Shyam Metalics & Energy , a leading integrated metal producing company, has reported robust financial results for the first quarter ended June 30, alongside several key announcements.

Financial Highlights

The company's consolidated revenue from operations for Q1 stood at Rs 4,418.84 crore, showing a significant increase from Rs 3,611.61 crore in the corresponding quarter of the previous year. This represents a year-on-year growth of approximately 22.30%.

Profit after tax (PAT) for the quarter reached Rs 290.67 crore, up from Rs 276.12 crore in the same period last year, marking a 5.27% increase. The company's earnings before interest, depreciation, and amortization (EBIDTA) also saw an improvement, rising to Rs 633.23 crore from Rs 538.60 crore in the corresponding quarter.

Interim Dividend Declaration

In a move that will likely please shareholders, Shyam Metalics' Board of Directors has declared an interim dividend of Rs 1.80 per equity share, representing 18% of the face value of Rs 10 per share. The record date for determining shareholder eligibility has been set for July 28.

Fundraising Plans

The company has announced ambitious fundraising plans, with the Board approving the raising of funds up to Rs 4,500 crore. This will be achieved through various means, including the issuance of equity shares, convertible securities, and private placements. Additionally, Shyam Metalics has approved the issuance of Non-Convertible Debentures (NCDs) for up to Rs 3,000 crore.

Operational Performance

Shyam Metalics continues to focus on its core business of manufacturing steel and allied products. The company's product portfolio includes:

• Pellets
• Sponge iron
• MS billets
• TMT and long products
• Specialty alloys
• Power generation

Corporate Governance

The company has scheduled its 23rd Annual General Meeting (AGM) for August 26, to be held through video conferencing. In line with regulatory requirements, Shyam Metalics has also modified its "Code of Conduct for Regulating, Monitoring and Reporting of Trading by Insiders" to comply with recent amendments in SEBI regulations.

Market Outlook

While the company has not provided specific forward-looking statements, the strong financial performance and strategic initiatives suggest a positive outlook. The substantial fundraising plans indicate that Shyam Metalics may be positioning itself for expansion or significant investments in the near future.

Investors and stakeholders will be keenly watching how the company utilizes these funds and navigates the dynamic steel and metal markets in the coming quarters.

Note: All financial figures are in Indian Rupees (Rs) and are on a consolidated basis unless otherwise stated.

Shyam Metalics & Energy , a leading integrated metal producing company, has announced its financial results for the first quarter ended June 30, showcasing robust growth and strategic initiatives.

Strong Financial Performance

The company reported a consolidated revenue from operations of ₹4,418.84 crore for Q1, marking a significant 22.35% increase from ₹3,611.61 crore in the corresponding quarter of the previous year. This substantial growth reflects the company's strong market position and operational efficiency.

Profitability and Margins

Shyam Metalics demonstrated improved profitability with a consolidated profit after tax of ₹290.67 crore, up 5.27% from ₹276.12 crore in Q1 of the previous fiscal year. The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to ₹633.23 crore, representing a 17.57% increase from ₹538.60 crore in the same period last year.

Key Financial Highlights

Dividend Declaration

The Board of Directors has declared an interim dividend of ₹1.80 per equity share, representing 18% of the face value of ₹10 each. The record date for determining shareholder eligibility is set for Monday, July 28.

Strategic Initiatives

In a significant move, the Board has approved raising funds up to ₹4,500 crore through various means, including the issuance of equity shares or other eligible securities. This decision aims to strengthen the company's financial position and support future growth plans.

Additionally, the Board has given the green light for issuing Non-Convertible Debentures (NCDs) aggregating up to ₹3,000 crore, subject to necessary approvals.

Corporate Governance

The company has modified its "Code of Conduct for Regulating, Monitoring and Reporting of Trading by Insiders" in line with recent SEBI amendments, reinforcing its commitment to transparency and good governance.

Annual General Meeting

Shyam Metalics has scheduled its 23rd Annual General Meeting for Tuesday, August 26, to be held through video conferencing. The company has set August 19 as the cut-off date for e-voting and dividend eligibility.

These results and strategic decisions underscore Shyam Metalics & Energy's strong performance and forward-looking approach in the metal production sector.