Shyam Metalics and Energy Limited delivered robust consolidated financial results for FY2025-26, with revenue from operations rising 22% to ₹18,552 crore from ₹15,138 crore in the previous year. Profit after tax grew 16.60% to ₹1,060.17 crore from ₹909.26 crore, while operating EBITDA expanded 25% to ₹2,333.14 crore. Sales volumes rose 26% to 4.94 million tonnes, and the company reduced its working capital cycle from 22 days to 9 days during the year, reflecting improved inventory management and receivables discipline.

Key Financial Performance

The following table summarises the company's consolidated financial highlights for FY26 versus FY25:

The standalone business also recorded growth, with total income rising to ₹7,103.8 crore from ₹6,623.7 crore in the prior year. Standalone PAT increased 12.91% to ₹552.9 crore, and standalone operating EBITDA rose from ₹921.34 crore to ₹1,033.92 crore.

Operational Highlights and Segment Performance

On a consolidated basis, production increased from 10.67 MTPA to 12.13 MTPA, a growth of approximately 13.68% year-on-year, while sales increased from 3.94 MTPA to 4.94 MTPA, a growth of 25.38%. Standalone steel production rose 9.66% year-on-year to a record 5.45 MTPA from 4.97 MTPA in FY25, with steel product sales reaching 2.35 MTPA, an increase of 17.50% from 2.00 MTPA.

Key operational milestones during FY26 included:

• The Pig Iron plant at Jamuria achieved 100% utilisation in FY26
• The Colour-Coated facility reached 71% utilisation within its first full year, developed with an investment of ₹603 crore
• Phase 2 of the Cold Rolling Mill complex at Jamuria commenced operations in April 2026 across a 55-acre facility
• Stainless steel volumes grew 11.5% while realisation improved by 6.7%
• Speciality alloys delivered 11.9% volume growth
• Aluminium foil realisation per tonne improved 10.4%
• Fixed assets grew from ₹6,356.68 crore to ₹8,134.01 crore over the year
• Power generation was 375 MW in FY26 against 333 MW in FY25

Installed Capacity

The following table summarises the company's installed capacities across key business segments:

Capital Expenditure and Balance Sheet

Against a total planned capex of ₹16,086 crore, the company had incurred ₹8,630 crore on a consolidated basis during the period under review, of which ₹6,136 crore has been capitalised. The remaining ₹2,494 crore has been deployed into assets that are commissioning, ramping, or approaching steady-state production. The Board has approved a fresh capex of ₹2,700 crore comprising a ₹900 crore Special Bar Quality (SBQ) Mill at Kharagpur and a ₹1,800 crore stainless steel downstream expansion at Sambalpur, both targeting commissioning from FY29 onwards. The aggregate capital investment programme over the next 3-4 years stands at approximately ₹10,155 crore, intended to be funded entirely through internal accruals. Shareholders have also approved a ₹7,500 crore enabling resolution for future opportunities.

The balance sheet remained strong, with gross debt of ₹957 crore against a net worth of ₹10,499.60 crore and total investments of ₹1,335 crore exceeding gross debt. CRISIL upgraded the company's long-term credit rating to AA+/Stable in November 2025, with the short-term rating reaffirmed at A1+.

Key Financial Ratios

Dividend and AGM

The Board declared an interim dividend of ₹1.80 per equity share on July 22, 2025, which was paid on August 2, 2025. The Board has recommended a final dividend of ₹2.70 per equity share for FY2025-26, subject to shareholder approval at the 24th Annual General Meeting scheduled for August 25, 2026 via video conferencing. The record date for the final dividend is Tuesday, August 18, 2026.

CSR and ESG

During FY26, the company invested ₹21.62 crore towards community development initiatives through the Shyam Metalics Foundation, positively impacting communities across its operating regions. Key CSR metrics included 95,000 free OPD visits annually, 38,397 residents provided safe drinking water, and support for over 1,00,000 cattle. The company maintained Zero Liquid Discharge systems across all plants, generated 6,27,96,611 GJ of renewable energy, and planted over 1,00,000 trees. Renewable energy usage stood at 18.50%, and the company avoided over 35,000 tonnes of CO₂ emissions annually.

Shyam Metalics & Energy Limited commissioned a new 1.5 MTPA (Million Tonnes Per Annum) beneficiation plant in Sambalpur, Odisha, on July 29, 2026. The facility, which required a capital investment of ₹150 Crore, is now fully operational and dedicated to upgrading low-grade ore into high-quality feedstock for downstream steel manufacturing. This vertical integration move aims to reduce reliance on costly external feedstock, thereby creating cost synergies and boosting operating margins for the integrated metal producer.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Birendra Kumar Jain, Company Secretary, confirmed the issuance of the press release to the Bombay Stock Exchange and the National Stock Exchange of India. The company stated that the plant is already delivering on its operational objectives by maximizing the value of its raw material base and lowering overall production costs.

Operational Impact and Strategic Benefits

The primary strategic objective of the new facility is to enhance resource efficiency and margin expansion. By processing low-grade ore in-house, Shyam Metalics aims to extend mine life and optimize existing reserves. The plant utilizes eco-efficient technology to ensure a uniform, premium-grade input, which improves yield and throughput across manufacturing lines while minimizing waste output.

Brij Bhushan Agarwal, Chairman & Managing Director, stated that the commissioning marks a transformative milestone for the company. He noted that the facility is immediately strengthening the bottom line by minimizing waste and ensuring optimal utilization of existing reserves.

Sustainability and Efficiency

The newly active facility incorporates modern technology designed to optimize water and energy consumption. By converting previously underutilized low-grade resources into high-value inputs, the company aligns its expansion with sustainable industrial growth principles. This approach reduces exposure to volatile external ore prices and supply chain disruptions.

What the Numbers Show

The ₹150 Crore investment in a 1.5 MTPA facility indicates a focused strategy on vertical integration within the raw material supply chain. For an integrated metal producer with an aggregate installed metal capacity of 16.93 MTPA, securing consistent, high-quality internal feedstock is critical for margin stability. The ability to process low-grade ore internally directly impacts the cost of goods sold, suggesting a structural improvement in gross margins as external procurement costs are offset by lower-cost internal production.