Outcome of Board Meeting
SHYAMMETL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.2 pts less than Nifty Smallcap 250 and 3.0 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shyam Metalics reported FY2026 standalone and consolidated audited results with revenue from operations of Rs 18,552 Crores, up 22.4% from Rs 15,159 Crores in FY2025. EBITDA for the year stood at Rs 2,537 Crores with PAT of Rs 1,070 Crores, representing approximately 18% PAT growth year-over-year. The Board approved a final dividend of Rs 2.70 per equity share (27% on face value Rs 10). A major capex plan of Rs 2,700 Crores was announced covering a Wire Rod and SBQ Mill at Kharagpur and stainless steel expansion at Sambalpur, both targeted for March 2029. The statutory auditors MSKA & Associates issued an unmodified opinion, though with an Emphasis of Matter regarding a Provisional Attachment Order by the Enforcement Directorate on subsidiary Shyam SEL and Power Limited under PMLA, 2002 for Rs 152.48 Crores of investments. Ernst & Young LLP was appointed as Internal Auditors for FY2026-27.
Strong revenue growth of 22%+ with PAT growth demonstrates operational strength. The Rs 2,700 Crore capex plan signals long-term expansion but will require monitoring of debt levels. The ED attachment on a subsidiary is a regulatory risk factor that investors should watch despite management's stance that it will not impact operations.