Shyam Metalics and Energy reported a significant 90 per cent y-o-y growth in stainless steel production, reaching 8,175 MT in September 2024, along with strong gains in aluminium foil and speciality alloys output.
Shyam Metalics and Energy announced a remarkable 90 per cent year-on-year (y-o-y) increase in stainless steel production, reaching 8,175 MT in September 2024, compared to 4,304 MT in the same month last year. The average realisation for stainless steel rose by 18 per cent y-o-y to Rs 1,26,795 per MT.
Aluminium foil production soared 79 per cent y-o-y to 1,975 MT, with average realisation up 10 per cent y-o-y to Rs 3,52,005 per MT. Speciality alloys production also climbed 12 per cent y-o-y to 15,257 MT, alongside a 4 per cent rise in average realisation to Rs 1,02,779 per MT.
Carbon steel production advanced 49 per cent y-o-y to 1,37,513 MT, though its average realisation dipped 13 per cent to Rs 42,362 per MT. Sponge iron production increased 29 per cent y-o-y to 85,098 MT, with realisation falling 19 per cent y-o-y to Rs 24,140 per MT. Pellet production rose by 11 per cent y-o-y to 91,794 MT, with average realisation dropping 14 per cent to Rs 7,733 per MT.
Shyam Metalics, one of India’s top metal producers, saw its consolidated net profit jump by 35.31 per cent to Rs 276.14 crore in Q1 FY25, compared to Rs 204.08 crore in Q1 FY24, with revenue from operations growing 8.36 per cent y-o-y to Rs 3,611.61 crore for the quarter ended 30 June 2024. The company’s shares dropped 0.63 per cent, trading at Rs 894 on the BSE.