We are enclosing 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 strong FY2026 results with standalone revenue growing 22.4% to Rs 18,552 crore from Rs 15,159 crore in FY2025. PAT jumped 28.9% to Rs 1,060 crore from Rs 823 crore. The Board approved a final dividend of Rs 2.70 per share (27% on face value). Auditors MSKA & Associates gave an unmodified (clean) opinion on both standalone and consolidated results. However, auditors flagged an Emphasis of Matter regarding a Rs 152.48 crore provisional attachment order by the Enforcement Directorate on subsidiary Shyam SEL and Power Limited under PMLA, related to alleged illegal coal purchases. The company refutes these allegations. The Board also approved Rs 2,700 crore capex for new projects including an 0.8 MTPA wire/bar mill at Kharagpur and stainless steel capacity expansion at Sambalpur, expected to commission by March 2029. Ernst & Young LLP was appointed as new Internal Auditors for FY2026-27.
Strong operational performance with 22%+ revenue growth and near 29% PAT growth is positive for shareholders. The ED investigation on a subsidiary is a minor concern but management has refuted allegations and expects no operational impact. The Rs 2,700 crore capex plan signals long-term growth focus but will increase debt levels. The dividend provides near-term shareholder returns.