Shyam Metalics and Energy has reported a 90% year-on-year increase in stainless steel production, reaching 8,175 metric tonnes (MT) in September 2024, up from 4,304 MT in September 2023. The average price realisation for stainless steel also rose by 18% year-on-year to ₹1,26,795 per MT in September 2024.
In the aluminium foil segment, production jumped by 79% year-on-year to 1,975 MT, with average price realisations climbing 10% year-on-year to ₹3,52,005 per MT. The speciality alloys segment recorded 15,257 MT of production, growing by 12% year-on-year, while the average realisation rose 4% to ₹1,02,779 per MT.
Carbon steel production grew by 49% year-on-year to 1,37,513 MT, though its average realisation fell 13% to ₹42,362 per MT in September 2024. Sponge iron output increased 29% to 85,098 MT in September 2024, compared to 65,783 MT in the previous year, though average realisation decreased 19% to ₹24,140 per MT.
Pellet production also rose 11% year-on-year to 91,794 MT, with average realisation dipping 14% to ₹7,733 per MT. Shyam Metalics is a key integrated metal producer in India, specialising in long steel products and ferro alloys. It ranks among the top producers of ferro alloys and sponge iron in the country.
For the first quarter of FY25, the company posted a consolidated net profit of ₹276.14 crore, a 35.31% rise from ₹204.08 crore in Q1 FY24, with revenue from operations increasing by 8.36% to ₹3,611.61 crore as of June 30, 2024.
Shyam Metalics and Energy Limited is a prominent Indian company in the metals and energy sector, specializing in the production of steel and ferroalloys. Headquartered in Kolkata, the company is one of the largest producers of intermediate and long steel products in India. Its diversified product portfolio includes sponge iron, billets, TMT bars, structural products, and ferroalloys, catering to both domestic and international markets.
Shyam Metalics has integrated steel manufacturing plants located primarily in West Bengal and Odisha, with a strong focus on efficient production and sustainable practices. The company is also expanding its presence in renewable energy, aligning with its commitment to sustainability and growth. With a vision to grow its market share and continue its robust financial performance, Shyam Metalics aims to be a significant player in India’s steel and energy landscape.
