Shyam Century Ferrous Limited has informed the Exchange about Closure of operations
SHYAMCENT · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.6 pts less than its Ferro & Silica Manganese peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shyam Century Ferrous Limited has shut down its sole manufacturing plant located at EPIP, Rajabagan, Byrnihat, Meghalaya with effect from 7th May 2025. The closure is due to a significant increase in power tariffs, which has made the plant's operations financially unviable. Critically, this plant contributed 100% of the company's turnover, amounting to Rs. 14,670.66 lakhs in FY 2023-24, against a net worth of Rs. 16,122.88 lakhs. With no other operating units mentioned, the company has effectively ceased its core business activities. No sale agreement for the unit has been disclosed at this stage.
This is a major negative event for shareholders, as the company is shutting down its only revenue-generating asset, effectively halting its core business. The stock is likely to face significant selling pressure given the complete loss of operating income, unless a quick turnaround, asset sale, or new business plan is announced.