Shyam Metalics And Energy Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
SHYAMMETL · price
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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 and Energy Limited reported consolidated revenue of Rs 18,552 Crore for FY2026, up ~22% from Rs 15,159 Crore in FY2025. Profit after tax (attributable to owners) grew to Rs 1,952 Crore from Rs 1,619 Crore, an increase of ~21%. The statutory auditor MSKA & Associates issued an unmodified (clean) opinion on both standalone and consolidated results. The Board also announced a Rs 2,700 crore capex plan for a new wire & bar mill at Kharagpur and stainless steel capacity expansion. Ernst & Young LLP was appointed as the new internal auditor. The auditors included an Emphasis of Matter regarding a Provisional Attachment Order by the Enforcement Directorate (ED) dated April 15, 2026 on subsidiary Shyam SEL and Power Limited covering investments of Rs 152.48 crore under the Prevention of Money Laundering Act, 2002, connected to alleged illegal coal purchases. Management refutes the allegations and expects no financial impact. A final dividend of Rs 2.70 per share (27% on Rs 10 face value) was recommended.
Strong revenue and profit growth with a clean audit opinion is positive. However, the ED's Provisional Attachment Order on a subsidiary (Rs 152.48 crore) is a regulatory risk that investors should monitor closely, despite management's denial and expected no impact.