Shyam Metalics’ Board of Directors has approved the voluntary liquidation of Shyam Metalics International DMCC (SMIDMCC). Expansion plans were approved, including new projects in Kharagpur, Sambalpur & more, with an investment of ₹6,660 crore. Mr. Subrata Bhattacharya has been appointed as an Additional Director in the Independent Category. The announcements were made after a board meeting held on January 24, 2026.
Voluntary Liquidation of SMIDMCC
The Board has approved the voluntary liquidation of Shyam Metalics International DMCC (SMIDMCC), a wholly-owned subsidiary. The decision was driven by the inability to materialize proposed business activities due to geopolitical uncertainties. Since its incorporation, SMIDMCC has remained non-operational, incurring recurring operational and statutory compliance costs without strategic benefits.
Significant Expansion Projects Approved
The Board has approved new projects and expansion plans with a capital expenditure of ₹6,660 crore. Key projects include:
- Wagon Manufacturing Facility at Kharagpur: Capacity of 4,800 wagons per annum with an estimated cost of ₹200 crore, expected to be commissioned by September 30, 2027.
- Blast Furnace Expansion: Expanding from 0.45 MTPA to 0.55 MTPA at an estimated cost of ₹200 crore, expected by June 30, 2027.
- Power Plant at Sambalpur: A power plant with a capacity of 80 MW at an estimated cost of ₹450 crore, with expected completion by June 30, 2027.
- Hot Rolling Mill & Furnace: Capacity of 15,80,000 TPA at a cost of ₹5,400 crore, expected to commence by September 30, 2029.
- Blast Furnace Expansion: Increasing capacity from 0.77 MTPA to 0.98 MTPA at a cost of ₹410 crore, projected to be completed by June 30, 2027.
Appointment of Additional Director
Mr. Subrata Bhattacharya has been appointed as an Additional Director in the Independent Category for a term of 5 years, starting from February 1, 2026, to January 31, 2031. This appointment is subject to member approval. Mr. Bhattacharya has extensive experience in the steel and stainless-steel industry, holding leadership roles in operations, sales, marketing, and international business.
Financial Performance Highlights
The unaudited consolidated financial results for Q3 (Oct-Dec) 2025 show:
- Revenue from operations: ₹4,421.46 crore
- Profit before tax: ₹270.04 crore
- Profit after tax: ₹197.51 crore
Source: BSE
