Shyam Metalics and Energy

“So the initial investment is going to be only for 4.5 million to 5 million tons. Definitely, we're not going to take 9 million tons in advance, but it is going to take time.”

“Yes. Correct. Correct. First, we will do 4.5 million tons. So that is a model everybody follows.”

“The government is going to give us a land in next 1 year, 1.5 years, it depends. Then we take around 6 months for engineering all the -- so for next 1.5, 2 years, there is no such decision on the execution of this project is going to be mature.”

“Mr. Jain, first of all, it is 100% going to be under Shyam Metalics. B, Shyam Metalics, if you see as a company, you have seen like we had been always growing in the selective sector where we have invested. Since we are growing in the HR flat product, which the plant of Jamuria is going to be commissioned by 2028”

“First of all, we have a land in Bengal, and we can further increase. But at this point of time, we don't have such plans. Till we stabilize everything in Bengal, then we will take the expansion of the second phase of Bengal.”

“we commissioned a 1.5 million ton of beneficiation plant at Sambalpur with an investment of INR150 crores.”

“With estimate reserve of 170 million tons and the production expected by July 2027, the block will support long-term captive coal requirement and reduce the dependency on the external sources.”

“The newly commissioned solar plant of close to 9 megawatts in Jamuria will increase the renewable energy use, support lower power cost, and reduce emissions from our operations.”

“The carbon steel flat product sales more than double year-on-year basis to approximately 81,500 tons, while stainless steel volume grew by 20.7% to approximately 29,850 tons. Stainless steel realization has also increased by 35.2% on year-on-year basis.”

“As far as aluminum volume has increased by 3%, while realizations rose by 27.7% on year-on- year basis, supporting revenue performance.”

“It will take 2, 2.5, 3 years to stabilize the complete business from today. We are putting up auto steel, so there also we will grow.”

“Mittal Corp. is doing pretty decent now. We are -- our capacity utilization is close to 85%. And we are right now building up a value chain in the Mittal Steel, like we have started the wire business.”

“We are not doing any major expansion in Mittal Corp. in the long product, because we feel like we have to invest more on the downstream rather than upstream.”

“India remains the major source of growth with the demand expected to increase 7.9% in 2026 and 8% in 2027.”

“Amit, we will not see a major change on the revenue-driving mechanism, what is going right now.”

“We are seeing now, presently, there's a huge shortage of HR.”

“And also the demand is growing in India as well as the export and all.”

“How does it matter? The market is growing. We are putting up our HR plant. We have a backward integration. We have a brand. The market is growing. The export market is opening. We are exporting also.”

“Operating EBITDA, excluding the other income, grew 52.6% on year-on-year basis and 7.5% on quarter-on-quarter basis to INR823 crores. The operating EBITDA margin expanded by 170 bps year-on-year basis to 13.8%.”

“And in aluminum, also, we -- aluminum is good because of the lot of disruption in the Middle East. We are seeing like a lot of demand in the aluminum foil product. A lot of plants are shut down over there.”

“Demand is good. And in stainless steel, we have gone with the value-added product. We are making specialty wires. We are making pipes.”

“So stainless steel will give a decent EBITDA of around INR13,000 to 15,000 per ton. Carbon steel has been giving a decent EBITDA of around INR6,000, INR7,000 per ton on an average.”

“Other businesses, aluminium had been giving an EBITDA of around INR40,000 per ton, but the size of the aluminum is not as big as if you see from the volume side and from the bottom line.”

“Our earnings performance was accompanied by a strong operating cash flow of INR1,544 crores during the first half, covering a capital expenditure of INR1,291 crores.”

“As of September 2026, the working capital stood at a negative 16 days, supporting efficient utilization of capital and liquidity. The net debt remained modest at INR192 crores”

“but we don't have any intent to build up any kind of debt till we feel that it is a need of an hour.”

“We are going to remain like this only, more or less.”

“If there is some shortfall of INR400 crores, INR500 crores, INR1,000 crores, so it really doesn't matter for us.”

“This merger is expected to improve our operational efficiency, and also we will get the tax benefit of over INR15 crores through the utilizations of carryforward losses from this unit.”

“One more development during the quarter was proposed by acquiring 51% controlling stake in a company called Alom Solar Private Limited, the successful bidder for the Phutamura coal block in Chhattisgarh, advance our strategy to create integrated operation.”

“Fin stock and battery foil offers opportunities to serve specialty application -- special application and broaden our customer base. We will develop this business in time with customer's requirement with emphasis on product qualification, commercial viability, and profitable growth.”

“during this quarter, we changed our depreciation methodology, the shifting from written-down value method to straight-line method, which is in line with the industry practice”

“You can't survive in the long term without your HR. You need to have your HR. This is not going to be a business like before that you buy an HR as you make color-coated.”

“Revenue from operations stood at INR5,960 crores, up 33.4% on year-on-year basis and 9.3% on quarter-on-quarter basis.”

“Similarly, the EBITDA increased 40.9% on year-on-year basis and 5.5% on quarter-on-quarter basis, which stood at INR857 crores, with a margin of 14.4%.”

“Profit after tax increased to 96.2% on year-on-year basis and 45.7% on a quarter-on-quarter basis to INR511 crores, supported by strong operating earnings and a lower depreciation cost during this quarter.”

“The first half year of the current financial year, the revenues stood at INR11,415 crores, up 28.4% on year-on-year basis.”

“As of September 2026, we are further strengthening the profitability to a RoE of 14% and RoCE is at 20%.”