Shyam Metalics and Energy Ltd. Results

Q2FY25 Quarterly Result Announced for Shyam Metalics and Energy Ltd.

Iron & Steel Products company Shyam Metalics and Energy announced Q2FY25 results Revenue from Operations: Rs 3,634 crore compared to Rs 2,941 crore during Q2FY24, change 23.6%. Operating EBITDA: Rs 407 crore compared to Rs 307 crore during Q2FY24, change 32.4%. EBITDA: Rs 481 crore compared to Rs 345 crore during Q2FY24, change 39.4%. Profit After Tax: Rs 216 crore compared to Rs 482 during Q2FY24, change -55.2%. PAT Margins: 5.9% for Q2FY25. Brij Bhushan Agarwal, Vice Chairman & Managing Director said: “We are pleased to report that Q2FY25 has been a steady quarter for us, despite industry challenges. Our revenues in the quarter grew by 24% YoY to Rs 3,634 crore while Operating EBITDA saw a growth of 32% YoY to Rs 407 crore. This reflects our ongoing financial robustness and strategic expertise. We are witnessing an improved product mix, with higher contribution from our key products. We are fully committed to staying on course with our growth plans. During the quarter we have successfully commenced operations at 0.25 MTPA Cold Rolling Mill as well as 0.45 MTPA Coke Oven Plant at our Jamuria facility in West Bengal. This marks a major advancement in our strategic growth efforts. This development is poised to significantly improve our revenues and margins in the coming quarters. Our commitment to leveraging internal accruals and driving innovation will support our ongoing growth and leadership in the industry. We remain dedicated in diversifying our product portfolio by leveraging our technical expertise, enabling us to drive steady growth and achieve long term success. As we move forward, we are unwavering in our commitment to driving continued growth and providing substantial value to our stakeholders”

Q4FY24 Quarterly & FY24 Annual Result Announced for Shyam Metalics and Energy Ltd.

Iron & Steel Products company Shyam Metalics and Energy announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenues increased to 3,606 crore, up by 5.2% compared to Q4FY23. Operating EBITDA reached 442 crore, showing a 3.5% increase YoY. EBITDA stood at 493 crore, reflecting a significant 9.6% growth compared to the same quarter last year. Profit After Tax (PAT) declined to 220 crore, marking a decrease of 13.4% compared to Q4FY23. FY24 Financial Highlights: Revenues for the fiscal year amounted to 13,195 crore, showing a growth of 4.2% compared to FY23. Operating EBITDA for FY24 reached 1,570 crore, indicating a 4.7% increase YoY. EBITDA stood at 1,729 crore, demonstrating a substantial 7.8% growth compared to the previous fiscal year. Profit After Tax (PAT) surged to 1,029 crore, marking a significant rise of 21.9% compared to FY23. Commenting on the Results, Brij Bhushan Agarwal, Vice Chairman & Managing Director said “In the light of the challenges faced by the industry, I am happy to announce our commendable performance in FY24. Our Revenues and profitability increase reflects our sustained financial strength and strategic prowess. Our product mix continues to improve with higher contribution from our key products. We continue to stay on course with our growth plans. In enhancing our capacities further, the board has approved expansion plans into new metals - Stainless Steel Wire Rods & Stainless Steel Bright Bars and Aluminium Foil with total investments of Rs 810 crores which will be funded through internal accruals. This would further boost our revenues and margins in forthcoming years. Looking ahead, we remain resolute in our commitment to delivering sustained growth and value to our stakeholders.“

Q2FY24 Quarterly Result Announced for Shyam Metalics and Energy Ltd.

Iron & Steel/Intermediate Products company Shyam Metalics and Energy announced Q2FY24 results: The company has recorded Consolidated Revenues of Rs 2,940.70 crore for Q2FY24 against Rs 3,085.20 crore for Q2FY23. The Consolidated Profit Before Tax was Rs 133.40 crore for Q2FY24 as against Rs 139.95 crore for Q2FY23 because of the merger benefits owning to carry forward losses about the Mittal Corp acquisition. The Consolidated Profit After Tax was Rs 481.97 crore for Q2FY24 as against Rs 110.91 crore for Q2FY23. Despite the realisation of Finished steel being down by 11.75% on a YoY basis, we have maintained revenue owing to a growth of 24.68% in terms of volume. Successfully received the Order from Hon’ble NCLT, Mumbai Bench for the acquisition of Mittal Corp Limited along with the order of approval for the merger of Mittal Corp Limited with Shyam Sel and Power Limited, a Wholly Owned Subsidiary of the Company. There has been sustained growth in the Aluminium Foil business and the foray into stainless steel will add to our metal product basket and growth of our Company. Commenting on the Q2FY24 results, Brij Bhushan Agarwal, Vice Chairman and Managing Director, of Shyam Metalics & Energy, said, "We are delighted to report strong financial performance for the second quarter of fiscal year 2024. Shyam Metalics remains persistent in showcasing resilience and expansion within a dynamic market landscape. Our unwavering dedication to achieving excellence, combined with well-planned strategic endeavors, has driven our progress. We eagerly anticipate further capitalizing on this positive trajectory as we adapt to the evolving terrain of the metals industry."

Q1FY24 Quarterly Result Announced for Shyam Metalics and Energy Ltd.

Iron & Steel/Intermediate Products company Shyam Metalics and Energy announced Q1FY24 results: Revenues of Rs 3,307 crore in Q1FY24 compared to Rs 3,223 crore in Q1FY23, up 3% YoY EBITDA of Rs 405 crore in Q1FY24 compared to Rs 607 crore in Q1FY23, down 33% YoY EBITDA Margins of 12.2% in Q1FY24 compared to 18.8% in Q1FY23 Profit After Tax of Rs 235 crore in Q1FY24 compared to Rs 414 crore in Q1FY23, down 43% YoY PAT Margins of 7.1% in Q1FY24 compared to 12.8% in Q1FY23 Commenting on the Results, Brij Bhushan Agarwal, Vice Chairman & Managing Director said, “We are encouraged by the upward trajectory in sales of finished steel, with a robust 36% growth in volumes year on year. The company is progressing as per the strategic roadmap envisaged. Shyam Metalics strives to stay ahead of the curve and will continue to pursue growth, profitability, and sustainability. Today our board has approved a significant capex plan of Rs 3,915 crore, which will enable us to enhance our capacities further. Our present finished steel capacity of 2.7 MTPA will grow to 4.4 MTPA. Cost advantage will be retained even with capacity expansion as we will grow our captive power generation from 377 MW to 597 MW. Sustainability is our top priority, the renewable energy portfolio be enhanced more than tenfold, growing from existing 9.1 MW to 109.1 MW. As the favourable demand environment stays strong in India, we are energized and progressing towards a more enriched product mix and higher volumes, and consequently, a much stronger company in the coming years ”