Shyam Metalics & Energy Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Shyam Metalics & Energy will hold a meeting of the Board of Directors of the Company on 30 July 2024.

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The average realisation of stainless steel increased 44.03% YoY to Rs 1,39,072/MT in June 2024.

The production of aluminium foil fell 6.29% YoY to 1,176 MT with the average realisations declined by 5.60% YoY to Rs 3,32,427/MT in June 2024.

Speciality alloys production stood at 15,216 MT, up 7.11% YoY in June 2024 with a 6.28% YoY increase in average realisation to Rs 1,00,486/MT.

Carbon Steel production fell 1.06% YoY to 1,20,803 MT and average realisation marginally fell 0.90% to Rs 47,624/MT in June 2024.

The sponge iron production soared to 89,261 MT in June 2024 from 40,599 MT in June 2023 and average realisation dropped 2.63% YoY to Rs 26,326/MT in June 2024

The pellet production was higher by 6.95% YoY to 87,251 MT with 9.41% YoY increase in average realisation to Rs 9,314/MT in June 2024.

Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India.

The company’s consolidated net profit rose 13.39% to Rs 219.94 crore on 5.19% decrease in net sales to Rs 3,606.20 crore in Q4 FY24 over Q4 FY23.

The scrip fell 1.04% to currently trade at Rs 705.20 on the BSE.

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Shyam Metalics & Energy has appointed Chandra Shekhar Verma as an Additional Director in the category of Independent Director of the Company for a period of five years. His appointment will be effective from 4 July 2024 till 3 July 2029 subject to the necessary approval of the Shareholders of the Company.

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Shyam Metalics & Energy announced the expansion of its rail infrastructure at its integrated steel plant located in village Pandloi near Rengali, Sambalpur district, Odisha. This initiative supports the company's long-term goal of continuous expansion and achieving sustainable growth.

SMEL's integrated steel plant, which also includes a coal washery and power plant, has witnessed significant growth in recent years. To meet the demands of this expanded capacity, the company has identified the need to improve its rail infrastructure for efficient handling of incoming raw materials and outgoing finished goods. Previously, the plant operated with two dedicated railway lines for managing raw material intake and finished goods dispatch.

As part of the expansion plan, completed in 2023, SMEL has increased the number of lines to four. This includes a lead line branching off from Rengali station, along with three branch lines and an engine escape line. This upgraded infrastructure, approved by the Indian Railway through a DPR (Detailed Project Report) in 2015, is now fully operational with overhead electrification completed and commissioned. This expansion will facilitate the plant to handle more than 110 rakes in a month.

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