Shyam Metalics & Energy Limited (SMEL) has reported a mixed performance for November, with significant growth in some product segments while facing challenges in others. The company, known for its diverse product portfolio in the metal industry, demonstrated resilience in a fluctuating market environment.

Key Highlights

• Strong Growth Segments: Pellets, pig iron, and CR sheets showed remarkable growth.
• Challenging Areas: Sponge iron and carbon steel products faced pricing pressures.

Detailed Performance Analysis

Pellet Segment

• Sales volume increased by 131.06% year-over-year
• Slight increase in realization by 1.02% year-over-year

Pig Iron

• Exceptional sales volume growth of 1865.63% year-over-year
• Realization decreased by 11.08% year-over-year

CR Coil/CR Sheets

• Impressive sales volume growth of 1234.68% year-over-year
• Realization increased by 25.04% year-over-year

Sponge Iron

• Sales volume decreased by 7.65% year-over-year
• Realization dropped by 11.08% year-over-year

Carbon Steel

• Marginal increase in sales volume by 0.98% year-over-year
• Realization decreased by 9.18% year-over-year

Product Performance Comparison

Strategic Developments

1. Blast Furnace Plant: SMEL commissioned a blast furnace plant with a capacity of 7.7 lac tonnes per annum, along with sinter and coke oven plants at their Jamuria location in November 2024.

2. Color Coated Plant: The company implemented a color-coated plant in Jamuria in November 2024, now producing color-coated sheets.

3. Roofing Solutions: SMEL offers a premium range of SEL Tiger Roofing Sheets, categorized into four distinct brands:

   • SEL TIGER Royale: Ultra-Premium Color Coated Sheets
   • SEL TIGER ELITE: Premium Color Coated Sheets
   • SEL TIGER AZURE: Galvalume Wider Sheets
   • SEL TIGER ALFA: Galvalume Narrow Sheets

4. HR Tube/Pipe Production: The company began reprocessing leftover side-slitted HR coils for manufacturing rectangular hollow section (RHS) and square hollow section (SHS) pipes, with commercial sales starting in February 2025.

Market Implications

The varied performance across different product segments reflects the complex dynamics of the metal industry. While SMEL has shown remarkable growth in newer segments like pig iron and CR sheets, possibly due to recent capacity additions, traditional segments like sponge iron and carbon steel face challenges, likely due to market oversupply or reduced demand.

The company's strategic investments in new plants and product lines, particularly in value-added products like color-coated sheets and specialized pipes, indicate a forward-looking approach to diversify its product mix and potentially improve profit margins.

Investors and industry observers should closely monitor how SMEL navigates these mixed market conditions, especially its ability to maintain growth in high-performing segments while addressing challenges in others. The company's adaptability and strategic expansions may play crucial roles in its future performance amid fluctuating market demands and pricing pressures.

Shyam Metalics & Energy Limited has announced the results of its postal ballot conducted through remote e-voting, with all three proposed resolutions receiving approval from shareholders with the requisite majority. The company informed BSE and NSE about the results under Regulation 30 of SEBI Listing Regulations.

Postal Ballot Process Overview

The company conducted the postal ballot process from November 24 to December 23, with scrutinizer Mr. Raj Kumar Banthia submitting his report on December 24. The Board of Directors approved the postal ballot process on November 7, with the cut-off date for eligibility set as November 14.

Resolution-wise Voting Results

Resolution 1: Director Re-appointment

The re-appointment of Ms. Rajni Mishra as Independent Director for a second term of five years (February 12, 2026 to February 11, 2031) was approved as a Special Resolution.

Resolution 2: Remuneration Revision - Mr. Sheetij Agarwal

The revision in remuneration for Mr. Sheetij Agarwal, Whole-Time Director, was passed as an Ordinary Resolution with effect from April 1, 2026.

Resolution 3: Remuneration Revision - Mr. Dev Kumar Tiwari

The revision in remuneration for Mr. Dev Kumar Tiwari, Whole-Time Director, received overwhelming support as an Ordinary Resolution with effect from April 1, 2025.

Regulatory Compliance and Communication

The postal ballot was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, SEBI Listing Regulations, and MCA General Circular No. 03/2025. The company utilized the e-voting platform provided by National Securities Depositories Limited (NSDL) for the postal ballot process.

The postal ballot notice was dispatched electronically to all eligible shareholders by November 21, and public notices were published in The Financial Express, Aarthik Lipi, and Jansatta newspapers on November 22. Company Secretary Birendra Kumar Jain signed the regulatory filings submitted to both stock exchanges.