Business
Shyam Metalics reports Revenue growth of 24% YoY in Q2 FY25 Operating EBITDA grew by 32% YoY
New Delhi/ Kolkata, 08th November 2024 – Shyam Metalics and Energy Limited (SMEL), a leading multi-metal conglomerate with footprints in carbon steel, stainless steel, speciality alloys and aluminium foil along with a captive power plant announced its Financial Results for the quarter ended 30th September 2024.
Key Financial Highlights: Q2 FY25
Revenue from Operations : Rs. 3,634 crores
Operating EBITDA: Rs. 407 crores
EBITDA: Rs. 481 crores
Profit After Tax: Rs. 216 crores
Key Consolidated Financial Highlights
|
Particulars (Rs. Crs.)
|
Q2 FY25
|
Q2 FY24
|
Y-o-Y
|
Q1 FY25
|
Q-o-Q
|
H1 FY25
|
H1 FY24
|
Y-o-Y
|
|
Revenues
|
3,634
|
2,941
|
23.6%
|
3,612
|
0.6%
|
7,246
|
6,274
|
15.5%
|
|
Operating EBITDA
|
407
|
307
|
32.4%
|
488
|
-16.6%
|
894
|
721
|
24.0%
|
|
Operating EBITDA Margins (%)
|
11.2%
|
10.4%
|
13.5%
|
12.3%
|
11.5%
|
|||
|
EBITDA
|
481
|
345
|
39.4%
|
539
|
-10.8%
|
1,020
|
789
|
29.3%
|
|
Profit After Tax
|
216
|
482*
|
-55.2%
|
276
|
-21.7%
|
492
|
684*
|
-28.1%
|
|
PAT Margins (%)
|
5.9%
|
16.4%
|
7.6%
|
10.9%
|
*Q2 FY 24 PAT was high owing to adjustment of Rs. 328 Cr for Deferred Tax Asset and reversal of Income Tax provision on account of brought forward losses arising on acquisition of Mittal Corp Ltd
Per Tonne Realizations (Product Wise Details)
|
Per Tonne Realizations (Rs.)
|
Q2 FY25
|
Q2 FY24
|
Y-o-Y
|
Q1 FY25
|
Q-o-Q
|
H1 FY25
|
H1 FY24
|
Y-o-Y
|
|
Speciality Alloys
|
99,851
|
93,674
|
6.6%
|
97,252
|
2.7%
|
98,627
|
95,199
|
3.6%
|
|
Finished Steel
|
43,934
|
47,490
|
-7.5%
|
47,990
|
-8.5%
|
45,904
|
49,065
|
-6.4%
|
|
Steel Billets
|
38,281
|
42,070
|
-9.0%
|
42,636
|
-10.2%
|
40,305
|
43,421
|
-7.2%
|
|
Sponge Iron
|
24,306
|
27,788
|
-12.5%
|
27,208
|
-10.7%
|
25,753
|
28,052
|
-8.2%
|
|
Iron Pellets
|
8,123
|
8,543
|
-4.9%
|
9,067
|
-10.4%
|
8,563
|
8,816
|
-2.9%
|
|
Aluminium
|
3,46,886
|
3,28,730
|
5.5%
|
3,26,580
|
6.2%
|
3,37,295
|
3,39,068
|
-0.5%
|
|
Stainless Steel
|
1,37,523
|
1,04,606
|
31.5%
|
1,34,266
|
2.4%
|
1,35,979
|
1,08,149
|
25.7%
|
Sales Volumes (in Tonnes)
|
Volumes (in tonnes)
|
Q2 FY25
|
Q2 FY24
|
Y-o-Y
|
Q1 FY25
|
Q-o-Q
|
H1 FY25
|
H1 FY24
|
Y-o-Y
|
|
Speciality Alloys
|
52,509
|
43,550
|
20.6%
|
46,619
|
12.6%
|
99,123
|
92,589
|
7.1%
|
|
Iron Pellets
|
2,38,978
|
2,41,098
|
-0.9%
|
2,09,034
|
14.3%
|
4,48,013
|
5,77,696
|
-22.4%
|
|
STEEL PRODUCTS
|
||||||||
|
Finished Steel
|
3,57,777
|
2,96,447
|
20.7%
|
3,37,674
|
6.0%
|
6,95,451
|
6,09,233
|
14.2%
|
|
Steel Billets
|
53,001
|
34,951
|
51.6%
|
46,033
|
15.1%
|
99,034
|
84,266
|
17.5%
|
|
Sponge Iron
|
2,56,931
|
1,77,373
|
44.9%
|
2,55,779
|
0.5%
|
5,12,711
|
3,33,551
|
53.7%
|
|
Steel Products Total
|
6,67,709
|
5,08,771
|
31.2%
|
6,39,487
|
4.4%
|
13,07,196
|
10,27,050
|
27.3%
|
|
Aluminium
|
5,107
|
3,603
|
41.7%
|
4,572
|
11.7%
|
9,678
|
7,257
|
33.4%
|
|
Stainless Steel
|
20,934
|
9,501
|
120.3%
|
18,851
|
11.0%
|
39,785
|
20,859
|
90.7%
|
Commenting on the Results, Mr Brij Bhushan Agarwal, Vice Chairman & Managing Director said
“We are pleased to report that Q2 FY25 has been a steady quarter for us, despite industry challenges. Our revenues in the quarter grew by 24% YoY to INR 3,634 crores while Operating EBITDA saw a growth of 32% YoY to INR 407 crores. 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 fully committed to staying on course with our growth plans.
During the quarter we have successfully commenced operations at 0.25 MTPA Cold Rolling Mill as well as 0.45 MTPA Coke Oven Plant at our Jamuria facility in West Bengal. This marks a major advancement in our strategic growth efforts. This development is poised to significantly improve our revenues and margins in the coming quarters.
Our commitment to leveraging internal accruals and driving innovation will support our ongoing growth and leadership in the industry. We remain dedicated in diversifying our product portfolio by leveraging our technical expertise, enabling us to drive steady growth and achieve long term success. As we move forward, we are unwavering in our commitment to driving continued growth and providing substantial value to our stakeholders“
Shyam Metalics is a leading and fastest-growing integrated metal-producing company based in India primarily in the steel Industry in West Bengal, Odisha, Girdih and Madhya Pradesh with a focus on Long Steel Products, Ferro Alloys, Aluminum and Stainless Steel The company got listed itself on the exchanges in 2021 and as on date of this press release possesses a market capitalization of Rs. 24,000 Cr. Spearheaded by Mr. B. Bhushan, Vice Chairman and Managing Director, the company strives to deliver unparalleled quality through their customized value-added solutions to meet business requirements. Headquartered in Kolkata, West Bengal, the company is amongst the largest producers of ferro alloys in terms of installed capacity in India (Source: CRISIL Report).
The company has the ability to sell intermediate and final products across the steel value chain. Shyam Metalics is one of the leading players in terms of pellet capacity and the largest coal fired player in the sponge iron industry in terms of sponge iron capacity in India.