Shyam Metalics And Energy Limited has informed the Exchange about Investor Presentation
SHYAMMETL · price
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Shyam Metalics posted FY26 revenue of Rs 18,552 crore (up 22% YoY), EBITDA of Rs 2,537 crore (up 21%), and PAT of Rs 1,061 crore (up 17%). Q4 FY26 saw revenue of Rs 5,240 crore and PAT of Rs 312 crore. Operating EBITDA margin expanded to 13.9% in Q4 (from 12.4% a year ago) driven by captive power (81% sourced internally at Rs 2.49/unit vs grid at Rs 5-7/unit) and higher per-tonne realisations across most segments. The company is in a peak capex cycle (Rs 8,630 crore incurred out of Rs 16,085 crore budgeted), with Rs 378 crore cash positive in FY26. Management guided FY26-31E targets of ~3x revenue and EBITDA growth (15-17% revenue CAGR, 18-20% EBITDA CAGR) without raising additional capital, while retaining 75% stake. Fresh capex of Rs 2,700 crore was approved for an SBQ wire rod/bar mill (Rs 900 crore, March'29) and stainless steel expansion to 0.6 MTPA (Rs 1,800 crore, March'29). Net debt rose marginally to Rs 960 crore, with gross debt/equity at 0.08x. CRISIL AA+ (Stable) rating retained.
The company demonstrates operational leverage through captive power and backward integration, with margin expansion in Q4 offsetting a full-year margin decline. The large pipeline capex (Rs 10.6 trillion pending) creates near-term working capital pressure but positions the company for a step-change in revenue and EBITDA by FY29-30. Cash-positive status at peak capex and a strong credit rating are positives for balance sheet resilience.