22% and profitability increasing 17%. The company achieved a sales volume of 4.94 million tonnes, marking a 26% year-on-year growth. Building on this momentum, the Board has approved a new capital expenditure of INR 2,700 crores to drive expansion in value-added specialty steel, stainless steel, and downstream segments over the next 2.5 years.
FY26 Financial Highlights
The company concluded FY26 with robust results, demonstrating consistent operational efficiency. Annual turnover reached INR 18,552 crores, a 22% increase year-on-year. Profit after tax (PAT) rose to INR 1,061 crores, reflecting a 17% growth. The fourth quarter was particularly strong, with revenue rising 27% and profitability growing 42% year-on-year, supported by a favorable product mix and improved realizations.
Strategic Growth and Operational Milestones
During FY26, the company successfully reached several key manufacturing milestones. The Phase 2 operation of the CRM complex at Jamuria was commissioned, while the blast furnace at the Kharagpur plant is now operational. These developments have significantly enhanced downstream capabilities and supported a 22% growth in total sales volume. Additionally, the company is diversifying its aluminum operations through the commissioning of a new caster and foil plant.
Future Outlook and Capex Plans
To support its long-term growth strategy, the company has announced a fresh capex investment of INR 2,700 crores. This investment includes two major projects: a long specialty wire and bar mill at Kharagpur with an 8 lakh tonne capacity, and a significant expansion of stainless steel capacity to 6 million tonnes at Sambalpur. These projects, slated for commissioning by March 2029, will be primarily funded through internal accruals. The company maintains a strong balance sheet with robust cash generation, reporting over INR 2,000 crores in operating cash flow for FY26, and remains committed to a low-leverage financial profile.
Source: BSE
