HIGHLIGHTS of Financials for Q1FY25
Kolkata/Mumbai, 30th July 2024:– Shyam Metalics and Energy Limited (SMEL), headquartered in Kolkata, West Bengal announced its results for the first quarter of FY25. The Company has recorded Consolidated Revenue of Rs. 3,612 crores for Q1FY25 as against Rs. 3,333 for Q1FY24.
The Consolidated Operating EBIDTA was Rs. 488 crores for Q1FY25 as against Rs. 414 crores for Q1FY24. Further the Consolidated Operating EBIDTA margins for Q1FY25 was 13.5% as against 12.4% for Q1FY24. Also, the Consolidated EBIDTA was Rs. 539 crores for Q1FY25 as against Rs. 444 crores for Q1FY24.
The Consolidated Profit After Tax was Rs. 276 crores for Q1FY25 as against Rs. 202 crores for Q1FY24.The Consolidated Profit Before Tax was Rs. 374 crores for Q1FY25 as against Rs. 249 crores for Q1FY24.
Commenting on the Results, Mr Brij Bhushan Agarwal, Vice Chairman & Managing Director said “We are pleased to report a very strong performance this quarter despite industry challenges. Our Revenues grew by 9% YoY and PAT saw a robust growth of 37% YoY. This reflects our ongoing financial robustness and strategic expertise. We are witnessing an improved product mix, with higher contribution from our key products. We are steadfastly following our growth plans. We have successfully started operations at our DRI unit and Captive Power Plant at the Ramsarup Industries facility in Kharagpur. This marks a major advancement in our strategic growth efforts. This development is poised to significantly improve our revenues and margins in the upcoming years.
He further added, “We have further strengthened our board composition with appointment of Mr. Chandra Shekar Verma as Independent Director for period of 5 years. His appointment as an Independent Director shall not only strengthen the strategic advisory board but also contribute to the critical decision-making process and drive the company’s continued growth and development. On behalf of Shyam Metalics, I extend a warm welcome to him. Our commitment to leveraging internal accruals and driving innovation will support our ongoing growth and leadership in the industry. As we move forward, we are unwavering in our commitment to driving continued growth and providing substantial value to our stakeholders “
