Net profit of Shyam Metalics & Energy declined 55.48% to Rs 215.50 crore in the quarter ended September 2024 as against Rs 484.09 crore during the previous quarter ended September 2023. Sales rose 23.58% to Rs 3634.02 crore in the quarter ended September 2024 as against Rs 2940.70 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales3634.022940.70 24 OPM %11.1910.44 - PBDT450.77309.94 45 PBT306.80133.40 130 NP215.50484.09 -55 Powered by Capital Market - Live

Shyam Metalics & Energy has officially commissioned a new blast furnace and launched a sinter plant at its Jamuria facility. With an investment of Rs. 600 crore, this significant new development aims to expand production capabilities to meet the growing demand for high-quality steel products across various industries. The newly commissioned blast furnace has a capacity of 0.77 million tonnes per annum (MTPA), substantially increasing the plant's production capability. This blast furnace, with a volume of 550 cubic meters, is equipped with three top-fired stoves, modern coal dust injection technology, and a dry gas cleaning plant to optimize the steelmaking process. This enhancement is anticipated to boost steel production by 0.77 MTPA and improve margins by approximately Rs. 700/MTPA.Powered by Capital Market - Live

The company invested Rs 600 crore in this expansion project, which is aimed at boosting its production capacity and meeting the rising demand for high-quality steel products. The new blast furnace, with a capacity of 0.77 million tonnes per annum (MTPA), is equipped with advanced technology to optimize steel production. This enhancement is anticipated to improve margins by approximately Rs 700/MTPA. The company has also launched a sinter plant with a capacity of 1.11 MTPA to process iron ore fines. This will enhance operational efficiency and reduce production costs. Brij Bhushan Agarwal, vice chairman & managing director of Shyam Metalics and Energy, stated, At Shyam Metalics, we have always strived for effective and continuous growth plans. The new blast furnace and sinter facility will improve India's steel production capability. This development demonstrates our commitment to encouraging industrial growth and creating employment opportunities in the region. Shyam Metalics is a leading Indian steel company focused on long steel products and ferro alloys. It's one of India's largest producers of ferro alloys and a major player in the sponge iron industry. On a consolidated basis, net profit of Shyam Metalics & Energy rose 36.29% to Rs 278.14 crore on 8.36% rise in net sales to Rs 3611.61 crore in Q1 June 2024 over Q1 June 2023. Powered by Capital Market - Live

Shyam Metalics & Energy will hold a meeting of the Board of Directors of the Company on 7 November 2024Powered by Capital Market - Live

Shyam Metalics & Energy announced the sudden demise of Yudhvir Singh Jain (DIN: 06507365), Independent Director of the Company on 24 October 2024. Powered by Capital Market - Live

Shyam Metalics and Energy announced the commencement of operations at its advanced Coke Oven Plant in Jamuria, West Bengal. The new facility began production, reflecting a significant step forward in the company's expansion and sustainability goals. Backward integration will enhance the company's bottom line by reducing costs and increasing control over the supply chain. The coke oven plant which was heated for commissioning has begun receiving raw materials. It is comprised of two batteries, each containing 35 ovens. The factory will largely employ coal imported from Australia, Indonesia, and Russia to create high-quality coke. This coke will be used in Shyam Metalics' blast furnace, sinter plant, and ferroalloys facility, increasing production efficiency and quality across all facilities. The new plant's eco-friendly features are one of its major highlights. The plant complies with strict environmental regulations and is friendly to the environment with its non-recovery type coke oven design, which ensures zero emissions. Furthermore, the waste heat recovery boiler (WHRB) facility will catch and use the flue gas released during the coke production process to generate electricity, increasing the plant's efficiency and reducing its impact on the environment.Powered by Capital Market - Live

Shyam Metalics & Energy announced the expansion of its production capabilities with the establishment of a state-of-the-art Greenfield Cold Rolling Mill (CRM) in Jamuria, West Bengal. This strategic investment highlights Shyam Metalics' commitment to enhancing its product portfolio and extending its reach in both domestic and international markets. The facility commenced trial run under Shyam Metalics Flat Product, a wholly owned stepdown subsidiary of SMEL. It is in line with government industrial policies and supports the company's strategic strategy. With a total capacity of 400,000 tons annually, the new Cold Rolling Mill is a cutting-edge establishment. The project has a total capital cost of Rs 603 crore, with Rs 346 crore invested and Rs 257 crore pending. The mill will specialize in producing pre-painted galvalume coils (PPGL) and coils of galvanized iron/galvanized steel (GI/GL). With this expansion, Shyam Metalics will be able to produce steel products of the highest caliber and further strengthen its integrated steel manufacturing capabilities. Powered by Capital Market - Live

The key equity indices continued to trade with major gains in afternoon trade. The Nifty traded above the 25,000 level. IT, consumer durables and oil & gas shares advanced while PSU bank, pharma and media shares declined. At 13:30 IST, the barometer index, the S&P BSE Sensex jumped 655.27 points or 0.81% to 81,751.40. The Nifty 50 index advanced 200.05 points or 0.81% to 25,023.20. In the broader market, the S&P BSE Mid-Cap index added 0.45% and the S&P BSE Small-Cap index gained 0.32%. The market breadth was positive. On the BSE, 2,269 shares rose and 1,709 shares fell. A total of 160 shares were unchanged. Economy: India's forex reserves jumped by $4.546 billion to $674.664 billion during the week ended August 16, according to the latest RBI data. In the previous week, the forex kitty had dropped by $4.8 billion to $670.119 billion. On August 2, the overall reserves hit an all-time high of $674.919 billion. The foreign currency assets, a major component of the reserves, increased by $3.609 billion to $591.569 billion, the RBI data showed. Gold reserves increased by $865 million to $60.104 billion during the week ended August 16. The special drawing rights (SDRs) were up by $60 million to $18.341 billion. India's reserve position with the IMF was up by $12 million to $4.65 billion during the week, said the RBI. Gainers & Losers: NTPC (up 2.99%), Hindalco Industries (up 2.90%), Oil and Natural Gas Corporation (up 2.80%), HCL Technologies (up 2.26%) and Bajaj Finserv (up 2.05%) were major Nifty gainers. Apollo Hospitals Enterprise (down 0.62%), Hero Motocorp (down 0.53%), Adani Ports and Special Economic Zone (down 0.44%), Adani Enterprises (down 0.42%) and Eicher Motors (down 0.40%) were major Nifty losers. Stocks in Spotlight: Shyam Metalics & Energy jumped 2.80% after the company's wholly-owned subsidiary, Shyam Sel and Power (SSPL) has acquired a 100% stake in SMEL Steel Structural, a promoter group company, for total consideration of Rs 1 lakh. SSPL purchased 10,000 equity shares in SMEL Steel Structural, which were previously held by Sheetij Agarwal and Shubham Agarwal (5000 shares each). KEC International gained 2.99% after the company said that it has secured new orders of Rs 1,079 crore in transmission & distribution (T&D) and cables businesses. Alembic Pharmaceuticals fell 0.49% after the company announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Betamethasone Valerate Foam. Symphony shed 0.57%. The household appliances company announced that its wholly owned subsidiary (WOS) in China, Guangdong Symphony Keruilai Air Cooling Co, has incorporated a China-based unit, Dongguan GSK Appliances. Bharat Heavy Electricals (BHEL) rose 0.68%. The company announced that it has received orders worth over Rs 11,000 crore from Adani Power and its subsidiary Mahan Energen, to set up three supercritical thermal power projects. Transport Corporation of India tumbled 4.54%. The company informed that its board approved share buyback of up to Rs 160 crore at a price of Rs 1,200 per equity share. Shilpa Medicare jumped 4.91% after the company informed that it has successfully completed phase-3 clinical studies of its product SMLNUD07 - Nor Ursodeoxycholic Acid (NorUDCA) tablets. Global Markets: Europeans stocks traded lower on Monday, as investors digested increasing tensions in the Middle East following strikes by both Israel and Hezbollah over the weekend. Asian markets traded mixed, with some finding support from the anticipation of lower U.S. interest rates. However, Japanese markets retreated amidst pressure from the yen and speculation about potential rate hikes by the Bank of Japan. The upcoming Tokyo inflation data is expected to provide more clarity on the trajectory of Japanese interest rates. Sentiment was also influenced by the People's Bank of China's withdrawal of approximately 101 billion yuan ($14.2 billion) from the open market. While this move aimed to strengthen the yuan, it also raised concerns about the extent of Beijing's support for the Chinese economy. Regional markets drew initial strength from the positive performance of Wall Street, where the S&P 500 and Dow Jones Industrial Average approached record highs on Friday. Federal Reserve Chair Jerome Powell's comments reinforced expectations for a rate cut in September, with Powell stating that the time has come for a monetary policy adjustment. In his speech at the Jackson Hole Economic Symposium on Friday, Powell highlighted the factors contributing to recent inflation, including increased demand for goods, supply chain disruptions, tight labor markets, and rising commodity prices. He also clarified that the recent rise in the unemployment rate is primarily due to increased labor supply and slower hiring, rather than widespread layoffs. The S&P 500 gained 1.2%, the Dow Jones Industrial Average rose 1.1%, and the NASDAQ Composite surged 1.5%. However, caution prevailed ahead of a series of crucial events this week. The most anticipated is the earnings report from NVIDIA Corporation, a market darling, which is due after the market closes on Wednesday. Additionally, the PCE price index data, the Fed's preferred inflation gauge, is scheduled for later in the week. Powered by Capital Market - Live

SSPL purchased 10,000 equity shares in SMEL Steel Structural, which were previously held by Sheetij Agarwal and Shubham Agarwal (5000 shares each). Sheetij Agarwal is a promoter director of both Shyam Metalics and Energy and SMEL Steel Structural, while Shubham Agarwal is a relative of the company's promoters. These transactions were conducted at arm's length. The primary objective of SMEL Steel Structural is to establish manufacturing facilities for metal and metal products including Aluminium Foil, Aluminium Flat Rolled Products, Casters, CRM, Foil Stocks, etc. As a result of this acquisition, SMEL Steel Structrural has become a wholly-owned subsidiary of SSPL and a step down subsidiary of Shyam Metalics and Energy. Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India. The company reported 35.31% jump in consolidated net profit to Rs 276.14 crore in Q1 FY25 from Rs 204.08 crore in Q1 FY24. Revenue from operations grew by 8.36% year on year to Rs 3,611.61 in the quarter ended 30 June 2024.Powered by Capital Market - Live

SSPL has purchased 10,000 equity shares in one of the promoter company namely SMEL Steel Structure Private which 5,000 shares were held by Sheetij Agarwal and 5,000 shares were held by Shubham Agarwal. Sheetij Agarwal is the promoter director of Shyam Metalics and Energy (SMEL) and SMEL Steel Structural (SSSPL) who was holding 5000 equity shares in SSSPL while Shubham Agarwal is the relative of promoters of the company, who was holding 5000 equity shares in SSSPL, thus said transactions are done at arm's length basis. The main object of entity being acquired is to set up manufacturing facilities for metal and metal products including Aluminium Foil, Aluminium Flat Rolled Products, Casters, CRM, Foil Stocks, etc. Consequent upon the above purchase of the entire stake of shareholdings in SMEL Steel Structural, it has become the wholly-owned subsidiary of SSPL and step-down subsidiary of Shyam Metalics and Energy. Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India. The company reported 35.31% jump in consolidated net profit to Rs 276.14 crore in Q1 FY25 from Rs 204.08 crore in Q1 FY24. Revenue from operations grew by 8.36% year on year to Rs 3,611.61 in the quarter ended 30 June 2024. Th scrip shed 0.57% to settle at Rs 804.70 on Friday, 23 August 2024.Powered by Capital Market - Live